Written Answers. - Irish and German Currencies.

Gay Mitchell

Question:

99 Mr. G. Mitchell asked the Minister for Finance if the Government has given consideration to a direct linking of the Irish Punt to the German Deutschemark; and if he will make a statement on the matter.

Our policy is to sustain a strong currency within the European Monetary System and to implement whatever monetary and other measures are necessary to that end. As the Irish pound is in the narrow band of the EMS, it cannot deviate by more than 2.25 per cent from the Deutschemark and other currencies in that band. There are no plans to change the present arrangements.