Vol. 401 No. 5
59 Mr. J. Bruton asked the Minister for Finance his views on the proposal of the President of the EC Commission that the ECU should suffer no restrictions on its use in member states, and should be treated in the legislation of members states as if it was a national currency; and if he will outline the implications of this proposal for Ireland.
In recent years the ECU has become a major international financial currency and is increasingly being used in commercial transactions. Irish Government securities have been issued in ECU denominations. In this country the ECU is, in general, subject to the same restrictions as apply to all foreign currencies but it does receive preferential treatment in certain circumstances under the exchange control regulations.
