If the euro zone doesn't come up with a comprehensive vision of its own future, you'll have a whole range of nationalist, xenophobic and extreme movements increasing across the European Union. And, frankly, questions about the British debate on EU membership will just be a small sideshow compared to the rise of political populism.
Most of what needs to be changed in the euro zone can be done without treaty changes. The demand for treaty change is as political as it is legal and I don't think it's going to happen soon.
We are keen to stress that a strong euro zone is good for a strong United Kingdom. It's not for us to write the changes that the euro zone needs to embark on.
You've got some very powerful countries: Poland, the United Kingdom, Sweden and others who have a genuine desire to see the euro zone straighten itself out. It's good for all of us, whether you're in the euro zone or not, to make sure that it doesn't lead to a fracturing.
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