TEN THINGS YOU SHOULD KNOW ABOUT THE EURO 1. What is the euro worth? The conversion rate for the euro is €1 = £0.787564.  This six-figure rate is permanently fixed and it must be used in all conversions between the Irish pound and the euro. So a euro is worth just under 79 pence;  or, to look at it another way, one pound will get you one euro and 27 cent.  2. How do I convert from Irish pounds to euro?  To convert from Irish pounds to euro, divide the Irish pound amount by 0.787564. Round the resulting euro amount to two decimal places - ie. to cent.  Round down where the third figure after the decimal point is 4 or lower; round up where it is 5 or higher. For example, €3.174 should be rounded down to €3.17, but €3.175 should be rounded up to €3.18. 3. Tell me about the euro notes.   There will be seven euro notes: €5, €10, €20, €50, €100, €200 and €500. Euro notes will be the same in all the countries of the euro area.  4. Tell me about the euro coins. There will be one hundred cent to the euro, and there will be eight euro coins: 1 cent, 2 cent, 5 cent, 10 cent, 20 cent and 50 cent, and €1 and €2. The design on one side of each coin (the side that shows the value) will be common to the coins of all the countries of the euro area. The other side will show the twelve stars of the EU flag, the year and a national design reflecting the country of issue. In Ireland's case, the national design will consist of the harp and the word "Ιire". 5. What countries are in the euro area? What countries are in the euro area? There are twelve countries in the euro area:  Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. 6. Will I be able to use the euro notes and coins I get in Ireland in all of these countries?  Yes. You will be able to use euro notes and coins - no matter which national design is on the coins - in all the countries of the euro area. 7. How will the cash changeover work?  On 1st January 2002, accounts in banks, buildings societies, post offices and credit unions will automatically be converted  to euro, free of charge. From then on, cash going out will be in euro, with incoming Irish notes and coins being retained and taken out of circulation. So, from 1st January 2002:  Withdrawals from accounts will be in euro.  ATMs will begin dispensing euro notes.  Wages, salaries, pensions and social welfare payments will be in euro.  Retailers will charge in euro. They will accept Irish notes and coins but will give change in euro only.  Banks, building societies, post offices - and credit unions, where feasible - will exchange up to an overall total, per individual, of £500 worth of Irish notes and coins for euro, free of charge;       and will continue to accept Irish notes and coin in customer lodgements.      8. How long will the changeover to euro cash take?   From 1st January 2002, the use of euro notes and coins will be increasing, while the use of Irish pounds will be decreasing. This dual circulation period will end at midnight on Saturday 9th February 2002 (date subject to Oireachtas approval). From that time, Irish notes and coins will no longer be legal tender, which means there will be no obligation to accept them as payment. Cash exchange as set out at No.7 above, and acceptance of lodgements of Irish notes and coins by banks, building societies, post offices and credit unions, will continue for a time after 9th February 2002. The Central Bank will of course continue to give value in euro for Irish notes and coins, indefinitely. 9. What should I do to get ready for the changeover?   You should pay attention to euro values wherever you see them displayed - for example on lotto tickets, account statements, utility bills, tax-free allowance certs, payslips, price lists, and till receipts in supermarkets, shops, pubs and restaurants. 10. What about my hoarded coins?  You can help now by using any Irish coins you have left lying in drawers, jars, etc. and by continuing to put your coins to use from now on, rather than leaving them aside.