UK The EURO and the utilities sector
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The Impact Of Britain's Non-Participation In The Euro And Exchange Rate Volatility On The Utilities Sector
As my sector does not engage largely in international trade, this question is quite difficult to answer. Most of the companies in this sector work in the domestic market, leaving a lot of their operations safe from currency fluctuations. On paper Britains non-participation in the Euro should not overly affect them. But favorable exchange rates could lead to foreign competition entering the British market, leading to losses in sales and jobs. I will now speculate on how the uncertainty of the last two years could impact on my industry.
The consequences of Britain staying out of the Euro will be felt throughout British industry. Business leaders demand `end to uncertainty on Euro. They have urged Britain to make a decision on the Euro soon in order to end the uncertainty that is damaging British businesses. They say that isolation from the Euro is costing Britain 4.5 billion every year...