15 May 2003, 13:49  Blair "accepts decision" against euro

British PM Tony Blair has accepted that the time is not right for the UK to adopt the euro, according to a report this morning. He is said to have accepted a conclusion reached by his chancellor Gordon Brown that five economic tests set by the Labour government have not been met. News of the PM's acceptance is being reported this morning by the BBC, though Downing Street is dismissing the report. A spokesman there said Mr Brown would be releasing his assessment on the five tests in the near future.
The spokesman said very few people knew what was going on, and the BBC's reporter was not one of them. Mr Blair is already coming under pressure to rule out a referendum on the euro before the next UK general election, and this morning's report is likely to increase that pressure. //www.fxcentre.com

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