The National Economic and Social Council (NESC) has published a report saying membership of the euro has been beneficial to Ireland.
But it says that the euro faces serious challenges - like providing financial support to Greece and the recovery of the whole European economy.
The NESC says that if Ireland had not been part of European Monetary Union, the financial crisis would have hit the country even harder.
But the report says that the past ten years have seen us acting at times like we were not members - in essence receiving all of the benefits, but flouting the spirit of membership.
The council says that in future, to succeed within the euro, Ireland has to make sure its fiscal policy - how it manages it spending and revenue - is sustainable, that competitiveness is maintained, and that financial supervision prevents irresponsible banking practices.
Its report says that the current crisis should make us determined to change how the country's finances are run, because in the past the 'windfall' created by the property boom allowed unresolved issues, like political economy issues, to be glossed over.
