Sterling Joins ERM And Rises
BROADCAST:

The value of sterling has risen sharply on foreign exchange markets today and share prices have risen following Britain’s joining of the European Exchange Rate Mechanism (ERM) of the European Monetary System (EMS). For Ireland it means the punt can never again fall below eighty-five pence or below ninety-six and a half pence sterling.

Report shows interior of Financial Market office of Allied Irish Banks (AIB) in Dublin.

Interview with Brendan Menton, economist, AIB, on the international market and interest rates.

Interview with Doctor John Hogan, Riada Stockbrokers, on the effects of Britain joining the ERM. The reporter is Michael Ronayne.