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Ireland Praised For Speedy Euro Changeover

by Amanda Banks, Tax-News.com, London

11 January 2002

The European Commission on Wednesday praised Ireland for being one of the first countries to have nearly completed the euro changeover.

'In Ireland and the Netherlands, the changeover is practically complete and very little national currency remains in circulation,' explained Pedro Solbes, spokesman for the Economic Affairs Commissioner.

This means that it has taken just nine days for the new European currency to sweep the country and displace what is known as the 'legacy currency', the Irish punt.

The new year has started well for Ireland, heaped as it has been with praise from every direction. In the annual Globalisation Index, published on Wednesday, the country won more applause when it was designated as the most globalised country in the world, coming in ahead of the US and 60 other countries.

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