|
BMW makes pressure play
|
 |
November 17, 1998: 8:44 a.m. ET
Car maker seeks reassurance on U.K. EMU membership, report says
|
LONDON (CNNfn) - The U.K. government is coming under increasing pressure from big business to join Europe's single currency, according to a press report Tuesday.
London's Financial Times reported Tuesday that German car maker BMW, which has a significant presence in the U.K. through its ownership of Rover, sought assurances that Britain would seek early membership of the single currency.
BMW is said to have wanted confirmation before it committed itself to a £1.5 billion ($2.5 billion) investment program at Rover.
BMW refused to comment on whether it had sought assurances from the government, but it has said it wants Britain to be part of the single currency agreement.
The Confederation of British Industry (CBI), the U.K.'s employers' organization supports U.K. membership, "when economic conditions are right".
Surveys of business opinion suggest most businessmen want Britain to join the euro, although there appear to be deep divisions over when that should take place.
|
|
|
|
|
 |
|
