Crisis mgmt hit by joining euro, UK Lords say

The government's ability to manage the economy in a crisis could be hamstrung if Britain joins the euro, a House of Lords committee warned today.

The cross-party European Union committee, made up of senior peers, said that while there were many economic advantages to membership of the single currency, the ability of the system to cope in a crisis was as yet unproven.

It said nations could find their hands tied by the stability and growth pact - the strict rules governing tax and spending intended

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