Two leading business organisations have reaffirmed their support for the single European currency.
Recent attacks on the euro by captains of industry have prompted the CBI and the British Chambers of Commerce to respond to warnings that the euro will be bad for business. Although it welcomes open debate on the issue, the CBI said it supports the principle of UK membership of EMU when economic conditions are right. The CBI admits that a significant minority of its membership does not support joining EMU. But it says its policy reflects the clear majority of member opinion and the results of surveys in 1995 and 1996 on behalf of the CBI and the British Chambers of Commerce. It adds the economics of EMU are complex, with strong arguments for going ahead and important risks and dangers.
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