"Chancellor still procrastinating" says Alliance

12.00.00am BST (GMT +0100) Mon 9th Jun 2003

Reacting to Chancellor Gordon Brown's statement on the United Kingdom joining the Euro, the Alliance Party's Co-ordinator on the Euro, Colm Cavanagh, has said that the time is now for the Government to show political commitment to joining, by publishing a firm timetable for a referendum.

Mr Cavanagh said:

"I welcome the Chancellor's robust arguments of the economic case of joining the Euro.

"But the Chancellor should have also provided firm political leadership, by setting the UK on the path to membership, with a firm timetable for a referendum.

"The longer that the Chancellor procrastinates, the greater the economic consequences, particularly for a border region such as Northern Ireland.

"The Alliance Party does welcome the announcement made today by the Secretary of State for Northern Ireland, Paul Murphy, that there will be a specific, new Northern Ireland body that will oversee planning for the Euro.

"As Northern Ireland is the only region of the UK that borders the Euro-zone, it is right that we advance our local preparations for inevitable European monetary union."

/ENDS