The Euro: Northern Ireland Firms Have Their Reasons to Say 'Yes' to the Euro

The News Letter (Belfast, Northern Ireland), May 27, 2003 | Go to article overview

The Euro: Northern Ireland Firms Have Their Reasons to Say 'Yes' to the Euro


Byline: PHILIP McDONAGH

AS CABINET ministers wade through 2,500 pages of the Treasury's 18 technical studies to get a hint of whether the euro will be good for the UK - or vice versa - Northern Ireland business appears to have made up its collective mind.

If a referendum to join the euro were held today, over sixty percent of Northern Ireland businesses claim they would vote 'yes'.

As part of the annual survey of business attitudes for PwC's 2003, Northern Ireland Economic Review and Prospects, a representative sample of local firms was asked how they would vote if a referendum on the Euro was held today.

Over 63 per cent of all respondents would vote in favour, 24 per cent against, with 13 per cent remaining undecided. That comes exactly a year after the survey for the 2002 Economic Review suggested that nearly 70 per cent of local companies favoured Northern Ireland introducing a dual currency system that would give the euro equal legal status with sterling within Northern Ireland.

But with little over a week to go before the Chancellor announces whether or not there will be a referendum during this parliament, hard-pressed Cabinet ministers are about to receive the Chancellor's 300-page assessment of the five economic tests - the 'ideal' economic conditions for entry.

The usual leaks from the usual sources suggest that four of the five, have been failed, although some more narrowly than others. If that proves to be correct, euro-unity goes straight on the political back burner.

But is that really bad news for Northern Ireland? Elsewhere in the UK, business organisations and Chambers of Commerce are either opposed to joining the euro or remain unconvinced by either argument, so what makes Northern Ireland different?

Northern Ireland's apparent love affair with the euro is more a transfer of affections from the punt than the impact of cupid's arrow fired from Brussels. It is also an affair fuelled more by pragmatism than lust.

The latest PwC survey suggests that 94 per cent of all Northern Ireland companies sell their goods and services in Northern Ireland, with 66 per cent also selling to the Republic. That compares with 53 per cent of the sample selling elsewhere in the UK and 25 per cent exporting to other EU member states.

Regardless of size or ownership, more Northern Ireland companies deal with the South than with Britain. Even the traditional manufacturing has shifted market share from Britain to the Republic of Ireland, with 76 per cent of manufacturers exporting south, compared with 67 per cent looking across the Irish Sea. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

The Euro: Northern Ireland Firms Have Their Reasons to Say 'Yes' to the Euro
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.