LONDON, June 10 (UPI) -- British Prime Minister Tony Blair Tuesday expresses cautious support of the possibility of adopting the euro as Britain's currency.
One day after Blair and the Labor Party Chancellor Gordon Brown made their annual statement to parliament, the men went on a media offensive to sell the "yes but not yet" line of Monday's euro statement, The Guardian reported
Blair said a referendum before the next election was a "possibility," although he refused to give odds on it.
On the positive side, he pointed out 12 of the 15 current European Union members share the euro and only Britain as an exception has no referendum planned soon.
He stressed the need to join at the right exchange rate. The last time the matter was debated in parliament was six years ago, when there was a large gap between the British and EU economies.
