Around 60% of the UK population is against joining the euro, according to a survey for Barclays Capi...
Around 60% of the UK population is against joining the euro, according to a survey for Barclays Capital, the investment banking arm of Barclays.
The monthly poll, which covered around 2,000 people, also found that only 25% of those who responded would vote to join the euro if there was an immediate referendum. The remaining 15% either did not know or said they would not vote.
There is not one region in the UK that is in favour of joining the European single currency, according to the group. It found that Scotland was most opposed, with nearly 60% more against joining the euro than are for it. The region least against the euro was the North-West but even there a net 20% were against single currency membership.
Of those who would vote against, 44% said nothing could persuade them to change their mind while only 8% said a strong case presented by the Government could make them alter their view.
The factors most likely to change the minds of anti-euro voters are economic, with 22% citing concerns that UK business would be hurt by the sterling exchange rate outside the eurozone and 22% also pointing to an expectation that prices would be lower if the UK joined the single currency.
David Hillier, chief UK economist at Barclays Capital, said: 'The euro is the biggest imponderable facing the sterling market and it is hugely difficult for investors to assess.
'Shifting perceptions of the probability of UK EMU membership have many market ramifications, including the appropriate entry level exchange rate, the shape of the gilt and sterling swap curves and credit spreads.'
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