Fleet News

EMU holds key to revolution in fleet management and funding

BRITISH businesses should start planning for the UK's adoption of the Euro in 2001, according to a senior European banker. David Kemp, ABN AMRO's vice-president - Euro director, said economic and political indicators all pointed towards the UK signing up to the Euro in two years' time.

The Eurozone of 11 countries that had adopted the Euro had created a trading bloc to rival the United States where new car prices are significantly lower and, for fleets, European monetary union held out the prospect of globalising fleet management.

'A unified currency and interest rate across Europe will create opportunities for reduction in administration costs in the supply chain, as well as price transparency. The leasing company will have rationalised funding capability and streamlined operational costs as national differences disappear.'

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