Euro too weak for Britain - BoE's governor

Governor of the Bank of England Sir Edward George said Sunday that Britain cannot afford to contemplate joining the euro until it strengthens.

George warned that Britain would risk economic hardship if it scrapped the pound in favor of the euro at its current rate. Despite its recovery over the last month, the euro has lost about one quarter of its value against the dollar since its launch in January 1999.

Entering at the present exchange rate would put "uncomfortable" expansionary pressures on