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Is the UK government split on joining the euro?

While Minister for Europe, Caroline Flint, has today effectively ruled out a short-term move to join the euro this would appear to be seriously at odds with the views and opinions of Lord Mandelson for one. Slowly but surely the increasing pressure on the UK economy and the UK currency is seeing a number of cracks appear in the Labour Party at a time when teamwork and "singing from the same hymn sheet" are necessities. So what will happen to the UK currency?

As we covered in one of our early stories, the UK currency has effectively been cut adrift to market forces with Gordon Brown suggesting there will be no support strategy for the beleaguered UK currency. This is in direct contrast to former strategies from the likes of Gordon Brown with historic Labour governments targeting various exchange rate ranges to support the UK economy. However, in the short term it is the differing opinions on potential entry to the euro which is set to cause major problems within the UK government.

Historically, a fallout on Europe has been the domain of the Conservative party although bizarrely this now looks like being a significant concern for the Labour Party - fuelled very much by the return of Lord Mandelson. At this moment in time entry to the euro would appear to be a nonstarter but as ever these things can change in a very short space of time.

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