Mr Robin Cook, Britain's Foreign Secretary, warned yesterday that voters could put in jeopardy the UK's "leading position" in the European Union by rejecting the euro in the planned referendum.
In a stark warning about the potential dangers of staying outside the euro zone, Mr Cook said by the end of next year Britain could be the only EU member state without a firm date for joining the single currency.
"In the event of having a referendum that went against us we would seek to make sure that we did preserve as best we could Britain's position in Europe," Mr Cook said.
"A key question the public or electorate will have to ask themselves in the course of that referendum is for how long we could do that if we are the only ones in the EU (outside the euro zone)."
Mr Gordon Brown, the Chancellor, has taken a guarded stance, and wants to neutralise the euro as an issue in the next general election by strict adherence to the Treasury's five economic tests for judging euro membership.
However, Mr Cook, while accepting the five tests, wants to engage in greater advocacy of the government's decision in principle to join the euro.
The government is hoping that if planned referendums on the euro in Denmark and Sweden are positive, and Greece also joins the single currency, it will help reverse hostile public opinion in Britain.
Mr Cook questioned the depth of hostility, adding people might see the merits of the euro through price transparency across the single market, lower interest rates and savings in transaction costs.
