AUDIO: Euro collapse 'would blow European cooperation apart'

The whole point of the European edifice which began with the Coal and Steel Community in 1952 was the binding together of France Germany and other nations sick of war and the prospect of war, writes Justin Webb.

What they fear now is a disintegration which leads to new tensions - political as well as economic - at the heart of Europe.

Here in France we've set out this morning to get a sense of what this nation wants to do next. Which of the unpalatable choices the French might favour.

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UK sues the European Central Bank

14 September 2011 Last updated at 17:45 GMT The rule change could affect financial companies in the City of London The UK government is taking legal action against the European Central Bank (ECB) over a planned change to European banking rules that could harm the City of London.

The ECB's plans would require clearing houses that handle more than 5% of the market in a euro-denominated financial product to be based in the eurozone.

The Treasury says the move would contravene European law.

It has started proceedings at the European Court of Justice.

A Treasury spokesperson said: "This decision contravenes European law and fundamental single market principles by preventing the clearing of some financial products outside the euro area.

"The government wants to see this resolved swiftly and without involving the courts, but if necessary will not shy away from continuing legal action to make sure there is a level playing field across the EU for British businesses."

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