'No' Wins by Default; The anti-euro forces go home without a vote.(Brief Article)

Byline: William Underhill

Will Britain ever sign up for the euro? That question can be shelved now that the No Campaign has closed up shop and declared victory. In 2002, when the battle over British entry into the eurozone peaked, the No forces had 22 full-time staffers. That number had dwindled to three by last week, when the campaign suspended operations and shut its offices near the Bank of England.

The No forces won by default. The clincher came last week when Chancellor Gordon Brown said he wouldn't look again at the merits of British membership for at least another year. Factor in the prospect of a general election, and no referendum seems possible before 2008. Even the rival Britain in Europe campaign calls prospects for a referendum "vanishingly slim" and plans new tactics. Says the group's chief economist, Philip Legrain: "We will be focusing on ...