UK Labour election victory brings spectre of euro entry
FRONT PAGE NEWS
LONDON -- The ruling Labour party won the UK general election by a large margin last week, but sterling was dumped to 15-year lows amid speculation that the result could bring UK eurozone entry closer.
"There will have to be some kind of clarification now," Jane Foley, currency strategist at Barclays Capital in London told FX Week. "[Prime minister Tony] Blair or [chancellor Gordon] Brown must stand up in the next six months and make the government’s position clear."
Entering Europe’s single
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