Is the UK moving closer to adopting the euro?
Posted by seumasach on December 1, 2008
1st December, 2008
See also:
The Euro-Is Mandelson thinking the unthinkable?
The effects of the global credit crunch are forcing British politicians to re-evaluate the benefits of the UK adopting the euro, according to European Commission president Jose Manuel Barroso.
The value of sterling compared with other currencies has fallen during the credit crunch, making the euro currency a far more attractive option.
Speaking on a French radio show, the former prime minister of Portugal said: “We are now closer than ever before.
“I’m not going to break the confidentiality of certain conversations, but some British politicians have already told me, ‘If we had the euro, we would have been better off.’”
Barroso believes that while the current poor economic situation has emphasised the importance of the euro and the UK, Britain would not be ready to join the euro immediately, and that there was still much opposition from the British people.
Barroso continued: “I know that the majority in Britain are still opposed, but there is a period of construction under way and the people who matter in Britain are currently thinking about it.”
In These New Times 
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