Replace sterling with euro - Sinn Féin

Sinn Féin's Mitchel McLaughlin, pictured left making a dramatic pose, has said the euro should replace sterling as the currency in Ireland's north to pave the way for an all-Ireland economy.

Sinn Féin made the proposal in a draft Enterprise and Job Creation policy document to be voted upon at the party’s Ard Fheis next month.

Mitchel McLoughlin, who was a member of a Policy Review Group that drafted the document, said having a single currency would promote economic harmonisation north and south of the border.

"The extension of the euro throughout the whole island is part of the transition to an all-Ireland economy with one tax regime and one currency," said the Sinn Féin general secretary.

"We believe that currency harmonisation is a necessary step in paving the way for reunification and would yield substantial benefits in terms of economic development particularly for those communities in the border region."

The Sinn Féin policy document, which will be debated at an internal party meeting on Saturday, calls for a all-island bodies to encourage indigenous and overseas investment.

It also recommends a harmonised 17.5% rate of corporation tax north and south of the border.

An all-Ireland rail network, more north-south air routes and a state oil and gas exploration company are also proposed.

I have to give credit to Sinn Féin for these proposals. Good, solid ideas that will benefit the island as a whole.

An all-Ireland economy is the way to go if you believe the British government who claim the North's economy is unsustainable in the long-term, so let's step up measures to make sure we have an all-Ireland economy that is sustainable in the long-term.

Replacing sterling with the euro is a step in the right direction.

Nationalists have been at each other's throats in recent times. Let's put the petty squabbles to one side and unite around this idea which is one that all of us can embrace.