Osborne’s pointed musings

George Osborne’s musings today on how Greece might have to leave the Eurozone before the Germans will act in order to save the single currency makes public the British government’s current thinking on the future of the Eurozone. In remarks the frankness of which have taken other parts of government by surprise, Osborne told The Times’s CEO summit:

‘I ultimately don’t know whether Greece needs to leave the Euro in order for the eurozone to do the things necessary to make their currency survive… I just don’t know whether the German government requires Greek exit to explain to their public why they need to do certain things like a banking union, eurobonds and things in common with that. I would suspect that if you had a eurozone finance minister here, they wouldn’t really know the answer to that.’