Coalition accepts Nice vote 'for time being' - Harney

The Tánaiste Ms Harney reiterated the Government's disappointment with the Nice result but said it accepts the public had passed judgment "for the time being".

Ms Harney
The Tánaiste Ms Harney

Ms Harney was speaking at the Central Bank of Ireland's press conference on the preparation for the euro changeover.

Ms Harney told the conference Ireland has enjoyed an unprecedented period stable interest rates due to its membership in the euro zone.

Despite the Government's disappointment with the referendum a debate on Europe was a good thing, she said. "The Government's Forum on Europe will provide a platform for an open and reasoned debate on European issues," she added.

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The conference was also addressed by the European Central Bank president Mr Wim Duisenberg, the Minster for Finance Mr McCreevy and the Minster of State for Consumer Affairs Mr Tom Kitt.

Mr Kitt said to date 11 companies and 11 trade associations have signed up to the National Code on Euro Changeover. This is expected to rise sharply as the publicity campaign on the changeover game momentum.

Referring to the Nice vote Mr Kitt said EU membership had been good for Ireland and now was not the time to be "kicking Europe in the shins".

He added Fianna Fáil remained committed to the EU and the day Fianna Fáil joined the Eurosceptics would be a bad day for the party and for Ireland.

The Central Bank governor Mr Maurice O'Connell said Ireland is meeting its production targets of one billion euro coins and more than 200 million euro notes.

He also stressed the bank is still asking the public to lodge hoarded coins. According to surveys every household in the State holds an average of £24 in loose coins.

There are now just six months left to the changeover to the euro on January 1st 2002, dubbed "E-Day".

Mr McCreevy said research showed over 95 per cent of the public are aware of the euro, 64 per cent know a pound will buy 1 euro and 27 cents but only 36 per cent are aware the dual circulation period for pounds and euro will end on Febraury 9th, 2002. After this date all transactions must be carried out in euros.

Mr Duisenberg is in Dublin for the ECB's governing council meeting tomorrow. He told the conference the euro was already a reality and once the euro notes are used by consumers a major psychological barrier against it will disappear.