Brown reaffirms euro test results date

Source: Business & Finance

UK Chancellor of the Exchequer Gordon Brown today reaffirmed that the government would announce the result of its five tests on whether to join the euro "by the first week of June".

Speaking on the sidelines of a meeting of EU finance ministers, he declined to be drawn into commenting on the debate over the merits of euro entry.

"We've said in principle that we see the benefits of joining the euro, but we have subjected to these five economic tests, and I really have got nothing to add to that until I make my statement to the House of Commons in Britain," he said.

"I just repeat what I've said - that this report to Parliament will be made by the first week of June, as I've said on many occasions," he added.

Brown also said he would "need a period of reflection" before the European Central Bank's proposed strategy review.

"I think we'll look at the proposals that have just come from the European Central Bank in the last few days about the inflation target and how they propose to move forward in the way that they make their interest rate decisions," he said.