A TWO-DIVISION Europe in which debt-burdened southern nations are handed back their own national currencies is the most "likely outcome" of the current debt crisis, former Liberal Democrat leader Paddy Ashdown declares today.
One of Britain's strongest advocates of closer European ties, and of British membership of the single currency, Lord Ashdown says he now sees no future for the euro in its current form.
Instead, he says that a new "core" euro area, made up of Germany, France and other northern European nations could be retained, with the more indebted southern nations allowed to devalue their own currencies in the bid to return to health.
For Paddy top be rolled out to say this means it must be serious. Run to the shelter when Fatty Pang is brought on and if a Kinnoch appears then it really is all over.