In Britain, our Chancellor of the Exchequer devised five economic tests to assess the impact that the Euro would have on the UK. They include things about interest rates, growth, jobs, and flexibility. Basically, they would be very hard to fulfill, especially having the ECB setting interest rates for Britain. The rejection of the EU consitution in a raft of EU countries also suggests a growing disillusionment with the EU as a whole. It seems unlikely to me that this Labour government would care to pursue such a matter considering the state it is in now.