COMPENSATION from the EU for the green pound revaluation should be in excess of £50 million in 1997, according to IFA economist Mr Con Lucey. The revaluation is due to occur tomorrow and is expected to cost farmers £100 million.

IFA president Mr John Donnelly has called on the Government to match EU compensation payments pound for pound, as it was "directly responsible for the overvalued pound which caused the problem in the first place".

The best method of paying the compensation, according to the IFA, is a top up of beef premium, a direct payment to dairy farmers based milk supplied, increased area aid payments to grain growers and direct payments to beet growers based on beet delivered to Irish Sugar.