Video: Hilariously embarrassing video of CNBC co-anchor bemused by Ireland's use of the euro For the head of Ireland's foreign development agency, an appearance on a popular US morning business show must have seen like an excellent chance to tout the country's economic prospects. Instead, Martin Shanahan found himself part of a bemusing exchange with a co-anchor would really could not get his round the fact that Ireland uses the euro when Scotland, which he recently visited, uses the pound. A fellow presenter on the Squawk Box show on CNBC had just asked how a weaker euro was affecting tourism when Joe Kernen jumped in twice with his own question: "You have pounds anyway, don't you, still?" Mr Shanahan, chief executive of IDA Ireland, assured him that Ireland does in fact use the euro. And that is where the exchange turns to farce, with Kernen unable to grasp that the Irish currency is not the pound, especially as had just used sterling during a trip to Scotland. Mr Shanahan then endures a long and painful exchange - part inquisition, part rant - with Kernen, CNBC's former on-air expert on Wall Street stocks, who clearly seems to be unaware that Ireland is not actually part of the United Kingdom.