Banks around the country have completed their first full business day under the euro regime without reporting any major problems.
While nearly all ATM machines in the country are now operational in the new currency, long queues formed in many banks. Despite the extra business, the Irish Bankers Federation reported a smooth transition to the euro, with no shortages or cash distribution problems.
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It put the success of the changeover down to the preparation work that was carried out by groups such as the Euro Changeover Board in the run-up to the introduction.The Central Bank also reported an easy changeover, with a small number of people queuing today to change their currency to euro. The bank is advising members of the public to familiarise themselves with the new banknotes, particularly their security features."Following all of the pre-publicity, people now need to handle and inspect the notes to really get to know them," a spokesman for the bank said today.The Director of Consumer Affairs, Ms Carmel Foley today appealed to people on both sides of the counter to be reasonable in their approach to the euro conversion."The number of calls to my Office increased from 83 yesterday to 257 today but this was expected as businesses got back to work", she said. "About one third of all the calls received today were about businesses not accepting Irish currency. On investigation we found that the majority of pubs were in fact providing an exchange facility on the premises although not all were exchanging small coins."Ms Foley stressed that Irish pounds and pence are still legal tender until February 9th, and called on retailers to provide facilities allowing consumers to spend in their old currency.She advised people not to panic in trying to use up their Irish coins as banks will exchange them for several weeks yet.
"There is some confusion caused by lack of understanding, rather than rip-off problems. We have found the odd human error, but in fact we found cases as much in the consumer's favour as otherwise."
"Feedback from my inspectors throughout the country and from calls to my Office suggest that there are no major problems emerging. However, inspectors will continue their work checking conversion prices and investigating issues of concern", she said.There were few hiccups in Irish shops today as they converted to the new currency, with no sign of the confusion or chaos eurosceptics had warned of."It's going very smoothly - we've had no problems," said Ms Anne O'Reagan, waiting for her next customers behind the till in Marks and Spencer on Grafton Street with no queue in sight."It's taken us a bit longer because you have to get used to the coins," she said.The euro was also seeping into Northern Ireland, where border towns have long accepted the punt as well as sterling, the official currency, and are now also taking euros.The unofficial use of the euro in Northern Ireland will be watched with interest in Britain, which has not joined the 12-nation euro zone, with europhiles hoping that the arrival of the euro will help turn the eurosceptic tide there.
Additional reporting AFP