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Europe

Blair wants to take UK into euro by 2007

British Prime Minister Tony Blair is determined to take his country into the euro by 2007, reports the Independent newspaper.

In order to secure this ambition, Blair wants the Government to make a public pledge that the UK will join the currency. Mr Blair intends to call the referendum soon after the next UK General Election, which is expected to take place in May or June next year, writes the British daily, without citing specific sources. But the Chancellor Gordon Brown is believed to be strongly against the idea of a public announcement by the Government. Mr Brown believes that Britain should not rush into such a crucial economic and political decision. He also thinks that such a declaration would prejudge the economic analysis his department is conducting into Britain's membership of the euro. According to the Independent, the most likely compromise could be that the Prime Minister and Chancellor would agree the target in private and work towards it. (EUobserver.com)