“I mean who is actually in charge of this? This incredible bureaucratic structure of unelected people and the buck doesn’t stop with anybody. So we now face the real doom scenario for the euro that if the Italian government can’t finance its debts, where on earth are two or three trillion euros going to come from to bail out Italy?
"So it looks to me, and I’ve been saying this for some time on your program, that I always felt this thing would fail. But I think we are very much nearer to the failure being really huge and possibly very dramatic indeed.”