Cyprus News Agency: News in English, 08-01-03
CONTENTS
[01] COMMISSION CYPRUS EURO
[02] ECB CYPRUS EURO
[01] COMMISSION CYPRUS EURO
The adoption of the euro in Cyprus and Malta on January 1st is
proceeding very smoothly and without any noteworthy incidents, said the
European Commission.
In a statement it also noted that so far only a few limited incidents
of undue price increases have been reported in both countries.
In its statement, the Commission said that all available evidence
suggests that the changeover operation is proceeding very smoothly and
without any noteworthy incidents.
On 2 January, a significant number of cash transactions were already
carried out in euro in both countries, and around 40% of citizens had
only or mostly euro cash in their wallets and purses.
[02] ECB CYPRUS EURO
The European Central Bank has welcomed the introduction of the euro by
Cyprus and Malta on January 1st, 2008.
``The euro has been introduced in Cyprus and Malta. The number of EU
Member States that use the single European currency has now increased
to 15. The European Central Bank (ECB) welcomes this further
enlargement of the euro area, an ECB press release says.
The ECB notes that as a result of the adoption of the euro by Cyprus
and Malta, the Central Bank of Cyprus and the Central Bank of Malta are
now full members of the Eurosystem, with the same rights and
obligations as the 13 national central banks of the other EU member
states that have adopted the euro.
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