Committee Reports > List of Committees > Joint > 1999 > Committee on European Affairs > Interim Report No. 02 - EMU: Responses to Recommendations of the Joint Committee

1. Foreword

As part of its 1999 work programme the Joint Committee decided to continue to monitor the EMU Changeover procedures following on the main report of the Joint Committee to the Houses of the Oireachtas at the end of 1998. This is the second interim report in 1999 and outlines the responses to the recommendations made by the Joint Committee in its main EMU report.

The Joint Committee requests that this report be the subject of a debate in both Houses of the Oireachtas.

Bernard J. Durkan T.D.

Chairman

June 1999

EMU: Second Interim Report of the Joint Committee on European Affairs

1.In December 1998, the Joint Committee on European Affairs presented a report on Economic and Monetary Union to the Houses of the Oireachtas. This report was prepared by Mr. Gay Mitchell T.D. The report contained 15 recommendations which are summarised at Appendix 2.

2.In March 1999 the Joint Committee wrote to the various bodies concerned with those recommendations and asked then to outline the position with regard to the recommendations.

3.The various bodies have now responded and the Joint Committee would like to bring these responses to the attention of the Houses. The responses are contained in Appendix 1.

4.The Joint Committee would like to thank the following bodies for their assistance:

the Department of Finance;

the Director of Consumer Affairs;

Forfás;

IBEC;

the Euro Changeover Board of Ireland;

the Department of Foreign Affairs; and

the Department of Environment and Local Government.

5.The Joint Committee wishes to seek a debate on this report in each House of the Oireachtas.

6.As well as the main report, the Joint Committee has now made two interim reports in 1999 on this issue, of which this is the second. In accordance with its 1999 work programme the Joint Committee will continue to monitor the EMU changeover procedures. Earlier this year, it heard presentations from the Director of Consumer Affairs and from the Irish Bankers’ Federation and the resulting report was presented in May 1999 entitled EMU - Interim Report of Changeover Procedures. The Joint Committee intends to take up again the question of changeover procedure with both bodies in the Autumn and a third interim report will then be made to the Houses, before the end of 1999.