LONDON (AP) — Former British Prime Minister Tony Blair says the eurozone can survive only if Germany agrees to underwrite the debts of the currency union's financially struggling members.
He told BBC television Sunday that safeguarding the euro “means treating the debts of one as the debts of all.”
Blair says “the only thing that will save the single currency now is … a sort of grand plan in which Germany is prepared to commit its economy fully to the single currency.”
In return, other eurozone nations must implement sweeping reforms, he says.
Blair, who left office in 2007 and stood down as leader of the Labour Party, insists Britain could in the future join the euro.
Prime Minister David Cameron, of the rival Conservative Party, vows that won’t happen during his tenure.
