Well 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 MajorIf you look back historically, admittedly a long time ago, there were three Afghan wars in which Britain didn't even come a good second. In more recent years the Russians were there with 120,000 men for ten years.
John MajorI have been reading the press more regularly than others over 50 years and it seems to me that there are things that have changed in the press that have changed its character.
John Major