John Major on The Andrew Marr Show
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Greece must default, says former PM Sir John Major

Former Prime Minister Sir John Major has told the BBC that European banks need to recapitalise and "Greece needs to default" on its debts, to help bring an end to the eurozone debt crisis.

He told Andrew Marr it would be "catastrophic" if the country defaulted before the banks had enough money to cover their losses.

You can watch the Andrew Marr Show in full on the BBC iPlayer

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