Terry Smith, Chief Executive of Tullett Prebon, has compared Britain's isolation from the EU to "someone who refused to join the Titanic before it sailed" as "there is nothing that guarantees that the euro will survive at all".

He adds that the countries on the periphery of the EU, "including France", will struggle "to become competitive if they remain in the single currency".

The agreement, he believes, will lead "to more austerity" for those countries to take part.

Get in touch with Today via email , Twitter or Facebook or text us on 84844.