Press Release
Taoiseach Supports Euro Changeover Campaign

The Taoiseach, Mr Bertie Ahern, T.D., supported the Euro Changeover Board of Ireland's campaign to promote the single European currency, the euro, which came into being today, (Friday, 1st January 1999).

He is pictured with Mr Philip Hamell, Chairperson of the Euro Changeover Board of Ireland and Mr Maurice O'Connell, Governor of the Central Bank of Ireland at a special display to highlight the conversion rate for the euro against the Irish pound.

The conversion rate is 1 euro = £0.787564

The Taoiseach said that the implementation of the Euro Changeover Board of Ireland's comprehensive communications plan would ensure that people will be kept informed about the euro in the coming months.

"I am sure that many in the public and private sector will be introducing dual display, that is displaying prices in euro as well as in Irish pounds, to help their customers adjust to the changeover. The euro can now be used for cashless transactions and the notes and coins will be introduced in 2002. The three years between the introduction of the euro and the changeover to euro notes and coins will allow all sections of our community to prepare for the changeover and to get used to the new currency. I congratulate the Euro Changeover Board of Ireland for the success achieved to date and wish them well in their task for the coming months," he said. Examples of the introduction of dual display in the public sector include:

	all on-line games from the National Lottery, Lotto and 54321 will show the euro equivalent beside the Irish pound amount from 2nd January, and scratch card tickets will also have dual display as soon as printing schedules permit
	Telecom Eireann will begin showing the total amount on bills in both Irish pounds and euro from January and the ESB and An Bord Gais will begin doing so from mid 1999
	from Spring 1999, the tax-free allowance (TFA) certificates from the Revenue Commissioners will show annual and weekly/monthly TFA amounts in both Irish pounds and euro
	Bus Átha Cliath - Dublin Bus will show fare amounts on bus tickets in both Irish pounds and euro from mid-1999. Pre-printed tickets from all three companies in the CIE Group (Bus Átha Cliath, Bus Éireann and Iarnród Éireann) will show fares in both Irish pounds and euro from mid-1999
	during 1999, payslips from Government Departments will begin to show the net pay amount in both Irish pounds and euro
	television licences and renewal notices will show the licence fee in both Irish pounds and euro as soon as possible in 1999
	the Department of Social, Community and Family Affairs will produce a leaflet showing social welfare payment rates in both Irish pounds and euro.

The Changeover Timetable:
	On 1 January 1999, the euro came into being as the currency of the member States participating in EMU (European Monetary Union) and the conversion rates of the currencies of those Member States against the euro were irrevocably fixed. The euro is now useable for non-cash transactions. Euro notes and coins are not yet available, so national notes and coins will continue to circulate.
	On 1 January 2002 euro notes and coins will be put into circulation and the withdrawal of national notes and coins will begin.
	By 1 July 2002 at the latest, and probably a good deal earlier, national notes and coins will have been withdrawn and the changeover to the euro will be complete.

For Further Information & Links contact:

David Curtin, Carr Communications
Telephone: 01 - 278 5000 or 087 2832 123