'Feel, look, tilt and hand back' new notes

It was billed as an "informal press briefing" but officials kept a very formal eye on the packets of Euro currency handed out for inspection at the Central Bank yesterday afternoon. Clearly worried about journalists' reputation for taking notes at every opportunity, staff carefully monitored a situation in which two full sets of the paper currency - worth €885 each - were circulated around a conference table.

The new notes have more security features than Jane's Defence Weekly, and promotional material invites the public to test their authenticity with three simple steps: "feel, look, and tilt". But guests at the Central Bank yesterday were urged to use a special four-step programme: "feel, look, tilt and hand back".

And while distribution of the notes to banks began last week, thanks to the success of yesterday's security operation there will be no notes in general circulation for a while yet.

The new currency is undoubtedly handsome, if lacking in personality. Political sensitivities ruled out the depiction of any dead heroes and the only human touch - European Central Bank president Wim Duisenberg's signature - looks less like a signature than a scribble made by someone testing a new biro. Even the bridges depicted on the notes are designed to be anonymous, although the aqueduct on the €5 has already been claimed by France as the Pont du Gard near Nimes.

But the colours are certainly appealing, and the special features, which include state-of-the art holograms and colour-shifting ink, are also impressive. The latter feature means that, when tilted, the value numerals change from purple to olive green or brown. The €500 note was particularly attractive, we all thought, although with the economic slow-down, it may be a while before any of us see it again.

The Central Bank expects to distribute all 168 million euro notes to Irish banks by the middle of next month, at which time "starter packs" of euro coins will also be on sale.

The coins - also on display yesterday - make some concession to local feeling, with the harp still a central feature. But as the bank ushers in an era of impersonal, trans-national currency, yesterday's guests were also invited to make a poignant visit to the boardroom, where the woman who was for long the face of Irish currency graces the wall.

Lady Lavery, beautiful if a little underfed, and still a ghostly presence in the watermark on notes, continues to stare soulfully from the original portrait. But not for long. To mark her retirement from the world of Irish finance, the picture goes on long-term loan to the National Gallery next year.