Ja readies itself for the Euro

By Al Edwards, Acting Financial Editor

THE EURO, an amalgamation of 11 European currencies is due to come into effect in Jamaica on January 1,2002.

De La Rue, one of the world's leading banknote security operators will have the task of familiarising the Bank of Jamaica (BoJ) with the currency and ensuring security measures are effective.

De La Rue's technical director for the new currency and senior liaison officer between De La Rue and the European Central Bank, John Haslop speaking to Wednesday Business said: "What we are trying to do is help the Bank of Jamaica to help the whole of the commercial population of Jamaica in understanding the Euro before actual Euro day or E Day on January 1,2002 hits.

"With the amount of money which is used in the tourism industry in Jamaica it is essential that the professional cash handlers to start with, recognise what the new Euro looks like and what the security features are so they can therefore take the appropriate action. It has yet to be determined whether the Euro as a single currency as opposed to disparate European currencies will be regarded with any degree of potency in Jamaica.

De La Rue's involvement with the Bank Of Jamaica dates back to independence. De La Rue sees the Euro as just another currency that has to be processed in one form or the other and it represents an opportunity for the company to showcase its abilities.

De La Rue's regional director J. Trevor Jones said: "It's quite exciting when you consider the countries of Europe have joined

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