Bank chief explains UK euro delay

UK - Sir Edward George, the governor of the Bank of England, has placed the loss of control over interest rates as a major reason behind the UK's reluctance to adopt the euro.

Britons were also sceptical over the level of regulation in other parts of the European Union, Sir Edward told a seminar in Spain.

But he called Europe's single currency a "fantastic success" and praised as an "absolute triumph" the introduction of notes and coins.

His comments came as union leader Roger Lyons prepared