Written Answers. - Exchange Rates.

Thomas P. Broughan

Question:

101 Mr. Broughan asked the Minister for Finance his views on the rise to parity by the euro with the dollar. [15122/02]

As Minister for Finance, I have not commented in the past on the euro exchange rate and I do not now propose to make any specific comment on the euro exchange rate. However, the recent appreciation of the euro against the dollar, if sustained, can be expected to reduce inflationary pressures both in the euro area in general and in Ireland in particular and to offset to some extent the gains in competitiveness we have achieved over the last number of years.