In May 1998, the Heads of State or Government of the Member States of the European Union (EU) confirmed that eleven Member States qualify to participate in EMU and adopt the single currency, the euro, from 1 January 1999. Ireland is one of the eleven; the others are Austria, Belgium, Finland, France, Germany, Italy, Luxembourg, Netherlands, Portugal and Spain.
With Ireland’s participation in EMU confirmed, this third edition of the National Changeover Plan sets out the arrangements that will be made by the public sector (including Government Departments and Offices, local authorities, health boards and State-sponsored bodies; the Department of Finance; the Central Bank of Ireland; the National Treasury Management Agency; the Revenue Commissioners; the Department of Social, Community and Family Affairs; the Department of Agriculture and Food; the Department of Education and Science; the Department of Enterprise, Trade and Employment in relation to the National Code of Practice on Dual Display; and the Central Statistics Office) as well as by private sector bodies, (including banks and building societies, the Irish Stock Exchange, the Insurance Sector and IBEC) to facilitate the use of the euro. Appendix 1 summarises the work that is being done, not just in the public sector but also across the private sector, with a view to ensuring that the changeover to the euro will be carried out in a smooth and orderly way; it also lists contact points from which more information can be obtained. Appendix 2 lists euro websites, while Appendix 3 shows the membership and secretariat of the Euro Changeover Board of Ireland. Appendix 4 consists of the Standard of good practice on bank charges for conversion to euro and on dual display of amounts published by the Irish Bankers’ Federation and the Irish Mortgage and Savings Association. The designs for euro notes, and the designs for the common face of euro coins as well as for the national faces where these are available, are shown at the end of the document.
Like the previous editions, which it supersedes, the third edition of the National Changeover Plan has been approved by the Government and has been drawn up in accordance with the Madrid changeover timetable and the EU legal framework for the use of the euro. The legal framework is made up of two EU Regulations: the first¹ of these, on certain provisions relating to the introduction of the euro, was adopted on 17 June 1997; the second², on the introduction of the euro, was adopted on 3 May 1998. A note on the two Regulations is to be found under the "legislation" heading later in this Plan. If any future Community legislation dealing with the changeover to the euro were to be adopted, the Plan would be modified as appropriate.
The third edition of the National Changeover Plan, like its predecessors, was drawn up by the Department of Finance in consultation with the Euro Changeover Board of Ireland, the Single Currency Officers Team, the Central Bank, the joint EMU Steering Committee of the Irish Bankers’ Federation and the Irish Mortgage and Savings Association, the Irish Stock Exchange and the other bodies mentioned in the Plan.
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¹Council Regulation (EC) No 1103/97 OJ No L162
²Council Regulation (EC) No 974/98 OJ No L139
