Leaders of 25 top companies with a total of 100,000 employees in Britain have sent a joint letter to British Prime Minister Tony Blair warning him of 'serious consequences' for the country's economy if it remains outside the euro zone, a daily newspaper reported today.
Among those signing the letter are British Airways chairman Colin Marshall, Chris Gent, the head of Vodafone, and executives of Ford, Philips, BAE Systems, British American Tobacco, Unilever, WPP and Siemens, the Daily Mirror said.
'We hope that the government will have the courage of its convictions and recognise that membership of the euro is in our long-term national interest,' the letter said. 'To do otherwise would have serious consequences for future prosperity.'
The letter also called on the prime minister to announce a referendum on the issue before the next general elections, due in 2006.
Chancellor of the Exchequer Gordon Brown is due to announce before June 7 a decision on whether the government's five self-imposed economic tests for joining the euro have been met. A positive verdict on the tests would pave the way for a public referendum on adopting the currency, but the decision is widely expected to be that Britain is not ready to join.
Blair, who is considered to be more enthusiastic on the euro than Brown, has made no secret of his desire to lead Britain into the euro zone.
