Former European Commission President Mr Jacques Delors says Britain was justified in opting out of joining the euro and will probably stay out of it for years, according to an interview.
Mr Delors, one of the architects of European currency union, told the Timesnewspaper Britain's stance was sound because the EU had lost its way and failed to take advantage of the euro.
"We have not succeeded in maximising the economic advantages of the euro, one can understand the British...saying 'Things are just fine as they are. Staying out of the euro hasn't stopped us prospering'," Mr Delors told the paper.
The British government said last June that five economic tests it had set as conditions for joining the euro had yet to be met.
Since then the government has published a draft bill to prepare the ground for a possible referendum on joining the euro, but most commentators rule this out before the next general election expected in 2005.
Twelve of the 15 EU countries ditched their own currency for the euro in 2002. Along with Britain, Sweden and Denmark also remain outside the eurozone.