British Prime Minister David Cameron is launching an attack on Europe for failing to deal with its "perilous" financial crisis, and believes the euro doesn't have the qualities of a successful single currency.

Cameron also tells the World Economic Forum that Europe should bypass the Doha talks on a world free trade deal in favour of seeking separate agreements with the U.S. and others. Yin Hang has further details. 

Speaking at the World Economic Forum in Davos, the British Prime Minister took aim at the EU's lack of competitiveness, describing it as the bloc's major problem.

David Cameron, British Prime Minister, said, "Europe's lack of competitiveness is its Achilles heel. For all the talk, the Lisbon Strategy has failed to deliver the structural reforms we need. The statistics are pretty staggering. As measured by the World Economic Forum, more than half of EU member states are now less competitive than they were this time last year."

The Prime Minister's view on the future of the euro could be seen as fuelling tension with France and Germany. His comments come just weeks after being accused of "interfering" by French president Nicolas Sarkozy.

Cameron is also calling on Europe to bypass the Doha talks on a world free trade deal in favour of seeking separate agreements with the United States, Africa and other willing parties.

David Cameron, British Prime Minister, said, "I'm not going to give you the standard speech on Doha. Last year, at this very forum, world leaders called for an all-out effort to conclude the Doha round in 2011. We said it was the make-or-break year. It was. And we have to be frank about it. It didn't work. But we must not give up on free trade. Let's step forward with a new and ambitious set of ideas to take trade forwards."

Cameron's comments at the World Economic Forum in Davos are in stark contrast to the position of most world leaders who have for years called for a final push to conclude the complex trade negotiations, which were launched in Doha in 2001.

The prime minister is also urging the European Union to wrap up talks on free trade agreements with India, Canada and Singapore by the end of this year.