With more and more talk of the UK adopting the Euro, Cap Gemini Ernst & Young are warning that timescales are tight.
When the Euro was initially adopted by countries such as Spain, France, Germany etc, there was a forty four-month run-in period from adoption to implementation.
If the UK was to adopt the Euro the Government have given a timetable of between 24 and 30 months from any referendum that resulted in a 'yes' vote. Twelve months from any 'yes' vote the Euro would come in for retail use. It would then run alongside Sterling for nine months.
The shorter timescales could spell problems for large companies in the UK and Cap Gemini have estimated the cost for converting systems could double the Year 2000 compliance conversions.
If the Government called for a referendum in May this year, Sterling would be pushed out in favour of the Euro by March 2006.
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