When the European Union began its drive to create the euro in the 1990s, opponents of the single currency embraced the idea of a multispeed Europe, a departure from the bloc's traditional practice of having every member adopt each of the group's policies. For euro-skeptic Britons in particular, this differentiated union would enable the U.K. to stay outside the euro area but remain an EU member in good standing, with full access to the bloc's single market for goods and services.
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