Prime Minister Tony Blair said today his cabinet was reaching a consensus on whether Britain should join Europe's single currency.
"There is an emerging consensus from these discussions," Mr Blair told a news conference shortly after he met his cabinet for a first full discussion of the possibilities of euro entry.
He also reiterated that the decision would be based on Britain's long-term economic interests.
Chancellor of the Exchequer Mr Gordon Brown will announce the government's verdict on June 9th and is widely expected to say the economic tests he set in 1997 have not yet been met.
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Mr Blair is believed to be pressing for the option of a referendum to be kept open before the next election, due by 2006.