In housing in the fifties in Britain and the sixties, we pulled down the terraces - destroyed whole communities and replaced them with tower blocks and we built walkways that became rat-runs for muggers. That was the fashionable opinion. But it was wrong.
John MajorWhen your back is against the wall, there is only one thing to do, and that is turn around and fight.
John MajorWell what would happen is that if Greece defaulted and couldn't pay its debts, all the Greek bonds that are held in other banking systems across Western Europe would suddenly have no value. You could as a knock-on effect create a banking crisis in Western Europe.
John Major