Euro – Most FDs say they are ready

UK finance directors are embracing the euro, with almost three-quarters now prepared for European Monetary Union, a rise of 40% in the last six months alone.

Some 74% of companies are prepared for the euro if and when Britain decides to join, while 73% believe the new currency will be healthy for British businesses, according to the survey of senior finance and IT directors by financial software vendor Geac.

Marks & Spencer euro project manager Paul Smith said: ‘There are a number of companies which do not have the European exposure that we do, but they are still taking it very seriously and preparing for British membership.’

He said more and more companies were becoming aware of the effects of the euro on their business, even if it would just mean the ability to quote and price in euros.

The survey revealed, however, that around half of those questioned did not think it was necessary for the EU to control tax policy in order for the euro to be a success.

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