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.
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.