The euro will be debated in the Northern Ireland Assembly for the first time tomorrow when a motion is tabled calling for the British government to grant it dual currency status in the North.
Ms Jane Morrice, deputy speaker of the Assembly, will ask the British government to acknowledge that Northern Ireland will be in a unique position given its border with the euro zone.
Ms Morrice, deputy leader of the Women's Coalition, believes dual currency would provide a compromise solution to the single currency issue.
She said: "This is not based on the pro or anti-euro arguments, it is not about giving up sterling or adopting the euro - it is about the benefits of a dual currency system to trade, industry and investment."
Ms Morrice was formerly head of the European Commission Office in Belfast. She believes that unless Northern Ireland establishes a new euro-friendly mechanism, it will lose business.
"The euro is a reality. It will be in circulation across the Border in a few short weeks, and the 'pound-punt experience' shows that we will not be able to stem the flow of euros into our shops and businesses," Ms Morrice said.
There was a danger that firms close to the Border will be unable to compete with counterparts in the Republic from January 1st. Mr Wilfred Mitchell, policy chairman for the Federation of Small Businesses, said: "We are delighted that, at along last, our Assembly is debating the euro."
