Whether you agree with me, disagree with me, like me or loathe me, don't bind my hands when I am negotiating on behalf of the British people.
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