As the date for the Chancellor’s announcement on the results of the five economic tests for the euro looms on 9 June, the latest research from Bibby Trade Finance has found that UK firms involved in trading overseas are becoming increasingly confident in the euro. The findings show that 58 per cent of firms believe that the UK should definitely join the euro, a 10 per cent increase on this time last year. Of these, 22 per cent feel that Britain should join immediately, with 36 per cent preferring to see entry in a few years.
This comes at a time when in recent months, sterling has been depreciating against the euro resulting in vastly improved opportunities for UK exporters.
The number of businesses trading overseas that are against entry to the euro zone has fallen by half over the past year, with only seven per cent saying that they would never want to join. A further 19 per cent remain open-minded, preferring to wait and see.
