A £ by any other name

I have a feeling that I read about 12 months ago somewhere in the Blogosphere, intimations that the £ was going to lose its value against the Euro and that when parity was reached we'll see further developments towards linking into it with a view to our entering the zone. Not much longer to wait to see if mutings begin when parity happens then!

The 5 point key test for entry is whether the UK economy is coming together with those of countries in the Eurozone and whether this can be sustained in the long-term. The second test, linked to this, is whether there is sufficient flexibility to cope with economic change.

The remaining three tests assess the impact of joining the Euro on jobs, on foreign investment and on the financial services industry. I've always understood the first key test was met, but the others weren't. Perhaps parity would indeed go towards meeting them.

nick