Punters are betting the pound will be replaced with the euro with the pound and the euro almost reaching the same value

William Hill have opened a book on when the government will announce that the Pound is to be abolished and replaced by the new national currency, the Euro - and offer 20/1 that it will happen next year.

'There seems to be an inevitablity about the Euro replacing the Pound eventually - but the big question is when a government will have the nerve to do it' said Hill's spokesman Graham Sharpe.

Hills odds - When Will the UK Government formally Announce it is Joining the Euro?......20/1 - 2009, 14/1 - 2010, 10/1 - 2011, 9/1 - 2012, 8/1 - 2013, 2/7 - 2014 or later.