EVEN if the pound continues to weaken against the Euro in the coming months, companies like Nestl will still face the problem of the inherent instability of the floating exchange rate which means they cannot plan their long-term future with any certainty.
Investing in the Euro zone gives companies the stability they seek. After all, the pound could be back up to the level it was in May within two or three years and we will be faced with the same problems all over again.
It is also worth noting that the record level of inward investment last year results from decisions made by companies three or four years ago.
Decisions being made now by companies are showing us what a terrible price we are paying for not joining the Euro.
Andrew Hansed,
Beck Close,
Elvington, York.
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