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Companies in the EU still in favour of the euro

Posted by | May 21, 2014 | Latest Audit Information & News

Auditing firm Grant Thornton interviewed a large number of chief executives, managing directors, chairmen and other senior executives of listed and private businesses to get their views on the euro.

Over 90% of the 3,100 interviewed wanted the single currency to remain in operation with three in four stating that being in the euro had benefited their company. The senior company executives in the European Union still strongly support the single currency.

Companies in France and Germany were less optimistic on the prospect of further integration between member states compared with this time last year. In Germany, 55% of companies are now open to further economic integration, down 20% from this time last year. In France, support has dropped 12% to 57%.

France and Germany have usually been the driving forces behind the EU project and together they account for nearly half of the Eurozone GDP but now they are now united in further integration to Europe.

Although the support in France and Germany is declining, support in other countries is increasing. Support in Ireland is 77% which is up from 50% last year, support in Poland increased from 54% to 67% while in Italy support grew from 56% to 61%.

In the UK, 57% of business leaders said they did not want any further European integration, this is the highest level of opposition in any European economy. The next highest was the Netherlands on 26%.

 

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