UK Foreign Secretary about euro - a king of historical monument to collective folly
Euro is “a burning building with no exits”, UK Foreign Secretary William Hague has said.
Once Conservative Party leader, Mr Hague ran a "Keep the Pound" campaign. In 1998 he said in an interview with the Spectator that Europe was now having to deal with the fallout from the decision to create the single currency.
"It was folly to create this system. It will be written about for centuries as a king of historical monument to collective folly. But it's there and we have to deal with it," he said.
Commission President Manuel Barroso has said the EU faces "its greatest challenge" in tackling Greek debt. He has also proposed an EU financial transactions tax, rejected by the UK.