The new euro will bring profound changes to the lives of all European citizens. It is important to ensure that consumer interests are not compromised by the economic upheaval that lies ahead. It is still unclear whether the obligations of retailers, consumers and the financial services sector will be the subject of soft laws or more stringent measures, such as directives or regulations.

What is clear however, is that some system will be put in place in advance of the start of the transitional period on January 1st, 1999.

The Irish decimalisation experience in 1971 is of assistance to the EU in the planning phase. Research shows that there was a degree of suspicion in the minds of citizens about the change-over, well above the healthy scepticism which might normally be expected in such circumstances.

Although some complaints were made about unscrupulous trading, the main problem at that time appears to have been the level of confusion experienced by consumers. This was so, despite meticulous preparation by the State, consultation with interest groups, early changes to the schools curriculum, and the provision of a large quantity of information for the public.

The plans for EMU have, up to now, involved the adoption and implementation of the basic principles - economic criteria, dates and procedures, amendments to existing legislation, creation of the European Central Bank, and so on.

In more recent discussion documents, the European Commission has shifted to an examination of the more practical aspects of the transition.

The commission appears to have rowed back from its assumption that mandatory rules are necessary to ensure that the principles which ground EU consumer policy are maintained.

But it has established a technical working group to examine alternative possibilities for legislation. It is not quite clear what format any proposed measures might take, but a decision is expected soon. Four issues dominate current speculation in this regard:

European consumer groups are adamant that conversion charges must not be imposed by the banking sector during the transitional phase or on the issue of notes and coins, since this would act as a deterrent.

Consumers want reassurance that there will be some element of dual display of prices, even after the notes and coins have been introduced.

Any question marks over the respective legal positions of parties to long term contracts (especially mortgage and other loan agreements) must be sorted out now.

There is a need for information and education. Consumer lawyers will argue that the first three issues could realistically form the basis of EU directives, provided this is done quickly.

It is in the provision of information, however, where most of the effort will ultimately be allocated.

Provision of extensive consumer information is necessary to ensure that the entire EMU project meets with public approval in those countries where sensitivities still surround national currencies.

Information about the euro has up to now been largely targeted at the business sector. Large amounts of EU and national funding has been made available for campaigns to heighten awareness among the business community.

The provision of such information is laudable, but in the main, it appears to have been of more benefit to the larger players in the sector. At the other end of the scale, consumers - and to a significant degree - small businesses such as retailers remain unaware of the implications. Yet these sectors will have the most exposure to the new currency when it is put into circulation.

Direct information must be made available to the public. Retailers will need similar support if point-of-sale confusion is to be avoided. It cannot be too early for this process to begin, since the final decisions will be taken next May. Some efforts are already being made; the European Commission and the Director of Consumer Affairs are co-sponsors of the European Consumer Information Centre on Dublin's O'Connell Street, where a large amount of free information and advice is available. The Commission Information Centre on Dawson Street performs a similar function. In addition, the Department of Finance has been very successful to date in co-ordinating the planning for EMU in Ireland. However, the EU and national authorities also need to reach out to the public, and the preparation and implementation of these measures cannot be left to the medium or long-term.

Paul McGarry is a practising barrister and former adviser with the European Commission. He is also a member of the Single Currency Changeover Group.