Treasury Chief may Campaign for Euro - KTRE.com | Lufkin and Nacogdoches, Texas

06/08/03 - London, England

Treasury Chief may Campaign for Euro

 Britain's Treasury chief says he favors joining the European single currency in principle.

And Chancellor of the Exchequer Gordon Brown is suggesting he will try to rally skeptical Britons behind the euro.

Brown is expected to announce tomorrow that the economic conditions are not yet right for Britain to swap its pounds and pence for euro notes and coins.

But he told the BBC he would campaign for the "principle of the euro" after delivering his verdict.

The issue has split Britain. Most Britons have said they would vote against joining the single currency in a referendum.

Opponents argue it would weaken the economy and the nation's sovereignty if interest rates are set by the European Central Bank instead of the Bank of England.

Many also have a strong attachment to the pound notes and coins that bear Queen Elizabeth's image.

Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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