Smooth-as-silk changeover, EU says

By Stephen McKinley

The European Commssion has praised Ireland for its conversion from the punt to the euro.

Pedro Solbes, spokesman for the Economic Affairs Commissioner, pointed to Ireland and the Netherlands as having had the most trouble-free changeover.

“In Ireland and the Netherlands, the changeover is practically complete and very little national currency remains in circulation,” he said.

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.

Interactive TV will

Ireland will soon get interactive television courtesy of Sky TV and Nevada tele.com.

An agreement between the two companies will see a range of new online interactive services made available to Sky Digital’s Irish digital satellite television audience in the first half of 2002. Services available at launch will include e-mail, betting, voting and interactive advertising.

Until now, Sky viewers in the Republic have been able to access only those interactive services that are accessible via the broadcast stream, such as Sky Sports Active’s enhanced soccer and rugby coverage and sky News Active.

Food facts

The Ireland Chamber of Commerce will hold a discussion on investing in the food industry on Tuesday, Jan. 22nd, 11:45am to 2pm, at the Union League, 141 South Broad Street, Philadelphia, PA. Entrance will cost $40 for members and guests and $50 for non-members. For further information, call Kevin McGeehan at (215) 574 3100 or fax RSVP to (215) 574 3109.

High prices

The Irish Department of Finance has calculated that the reintroduction of mortgage interest relief for investors buying second properties could cost E50.8 million in lost tax revenue.

Documents produced by the Tax Strategy Group raise the possibility that the Government has been advised to legislate in the forthcoming Finance Bill to tighten up on EU state aids for development.