Irelands financial department has no intention to develop any contigency plans in the event that the euro is discontinued

isn'it seeking  asistance from other printing companies to print more pounds, according to journalists from Ireland’s RTE News. However, according to David Enrich of the Wall Street Journal, the Central Bank may consider purchasing new printing presses to start printing new currencies out. Although there is some speculation that Ireland may return to punts in the future, central bankers insist that they are only going to be printing euros. Members of the cabinet and President McAleese are believed to be preparing for the unification of Europe and a transition to the euro. However, no one knows what the future of the euro.

In fact, political forces in the UK aren’t even sure if the euro will exist in the coming years. Chancellor Osborne has stated that he is going to implement measures in the event the euro is no longer the lead currency of the European Union. Many other countries are implementing contingency plans in the event the euro is weakened or completely dissolves.

However, Ireland’s government is planning on relying exclusively on the euro as its major form of currency. Ireland’s financial department has no intention to develop any contigency plans in the event that the euro is discontinued.

Some analysts are not concerned by the moves of the Central Bank, nor do they feel it is a reflection of Ireland’s banking crisis. In fact, banking analyst Justin Stewart claims the banking crisis has been dealt with Ireland is back on track. In short term, no one can be sure what the impact will be for Ireland’s banks.