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UK refusal to join euro a 'blessing'
Friday 5th March 2010By Mike Jones
The pound might be struggling - but the UK economy would be a lot worse off if Britain had joined the euro.
That is the verdict of a Japanese industrial giant operating in the UK.
Masahiro Sakane, chairman of Komatsu, the world’s second-biggest manufacturer of heavy construction equipment, said that Britain’s reluctance to join the single European currency was "a blessing", the Daily Telegraph reports.
He said: "Today, I am glad that the UK chose not to join the euro.
"If you look at the past five years it has been a blessing. And although the market in the UK is shrinking, the machines we produce in the UK are shipped and exported to Europe. The weaker sterling is, the more that will help, particularly within Europe."
Click here to read full report in the Telegraph.
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