Issing says has no problem with UK govt EMU tests

European Central Bank Chief Economist Otmar Issing said on Jan. 24 he had no problem with the British government's self-imposed "five tests" on euro zone membership, noting Britain had a formal opt-out from EMU.

"The UK has this option clause...so it has an option to decide whether to apply or not and for that, establishing national tests is fine. It's a competence for the government," Issing told the European Parliament's economic and monetary affairs committee.

He added, however, that "when t

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