Paul also added that not only should Britain remain in EU but should also adopt the Euro to tap the economic benefits of the largest market completely.
Invoking the tragedy of partition of India, leading NRI industrialist Lord Swraj Paul says Britain should not only continue to stay in Europe but also adopt the Euro to fully tap the economic benefits of its largest market.
Speaking ahead of the June 23 referendum when UK votes on whether to remain in the 28-nation European Union or to leave, Paul, Chairman and Founder of Caparo Group said, "when you divide countries and continents you can often cause more problems than you solve."
"Take India and Pakistan for example. At the time of partition they were the same people with the same language; yet it was decided that they should become separate countries with their own sovereignty.
"In my view, and in the view of many other people, India and Pakistan are still suffering today from that decision," Paul said yesterday while addressing a gathering at the Regent University here on UK membership of the European Union (EU).
"My own life experiences have led me to strongly believe in the intermingling of nationalities," he said, underlining that this was the reason why he believes that the UK should be in Europe and leading Europe.
"I am very pro-European and genuinely believe it is the best thing to have happened economically and strategically to Europe and to Britain," he said. Paul also emphasised that being in Europe can only help the country in the long run and certainly will not cause any damage.
"From an economic point of view, and in order for the UK to get the full benefit of being in Europe, then we must also adopt the Euro," Paul said. "If we are not in the common currency then we are losing out. In the event of Brexit, I believe that British industry will suffer to an extent, because we rely heavily on the European export market," he said.
The UK labour market will also suffer because Britain is forced to bring in a number of skilled and unskilled workers for the jobs that cannot be filled by the indigenous population, he said. The result of the June 23 referendum will have far- reaching consequences for politics, the economy, defense, migration and diplomacy in Britain and elsewhere.
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