In fact, the prime minister was, as usual, far more animated and enthusiastic about the whole euro project than the chancellor, who again repeatedly underlined his famous five tests. Public opinion is pretty solidly against the euro: opinion polls show about two-thirds of Britons would vote against, almost half of whom are die-hard europhobes. It also defines the role of the EU institutions. This decision does not even begin to end the speculation. For the Tories, however, this had been the chief justification for membership. "It's not prepare and decide, it's not wait and see, it's hope and pray. Many of its structures were created to manage a union of six states - soon the EU will have 25 states. "This is a long way from where it is now and sterling is being whacked by this," said Ray Attrill, head of research at 4cast. Its aim is purely to examine how the EU should work in the future. The European Strategy Committee will have regular meetings to co-ordinate the pro-European effort across Whitehall. "I don't believe the government is in any way going to be having a referendum because the truth is they are running scared of public opinion. This effectively signals the start of a Government 'yes' campaign. "Far from being left behind and "at the back of the Grid" as Peter Hain suggests, Britain is in the fast lane," she said. The FT can hardly contain its frustration at his failure to reach a conclusive decision on the single currency. But Mr Blair's official spokesman said there was nothing new in Ms Short's criticism. They say they have huge constitutional implications for the UK, with more power taken away from government and parliament. The Independent's analysis runs to 12 pages - including opinions from a cast of celebrity chefs, novelists, sports commentators and actors. Mr Brown said it was time to sweep aside anti-Europeanism. And it says it must converge in a "sustainable and durable" way. But the two remaining tests - on investment and jobs - are only passed conditionally; they hinge on the convergence test. But for most of the eurozone countries this is just the latest in a series of transformations. A stronger euro means European exports become less competitive, while a lower dollar helps US exporters by making their goods cheaper abroad. But he added: "We will have to make a judgement on what happens in the coming year. The European Strategy Committee will have regular meetings to co-ordinate the pro-European effort across Whitehall. "Today the chancellor's warm words suggest 'yes' and we welcome that. "This is a long way from where it is now and sterling is being whacked by this," said Ray Attrill, head of research at 4cast.
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