Reports: Blair to 'intervene' in Britain's EU future

Tony Blair is to intervene in Britain's Future in Europe and will warn that disengaging from the European Union's "top table" would be a disaster for the UK Economy, according to reports.

Blair will seek to rally the business community behind a campaign to halt the Eurosceptic bandwagon at a speech in London, according to The Observer.

The newspaper reports that he will say because major economies such as China, India, Brazil and Russia are emerging as global competitors, EU membership has never been more important.

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PM defends EU budget position

David Cameron has defended the collapse of talks aimed at agreeing the EU budget, saying: "We are not going to be tough on budgets at home and sign up to big increases in European spending in Brussels."