Denmark made its clearest commitment to a currency u-turn as it became the latest country to clamour for the euro as a result of the financial crisis.

Anders Fogh Rasmussen, the Prime Minister, said that a referendum on swapping the Danish krone for the euro could be held in 2011, leaving the UK and Sweden as the only ‘old’ EU member states outside the eurozone.

Among the 12 ‘new’ members who joined since 2004, Slovenia, Cyprus and Malta have adopted the euro and Slovakia will follow on January 1, while high-level opposition dramatically softened in Poland this week with talk of a 2012 entry date.

Hungary also said that it wanted to speed up entry following the damaging run on the forint which led to Wednesday’s $25 billion international rescue package for its economy.

“The euro ensures political and economical stability in Europe and the current financial turmoil makes it evident that Denmark has to join the Euro,” said Mr Rasmussen at the European Liberal Democrats annual conference in Stockholm.

“The cost of staying outside the Eurozone is clear even when the Danish crown is in narrow fluctuation band with the euro. But it is sure that we have to pursue the same monetary course”.

Danish voters have been very sceptical of euro entry, rejecting the Maastricht Treaty in 1992 and only passing it with an opt-out for the single currency, and again resisting the currency in a referendum in 2000 by 53.2 per cent to 46.8 per cent on a massive 87.6 per cent turnout. But a recent poll showed that a slim majority, 50.1 per cent, were now in favour.

Support for the euro is also on the up in Sweden, with a poll this week showing 42 per cent in favour and 47 per cent again, with 11 per cent undecided. In May, just 34.6 per cent were in favour and 51.7 per cent against.

The financial crisis has also concentrated minds in Poland, where the eurosceptic President, Lech Kaczynski, has relaxed his opposition and seems likely to support the constitutional changes needed to adopt the single currency, following a referendum.

The other small country buffeted by the worst of the financial storms and eyeing the security of the euro is Iceland – which would first have to join the EU. Polls are showing a huge change of heart in the island with 70 per cent in favour of membership of the organisation.

Times Recommends

• Lies and cover-up at MG Rover exposed by report
• High oil prices push manufacturing costs up
• Primark founder steps down as chief executive