Posted by Mark ThompsonForeign exchange markets could be impacted by comments from Lord Heseltine suggesting that the collapse of the euro would have a "catastrophic" impact on the UK's economy.Speaking to BBC TV's Politics Show he stated that it is likely Britain will have to join the single currency in the near future, despite the ongoing turbulence in the eurozone."I think the chances are the euro will survive because the determination, particularly of the French and the Germans, is to maintain the coherence that they have created in Europe," the former deputy prime minister said.He added that European banks owe British banks large sums of money, which means that if they collapse a knock-on effect will occur.This follows comments made to the Sunday Telegraph by mayor of London Boris Johnson suggesting that it would not be the right move for a centralised European government to be formed.Instead, he suggested that some nations should be allowed to leave the euro, at least for the immediate future.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site