Euro Membership At A Price?

The report that the Prime Minister and the Chancellor have drawn up a timetable for a Euro referendum is hardly a revelation. Tony Blair has repeatedly made clear that an examination of the 'five tests' will take place within the first two years of this parliament and that they will have to be met before a referendum is called. The Treasury has predictably already gone out of its way to deny the suggestion that an accord has been reached. Given its fears of a slide in Sterling this is not altogether surprising. Whether it also reflects Gordon Brown's greater caution on the subject ...