Nick Clegg: Speech to the Yorkshire Post Excellence in Business Awards  

"Anyone who still thinks that the troubles in the Eurozone are somebody else’s problem is, frankly, living in fantasy land. "The twin banking and sovereign debt crises – if left to rage on – could eclipse the 2008 financial meltdown. "And, if that happens, the UK will pay a very heavy price. "For one, our financial sector doesn’t operate in a vacuum... "Failure to recapitalise Eurozone banks could, in a worst-case scenario, have serious repercussions for lending here at home. "The positive noises we are hearing about progress on European bank recapitalisation plans are therefore extremely welcome. "But this isn’t just about London’s Square Mile. "Businesses up and down the country – your businesses – depend on a healthy and stable Europe. "Over half of all exports from Yorkshire and the Humber go to our European neighbours. "In 2010 alone,...