Monday 28 May 2018

We are only printing euro, not punts, says Central Bank after Wall Street Journal report

THE Central Bank of Ireland confirmed today that it is not printing Irish punts and is only printing euro.

The bank refused to comment on what it called "speculation" in today's Wall Street Journal that it is considering if it needs to secure additional printing press capacity in the event that it has to print new bank notes to support a "reborn" currency.

The US newspaper quotes "people familiar with the matter" and says other central banks have started to weigh contingency plans to prepare for the possibility that countries leave the eurozone or the eurozone breaks up entirely.

Seven Investment Management analyst Justin Urquhart Stewart said talk of Ireland printing punts was coming from a number of sources, on RTE’s Morning Ireland.

Ireland could be better off and more cost effective outside the euro because our banking crisis has been managed, he said.

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