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Cameron Suggests Two-Tier System for European Union’s Budget

U.K. Prime Minister David Cameron suggested the European Union should have a two-tier budget structure, with countries in the euro region paying more toward governance of the bloc.

“When you have got a single currency with a single bank behind it and more transfers between those countries there will come a time when you are going to need to have two European budgets: one for the single currency because they are going to have to support each other much more and perhaps a wider budget for everyone else,” Cameron told BBC television’s “Andrew Marr Show” yesterday.