Generate text that refutes this claim: Britain may not like losing the Queen's head on banknotes but London will be at a huge economic disadvantage if Britain stays out.  London will further lose its position as Europe’s financial centre, and the financial influence this brings with it. Britain’s staying out of the Euro has already depleted London’s status as the European financial centre. As explained by Anthony Browne in The Euro: Should Britain join?, “The European Central Bank – the second most powerful in the world – had a natural home in London, but ended up in Frankfurt because of our indecision over the Euro.”1 Germany used this to her advantage, for it “reinvigorated Germany’s bid to ensure that Frankfurt becomes Europe’s financial centre, with a massive office-building programme to rival London’s Docklands.”1Germany seizing London’s sphere of influence will only increase if Britain stays out of the Euro. Moreover, if Britain’s indecision over the Euro continues, “it would lead to a serious rethink by foreign owners of many of the City’s financial institutions about where their core activities should be located.”1 If Britain does not join the Euro, her economic activity both at home and between fellow Member States will be badly affected.  1Browne, A., 2001, "The Euro: Should Britain Join?", page 92
conomic policy economy general international europe politics government house
This has simply not been the case; since the launch of the Euro in 2002, London has consolidated her position as the financial centre of Europe. There is no need for Britain to join the Euro, she can profit from the financial influence London exercises while her mainland European counterparts use the single currency. As explained by Anthony Browne in The Euro: Should Britain join?, “at the launch of the Euro…that what were effectively regional financial centres –such as Paris- lost any reason for their existence and saw all European business drain away to Europe’s real financial centre, London.”1 Moreover, Britain is not wholly reliant on her European counterparts for business; “More people work in financial services in London than live in Frankfurt, its only likely rival. We have the English language and a time zone that means we can deal with New York and Tokyo in the working day.”1 If the British economy does not even need mainland Europe for business, even less it needs the single currency.  1Browne, A., 2001, "The Euro: Should Britain Join". page 93