Vol. 481 No. 2
49 Mr. McDowell asked the Minister for Finance if he has requested the Economic and Social Research Institute to revise or update its report on the economic implications for Ireland of EMU policy research series paper number 28, published in July 1996; and if he will make a statement on the matter. [15704/97]
The study referred to in the Deputy's question is a very comprehensive analysis from both a macroeconomic and sectoral perspective of the economic implications of EMU membership for Ireland. As the Deputy will be aware the report concluded that, on balance, membership of EMU, even were the UK not to join, would be beneficial for Ireland. In arriving at this conclusion the report took fully into account the prospective impact of future economic shocks, including possible turbulence in the sterling-euro exchange rate. On this basis I see no need to revise or update the report.
