The FT reports that the prime minister has "kept alive" his hopes of joining the euro after the "limited but solid achievements" of the EU summit in Barcelona.

A referendum could be held as early as next spring or autumn, reports the paper.

The Guardian suggests that ministers will strike a pro-euro note in the autumn - ahead of a Queen's speech announcement of legislation to facilitate a referendum.

Meanwhile the Express argues that the summit's failure to agree to dynamic US-style economic reforms has dampened the prime minister's enthusiasm for the single currency.

Blair's exasperation with "summiteering" was exposed when he sarcastically told Jack Straw that the event had been "a joy, as ever".