ECB says no to Britain in the Euro

Story link: ECB says no to Britain in the Euro

I should this we probably don’t meet the criteria, looking at current levels of debt and the possibility of a lot more in the future, why would a currency that has a lot more stability than ours want to let us in on the deal.

ECB says no to Britain in the Euro

“Great Britain does not meet the entry criteria for the euro,” said Lorenzo Bini Smaghi, the ECB’s board member in charge of international affairs.
“The public deficit will rise to around 6pc (of GDP) in 2009 and even higher in 2010. Sterling’s exchange rate is not yet sufficiently stable,” he told Italy’s La Repubblica newspaper.