Nearly 80 per cent of Irish people know that euro notes and coins are set to be introduced in January 2002, the Minister for Finance Mr McCreevy, said yesterday.
Addressing the euro information conference, the Minister cited preliminary figures from the Euro Changeover Board's latest survey of public awareness regarding the new currency.
The survey, carried out in May, also shows that 95 per cent of people know the name of the single currency, 91 per cent have seen prices in both pounds and euros and 78 per cent have seen pictures of euro notes and coins.
Sixty-four per cent know that a pound will get them one euro and 27 cents - up from 38 per cent in November.
But only 36 per cent of people are aware of the length of the dual circulation period, which will end on February 9th, 2002. From midnight on that date, legal tender status will be withdrawn from pound notes and coins.
On January 1st, 2002, accounts in banks, building societies, post offices and credit unions will be converted to the euro, the Minister pointed out.
From then on, outgoing cash will be in euros, with incoming Irish notes and coins being retained and not reissued to the public.
"We expect some 80 per cent of ATMs to be converted to euro on the first day, and initially, they will dispense predominantly #10 and #20 euro notes," he said.
"In addition, social welfare payments will be in euro; the bulk of these are paid weekly, in cash, and in the first week of 2002 they will generally contain at least four #5 notes."
Last week, the Oireachtas passed the Euro Changeover (Amounts) Bill, 2001, which provides for the replacement of Irish pound amounts with convenient amounts of euro currency as of January 1st, 2002. "In all cases where we have provided convenient euro amounts in law, we have of course acted on the principle of favouring the citizen," said Mr McCreevy.
Front-loading of euro coins to Irish financial institutions will start on September 1st, with the front-loading of notes starting on November 1st.
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