Wednesday, 28 September 2011

Very Difficult to Leave Euro, Says Hague

THE INDEPENDENT: William Hague has branded the eurozone a "burning building with no exits" amid frantic efforts to control the sovereign debt crisis.

The Foreign Secretary said he believed Germans would have to subsidise weaker members such as Greece for "the rest of their lifetimes".

Delivering the starkest comments so far by a senior British minister, Mr Hague also claimed the single currency was set to become an "historical monument to collective folly".

The intervention emerged as the president of the European Commission, Jose Manuel Barroso, warned that the EU faced its "greatest challenge".

However, Mr Barroso insisted Greece would remain in the eurozone despite fears that it will default on huge debts.

Interviewed for The Spectator magazine, Mr Hague referred to a remark he made as Tory leader in 1998 while running a campaign to 'Keep the Pound'.

"I described the euro as a burning building with no exits and so it has proved for some of the countries in it. But there are no exits," he said. » | James Tapsfield | Wednesday, September 28, 2011