An upbeat view of what will happen to Irish agriculture when Ireland joins the EMU was given at the National Ploughing Championships by a leading banker. Mr Philip Halpin, chief operating officer with the National Irish Bank, said the arrival of the euro in 1999 would result in significant savings for farmers.
On the issue of the exchange rate at which the State should enter the EMU and whether it should have revaluation beforehand, he said he did not favour revaluation. Ireland had a small, open economy where trade was the basis of growth and where the agri-sector represented 14 per cent of GDP.
Yesterday's Winners: Reversible Class: Adrian Jameson, Co Antrim; Vintage, single furrow mounted: Terence Gibson, Co Longford; Visitors' Class: Thomas Cochrane, Co Derry; Special Horse Class: Thady Kelleher, Co Cork; Standard 3 furrow Class: Thomas Grennan, Co Kilkenny; Loy: Michael J McKeon, Co Longford; Test Match: 1, Martin Kehoe; 2, Eamon Tracey.