Dáil Éireann debate -
Wednesday, 9 Jul 1997

Vol. 480 No. 2

Written Answers. - Currency Conversion Process.

Ruairí Quinn

Question:

150 Mr. Quinn asked the Minister for Finance his views on when the EU and the ECOFIN Council will decide upon the mechanism and the precise procedure which will be adopted by all participating member states in the single currency in respect of the fixing of the rate of exchange or value of national currency with the Euro; and if he will make a statement on the matter. [13461/97]

Minister for Finance (Mr. McCreevy)

As the Deputy is aware, no decisions have been made at ECOFIN level in relation to either the mechanism or the precise procedure of the conversion process. I see no value in commenting further on this matter because any such comment would be unhelpful given the market sensitive nature of the issue.