Europe faces the potential break-up of the single currency unless it takes urgent action to deal with the euro crisis, David Cameron warned today.
Responding to questions about the prospects for the eurozone, Cameron told the House of Commons: "It either has to make up or it is looking at a potential break-up. That's the choice they have to make and it is a choice they can't long put off."
It was the first time that the PM has referred so dramatically in public to the possibility of the euro splitting up as a result of the current crisis over Greek debt, and comes just two days after Chancellor George Osborne warned that "open speculation" about the future of some eurozone members was damaging the European economy.
Aides said the PM had discussed his comments in advance with Osborne, but stressed that he was not predicting the break-up of the euro.
"He would obviously rather it was 'make up'. There would be huge implications for us if it was the 'break-up' option," said one source close to the PM.
Aides declined to say whether the UK believes Greece should stay in the euro, insisting that was a matter for the Greek people to decide.
Miliband and Cameron also took the time during prime minister's questions to exchange jokes about the news that the PM signed off his text messages to Rebekah Brooks with "LOL".