Euro facing “slow death”

Jack Straw has predicted the collapse of the eurozone and urged the UK to consider the "alternatives" as the Greek debt crisis worsens, BBC said.

The Labour MP and former foreign secretary of Great Britain said the euro was facing a "slow death" and the 17-member eurozone "cannot last" in its current form.

He was speaking as MPs discussed the prospect of a fresh bailout for Greece.

London Mayor Boris Johnson is among a growing number of UK politicians to call for Greece to leave the eurozone.

Mr Johnson told The Daily Telegraph: "The euro has exacerbated the financial crisis by encouraging some countries to behave as recklessly as the banks themselves.

"We are supposedly engaging in this bail-out system to protect the banks, including our own. But as long as there is the fear of default, as long as the uncertainty continues, confidence will not return across Europe."