Irish pound introduced UK versions. When the UK 5p and 10p coins were reduced in size, the Irish followed suit, but the new Irish 10p was smaller than the new UK version introduced in 1992 and the new Irish 5p was slightly larger than the UK version introduced in 1990. The Irish 50p was never reduced in size (as it had been in the UK in 1997). 31 December 1998, the exchange rates between the European Currency Unit and the Irish pound and 10 other EMS currencies (all but the pound sterling, the Swedish krona and the Danish krone) were fixed. The
Local currency more widely criticized as having limited success in stimulating spending in local economies, and as an unrealistic strategy to reduce carbon emissions. Modern local currencies can be classified into the following distinct types: 1. Transition currency based on the local currencies used by the Transition Towns movement in the UK. They include Brixton Pound and Bristol Pound in the UK, BerkShares in the USA, and Salt Spring Dollars in Canada. Transition currencies are payment voucher-based systems that are exchangeable with the national currency. Between 2002-2014 many experiments in local currency took this form. Such currencies aim to raise the resilience