Britain may join euro based on "economic conditions"

The UK may join the euro if the "right economic conditions" are met, according to Europe minister Caroline Flint.

Speaking to the Metro, Ms Flint said a decision would be made based on a number of factors.

"We have identified five tests that have to be met - convergence with other European economies, flexibility, impact on investment, the impact on the financial services industry and growth stability and employment," she explained, adding so far these criteria have not yet been met.

The newspaper suggested these comments will add to speculation surrounding ministers' willingness to join the single European currency.

They follow a statement made by Conservative leader David Cameron earlier this week, promising to retain the pound irrespective of conditions.

However, Ms Flint added countries which use the euro are also currently faring badly and adopting it in the UK may not solve its financial problems.

The issue of the European currency has been discussed this week by a roundtable comprising current and past MEPs, journalists and financial experts, a decade since its introduction.