Ex-Buba's Pohl sees euro threat

Pohl, who was regarded as a reluctant supporter of the euro, told Sky News, a broadcaster: "I think there are countries which are considering whether to leave the eurozone but this is not possible. It would be very expensive. The exchange rate would go down significantly by 50% to 60% and interest rates would go sky high because the markets would lose confidence."

Pohl said he didn't want to "name names" but said heavily indebted members were most at risk. The most heavily indebted members are Italy and Greece.

Pohl said that if any country in the eurozone defaulted on its debt the International Monetary Fund would be the right organisation to help, but he noted that the Fund needed more money. German politicians were, he said, concerned that they would end up bailing out any eurozone member whic defaulted on its obligations.

Pohl was president of the Bundesbank from 1980 until 1991.