Euro Currency - 1 JANUARY 2002
Euro currency comes into circulation on Tuesday 1 January 2002, which is a Public Holiday. This is the commencement of the dual currency period ending at midnight of 9 February 2002. Both IR£ and euro are legal tender during these first six weeks of 2002.
The European Monetary Union (E M U), commonly referred to as the euro zone, now comprises twelve countries (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain), since Greece joined on 1 January 2001.
Euro currency is denominated in seven notes (5, 10, 20, 50, 100, 200, 500 euro) and eight coins (1, 2, 5, 10, 20, 50 cent and 1, 2 euro). The notes have a common design for all twelve countries. Euro coins have one common side, with the other showing a national emblem or royal bust. Ireland and Belgium are the only ones utilising a common national design on all eight coins. Both the Vatican and San Marino will also issue euro coins and the Principality of Monaco is negotiating with France to do likewise. Posters illustrating the designs of the euro currency are on display in public areas and offices. Euro Changeover Board of Ireland (E C B I) leaflets with press-outs of notes and coins are also available.
Retailers have undertaken to issue change in euro and bank all the Irish currency received from customers. Larger retailers will be supplied with euro currency from September 2001 by the Central Bank. Smaller outlets will be required to arrange deliveries in December 2001 from their own bankers. The general public can obtain euro notes, 10 and 20 euro notes mainly, from P R machines from 1 January 2002.
Banks, Post Offices and Building Societies will exchange up to IR£500 for euro, free of charge, for the general public from 2 January 2002. Euro coins circulation will substantially be dependent on change giving by shops and on social welfare cash payments from 2002.
C I E - Bus and Rail Services
Passengers are asked to co-operate with the companies' requests which are made to reduce unavoidable delays which will be caused by having to deal in both Irish and Euro monies during the dual currency period. Bus delays arising from the extra time taken to issue tickets will result in longer journey times with consequential late arrivals by passengers at destinations, lost services and overcrowded buses.
Rail passengers will miss train departures due to slowing of queues at booking offices. On buses and at the majority of stations, it will be impossible to increase ticket issuing capacity to offset cash handling difficulties where IR£ is tendered which must be evaluated in euro, ticket issued in euro and euro change given.
Customers are requested to:
- Buy commuter tickets or other special pre-paid tickets.
- Tender exact amount of fare, particularly on buses and at DART stations.
- Allow extra time to buy rail tickets or buy tickets in advance.
- Not offer mixed currencies in payment for fares.
Companies' policies include:
- Change will not be given on Dublin buses.
- Change will be given in euro at rail booking offices, where practical.
- Tickets, with the exception of DART, will show fares in both currencies until 31 March 2002.
- Change cannot be given on provincial city buses during the dual currency period when mixed currency is tendered.
- Large denominations notes will not be accepted for low value fares.
- The maximum number of coins accepted per transaction is twenty.
These steps are necessary to accommodate both the travelling public and cash handling staff, including bus drivers during the dual currency period when the weather is generally most inclement.
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