28 Jul 2004

French Polynesia told other French Pacific territories would need to back a switch to the Euro.

3:20 pm on 28 July 2004

A spokesman for the French Polynesian Government says any adoption of the Euro by the territory would have to involve other French territories in the Pacific.

Manuele Terai, an advisor for the French Polynesian president, Oscar Temaru, says this was spelt out to Mr Temaru and advisors during recent talks in Europe.

Mr Terai says France specifies if the Euro is to be adopted,it must be done regionally, drawing in New Caledonia and Wallis and Futuna.

"It needs to be discussed or studied carefully, because according to the criteria that the French Republic, or France, wishes to introduce is that if we did agree on adopting the Euro it must be done on a regional basis. In other words, this would include New Caledonia, Wallis and Futuna and Tahiti."

Mr Terai says these French territories will now have to hold preliminary discussions before any further decisions are made on the issue.