British business leaders call for early euro entry


Britain faces slow economic decline if it does not join the euro soon, a group of top business leaders warned in a letter to the London Timesnewspaper.

The seven businessmen called for early euro entry, which they said would save British companies £4.5 billion sterling and enable them to compete more effectively in international markets.

Signatories include Mr Andreas Kark, managing director of DaimlerChrysler UK Holdings, Mr Danny Bernstein, managing director of Monarch Airlines, and Mr Massimo Carello, executive chairman of Diners Club UK.

They wrote: "The arrival of euro notes and coins is a tangible reminder that the status quo is no longer an option.

"Britain must choose between increasing prosperity by joining a successful eurozone or risk facing slow economic decline caused by turning our backs on Europe.

"As individuals from a variety of industry sectors and company sizes, we believe it is important to end the uncertainty and make that choice soon."

Also signing the letter were Mr Nicholas Brookes, chief executive of Spirent, Mr Dinesh Dhamija, chief executive of ebookers and Mr George Kessler, managing director of Kesslers International.