In 1997, in the back of a cab, Gordon Brown and Ed Balls drew up five tests for Britain’s membership of the European single currency. They were tests that could, in theory, be met at any time – but in practice, were intended to frustrate Tony Blair’s desire to join the Euro forever.
Today, George Osborne unveils his own five tests for David Cameron’s European Union renegotiation: support for the integrity of the single market, recognition that the European Union has more than one currency, voluntary participation in the banking union, British taxpayers to be protected from having to bailout the Eurozone countries, and protection for non-Eurozone countries if the union integrates further.
Subscribe to The New Statesman today from only £8.99 per month
Content from our partners
