The Year of the Euro – 2002

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Compliments of Wikipedia

What is the euro?

The euro is the new single currency for twelve EU Member States, including Ireland. The twelve Member States that have joined the euro are: Austria, Belgium, Finland, Greece, Ireland, Italy, Luxembourg, Netherlands, Germany, France, Portugal and Spain. Denmark and the United Kingdom decided not to join the euro at the beginning. Sweden was judged not to have met the necessary conditions.

When will euro notes and coins come in?

Euro notes and coins will be put into circulation on 1st January 2002.On that date euro notes and coins will come in and Irish pound notes and coins will begin to be withdrawn. By midnight on Saturday, 9th February, the changeover to the euro will be complete.

What else will happen on 1 January 2002?

Banks, Building Societies and Credit Unions etc. will issue euro notes and coins only. All Irish money accounts will be converted to euro free of charge. ATMs will commence dispensing euro notes. Non-cash transactions (e.g. credit /laser cards etc.) will be denominated in euro. Retailers will continue to accept payment in Irish notes and coins but will issue change in euro only.

What will the new currency be like?

There will be 100 cents to the euro. The notes will be in units of 5, 10, 20, 50, 100, 200 and 500 euro. Eight coins will be issued in denominations of l, 2, 5, 10, 20 and 50 cent and 1 and 2 euro. An Irish design will appear on one side of each coin featuring the harp and the word ‘Eire’. There will be one common set of designs for euro notes; there will be no national features in the note’s design.

How many euro will I get to the pound?

You can think of the euro being worth about 80p; this will mean that an lrish pound

Will be worth 1 euro and 27 cents.

Will I be able to use euro notes and coins in all twelve Member States joining the euro?

Yes. You will be able to use euro notes and coins (no matter which national design is on

the coins) in all the twelve Member States of the euro area.

What will happen about Social Welfare payments?

From 1st January 2002 all Social Welfare payments will be issued in euro.

What will happen about Social Welfare pensions?

From 1 January 2002 all Social Welfare pensions will be issued in euro

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About this record

Written by To be confirmed!

Published here 10 Jul 2023 and originally published Christmas 2001

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