Unilever warns UK about Euro policy

Niall FitzGerald, chairman of Unilever, the Anglo-Dutch consumer product giant, has called on Tony Blair to clarify his policy on euro entry within a year, warning business would reassess investment in Britain unless the uncertainty ended, reports the Financial Times​. Lately, the British government has sent out conflicting signals, Mr. Blair wanting to organise a referendum within a year, and the chancellor Mr. Gordon Brown being more cautious. Mr. FitzGerald is also the chairman of the business leaders' group of Britain in Europe, a pro-European lobby group. When Unilever​ is investing, the Euro is one of the criteria taken into account. Should the referendum not be held, Unilever would reconsider Britain as the place to locate manufacturing plants and headquarters. According to Mr. FitzGerald, his views are shared by international businesses, as it was assumed Britain would join the Euro zone. Mr. FitzGerald called on the prime minister to begin "not just asserting but demonstrating again the value of Europe", and on the chancellor to complete his assessment of the five tests for euro entry by next spring. Source: Financial Times