Euro 'threat' to housing market

A round-up of the latest stories on the euro and the debate about whether the UK should join the currency.

Sunday Times warns that joining the single currency could cause a boom and bust in the housing market.

They say a confidential study on the impact of joining the euro warns Chancellor Gordon Brown that loss of control of interest rates could impact badly on an already "volatile" housing market.

According to the Sunday Telegraph people opposed to joining the euro have set up a new campaign group aimed at forcing a referendum on the proposed European Convention.

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The campaign is being masterminded by Lord Saatchi and has "cross-party backing".

The Observer reports that the euro could soar above 1.3 dollars within a year, according to revised City forecasts.

It argues that if the currency goes up sufficiently it could cause deflation and recession across the continent.

The Mail on Sunday claims that Gordon Brown threatened to quit over the euro during a row with Tony Blair.

The paper reports the chancellor said he would leave the government if the prime minister over-ruled him and called a referendum.