report stated that many analysts believed that parity with the euro was only a matter of time. At that time, some shops in Northern Ireland accepted the euro at parity, causing a large influx of shoppers from across the Irish border. This made some shops the most successful in their company for several weeks. Alex Salmond, the then First Minister of Scotland, called for more Scottish businesses to accept the euro to encourage tourism from the eurozone, noting that this is already done by organisations such as Historic Scotland. During 2009, the value of the euro against the pound fluctuated between 96.1 pence on 2 January and 84.255 pence on 22 June. In 2010, the value of the euro against the pound fluctuated between 91.140 pence on 10 March and 81.040 pence on 29 June. On 31 December 2010, the euro closed at 86.075 pence. A report in Britain's Daily Telegraph argued that the high euro had caused problems in the eurozone outside Germany. There was a fairly steady decline in the euro rate during 2013, 2014 and 2015 from 85 pence to 70 pence. During 2016, the pound declined against several currencies, meaning the euro rose, especially on 24 June 2016 (because of the EU referendum) when the euro rose from 76 pence to 82 pence and further the following days. Considerations on membership While the UK remained an EU member, its membership in the eurozone was only possible if it decided to drop its opt-out. Over the years, considerations on the impact of membership weighed heavily. Economics Some believed that removing the UK's ability to set its own interest rates would have detrimental effects on its economy. One argument was that currency flexibility is a vital tool and that the sharp devaluation of sterling in 2008 was just what Britain needed to rebalance its economy. Another objection is that many continental European governments have large unfunded pension liabilities. Opponents feared that if Britain adopted the euro, these liabilities could put a debt burden on the British taxpayer, though others have dismissed this argument as spurious. One of the underlying issues that stand in the way of monetary union is the structural difference between the UK housing market and those of many continental European countries. The entry of the UK into the eurozone would have likely resulted in increased trade with the other members of the eurozone. It could