Thursday, January 8, 2009
Looks like the Euro is not even an option now. We’re on our own!
"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.