OUTGOING Bank of England Governor Sir Edward George said the pound’s current level against the euro is closer to an acceptable rate for Britain. to adopt the European common currency.

Investors were given an early boost today as the FTSE 100 Index of blue-chip stocks reversed almost all of the losses recorded on Friday.

Bank of England Governor Sir Edward George has quashed any suggestion that he was a eurosceptic as he outlined the pros and cons of European Monetary Union.