UK business leaders want euro decision
A British business leader warned the UK's government today about the “potentially destabilising” effect of delaying assessment of the five euro tests.
David Frost, director general of the British Chambers of Commerce, said he was concerned at widespread rumours that the British government’s decision on the single currency, expected in the next few weeks, would leave open the possibility of a further assessment of the tests next year.
“If these rumours are correct, they would create an unstable environment for British business and heighten uncertainties,” he said.
“Any euro verdict that can be reopened and reviewed within 12-18 months will be potentially destabilising, and will lack credibility.”
The chambers urged the British to deliver its verdict on the five tests in a way that minimised uncertainty and made it easier for firms to plan ahead.
“This means that once the euro verdict is announced, business would expect a period of stability on this matter for at least three years.
“There is no justification for the government to reopen the issue before the next election,” Mr Frost added.
