Ford pushes for euro in Britain
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.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....