3 Oct 2002

Claims that adoption of the Euro in New Caledonia will boost trade

6:29 pm on 3 October 2002

Authorities in New Caledonia says dumping the French Pacific Franc for the Euro will strengthen its export market and its autonomy status.

The Territorial government spokesperson, Maurice Ponga says the adoption of the Euro is being considered because it will allow New Caledonia to export more to Europe, the USA and throughout Australasia.

Mr Ponga says criticism by some pro-independence supporters that adopting the Euro will make the territory more dependent on France is wrong.

He says that the Euro will boost New Caledonia's economy and allow it financial independence from France.

And Mr Ponga says such a move is in line with the Noumea Accord between New Caledonia and France which allows for increasing autonomy in the Territory.