A new poll has dealt a significant blow to campaigners advocating for the United Kingdom to rejoin the European Union. The survey, conducted by YouGov for the pro-Brexit group Britain Unbound, reveals that nearly half of Britons would be less likely to support rejoining if it required ditching the pound sterling for the euro.
According to the poll, 49% of respondents said that a requirement to use the euro would make them less likely to support EU membership. An additional 11% indicated that it would make no difference as they were already opposed to rejoining. Only 5% of those surveyed said they would be more likely to support rejoining under such conditions.
Euro Adoption Requirements
Officially, all EU member states except Denmark are obligated to adopt the euro and join the euro area. The European Commission states that adopting the single currency is a crucial step in a member state's economy, with monetary policy transferred to the European Central Bank.
The poll also found that 40% of people would be less likely to support renewed EU membership if interest rates were set by the European Central Bank rather than the Bank of England.
Political Reactions
Steve Wright, director of Britain Unbound, commented: "The very notion of rejoining the EU under the obligations that would have to exist is a complete non-starter. The UK needs to move on from the continued navel-gazing and attempts to reverse majority decisions, and instead focus on taking advantage of the opportunities that Brexit has handed back to the UK people."
Economist Julian Jessop, a member of Britain Unbound's executive committee, added: "There is now a mountain of evidence that support for rejoining the EU crumbles when the costs and conditions are revealed. We Brits still value our sovereignty and do not want to hand control back to Brussels."
Former Chief Brexit Negotiator Lord Frost said: "Every time the British people are asked to contemplate the real conditions for rejoining the EU, the supposed majority for it evaporates. And rightly so. British voters voted against membership for good reasons even on the terms available at the time. Why would we want to go back on conditions that are even worse?"
Conservative peer Lord Redwood remarked: "Voters remember the high costs and taxes and the anti-business regulations when we were in the EU. Our growth rate halved as members compared to the 20 years before we joined. Why inflict more self harm? Why volunteer for higher taxes to pay for EU big bills and growing debts?"
Pro-Remain Perspectives
Joe Meighan of the European Movement UK offered a contrasting view: "Any future discussion about the UK's relationship with the European Union would involve a wide range of issues, from trade and security, to education, mobility and economic cooperation. Membership of the euro is just one element of the whole question. It is certainly not a given. The reality is that the UK is a long way from meeting the economic conditions required for euro adoption in any case, given current levels of government debt and borrowing."
Notable Labour figures, including potential leadership contenders Wes Streeting and Andy Burnham, have expressed a desire for the UK to rejoin the EU in the future. However, Burnham has since stated that the "last thing we should do right now is re-run those arguments."
There is no strict timetable for EU member states to join the eurozone. Eight of the 13 countries that have joined the EU since 2004 have adopted the euro, with Bulgaria being the most recent to do so at the start of the year.
