Eddie George called the launch of euro cash a "technical success" but warned of risks posed by single European interest rates. "It (the euro) is a technical success and it is a great achievement and it is an historic moment and I recognise that as well as anyone," George told BBC television's World Business Report in an interview to be broadcast today. But he added: "The risk is that a single interest rate which has to go with the single currency is not going to be appropriate for all the member countries at the same time." George also said in the interview that UK interest rates may have to be raised to moderate consumer demand.