23 Jan 2006

French Polynesian Assembly backs move to install Euro as currency

7:47 am on 23 January 2006

The French Polynesian assembly has voted in favour of asking the French government to introduce the euro as the territory's money to replace the French colonial Pacific franc.

The proposal is being backed by the ruling Union For Demcoracy led by Oscar Temaru but opposed by Gaston Flosse's Tahoeraa Huiraatira Party.

Mr Flosse says a delegation needs to be sent to Brussels to make sure that the euro won't undermine French Polyensia's economic and social powers.

Mr Temaru says the European countries know and respect French Polynesia and support its right to self-determination.

He says he is now awaiting moves by New Caledonia and Wallis and Futuna to seek a switch to the euro.