Britain's Prime Minister David Cameron
Britain's Prime Minister David Cameron came under pressure over the EU on the eve of the vital summit. Reuters

A "bunged-up" Labour leader put the Prime Minister under pressure over the state of youth unemployment during a feisty PMQs session in the House of Commons.

Although Ed Miliband was clearly unwell, the Leader of the Opposition was quick to suggest that the banks should be paying more in tax so that 100,000 jobs could be created for young people.

David Cameron criticised his opponent for using another banker's levy to pay for a Labour policy - the Prime Mnister said that Labour had used a "new bank tax" nine times to support different polices, making a mockery of Miliband's plan.

Nevertheless, Mr Cameron, who mentioned that Britain grew last quarter by 0.5 percent, which was the same rate as both Germany and the United States and higher than the EU average, came under attack from Mr Miliband for "being out of touch".

Economists suggest that he may be right.

Early indications in Q4 are that the UK's economy is contracting. The Centre for Economics and Business Research, a well-respected think tank, said that the Bank of England will have to pump more money into national banks to encourage them to lend. If this happens, inflation is likely to continue to rise at a time when the middle classes are already feeling squeezed.

Miliband also coined a new soundbite, calling Cameron's administration ABC - blame "anyone but Cameron".