• silicon.com
• Management
• CIO Insights

By Polly Raymond, 29 September 1998 00:15

NEWS A Mori poll has revealed for the first time that the majority of businesses think
the UK should embrace the euro currency at least by the next general election. Although over two thirds are in favour of the single currency, only 28 per cent say they have readied their financial and accounting computing systems for European monetary union (EMU). According to Dennis Keeling, leader of the Business and Accounting Software Developers Association (Basda) and the UK's leading authority on euro-conversion, those who haven't converted yet still have time to do so before the UK joins the single currency in full. Keeling said there is no point in the majority of UK companies to convert because it's unclear if and when the UK will fully incorporated into EMU. In the meantime, its only those companies that will be interacting with the rest of Europe that should make themselves capable of handling euros by 1 January 1999 deadline which marks the first phase of introduction. "We have calcluated that approximately 30 per cent of UK companies will need to interact with countries using the euro and this fits in perfectly with the Mori poll's figures, which show 28 per cent are ready to do just that," said Keeling. Europhiles have hailed the survey as the first definitive approval of the euro by the UK business community. Keeling agreed, saying that recent roadshows had been reflected an overwhelming pro-European vote from participating corporations. He said: "Until now, an outspoken few have dominated the debate, but now this survey has shown the message from the business community is positive towards the euro."