"He's got a point," Blair told Fox News' Fox & Friends. "Everyone’s in a global economy today. If Europe goes bad, then it will affect you, it’ll affect us. The U.K is not in the single currency, but if there is a chill wind blowing through the single currency area, it immediately impacts on us. So we've got to hope that the European economy sorts itself out, that the changes that they make are changes that will save the single currency and then we can move forward. But at the moment, it's still very shaky."