Chris Brook-Carter

Eurosceptic?

By: Chris Brook-Carter - 22 October 2003 16:19

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It was interesting to read comments by Allied Domecq CEO Philip Bowman, following the company's annual results yesterday, concerning the euro. The debate over the euro and its effects on the drinks industry are a contentious issue. And, certainly Bowman's comments offer the perfect spark for debate, after he launched an attack on the currency as Allied struggled in the eurozone.
"I'm very bearish on Europe. I have always had a concern that if you introduced a single currency and removed two of the three economic levers - interest rates and exchange rates - leaving only fiscal rates to manage [individual countries'] economies there would be a considerable amount of pain," Bowman said.
It may make an interesting exercise to conduct something of an old-fashioned "vox pop" on the back of this statement, so we can get some idea of the trade's general perception of the euro. If the responses are interesting enough, we'll publish them as a feature next week. So send your thoughts to chris@just-drinks.com.
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