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No barrier to Euro says Bank of England

The financial services industry is ready for the introduction of the Euro, according to a report by the Bank of England.

In a forward to ‘Practical Issues arising from the Euro’, Bank of England director for Europe John Townend says there are no insuperable obstacles to joining the new currency. The report goes on to say the industry is ready for a stepped introduction over three years. One year after a possible decision, wholesale financial services would be prepared for the new currency, with the retail sector following two years later.

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