It is indeed Labour policy to join the Euro, "when conditions are favourable". The grandiose European state is for them an important political objective. However, socialist ideals and capitalism are unofficially recognised by the right wing of the Labour party as being incompatible, so they use the, "when conditions are favourable" line to pay lip service to the European political objective.
Brown has played a blinder for being in both camps at the same time and offending no one.
But there can be no question that Brown has ruined the British economy. He has claimed all the credit in the past for the "success" of the British economy and now that it's taken a dive it's someone else's fault. But he is dead right about the Euro. If we (in the UK) were in it now, things would be an awful lot worse. The weak pound at the moment is the saviour of the British economy (to the annoyance of our Eurozone competitors).
Over to you Seb.