Britain is against boosting the role of the euro group of EU finance ministers whose countries sharing Europe's single currency, British minister Peter Hain said yesterday.

Such a move would harm overall economic cooperation in the EU, said Mr Hain. Britain is expected to announce on June 9th that it is staying out of the currency, for the moment at least.

Noting the EU's unemployment toll of 15 million, he told the convention drafting an EU constitution that London supports efforts to coordinate economic policy better, and intensify structural reforms.

But he said: "Nationally elected politicians are accountable to their electorates for prosperity and jobs," adding that Britain is against giving more powers in this area to the Commission or the European parliament.

"We do not see how doing that would help Europe's unemployed," he said. "Nor do we see advantage in formalising and strengthening the euro group. Dividing the 'ins' and the 'outs' will weaken and not strengthen our ability to tackle Europe's challenges together."

He was speaking in a debate on the latest draft EU constitution, including plans to boost the powers of the 12-member euro group of finance ministers.

Backers of the plans, which include a pledge to "develop ever-closer coordination of economic policies" and to elect a euro group president with a two-year mandate, say they will be all the more needed next year when euro members will be in a minority in the expanded, 25-member EU. - (Reuters)