Vol. 310 No. 4
asked the Minister for Finance the consideration which has been given to the situation presented by the large amount of English currency presently circulating in Ireland, in the event of Ireland, on joining the European Monetary System, breaking the link with sterling.
145.
asked the Minister for Finance the estimate for the amount of British currency presently in circulation in Ireland.
I propose, with the permission of the Ceann Comhairle, to take Questions Nos. 144 and 145 together.
All the implications of the proposed European Monetary System, including such aspects as the circulation of British currency in the State, are being fully examined.
Data on the amount of such currency currently in circulation are not available. It is estimated, however, by the Central Bank that domestic holdings of British currency on 31 December 1977 were of the order of £40 million to £50 million.
