A Bank of England official this week warned British companies not to disregard the euro even though its use in the UK has been less widespread than many predicted before its launch.
John Beverly, Bank of England agent for the West Midlands, said: `Many people thought the euro would make steady progress in the UK even with us out because companies would require its use. We haven’t seen that at all.’
However, he said this was likely to change as the deadline in Europe for the circulation of euro notes and coins approached.
`Early next year I think we’ll see much more momentum spreading into Britain,’ said Beverly.
`There is a danger in complacency.’
* Euro report, p14-16