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U.K. should stick to the sidelines on euro

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Would joining the euro zone improve Britain’s global economic position? My colleague Edward Hadas sets that question as a wise sixth test which might be said, rather like Tolkien’s ring, to bind together all the five membership tests the U.K. formulated a decade ago. His positive answer, however, is wrong. The euro’s inherent flaws have not been rectified. The U.K. will continue to fare better outside the single currency.