Tony Blair: Britse toetreding aan euro niet opportuun door economische omstandigheden (en)

UK prime minister Tony Blair has said that the time is not right economically for his country to join the euro.

Speaking on a BBC news programme on Sunday (10 January), Mr Blair said economic rather than political considerations would determine the decision.

"The issue is what is good for Britain's interest rates and investment and jobs", said the prime minister.

"The euro for me is an issue with a specific economic dimension because it's an economic union that you're joining. Even though politically there is a case for joining, economically there isn't that case at the present time".

Mr Blair is facing another tough referendum on the European Constitution which is expected to be called mid 2006.

The UK government decided, on the basis of five economic tests in June 2003, not to join the euro. The issue has since moved sharply down the political agenda.