Concern expressed at Irish complacency

Twenty-Two Irish companies were surveyed. Two-thirds of the companies considered that the impact of EMU on their businesses would be low. The consultants expressed concern that such a large proportion of the companies felt that EMU would have a little impact on their businesses at both strategic and operational levels. The Irish respondents' assessment of the impact on relationships with customers and suppliers was significantly lower than that of other potential EMU entrants. The consultants warned that preparedness among two-thirds of the Irish companies in this area was low.

A quarter of the Irish companies indicated they had taken "an aggressive approach" to the business challenges of EMU - a lower level than that in other potential first wave EMU countries. But Irish senior managers appeared to be well informed on EMU issues - over one half of the respondent boards were rated as highly informed, one of the highest levels in the survey.