Ahern hails introduction of new euro coins

An Taoiseach, Mr Ahern, said today that the first thing he would buy with the new euro coins was his New Year's Day newspaper…

An Taoiseach, Mr Ahern, said today that the first thing he would buy with the new euro coins was his New Year's Day newspaper.

"I look forward to it and have no regrets," he told reporters at a summit of European leaders in Brussels.

"It will be a major step in European integration," Mr Ahern said.

Thousands of Irish people yesterday queued to purchase starter kits of the new coins. Banks and post offices across the State reported brisk sales of the £5 starter packs (€6.35) which gave consumers the first feel of the new money.

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Meanwhile Europeans queued in freezing temperatures today to snap up the starter kits.

"Some were already waiting at 6:30 this morning," said Mr Pierre Van Eylen, working behind the ticket counter at Brussels central station. "At this rate, we'll sell out completely by three o'clock at the latest," he said.

Euro cash arrives in 17 days on January 1st. Nothing is legal tender until then, but the 12 nations adopting the euro are rolling out preparatory packs of coins ahead of time to get citizens used to the feel of the new money.

Kits went on sale in Belgium, Italy and four other countries today. They were released in the Netherlands, Ireland and France yesterday and will be available in the rest of the currency bloc from Monday.

In Italy, 14,000 post offices started selling as many as 10 million starter kits, with banks set to put a further 20 million on sale from Monday.

"When it's windy, at least we won't be blown away because we'll have all this weight in our pockets," said Mr Gustavo Pietrosanti as he lined up to buy a bag of coins.

Kit prices were set at convenient levels in the old currencies, so 25,000 lire purchased €12.91 made up from an assortment of 53 coins ranging from one euro cent to two euros. In Belgium, 500 francs bought €12.40.

Public opinion among the 300 million Europeans affected has been slowly swinging towards the new currency. But a clear majority remain worried that confusion during the changeover will be used by retailers to mask higher prices.

Additional reporting by Reuters

Eoin Burke-Kennedy

Eoin Burke-Kennedy

Eoin Burke-Kennedy is Economics Correspondent of The Irish Times