Industry leaders discuss euro

Three leading industry figures have revealed what they consider an acceptable exchange rate for UK membership of the euro. Trade Unions Congress leader John Monks would go in at DM2.65; former Confederation of British Industry president Sir Clive Thompson would settle for DM2.85; and Vauxhall chairman Nick Reilly thinks DM3 would be acceptable. Meanwhile, Bank […]

Three leading industry figures have revealed what they consider an acceptable exchange rate for UK membership of the euro. Trade Unions Congress leader John Monks would go in at DM2.65; former Confederation of British Industry president Sir Clive Thompson would settle for DM2.85; and Vauxhall chairman Nick Reilly thinks DM3 would be acceptable. Meanwhile, Bank of England governor Eddie George said that real economic convergence would be necessary for euro membership and warned against talking about `windows’ of opportunity to join.