LONDON – Britain will eventually join the euro, Tory grandee Lord Heseltine has claimed.
The former deputy prime minister said the public had “no idea” about the potential impact its collapse would have on Britain.
However he believed Franco-German “determination” would secure the euro’s future and pave the way for Britain to sign up.
Lord Heseltine, who now heads the British government’s regional growth fund, told BBC1’s Politics Show yesterday: “I think we will join the euro. I think the chances are the euro will survive because the determination, particularly of the French and the Germans, is to maintain the coherence that they have created in Europe.
“Now they have got a hell of a problem, let’s be frank about it, but my guess is that they will find a way through.
“I hope they will because the downside for the British economy of the euro going under is catastrophic.
“People have no idea of the scale of money British banks are owed by European banks.” – (PA)
