UK said 'unlikely' to adopt euro soon

The government has said key economic tests have yet to prove that joining the 16-nation euro zone would benefit Britain.

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July 15, 2009 09:12

It is unlikely that Britain will adopt the euro common currency any time soon, Business Secretary Peter Mandelson said Tuesday. The government has said key economic tests have yet to prove that joining the 16-nation euro zone would benefit Britain. The public also remains skeptical about tying the British economy to that of European neighbors. "The prospect and chances of us joining the single currency early on are not strong," Mandelson told reporters. Though Mandelson has long supported Britain adopting the euro, he said it would take "quite many years, more than I would like," for that to happen. Opinion polls have consistently shown that a public referendum on membership would be rejected.


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