THE President of the European Commission, Mr Jacques Santer has backed the ambitious Irish agenda to finalise single currency preparations by Christmas.
Mr Santer said he was "quite sure" all the necessary work would be completed during the Irish Presidency to allow monetary union to go ahead as planned.
Mr Santer told the press conference after the plenary session in Dublin Castle yesterday that the Minister for Finance, Mr Quinn had "made it quite clear" at the meeting how he intends to proceed. "On January 1st, 1999, the Euro can start," Mr Santer declared.
He also stressed that the EU would launch a "vast campaign of information" to educate European citizens. "The citizens must realise that the Euro is not just for the bankers, industrialists and the economy," he said. "Citizens must participate."
The meeting also decided on a timetable change in the progress to monetary union. The decision on the relationship between those inside the Euro area and those outside was now likely to be finalised at the Ecofin meeting in November, rather than September as was originally envisaged.
It also looked more likely that the Trans European Network project, to develop the European transportation and telecommunications infrastructure, would go ahead.