6. Fill in the blanks in the text with suitable prepositions

The Treasury insists that convergence must be "sustainable and durable". Sceptics … euro membership compare the recent alignment to ships passing in the night. In evidence to the Treasury select committee this week, Roger Bootle, an economist, described convergence as "superficial" and asked whether British inflation would be the lowest in the EU if the base rate were … 4.25%, as in the euro zone. The dangers … Britain … adopting a "one size fits all" monetary policy were highlighted this week as Irish inflation rose further … 5%.

The "killer fact" in the convergence story remains the current strength and past volatility … the pound. This has both stoked up the campaign … entry - and made it more difficult to achieve without a clear lead from the government. A central argument … this week's broadside … Britain in Europe, "The case for the euro", is that Britain will suffer increasingly … fluctuations in the value … the pound. One of the authors, Willem Buiter, a former member of the Bank of England Monetary Policy Committee, said that the pound is a source of instability rather than a buffer against it: "sterling is a rabbit squeezed between two elephants," the dollar and the euro.

7. Insert the articles where necessary

Exchange-rate uncertainty would hit inward investment from foreign companies which can now invest without exchange-rate risk in … euro zone. So far the evidence is mixed. … speech this week from the governor of … Bank of England robustly defended the City's performance to date outside the euro zone. "There were those who argued that … City would suffer if … UK failed to join from the outset," said Eddie George: "That clearly has not so far happened - quite … reverse." He saw no reason to suppose that Britain's position outside … euro area would detract from the City's competitiveness in … future.

… survey of foreign banks by … London Chamber of Commerce and Industry backed up … governor's views on … current impact of the euro. This found that British participation in the euro ranked 21st out of 23 factors influencing location. However, a third said Britain would have to join the euro to secure London's long-term future as … international financial centre.

8. Explain the italicized grammar constructions in the following sentences

1. The debate about the five economic tests increasingly suggests that they will be met when the chancellor decides that it is politically convenient for them to be met.

2. It is not that the tests are meaningless or unimportant. But they are vague. In the absence of a major recession in either Britain or Europe, it is likely that evidence can be marshalled on either side to suit the prejudices of whoever is making the case.

3. If Britain is to enter monetary union, it will have to do more than pass Gordon Brown's five tests.

4.The government will have to pave the way for entry by negotiating with its European partners over an acceptable exchange rate. It will have to influence expectations in the foreign exchange markets about an entry rate into the euro.

5. In this sense, the economy will only pass the tests if the government wills that result. And even if the economic tests are met, the government will have to win a referendum. It is highly unlikely that the Yes campaign will be able to avoid dealing with the political implications of euro membership. The decision whether or not to join the euro is ultimately political - whatever Mr. Brown would have us believe.