George Osborne
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Chancellor George Osborne urges action over eurozone debt crisis

UK Chancellor George Osborne has warned that time is running out to tackle the eurozone debt crisis.

Speaking in Washington to the BBC's Stephanie Flanders, where finance ministers from the G20 group of leading economies are gathering, Mr Osborne said European leaders had ''weeks not months'' to sort out the problem.

There has been a week of volatility on the world's share markets, with the main share indexes in London, Paris and Frankfurt all falling about 4% over seven days.

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