HSBC research reckons 50% likelihood of euro entry by 2005


LONDON -- The probability of the UK joining the eurozone by the end of 2005 now stands at 50%, according to a new probability index based on financial markets data, devised by UK bank HSBC.

The Probability Index of Entry (Pie), released for the first time last week, showed that the probability has doubled from two years ago, and is set to rise further, said David Bloom, currency strategist, and one of the report's authors at HSBC in London.

The index is based on factors such as short-term inte