Nearly half the population knows that the euro is worth between 78p and 80p, but only one in 11 know that the Irish pound is worth €1.27, according to a survey carried out for the Euro Changeover Board of Ireland. Awareness about the change to the new currency is lowest among the elderly, people on low incomes and home-based people. The board is to mount an advertising campaign to make people realise the value of the Irish pound, targeting the low awareness groups while further links with the education sector are being developed including an interactive website for schools.
The board has more than doubled its funding allocation to non-governmental organisations such as citizens' information centres and centres for older people from £275,000 (€349,000) last year to £600,000 this year for euro awareness campaigns. Grants of up to 50 per cent are available to business organisations and 75 per cent for community and charitable groups to run these campaigns.
"We will be intensifying our efforts over the next 15 months to ensure that everyone has access to information about the euro," board chairman Mr Philip Hamell said yesterday.
The survey of euro awareness showed that 92 per cent of people were aware of the name of the single currency; 85 per cent had seen dual pricing, mainly on supermarket receipts or bank statements and utility bills and 70 per cent had seen pictures of euro notes and coins - however, there is low awareness among people over 50 years, especially women over 65 years and people on lower incomes.
Sixty-five per cent knew the new notes and coins would be introduced in 2002 but only 13 per cent knew that the old Irish notes and coins would be in circulation for just six weeks after January 1st, 2002.
Mr Hamell said he realised there was a perception among the public that they could be doublecrossed by retailers and service providers during the changeover period as people believed had happened in the changeover to decimal currency.
"One of the ideas of telling them what the pound is worth in euros is to help them understand what they see on display. I think people will be fairly vigilant," he said. Mr Hamell said the shortening of the time when both currencies would be in circulation to six weeks was decided on because the board believed there would be great confusion. "We're hoping to achieve a situation whereby at the end of two weeks, the bulk of cash transactions will be in euros. Accounts with financial institutions will be converted free of charge, cash withdrawals will be in euros and wages and social welfare payments will be made in euros."
The Government will mint 950 million coins and 200 million euro notes, he said.
