Michel Barnier stated that the United Kingdom could negotiate an exemption from adopting the euro if it ever sought to re-enter the European Union. However, he warned that the rules governing the customs union and single market, particularly the free movement of people, remain entirely non-negotiable. Barnier noted that while new members typically face a legal requirement to use the euro, six current European Union member states do not use the currency and Denmark holds a formal opt-out. His intervention directly rebuts assertions from Reform UK leader Nigel Farage, who claimed the UK would be forced to adopt the euro.
Key points
Rejoining the European Union would not strictly force the United Kingdom to abandon its d…: Rejoining the European Union would not strictly force the United Kingdom to abandon its domestic currency for the euro.
Any future return to the European single market requires full acceptance of the free move…: Any future return to the European single market requires full acceptance of the free movement of people.
European officials remain firm that prospective members cannot cherry-pick single market…: European officials remain firm that prospective members cannot cherry-pick single market rules or treat membership a la carte.
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Good morning. Andy Burnham is back from the Commonwealth summit, but the Commons is on mini-recess until Tuesday, and there is not much in the political diary for today. But Nigel Farage, the Reform UK leader, will be holding a press conference, which means reporters will have the chance to ask him why his eve-of-poll “I don’t go with the consensus that Trump is going to get smashed” prediction turned out to be so wrong.
Another recent claim from Farage has been that, if the UK were to reapply to join the EU, it would have to sign up to the euro. This allegation was never taken particularly seriously by people who actually know how the EU works; while new members are theoretically obliged to sign up to the euro, six of the 27 current members do not use it, one has a formal opt-out (Denmark), and there is plenty of precedent to suggest the EU would easily accept a fudge giving the UK an opt-out.
This morning this has been confirmed by Michel Barnier, who was the lead negotiator…
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