In 2011, Ferguson predicted that "Grexit" (the notion of Greece leaving the Euro currency) was unlikely to happen, but that Britain would leave the European Union in the near future as it would be easier for Britain to leave the EU owing to the fact it was not part of the Eurozone and that returning to a national currency would be harder for countries who had signed up to a single currency. In 2012, he described the Eurozone as a "disaster waiting to happen."