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Irish Accent

Enter the euro

By John Corry


統一通貨ユーロの流通

欧州12ヵ国で統一通貨ユーロの流通が始まってはや1ヵ月。ユーロ通貨国であるアイルランドでは、元日早朝から、新通貨をいち早く手にしようとする国民がダブリン市内の中央銀行に押し寄せ、お祭り騒ぎとなりました。今週は、ユーロの使い勝手やアイルランドポンドのリサイクル法などについてレポートします。

Getting an Irish person out of bed early on the morning of Jan. 1 is a feat that could only be described as miraculous. Some stout-hearted souls do brave the eerie atmosphere for a quiet stroll along one of Dublin's beaches, but usually it is a day for rest and recovery before a new working year.

Jan. 1, 2002 was remarkable not only for the birth of a new year but for the emergence of people forming an orderly but festive line outside the Central Bank of Ireland early in the morning. It was the official introduction of the euro as legal tender. In total, 12 European countries forming what is now termed the eurozone, adopted the euro on Jan. 1, 2002, the most notable exceptions being the U.K., Denmark and Sweden, which for the time being do not intend to switch from their national currency to the euro.

Bank balances of the entire Irish population were changed automatically on computer to euros, but the physical currency was only available from the Central Bank on Jan. 1, since all other Irish banks remained closed until the following day. There was no real urgency for those queuing, but they were motivated by a desire to be among the first to change their currency from the old Irish punt to the euro.

This level of enthusiasm caught the Central Bank slightly by surprise and by 11 a.m., the line of people waiting outside had grown significantly. However, the bank responded by doling out free champagne, hot whiskey and sandwiches to its first euro customers. The shock of being awake on New Year's morning, combined with the even bigger shock of cold-hearted government bankers giving out free bubbly, strangely, resulted in no heart attacks.

The launch of the euro has been broadly greeted by Irish people with enthusiasm. Given the Irish government's well-founded reputation for poor planning, the new currency has been issued to all shops, businesses and banks with a high degree of efficiency and a surprising lack of hiccups.

We were allowed to use the old Irish currency until Feb. 9, 2002, but most people had changed their paper money within the first two weeks of January. Irish coins took longer to remove from circulation but the transition to the euro was completed before the deadline with very little inconvenience. Personally, it took me three weeks to get rid of my coins — by buying mints, tissues, newspapers, etc.

One aspect to the euro that I find personally annoying is its lack of a plural. Neither the euro nor its component, the cent, has a plural. Therefore, you are supposed to say, for example, "5 euro and 25 cent" instead of the more natural "5 euros and 25 cents." However, most Irish people do not appear unduly concerned about this rule and you will often hear the plural applied even if it is incorrect.

The initial benefits of the new currency are that anyone can now travel between the 12 countries without the need to deal with switching between different moneys. Clearly, this will reduce the stress levels of tourists on European tours. Naturally, it will also give clear advantages for trading between Ireland and the other 11 countries.

One other benefit of the euro is its price transparency. It is now very easy for Irish people to compare the prices of goods and services across the countries of the European Union. In several surveys, Ireland emerged as the most expensive eurozone country for staple foods, perfume and champagne. On the other hand, if you want to buy DVDs, CDs or Levi's jeans, Ireland is one of the cheapest countries.

One amazing difference is that the potato, the central part of the Irish diet, is almost twice as expensive in Ireland as in either Spain or Italy. It remains to be seen whether the euro will cause prices in Ireland to become lower.

The euro coins in each country have different designs on their backs. Irish euro coins have a Celtic harp on one side, German euros have eagles and the Spanish coins show the image of King Carlos I. Reputedly, the most sought-after coin is the Vatican euro. The Vatican's coin features the Pope's profile and only 670,000 have been minted.

Spare a thought though for the old Irish currency. The old coins can be recycled into their base metals and reformed into new coins. However, the old Irish paper money will have to be destroyed.

One Irish charitable organization has persuaded the Irish government to recycle the Irish £20 notes in a novel way. The Society of Saint Vincent De Paul somehow discovered that the quality of the Irish ネ20 note allows it to burn for a long time. Using these notes, a type of papier-mache block suitable for burning in fireplaces can be made. These blocks are being distributed to the poor in Ireland free of charge. A poor person could therefore easily burn many notes per day keeping themselves warm. It certainly adds a new nuance to the phrase "having money to burn."


Shukan ST: Feb. 15, 2002

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