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Non-eurozone nations affected by Europe crisis

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David Cameron has warned that the ongoing debt crisis in the eurozone is affecting many countries that are not part of the monetary union.

According to the British prime minister, the turmoil in Europe is hitting nations such as the UK, as well as places that are further afield such as Canada, Japan and the US.

Mr Cameron is currently attending a Nato summit in the US, which has come immediately after a meeting of G8 leaders.

Speaking at the event, the PM said the presence of countries that are outside the eurozone in the discussions has helped to encourage German chancellor Angela Merkel to adopt a slightly different approach to dealing with the situation.

"I think she did show some flexibility in terms of what more can be done on the growth agenda and also what more can be done to handle the risks inside the eurozone," Mr Cameron commented.

"The fact you have got countries like Japan, America [and] Canada round the table was helpful in bringing that important pressure to bear."

However, Mr Cameron remains concerned about continuing political uncertainty in Greece, following the indecisive outcome of its recent election and a failure to form a coalition government.

The prime minister argued that if the Greek people vote against the austerity package, they will effectively be voting to leave the eurozone.

Mr Cameron urged leaders in the financial bloc to make sure contingency plans are put in place for both possible outcomes of the next election. He said drawing up "really clear plans" would help to keep European economies safe and stable.

This comes after foreign exchange specialist HiFX warned that uncertainty regarding Greece's political future is leading to tensions in the financial markets, with investors around the world becoming increasingly jittery.

Coaltion talks stalled because the Democratic Left party ruled out the possibility of forming a coalition with pro-bailout parties unless Syriza is part of the union. However, this party opposes austerity measures, which could put it in conflict with the European Union.

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