BUSINESSMAN Raj Ruia has joined the regional council of Business for Sterling, the campaign group against Britain joining the euro.
Mr Ruia is a director of North-West textiles group Ruia Holdings, which employs more than 270 people at its factories and warehouses in Bolton, Radcliffe, Crewe and Leicester.
"We are the world's fourth largest economy and will be better off keeping the pound," said Mr Ruia, whose company manufactures and supplies textile products ranging from bed linen and towels to hosiery, socks and tights.
He added: "I cannot see how countries with very different economic growth rates can operate successfully with a single currency and the same interest rate.
"It just does not make sense -- there is no safety valve if a particular country finds that the uniform interest rate they are sharing with other economies is wrong for them.
"The last time we tried this under the exchange rate mechanism it caused economic chaos in Britain and we were forced to pull out."
The council of Business for Sterling North West -- the regional team supporting the campaign -- includes Nigel Alliance, director, N Brown Group plc; Donald Greenhalgh, Chairman of Blackrod-based Allen Plc; Keith Black, managing director of Regatta Ltd and Edmund Gartside, Chairman of Shiloh Plc, Royton, Oldham.
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