Could Britain Make A Radical Change And Switch To The Euro?
The possibility is in the air that Britain could abandon the GBP (Great Britain Pound) and switch to the Euro, the currency adopted by Ireland and most of Western Europe (with the exclusion of Denmark, Sweden, Switzerland and Norway). However, there is much opposition in Britain about this possibility.
But, it does not necessarily mean that the possibility will get shot down immediately.
PARIS (AFP) – The international financial crisis has set off a radical change in thinking in Britain about the euro, EU commission chief Jose Manuel Barroso said Sunday.
While acknowledging the majority opposition in Britain to embracing the euro, Barroso told French radio: "We are now closer than ever before."
He added: "I'm not going to break the confidentiality of certain conversations, but some British politicians have already told me: 'If we had the euro, we would have been better off'."
Regardless, it is still a bit early to speculate on whether Britain will adopt the Euro in the future or not.