Default will spell ‘euro’s demise’

A DISORDERLY Greek default could result in the demise of the euro, according to the non-executive chairman of Goldman Sachs International, Peter Sutherland.

The former EU commissioner and Irish attorney general, told the Institute of International & European Affairs the next few weeks will be of great importance and potentially dangerous, not least because many countries, including Germany, still have to adopt the legislation necessary to give effect to the agreement of July 21 increasing the funds of the EFSF to €440 billion.

Greece is another reason for concern.