More UK businesses are using the euro for international transactions than their eurozone counterparts, the European Commission has revealed.
The Commission’s latest quarterly review on the use of the euro shows that 29% of UK firms use the currency against an EU average of 23%.
More UK companies have also opened euro bank accounts – 7%, compared with 6% in France and just 2% in Germany.
Stephen Radley, chief economist at the Engineering Employers Federation said: `This is probably because we export a very large proportion of our output and we are very significant investors abroad.’
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