Last month in this column I discussed PICON's regular euro survey and the swing of its members towards the pro camp for the first time. This month we feature just what Paul Coleman, ceo of Systems Union, believes our UK readers should be considering to make the most of doing business with euro land (page 33). However, I also asked readers to let me know their opinions on the future currency policies of the UK. Rodger Jenkinson - the UK sales manager of Dutch owned plastics converter Fardem - replied, taking an alternative view. His letter is published below. I'd like to hear from many more readers - especially those from countries using the euro. Let me know if you agree with Mr Jenkinson, and of your experiences of the common European currency, good or bad. Pauline Covell
Madame,
“I have just read your editorial in the October issue regarding entry into the euro. I am UK sales manager for Fardem, a large Dutch heavy duty sack manufacturer. We have been importing into the UK since the seventies. We export to the USA and Eastern Europe, as well as supplying countries within the EU.
“The fluctuations in exchange rates and polymer prices are something that we have always lived with; sometimes they work slightly against us and sometimes they move in our favour. The main premise that we hold is, that if we manufacture a good product and service our customers to their satisfaction, we will continue to enjoy good volumes of business within the normal world economic cycles. We invoice UK customers in euros or sterling, or in dollars if they wish.
“My point is, that to us as a company, the introduction of the euro in the UK may make life very slightly easier for our accounts department, but it will not create business for us.
“On a personal note I do not wish the UK to give up its ability to set it own taxes and therefore ultimately to lose our sovereignty. In my opinion, the creation of a European Superstate to rival America was a Cold War creation. There are some ideas and attitudes that underpin this Superstate venture that many people in the UK may ultimately reject or find very dubious.
“Another series of questions I would ask the Euro enthusiast is about Norway and Switzerland, and their ability to trade internationally without the euro. Also, how is it that the UK, as the fifth or sixth largest economy in the world, with centuries of international trading experience, can now only move forward if we adopt the euro?”
Rodger Jenkinson
UK sales manager
Fardem