MOST voters remain opposed to Britain joining the euro 10 years after it was introduced, according to a poll.

Some 71 per cent of people are against entering the European single currency, with only 23 per cent in favour, an ICM survey found.

Respondents were also largely unswayed by the falling value of sterling against the euro, which has almost achieved parity with the pound.

Some believe the euro could even become worth more than the pound, given the forecast for further steep cuts in UK interest rates.

But the poll found that 69 per cent of people felt such changes made no difference to whether Britain should join the single currency and 14 per cent said it made them less inclined.

Only 15 per cent said that the pound's fall made them more keen on ditching sterling for the euro.

The pound's troubles have been compounded by recent economic figures suggesting the Bank of England will have to pull out all the stops to prevent a deep and prolonged recession.

The pound's weakness is also linked closely to the UK's public finances and debt levels, which have been deteriorating rapidly as the country sinks into recession. The situation has prompted speculation that now is the time for the UK to adopt the currency.

Last month, European Commission president Jose Manuel Barroso said the UK was "closer than ever" to joining the euro.

Business Secretary Lord Mandelson said the government maintained the long-term policy objective of taking the UK into the euro, though he insisted: "It's not for now."



Others argue that only by retaining the pound can the UK be in charge of its economic future. Dr John Whittaker, UK Independence Party MEP for the north west and an economist at Lancaster University, said: "It might be the euro's 10th birthday but we would be crazy to join the party. The credit crunch has now exposed its real weakness. While all economies are suffering, some eurozone countries are now in an impossible position. What these countries need is lower interest rates and devaluation but, stuck in the euro, there is nothing they can do."

The euro's 10th birthday yesterday was marked by Ukip protesters burning the currency outside the Bank of England.

When the euro was launched 10 years ago it became the official currency for 11 member states of the EU.

It began trading on January 4 1999, at just 71p against the pound and has since traded at an average of 67p against the pound.

The euro hit an all-time low against the pound of 57p in May 2000 but recovered to reach this week's record high.

Slovakia became the latest member of the euro area yesterday, taking the number of countries where it is official currency to 16.