Bookshelp header image for page World Wide Words logo

Euro-creep

Not a reference to an obnoxious European, but a term in finance for one consequence of the move to the euro. This becomes the currency of twelve European nations on 1 January 2002, replacing the franc, the mark and the lira, among others. The UK remains outside this group, but a survey recently showed that about half of Britain’s larger retailers will be accepting the euro as payment for goods. This is true even of chains whose proprietors are strongly opposed to Britain adopting the single currency — profits, it seems, are triumphing over principles. Many multinationals and foreign-owned companies based in Britain already require suppliers to invoice them in euros, and this is likely to become even more common in the future. Euro-creep is the tendency for EU nations outside the euro group to adopt it by stealth in this way; some economists expect it to lead to the UK adopting the euro whether it wants to or not.

The informal appearance of the euro is known in government circles as “euro-creep”. Its encouragement will become a central plank of the Prime Minister’s campaign to prepare the country for a referendum on the issue.

Observer, Nov. 2001

Whether or not Britain joined, Mr Fabius said, it was likely that euro notes and coins could be widely circulated in the UK. “The changeover will probably step up the ‘euro-creep’ phenomenon in the ‘out’ countries,” he said.

Financial Times, Dec. 2001

Share this page
Facebook Twitter StumbleUpon Google+ LinkedIn Email

Search World Wide Words

Support World Wide Words!

Donate via PayPal. Select your currency from the list and click Donate.


Buy from Amazon and get me a small commission at no cost to you. Select your preferred site and click Go!

OTHER WAYS TO HELP

Copyright © Michael Quinion, 1996–. All rights reserved.
Page created 22 Dec. 2001

Advice on copyright

The English language is forever changing. New words appear; old ones fall out of use or alter their meanings. World Wide Words tries to record at least a part of this shifting wordscape by featuring new words, word histories, words in the news, and the curiosities of native English speech.

World Wide Words is copyright © Michael Quinion, 1996–. All rights reserved.
This page URL: http://www.worldwidewords.org/turnsofphrase/tp-eur3.htm
Last modified: 22 December 2001.