Conservative leader William Hague has stoutly defended his tough line on the European single currency after a group of prominent figures in his own party publicly declared their support for Tony Blair's more positive stance.

Mr Hague insisted that his approach - his Shadow Cabinet is committed to campaigning at the next election to keep the pound - was right, and aimed stinging criticism at his critics.

"The Conservative party is not going to play Russian roulette with Britain's future. Europe should have higher priorities than rushing into a single currency," said Mr Hague

He called on Mr Blair to use Britain's EU presidency to tackle unemployment and crime rather than manoeuvring Britain into the single currency.

"My fears is that Tony Blair will pay no more than lip service to these issues. Behind the scenes he will push Labour's real agenda - to take Britain into a single currency as soon as possible and, in time, subsume Britain into a federal Europe."

Writing in the Sun newspaper, he said Mr Blair's policy was a hugely risky project.

"A single currency could threaten the jobs and prosperity of everyone in this country. At stake is the power of the British people to run the British economy in the best interest of Britain.

"I want to see a single currency working on the Continent before I would even consider handing that power to a committee of bankers based in Germany," he added.

And Mr Hague rounded on the heavyweight critics of his approach within his own party.

"Supporters of a single currency want Britain to take a leap into the dark. Some of them said so yesterday. My reply is unwavering."

"Britain must look before it leaps. That is why I say no to abolishing the pound now, and I intend to say no at the next election. That's not anti-European - it's common sense."

Michael Heseltine one of the pro-Euro Tories who criticised Conservative policy

The letter published in Monday's Independent was signed by former Deputy Prime Minister Michael Heseltine, ex-Chancellor Kenneth Clarke, former Tory chairman and ex-Hong Kong governor Chris Patten, former Prime Minister Sir Edward Heath and former Foreign Secretary Lord (Geoffrey) Howe.

Lord Howe warned later that if Mr Hague did not change the front bench's stance until the next general election, it would make it much harder for the Tories to win.

"The CBI, the TUC, a large part of opinion in the City and a significant part of the Conservative party leadership, past, present and future, are taking the opposite view and the Conservative leadership needs to think again," said Lord Howe.

The letter stated: "We believe it important that EMU (European Economic and Monetary Union) should succeed and for Britain to prepare now to join a successful single currency, when the British people freely vote to do so."
 

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