It has been 20 years since the Irish started paying with Euro instead of the Irish Pound. What has the Irish entry in the European currency system brought to the country? And how has the Euro changed the economic scenery? 

In 2002 the Irish pound was replaced by the Euro. From 1938 the Irish Pound was the dominating currency in Ireland. However, you were able to pay with British Pounds in most places even though you could not pay with Irish Pounds in England. Even though the Irish Pound was officially introduced in 1938 valuta exchanges in Ireland had been based on pounds in different forms since the year of 997. Entering the European currency system was a big change to the culture and the economic situation in Ireland. 

The nations connected through a common currency

A country’s currency and what it is worth compared to the other currencies is telling for the country’s economic situation and whether it is healthy or not. A strong national economy means a strong currency. In 2002 when the Euro was introduced, bills and coins in Euros were officially distributed to 12 EU countries and the largest money exchange in history took place. The value of the existing currencies was converted into Euro, and the Irish Pound was set to 1 Euro at the price of 0,787564 Irish Pounds. Even though it had a rocky start it was a mark of an orientation towards the cooperation across the European countries’ boundaries. 

Know the currencies and understand national economy

As written a country’s currency is important for its economy. Having knowledge on the different currencies, their fluctuation and their value in relation to each other can provide a better understanding of national economics. If you want to learn more about the different currencies and their value compared to each other, you can use this guide to help you get started. Through this site you will be presented to the world of Forex Trading which is based on currency exchange. Forex Trading can give you a solid insight in the dynamics of currency values and a possibility to weigh the different currencies against each other. And if you want to try Forex trading yourself, this is how to get started.

The British pound and Brexit’s effect 

Looking to Ireland’s neighbour, the consequence of not being a part of the European Union and the currency is obvious. The British Pound has fallen in value compared to the Euro. The Irish decision to introduce Euros as the currency seems to have been the right decision. In the first few years the British Pound’s rate was higher than Euros as it was a new currency and investors were concerned that it might just be a mayfly. However, a lot has happened since then and when you look at England, the value of the British Pound and the trouble Brexit has brought, it seems like it is good to be a part of the EU and the European Currency System.  

Canada is considered one of the best countries in the world to live in, and is also one of the countries with the largest number of international students. This is no surprise: the high quality of life, a renowned education system and the economic prosperity of the country make studying in Canada one of the best options for students from all over the world.
To study in Canada as a foreigner, you will need either a travel permit or a visa, depending on the length of stay and study. In some cases, you can simply travel to Canada with an eTA and do not need to apply for a visa. However, the eTA is not sufficient for a longer stay, and in these situations a specific study permit must be obtained.
What is the eTA Canada?

The eTA (short for “electronic Travel Authorization”) is an electronic travel authorisation that allows citizens of 55 countries, including Ireland, to enter Canada without applying for a visa. The eTA application can be completed online using a digital application form, so you don’t have to visit the Canadian consulate or embassy. Applications generally take around five to ten minutes to complete and processing of the application takes around three days. Once approved, an eTA Canada allows you to stay in Canada for up to 6 consecutive months during an overall 5-year validity period. This makes it an ideal option if you want to study in the country for up to 6 months, as visa applications for Canada usually take several weeks or months and are more expensive.
Students who travel with only an eTA Canada can leave and re-enter the country as often as they like to visit family and friends. However, they must take into account the validity period of the eTA when they return to continue their studies. In the rare case that the study permit is still valid but the eTA has already expired, the eTA will need to be renewed before you travel to Canada again.

When do I need a study permit?

Students who are going to Canada on an exchange program, or who want to follow a study programme that lasts longer than 6 months, will have to go through a few extra procedures besides the eTA. A study permit allows you to study in Canada at certain educational institutions that have been approved by the Canadian government to accept international students and that are on the Designated Language Institutions (DLI) list. The application for a study permit must be submitted via the government website, at a Visa Application Centre (VAC) or at a visa office. Before beginning the process, you must have an invitation letter from the educational institution you will be attending and you must prove that you have sufficient funds to finance your stay in Canada. Those who choose to study do not need to apply for an eTA separately, as this travel permit is issued automatically when the application for a study permit is approved. Those who wish to study and work at the same time in order to finance part of their stay can do so for a maximum of 20 hours per week on the campus of the educational institution in question.