From the archives: In Euro by 2004, 16 May, 2002

TONY Blair yesterday moved to sound the death knell for sterling, signalling that he is ready to take Britain into the euro in two years’ time.

He claimed he was prepared to stake his place in history as the man who led the UK into the single currency. He also sought to put an end to speculation that he was at loggerheads with the Chancellor, Gordon Brown, on the issue and hinted strongly that a referendum could be held next year. If Britain voted “yes”, the pound could be scrapped just 18 months later. Downing Street suggested a timetable that could see Britain in the eurozone in no more than two and a half years’ time. Mr Blair confirmed Mr Brown’s five economic tests for the euro would have to be met by June 2003 at the latest. He said he discussed the outcome of the tests with Mr Brown “the whole time”, comments which were interpreted last night as an attempt to end speculation the men were at war over the issue.

• archive.scotsman.com