Most companies remain unprepared for the introduction of the single European currency, according to a survey of small to medium-sized enterprises (SMEs) in Dublin.

The survey of 250 SMEs by Eurodynamics Consultancy found that only 10 per cent of firms "could be regarded as well prepared" for the euro's introduction.

Mr Ernie Mooney, managing director of Eurodynamics, said that the most worrying aspect of the survey was that with less than 120 working days to the start of the new currency on January 1st, 1999, almost a quarter (27.2 per cent) of all companies surveyed had done little preparatory work.

On that date, companies have the option of changing their accounting and pricing to euros.