Former British deputy PM Michael Heseltine has predicted that not only will the euro survive its current troubles, but that Britain will join up with the single currency. Speaking to the BBC, Heseltine argued that most Britons underestimate the degree to which Britain’s banks would suffer if the euro went belly-up.
While acknowledging that the eurozone is facing its greatest ever challenge, Heseltine said that he believed France and Germany would fine a way to push the single currency forwards. And it’s clear that he sees Britain’s increasing reliance upon the single currency as a precursor for the country’s eventual adoption of the single currency.
Resistance to joining the eurozone would likely be fierce in Britain, but Heseltine seems to believe that the economic arguments are compelling. Whether British prime minister has the stomach to push for the euro is another matter, since such a move could well cause massive splits within the Conservative party.