In the current issue of MoneyWeek he is quoted as saying,
He isn’t so sure: he can’t see how any rule can be made so robust that Greece can’t ignore it. That the eurozone leaders will introduce a Eurobond is improbable but possible. That it will work beyond the short term? Impossible.
Given that Mr Fergusen has been an ardent Europhile all his life this is pretty depressing for those still committed to the European Project. This is a man who was arguing that the Tory European policy should follow John Steven's pro-European Cobnservative Party.