European firms in no hurry to reach euro compliance

NEWS European companies are lagging behind in their euro compliance projects, according to a survey conducted for the Wall Street Journal. According to the survey, only 26 per cent of European businesses expect to have their systems adapted to cope with the euro exchange rate by the end of the year. However, commentators have taken the news in their stride. Graham Titterington, senior consultant at Ovum, said: "There is some flexibility in it. The switchover is going to take three years anyway. The main driver will be commercial, not legal, so even in mainland Europe it will depend on the extent of a firm's international dealings, which determine how quickly it will have to comply. It is not a showstopper, like the millennium bug."