Newspaper review: Papers ponder EU summit outcomes

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Media captionA look at the first editions of the UK papers

If the Euro fails, says the Financial Times, the impact will be "staggering".

Commerce "within Europe and beyond" could be paralysed, it says; "political relations would be poisoned for years."

The Daily Telegraph says "every bank in Europe" would go bankrupt, British output could fall by 10%, while unemployment would rise towards towards four million.

Yet, the Times comments, seven European summits have been held so far this year and all failed to contain the turmoil.

Referendum demands

The Telegraph is concerned that the prime minister has left "many in Britain baffled about his intentions" at the EU summit.

The Daily Mail suggests that may be because "from the point of view of political management, his position has become more impossible by the day."

The Eurosceptics in Tory party - now "a substantial majority", it says - demand a referendum.

They have the support of the Daily Express which argues that the British people should have a vote.

Leadership call

The Sun says Mr Cameron will need the skills of Houdini to get out of this tight spot.

And it urges him to "show the leadership his country and party need".

The Independent says "securing Britain's place in Europe" is more important than defending the interests of our financial services sector.

The Guardian argues it might be better to let the City fend for itself and devote "some tender loving care" to British manufacturing, instead.

Exam investigation

The Daily Telegraph offers a mass of material to support its allegations of misconduct by GCSE and A-level examiners.

It says they have been passing on "hints, tips and clear instructions" to teachers about the contents of examination papers.

A cartoon in the Financial Times shows a maths teacher confronting a pupil.

He says, "with these results you could work for the Department of Education -and that's not a compliment."

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