Brussels

The European Commission declined to comment on the chancellor's analysis. A spokesman said: "The UK has an opt out and therefore no obligation to join the euro under the current treaty. We shall continue to follow the debate in the UK with interest while continuing to pursue further integration within the euro area."

Neil Kinnock, the commission vice president and former Labour leader, said he was pleased. "Congratulations to Gordon Brown on a very constructive policy which is economically practical and sensible, showing strong political leadership," he said.

Paris

The French press did not welcome Gordon Brown's announcement.

The left-leaning Liberation, commented: "Tony Blair cannot pretend to play a central role in the EU and at the same time shun the core project."

The rightwing Le Figaro argued that because Britain had adopted the Gregorian calendar 170 years after Italy, Spain and France, "one can legitimately wonder about the length of time it will take to adopt the common currency".

Berlin

Sabina Rosenbladt, editor of Internationale Politik, journal of Berlin-based think tank the German Society for Foreign Affairs, said: "It's a pity. It's a pity for the euro and it's a pity for the euro member countries."

The German conservative MEP Elmar Brok said: "This is not so much a disappointment, because we knew the decision in advance. But because of the British elections in 2005 or 2006, this means a delay until at least 2007 for British euro membership. This means that Britain can't play so much of a part in the economic policy of the EU."

The US

"It is a very big mistake," said Jeremy Rifkin, president of the Foundation of Economic Trends in Washington. He added: "Unless the UK becomes the 51st state they are never going to enjoy that advantage of becoming part of the internal market of the United States."

Adam Posen, a senior fellow at the International Institute of Economics, said: "Parts of the right that don't bother to follow the economy will see this as further evidence that Britain's destiny lies with us, and that we are right to ignore continental Europe."