Tony Blair's government was due to announce the result of the Treasury's 'five economic tests on the euro' on 9 June, after bitter rows within New Labour.
We have come a long way since the Tories seemed to have a monopoly on being torn apart by arguments over the euro and Europe. Labour's official policy is that it will call a referendum and then argue for entry if it is 'in Britain's economic interest to do so'. The problem is that this supposedly 'economic' judgement on the five tests is in fact also about politics. And there are three deep splits behind the reluctance either to decisively reject the euro or to leap into the unknown of a referendum.