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Boris Johnson calls euro a 'calamitous project'

4 December 2012 Last updated at 10:47 GMT

Mayor of London Boris Johnson has called on the UK to negotiate a new "pared-down relationship" with the European Union.

Mr Johnson said the euro was a "calamitous project" and said a referendum should be held in Britain asking whether people wanted to stay in the EU single market if renegotiated.