AIB Bank launches EMU guide

AIB Bank's corporate and commercial division has launched a guide to European Monetary Union (EMU).

The 100 page book, The abc of EMU, includes interviews with Minister for Finance, Mr Quinn; Central Bank governor, Mr Maurice O'Connell; and former GATT director general, Mr Peter Sutherland.

AIB chief executive, Mr Tom Mulcahy, said the book would give Irish business "a clear and comprehensive awareness of the issues around Economic and Monetary Union".

Looking at the consequences for the economy of EMU, Mr John Beggs, economist at AIB Capital Markets and Dr Jim Fitzpatrick, of Fitzpatrick and Associates consultants, argue that the ultimate question for those who query the wisdom of accession to EMU, even with Britain staying outside, is "what alternative policy do you have to offer?".

As long as our EU partners stay on course, Ireland has little alternative but to "stay aboard the Eurotrain", they argue. "To jump off, even temporarily, and join Britain as an isolated and uncertain observer beside the track hardly seems much of an alternative."