9 days into the Euro

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The changeover from Irish punts & pennies to the Euro has gone smoothly since 1st Jan.This week we finally managed to get into the bank(very long queues) and piced up our Euro cheque books & handed in all the old money.The ATM machines closed down from 1am to 6am on 1st January so that they could be stocked with Euros.We took our first money out at 9am on New Years Day..no problem.

On the whole there doesn't seem to be any profiteering.The Irish Gov.sent every household a free Euro calculator & these have been much in evidence in the shops.Neither as was feared,have the bad boys staged armed raids on all the security vans transporting the billions of euros around to all the banks.

One fact, which will no doubt emerge to the sounds of fury, is that although the euro currency can now be used within the EC (except UK) all Euro cheques written in a different country will still be treated as a foregn cheque as there is no central clearing system as yet.

Thus if our Italian stockist wants to pay us in Euros by cheque it will still cost us 15$ to have processed & take up to 3 weeks to clear.

How does that help our business ? Not alot!

If we all know about Euros now does that make us eurologists?

-- Chris (Chris@ireland.ie), January 09, 2002

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