Politicians in Belgium and Germany have called for the introduction of euro notes and coins - scheduled for January 2002 - to be brought forward. But the Republic's Euro Changeover Board last night warned of logistical problems with such a move. Next Monday, the Belgian government plans to propose to European finance ministers that the notes and coins be introduced in January, 2001.
In Dublin, the Euro Changeover office said while any action to speed up the process would not require a change to the Maastricht Treaty, it would need the unanimous approval of the 11 euro zone countries. The chairman of the Board, Mr Philip Hamell, said it was the right of the European Commission, not the finance ministers, to initiate such a move.
He also pointed out that when the timetable was agreed in 1997, the Republic and the Netherlands were alone in proposing other dates. The Dutch argued for February 2001 or 2002, while the Irish suggested October 2001; both were concerned about the effects of a changeover on retailers at a busy time of the year.
"The current suggestion would require very careful consideration...there are logistical and other considerations, such as companies who have made plans on the basis of the agreed date," Mr Hamell said.
A spokeswoman for the Minister for Finance, Mr McCreevy, said the Government would be guided by the Euro Changeover Board's position.
Both the Belgian Finance Minister, Mr Jean-Jacques Viseur, and the Belgian Economics Minister, Mr Elio Di Rupo, suggested at the weekend that they would like the European Commission to consider speeding up the timetable.
"The euro is a fact now. We have to see if, at a technical level, quickening (the introduction of notes and coins) is possible. I want to see if it is possible to gain a year, but this is a decision that has to be taken in 11 countries," said Mr Viseur.
Mr Di Rupo said he wanted the Commission "to go a little bit faster".
In Germany, some politicians and economists suggested the notes and coins should be available from as early as next year.
Mr Werner Hoyer, a former junior foreign minister, insisted that there was no technical difficulty in issuing notes and coins early, claiming it was an error of political judgement to set the date at January 1st, 2002: "Politicians underestimated the willingness of the public to accept the new currency."
"Issuing the money earlier would strengthen the feeling citizens have of belonging together. But the three-year period is technically necessary," said Mr Heiner Flassbeck, a senior official at the Finance Ministry.
In Dublin, a spokesman for the Central Bank would not offer an opinion on the possibility of bringing forward the introduction of notes and coins, adding that the matter was not currently being discussed at meetings of central bankers.
"We have a three-year production programme which includes printing 150 million notes and 950 million coins," he said.
During this period, the bank will still have to produce Irish notes and coins - a £5 note, for example, lasts about six months - while stockpiling euro notes and coins. Sources within the Central Bank said last night the production schedule was already "strenuous", and speeding up such a programme would likely cause some problems.
Across the euro zone, central banks and mints must generate 13 billion notes and at least 60 billion coins in new currency. The director of Belgium's mint said an early introduction of actual currency could mean using external contractors, in Britain or Asia.
A spokesman for the European Central Bank (ECB) in Frankfurt said he would prefer to wait to see if the finance ministers would put forward a precise proposal before commenting.
