Euro compliance staff could find themselves out in the cold

IT staff working on their Euro systems over the New Year could find themselves hungry and exhausted, if companies do not start planning soon.
Up to 80 per cent of employees in the financial sector are expected to spend their holiday in the office preparing for the Euro - which becomes a recognised currency on 1 January. But vital amenities such as public transport, food and car parking will be unavailable, according to research published yesterday by TCA Consulting.
In the City of London, most tube stations will be closed, NCP will shut its car parks and cafes will have closed doors. TCA advises companies to start planning alternative means of transport now, or else book up the last remaining hotel rooms.
Some companies have addressed the problem by hiring a coach service, or making arrangements with private car parks. But TCA found that many companies have made no provisions to date.
John Turner, TCA's head of EMU Practice, said: "Most financial institutions have booked external contract staff for the public holiday. In the IT sector, staff have to get their year-end processing done more quickly than usual, as well as setting up their Euro systems for 1 January and providing 24 hour telephone support."
Turner said many companies have not yet planned precisely who will be needed over the three day weekend. "If we knew that, we would have been able to liase with London Transport," he said.
According to the consultancy, Germany is in a worse situation, as trade unions are arguing for compensation for the lost holiday, turning the New Year issue into one about workers' rights. However, Turner said that in France, it is seen as a matter of national pride to come into work to support the Euro.