BusinessCompany NewsUK to join Euro by 2004, says Griffiths

UK to join Euro by 2004, says Griffiths

Small business minister Nigel Griffiths - a close political ally of chancellor Gordon Brown - has predicted the UK will join the Euro within two years.

In what was seen at Westminster as a significant political development in the single currency debate, a Treasury spokesman said Brown was ‘relaxed’ about the Edinburgh South MPs views which, he said, were ‘perfectly consistent’ with his own.

Griffiths said it was his ‘hunch’ that the five economic tests would be met in June next year and entry to the Euro would follow within months.

But business leaders said there was still ‘significant’ opposition to scrapping the pound and that Griffiths’ timetable was too short for firms to make the changeover.

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