Trends are moving regarding Britain joining the Euro. British consumers already receive less than a euro per pound when they exchange money at airports and traveling agencies, which marks a tipping point in the long-held assumption of the pound’s superiority. This comes after a year when the pound lost 17% against the euro, following a dramatic lowering of interest rates by the Bank of England.
The persistent devaluation of the pound is expected to prompt a shift in public opinion towards backing joining the euro. It is, however, very unlikely that will happen before the next government is well into its mandate. Admission of the UK to the Eurozone in the context of the discussion of the EU’s budget for the period 2014-2020 seems a likely scenario. Considering that London will host the Olympic Games in 2012, this comes like a probable date.