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E-Commerce Will Make UK Join the Euro, Says Bull

Research from Bull Information Systems shows that the rise of e-commerce may have an influence on whether or not the UK adopts the single European currency.

28 per cent of firms surveyed said they thought e-commerce would increase the likelihood of their company trading with Europe in the short term. 30 per cent said they thought that e-commerce would make joining the Euro more necessary for the UK.

"The Internet and e-commerce are forcing us all to change the way we do business," said Tim Lines, general manager, Private Sector, at Bull Information Systems.

"If it werent for e-commerce Britain could effectively go on ignoring the whole Euro issue, but if UK businesses want to compete in the global Internet market then they need to address their stance on the Euro now."

Exactly why the UK has to give up its sovereignty in order to sell products on the Internet is not explained by Bull. Tim Lines goes on to say that fully 65 per cent of respondents believed the US dollar will more important than the Euro in the future.

56 per cent of respondents said that their companies did not use e-commerce to trade with either suppliers or customers. Those who were already using the Internet said they had problems with monitoring their trade, while a quarter of respondents said they could not say how much of their business was being conducted electronically.

Bull uses what it calls a unique EuroEdge methodology to address the various aspects of the Euro consultancy projects it undertakes for clients.

For the research on which this story is based, Bull conducted 200 interviews during the summer with business people in the private sector, by telephone.