Tony Blair has warned Europe's leaders of the "catastrophic" consequences of the breakup of the eurozone, saying the current crisis was the most serious the European political project had ever faced.
The day after his former political ally Silvio Berlusconi resigned as Italy's prime minister, Blair told the BBC's Andrew Marr Show there had "never been a tougher time to be a leader" but said Europe's current cohort risked being "behind the curve".
The former prime minister continued to hold out the possibility that in the "very long term", Britain might still join the euro, should the single currency survive and stabilise.
He told Marr: "You've got to be careful of always being in a situation where you are just behind the curve of decision-making.
"What we could have done to stabilise this situation a few months back, you now have to do even more to stabilise it today."
Blair said he had always believed Europe's monetary union would require a fiscal union, and on Sunday he called for a "long-term framework of credibility", which included strong fiscal co-ordination.
"Right now for the single currency it's essential it's preserved, that the whole weight of Europe, of its institutions stand behind it."
He added: "If the single currency broke up, it would be catastrophic." » | Allegra Stratton, politics correspondent | Sunday, November 13, 2011
BBC: Tony Blair: Euro collapse would be catastrophic » | Sunday, November 13, 2011
Play BBC Video: »Tony Blair: Eurozone break-up would be ‘catastrophic’: Former British Prime Minister Tony Blair has said that the break-up of the eurozone would be "catastrophic" for all of Europe, including the UK. ¶ Speaking to the BBC's Andrew Marr, Mr Blair said the crisis was the biggest faced by the eurozone countries since the creation of the single currency. ¶ He added the choices to be made are "very difficult and very painful". » | Sunday, November 13, 2011
