Ford pushes for euro in Britain - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars

Stacy94PGT · 06-06-2003, 06:59

Reuters / June 06, 2003

COVENTRY, England -- Ford Motor Co., the world's second-largest automaker, said on Friday it was essential that Britain adopt Europe's single currency to create the stability needed for investment.

"We really need to get into the euro. It is a strategic imperative for this country to move into the euro zone," Ford COO Nick Scheele told reporters.

"The lack of predictability and stability is an inhibitor to future investments. So I look forward on Monday to a positive indication as to the strategic direction of this country."

The U.K. government is expected to announce on Monday it is not ready to adopt the euro. It will indicate when, if at all, it might be prepared to hold a referendum on the issue.

Ford Europe President Martin Leach told Reuters two weeks ago that the company assumed the country would join the euro sometime between 2004 and 2006.

Ford sells one-quarter of its European vehicles to the United Kingdom.

Rival U.S. automaker General Motors said last month that British adoption of Europe's single currency would remove some uncertainty for business but was not "a do-or-die issue" for making investments.

Other automakers Toyota Motor Corp. and Nissan Motor Co. of Japan, and France's PSA Peugeot Citroen have all urged Britain to join the European single currency.

Scheele was speaking at the launch of a V6 common-rail diesel engine developed with PSA Peugeot Citroen at Ford's Jaguar luxury car engineering center in the English midlands city of Coventry.

Paul Vincent · 06-06-2003, 08:11

Boy, I wish I had any confidence that Britain's accepting the Euro would be a good thing in the long run. To me it only looks like a British surrender to the cheese monkeys. Citizens of the United Kingdom ought to smarten up and apply for American statehood: Ireland becomes two separate states, Scotland another, Wales another, and then England.

LunaticSVT · 06-06-2003, 08:18

If the Brits go the Euro we could effectively see the oil trade getting backed by the Euro. That would be a downfall for the US Dollar. Especially since oil is traded under the US dollar globally. Why do I think that the Oil would change to Euro? 1 of the 3 largest oil producing companies is based out of England. out of the member nations in Opec they are already with enough votes to make it Euro. The only thing stopping is the British Company not joining in.

As far as the comments of having them join in as a state. That is laughable. I personally would not want Ireland, Britan the Scots or any of the lot as a US state. But that in itself is another conversation.

This could be a bad thing of the Brits go the way of the Euro.