10 Dec 2004

Paris meeting called on swapping euro for French Pacific Colonial Franc

1:52 pm on 10 December 2004

Leaders of French Pacific territories will discuss a proposal with France to introduce the euro in 2007.

The talks in Paris are expected to open later today and will involve delegates from New Caledonia and Wallis and Futuna and French Polynesia.

The three territories have been using the Colonial French Pacific Franc which was created after the Second World War.

Tahitipresse reports the French Polynesian budget and finance minister, Georges Puchon, as saying its still premature to decide on the introduction of the euro.

There have been positive comments from the business community.

Last year, the French Polynesian government said it wanted a referendum on the euro question on condition that the E-U left the tax system in the territory untouched.