INDUSTRIES in Burnley and Pendle are being warned to prepare to use the 'euro' - whether or not Britain is in the vanguard of a single currency.

The warning came from Euro MP Mark Hendrick, Labour's economic and monetary affairs spokesman in Europe, after talks with Board of Trade president Margaret Beckett.

Mr Hendrick is a leading advocate of the single currency, and says British companies will have to use it in one form or another, either as domestic or foreign money.

Dismissing fears that it would threaten jobs he said: "The positive effects in the long term are clear - a stable economic framework which will promote the development of internal trade, strengthen growth and create jobs."

His talks with Mrs Beckett featured economic issues pertinent to the British presidency of the EU, which begins in January, and the planned European jobs summit.

He added: "I believe the time is now right for the UK to signal to our European partners, particularly before the British presidency, that if the single currency goes ahead on time on January 1 1999 - and it is durable - then the UK Government should give serious consideration to holding a referendum."

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