Brown denies reports he has decided against euro

British parliamentarians visit Dublin this week to examine Ireland's experience of the euro.

The Commons Treasury Select Committee will meet the Department of Finance, the Central Bank, Oireachtas committees on European affairs, finance and public services and consumer advocates.

The high-level visit comes after British Chancellor of the Exchequer Mr Gordon Brown was forced yesterday to issue public denials of media reports that he had already decided against euro entry.

Mr Brown reiterated the June deadline and stressed that the decision on entrance would depend on the results of five economic tests. He dismissed a Sunday Times report that said he had privately decided Britain should not adopt the euro.

"This is not correct," Mr Brown said. "The assessment has not started.

"We are doing a tremendous amount of work ... We are determined to make it (the decision) on a rigorous economic analysis."

The chairman of the Treasury Select Committee, Mr John McFaul said the visit of his group was part of its effort to widen public understanding of the issues at stake in the run-up to such a decision. While praising the way the common currency seemed to have opened up trade for the Republic, he said the 11-strong committee would be looking to see if Ireland's economic progress could be sustained with a common interest rate.

He said the committee members would be paying particular attention to the likely impact of euro membership on Northern Ireland. "Would it boost trade and tourism? If trade increased, would it be the Republic, the North or both that would benefit and would the increased competition that trade would bring be good for Northern Ireland's economy or damaging to the prospects for recovery?"

He said the committee would examine "the costs, difficulties with and eventual success of your transition from the pound to the euro," he said, to see if there were lessons that could ease the trauma or cut the costs should a similar move be made in Britain. - (Additional reporting, Reuters)