The British Prime Minister, Mr Tony Blair, has said he will keep open the option of a referendum on joining the euro before the next general election, expected in 2005.
"We said we would return to that issue again next year and I see absolutely no reason for this country to say it will foreclose its options and rule out membership of the single currency," Blair told parliament on today.
Asked by opposition Conservative leader Iain Duncan Smith to confirm that there would be no referendum before the next election, Blair replied:
"No I certainly won't confirm that. We should keep our options open because the right test to apply is whether it is in the economic interests of this country."
After Swedish voters rejected euro membership in a referendum on Sunday, campaigners on both sides in Britain said the odds of a vote in Britain before the next election had evaporated.
Sweden, Britain and Denmark remain outside the euro zone.
Blair has long said he is in favour of joining the euro as long as the economics are right and has pledged to hold a referendum on the issue when they are.
In June, Chancellor of the Exchequer Gordon Brown said the right conditions were not yet in place but pledged to look again early next year.