Finance Minister, Mr McCreevy can expect a pointed lecture today from newly-installed European Central bank president, Mr Wim Duisenberg today with he and his colleagues from the 11 founding members of the euro club meet.
The budgetary issue has been identified by analysts as the key determinant to whether EMU is an early success or flop. Concern has already been expressed in EU circles about Ireland's phenomenal rate of growth and its potential for inflation. Analysts are worried that a potent mixture of burgeoning consumer credit, tax cuts and budgetary revenue spending ahead of inflation will all encourage the return of inflation just as the Government loses its control of both interest rates and exchange rates.
The argument is that without careful co-ordination of EU budgets, monetary policy alone will have to tackle inflation inside the euro zone - something which may not be appropriate for some economies, leading to political confrontation and a risk of breaking up the Union.
Sources said the outlook for 1999 budgets and the "stability programmes" setting out budgetary plans for the next three years, which all single currency participants are due to present this autumn, would dominate the meeting.
Dixons: Electrical retailer Dixons releases full year figures on Wednesday.
The owner of Curry's and The Link had a bumper first half of the year after building society windfalls filled shoppers' pockets but Christmas sales figures were disappointing.
Analysts are concerned shoppers will switch to buying goods through the Internet rather than on the high street and the City will be looking for reassurance from the company, which has only recently expanded into Ireland.
Monday
Results: Farepak, Samuel Heath & Sons, Matthew Clark, Norbain, Tomkins, Whitecroft.
A.G.M.: Benchmark Group (e.g.m.), Camellia, CFS Group (e.g.m.), Haemocell, London Town (e.g.m.), Seton Healthcare, Victoria.
Meetings: Meeting of EMU-11 finance ministers on budget plans; South African Minister, Mr Kader Asmal addresses Dublin Chamber of Commerce and Ireland-South Africa Trade Association breakfast (Jurys Hotel, Dublin).
Indicators: British industrial production (May)
Others: Bank of Ireland to announce service improvements including abolition of certian charges and changes in current account structure.
Tuesday
Results: Berkeley Group, Bespak, Budgens, Greenwich Resources (H1), Harvey Furnishing, JWE Telecom, Kalamazoo Computer Group, Low & Bonar (H1), Mentmore Abbey, John Menzies, Oriental Restaurant Group, Precoat International, RPC Group, Savills.
A.G.M.: Advent Vct, Alphameric (e.g.m.), Evans of Leeds, Haemocell (e.g.m.), Jumbo International (e.g.m.), Murray Ventures (e.g.m.), Wyndeham Press Group.
Meetings: European Central Bank meeting (Frankfurt).
Indicators: German unemployment (Jun).
Others: Publication of "Banking Law in the Republic of Ireland" by John Breslin.
Wednesday
Results: Dixons Group, Heiton Holdings, Scottish & Newcastle.
A.G.M.: Albany Inv Tst, Berry Birch & Noble, Charles Stanley, Coffee Republic, Donegal Creameries.
Meetings: Bank of England monetary policy committee meets.
Indicators: US consumer credit (May); British manufacturing orders (May)
Others: DHL Worldwide Express Export Award presentation (Shelbourne Hotel, Dublin).
Thursday
Results: Aberforth Split Level Trust, Bensons Crisps (H1), Somerfield.
A.G.M.: Anglo Pacific Group, Arcon, BAA, Christian Salvesen, Cox Insurance Holdings, First Choice Holiday (e.g.m.), Greycoat, Helphire (e.g.m.), Integrated Asset Mgmt, Ryanair (e.g.m.), Theo Fennell, Umeco.
Meetings: Bundesbank council meets; Bank of England monetary policy council meeting continues; Irish Exports Association's breakfast on problems with capacity addressed by Dan Flinter; KPMG/ PeopleSoft seminar addressed by Prof Stephen Garelli, a leading expert in European competitiveness environment (Berkeley Court Hotel, Dublin).
Indicators: Irish consumer price index (Jun), planning permissions (Q1) and public sector employment (Dec); British MPC announcement; French GDP (Q1).
Friday
Results: British Bloodstock Agency, Inn Business Group (H1), Shield Diagnostics Group.
A.G.M.: Anglo American Coal, Energy Technique, Leslie Wise (e.g.m.), Maelor, River & Merc 1st UK, J Sainsbury, Storehouse, Walker Crips Weddle.
Indicators: Irish industrial employment (Sep); US producer price index (Jun); French consumer price index (Jun).
