May 1998
Participating countries to be agreed and announced
Exchange rates between participating currencies will be announced but not enforced until January 1999
January 1st, 1999
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The euro is established as the currency of EMU but economic agents may choose to operate either in the euro or in national currency
Most consumers continue to deal in national currencies
January 1st, 2002
Euro notes and coins will start to circulate in all EMU countries
Irish pound notes and coins will be withdrawn
Euros will be paid out by banks, shops and ATMS
