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Empty the Couches
There's IR£285m in Irish punts still just lying around
The Central Bank says there are €362.5 million of Irish punts still to be exchanged – that’s £62.32 for everyone in Ireland.
12.10pm, 23 Feb 2012
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IF YOU’RE a little short on cash, it mightn’t be a bad idea to have a root around under your bed or inside the cushions of the sofa – because there’s still a fair amount of Irish currency sitting around.
The Central Bank says £285m of old Irish punts – which have not been legal tender for 10 years now – have still to be cashed in, with the Irish public opting to hang on to the old currency in spite of its legal worthlessness.
The €362.5 million stash of currency – hoarded in jars and sock drawers across Ireland – is mostly made up of banknotes, with almost two-thirds of the unused punts (IR£187 million, €237.4 million) still circulating in paper format.
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The nationwide stash of ceremonial IR£1 millennium coins, and collections of copper coins hoarded in piggy banks and elsewhere, account for the remaining IR£98.5 million (€125.1 million).
While the Central Bank currently exchanges Irish punts for their fixed euro equivalent – and has done ever since Irish currency formally lost its status as legal tender on February 10, 2002 – the exchanges may be closed off in future.
The government says the process of exchanging punts for euro will be kept under review, while the Central Bank says operating its permanent exchange service costs €368,600 every year.
Although the Central Bank still exchanges a surprising amount of Irish currency on a daily basis – with some €10,000 being exchanged every day – the current rates mean it would take 140 years for all Irish currency to be cashed in.
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If immigration was apparently the top issue, and the single-issue far-right anti-immigrant parties couldn’t even get seats, then there is no hope for them lol. The current govt who have been overseeing the migration “issue” is reelected. This echo chamber won’t be happy and clearly doesn’t reflect the rest of the nation.
@9QRixo8H: these people predominately exist on social media and are based on foreign soil. They absolutely do not represent the views of the vast majority of Irish people
ming has worked tirelessly to call out hypocrisy corruption and general BS since he started in his career.. he is one of the most honest politicians I’ve ever come across.. he actually wants to improve our country.. most politicians are just spouting about whatever topical soundbites are currently fashionable to have an opinion on, while behind the scenes being only interested in lining their pockets.. this man is the real deal.. just my opinion..
@Oh Mammy: Think he supports FFG, who have topped the polls. How many votes did your far right parties get? You’ve all been very quiet licking those wounds.
At least he called out the agribusiness lobby. On a radio discussion some idiot tried to raise the “derogation issue.
Ming pointed out that it affected some 300 farmers in the constituency out of 13,000 and asked why it should be discussed.
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