THE euro is a big success — that is the view of a West Devon-based Conservative European MP.

The Earl of Stockton, a member of the European Parliament for the South West region, was in Brussels on New Year's Day and experienced first hand the currency change-over for 12 EU states.

He said: 'I think it has gone very well so far. There seem to be no particular problems. In a lot of the shops [in Brussels], if you pay in Belgian francs you can choose how to have your change, and everyone seemed to be taking it in Euros.'

He said one difficulty of which he had become aware was there had not been enough small change, particularly in Germany, Belgium and Holland, but shops and banks were working hard to overcome teething problems in the transitional phase from the old currencies to the new one.

The Earl, who lives at Stowford, said he was pleased to see that a number of British companies were happy to take the Euro and said he hoped the public would come to accept it too.

'I think it will seep into our consciousness within a year or two and we will view it as just another currency like the dollar or the yen.'

The Earl said as an international businessman, he had come to the conclusion that Britain should enter the Euro to secure the economic benefits of simplifying trade within the eurozone economies.

'My own view is we will go in. I think the decision will be put to the country in 2004 or more likely 2005, and then there would be a two-year transition before we actually go in,' he said.

The Earl said having used the currency himself he thought the new coins looked better than the notes but said the latter would prove 'frightfully difficult to forge' because of their complex design.

But his fellow Tory Euro, MP Giles Chichester, is maintaining opposition to the new currency, in line with the view of his party's leader, Iain Duncan Smith.

Mr Chichester, an MEP for the South West region, said the introduction of the Euro seemed to have gone well, but he remained opposed to Britain entering the single currency.

'It seems to have gone very well for the 12 member states so far,' he said. 'I expected the introduction of the Euro to have had more difficulties than it has and I congratulate the authorities for managing it well.

'I wish the Euro well, I just don't want to take part in it,' said Mr Chichester, giving the reason that Britain would lose control of its own economy if it were locked into a larger economic area.

One West Devon resident who travelled to France so that he could be there for the start of the new currency was Derek Palmer, from Lydford.

Mr Palmer, who stood as a pro-Euro Conservative candidate in the European elections in 1999, and his wife, travelled overnight from Plymouth to Roscoff, to be in France on January 1.

The day the Euro was introduced was a national holiday, with only newsagents and bakeries open, but Mr Palmer said everything went smoothly.

'Most of those small enterprises were able, as planned, to receive payments in Francs and give change in carefully-counted shiny Euro coins, with patient explanation of each coin to their customers. No chaos, no confusion, no worry,' he said.

On January 2, most shops were open as usual, and Mr Palmer said supermarkets at Roscoff and nearby Pol de Léon, were receiving and giving change in Euros.

Mr Palmer felt the benefits of a single currency in Europe would soon begin to dawn on the public.

'I think British people will be less sceptical about the Euro when they start going abroad and they can keep their Euros for their next holiday and not have to change them. People will then realise how advantageous it is.'

One man who was not celebrating the introduction of the euro was Dave Weeks, of Exbourne, chairman of the Torridge and West Devon branch of the UK Independence Party.

Mr Weeks said the single European currency took power away from individual states to control their own economies, and set taxation and pension levels. As well as continuing to campaign against British entry to the euro, Mr Weeks said he advocated ###Britain's withdrawal from the European Union.

'I can understand it is a lot easier if you are on holiday if you do not have to change currency, but that is the only plus as far as I'm concerned,' said Mr Weeks.