NORTH-WEST business leaders are backing the latest phase in the war against the euro.

A new campaign involves an alliance between two national campaign groups -- Business for Sterling and New Europe.

Business for Sterling is a non-party political organisation which puts the business and economic case against the euro.

New Europe is a cross-party group which includes leading politicians such as former SDP leader Lord Owen, ex Conservative Chancellor Nigel Lawson and Birkenhead Labour MP Frank Field.

The new multi-million initiative launch involved a mobile poster, created by M&C Saatchi, showing a pair of handcuffs forming the world "Euro" with the slogan "Europe yes. Euro no."

Both groups believe Britain should stay in Europe but keep the pound.

The campaign also includes direct mail shots to hundreds of thousands of North-West businesses and a fundraising appeal from hit lyricist Sir Tim Rice.

Mr Don Greenhalgh, Chairman of Blackrod-based construction group Allen Plc, was on hand to pose with the poster when it began its regional tour.

Mr Greenhalgh, co-chairman of Business for Sterling in the North West, is pictured with Ann Jordan, Preston-based Regional Director of the organisation.