THE potential for British business will be far greater in an enlarged Europe, the outgoing head of UNICE, Europe's CBI, told employers at a recent dinner.

Dirk Hudig, the Secretary General of UNICE from 1998 until a fortnight ago, said: "The potential for growth in business with the Eastern European states is bigger than the Asian tigers."

He was addressing almost 100 businessmen and local political leaders at the annual dinner of the European Network of Buckinghamshire and Oxfordshire.

On the Euro, he said that five years ago most people would not have believed monetary union was possible, but the benefits to business were substantial, offering exchange rate stability and improved trading for companies within the Eurozone.

On the challenges ahead, Mr Hudig included the need to complete the Single Market, especially in the fields of financial services and liberalisation of utilities.

"Business has to be involved," he said. MEP James Elles gave the vote of thanks to Mr Hudig.