BusinessCompany NewsEuro exclusion hammers UK businesses

Euro exclusion hammers UK businesses

The government's failure to join the single currency is putting UK businesses trading in Europe at a competitive disadvantage, a new survey has uncovered.

Link: Treasury concerns may delay euro entry

According to the REL consultancy, more than three-quarters of bankers and financiers said UK businesses enjoyed less favourable business terms because of the country’s exclusion from the euro, a new survey published today and reported by the FT revealed.

A previous survey carried out by REL in 2001 found that not joining the euro was costing UK businesses an estimated euro 14bn (£9bn).

At the time 58% of those surveyed said joining the euro would aid UK businesses, while 88% said it would make them more competitive.

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