UK: JOINING EURO COULD COST GB[pound] 33BN

Article Abstract:

The House of Commons Trade and Industry Committee has warned that the Government is in danger of underestimating the cost to businesses of joining the euro, claiming that the actual cost could be as high as GB[pound] 33bn. The committee has recommended that businesses be ready for changeover costs to be on the higher end of expectations and has made a number of recommendations should the UK decide to join. These include: giving small businesses a leading role in any business information campaigns; producing early guidance on planning and budgeting for IT projects for euro conversion and beginning consultation as early as possible for groups likely to be involved with new notes and coins.

Economic aspects, Reports, Euro (Currency), Eurocurrency market, Cost (Economics), Costs (Economics), United Kingdom. Parliament. House of Commons. Select Committee on Industry and Trade

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EUROPE: ECB WARNING OVER EURO'S VALUE

Article Abstract:

The European Central Bank (ECB) fears that the single European currency would be further damaged if public spending plans are not reduced by member governments. The ECB is concerned that during a period of faster growth across the European economy, countries are looking at tax reduction measures. The ECB wants governments to enhance economic efficiency and productivity by undertaking structural reforms. The ECB is in favour of tax reforms, but feels that this should be offset by spending reductions in order to stop fiscal policy from being adversely impacted.

Financial management, Management, Brief Article, European Union. European Central Bank

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UK: PUBLIC OPINION REMAINS HOSTILE TO EURO

Article Abstract:

A survey conducted by Salomon Smith Barney has found that UK public opinion concerning entry to the European single currency remains hostile by a margin of two to one. The findings indicate that the chances of the UK joining the euro before 2007 are only 50:50, putting the country on a par with Hungary and Estonia and behind other European Union countries. The pervading hostility to the euro may lead the government to relax its goal of joining the single currency soon after the next general election.

Marketing procedures, Intnl Affairs & Finance, National Security and International Affairs, Political activity, Money

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