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14/12/2001
Local traders prepare for Euro switchover
Northern Ireland Euro Preparations Forum has said that local businesses are preparing well for the Republic’s change over to the Euro on January 1 2002.
However, the statement contradicts recent reports by the Forum and the University of Ulster that suggested many firms in Northern Ireland were ignoring the issue.
According to the Forum, as the January 1 deadline draws closer there is a growing awareness of what the Euro will mean to the business community in Northern Ireland. Understandably, preparations are most advanced among traders in border areas, as many of these already handle both Sterling and the Punt.
The Forum maintain that the importance of a full understanding of the Euro cannot be underestimated, as most firms are involved in a supply chain that at some will involve the Euro.
Among the many public consultations and conferences scheduled for the run up to the switchover is a meeting of the Parlimentary Group of European Socialists, hosted by the SDLP at the Everglades Hotel, Derry.
In a statement preceding the event John Hume MP, MEP, said: “Although not part of the process for the time being, Northern Ireland will undoubtedly be affected by the changeover. Indeed, the three member states remaining outside the Euro, Sweden, Denmark and the UK, will be touched by it but without being able to influence its development.”
The Republic of Ireland is one of 11 European Union nations which are set to introduce the Euro on New Year's Day. (GB)
However, the statement contradicts recent reports by the Forum and the University of Ulster that suggested many firms in Northern Ireland were ignoring the issue.
According to the Forum, as the January 1 deadline draws closer there is a growing awareness of what the Euro will mean to the business community in Northern Ireland. Understandably, preparations are most advanced among traders in border areas, as many of these already handle both Sterling and the Punt.
The Forum maintain that the importance of a full understanding of the Euro cannot be underestimated, as most firms are involved in a supply chain that at some will involve the Euro.
Among the many public consultations and conferences scheduled for the run up to the switchover is a meeting of the Parlimentary Group of European Socialists, hosted by the SDLP at the Everglades Hotel, Derry.
In a statement preceding the event John Hume MP, MEP, said: “Although not part of the process for the time being, Northern Ireland will undoubtedly be affected by the changeover. Indeed, the three member states remaining outside the Euro, Sweden, Denmark and the UK, will be touched by it but without being able to influence its development.”
The Republic of Ireland is one of 11 European Union nations which are set to introduce the Euro on New Year's Day. (GB)
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Changeover to the euro will have widespread effects on NI businesses
The Republic of Ireland has joined the new European currency revolution by exchanging the Irish Punt for the euro, but what will this mean for Northern Ireland businesses? Businesses on both sides of the border are busy coming to terms with the currency changes, but it is only now becoming clear how drastic the changes will really be.
Changeover to the euro will have widespread effects on NI businesses
The Republic of Ireland has joined the new European currency revolution by exchanging the Irish Punt for the euro, but what will this mean for Northern Ireland businesses? Businesses on both sides of the border are busy coming to terms with the currency changes, but it is only now becoming clear how drastic the changes will really be.
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