British directors say 'not yet' to euro

Company directors still believe Britain should not join the euro for the foreseeable future, according to a report today.

The Institute of Directors said membership of the single currency would be a “momentous step” with enormous political and economic implications.

Head of policy Ruth Lea said economic stability would be put at risk and business and job prospects hit.

“By comparison, the advantages of British membership are modest indeed,” she added.

The IoD today published a series of briefing papers to help inform directors on issues such as the economic costs of euro membership.