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Cyprus News Agency: News in English, 08-06-05

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [02] CYPRUS - EURO


    The UK supports a solution of the Cyprus problem based on a bizonal, bicommunal federation with political equality, British Prime Minister Gordon Brown has said, adding that his country is ready to support the process which has begun recently with a view to reunite Cyprus.

    Brown, who met at 10 Downing Street with Cypriot President Demetris Christofias, said that in July, Minister for Europe at the Foreign and Commonwealth Jim Murphy will be visiting Cyprus.

    In his statements, Christofias described the day as very important for the relations between Cyprus and the UK and referred to the Memorandum of Understanding signed between the Republic of Cyprus and the UK.

    According to the Memorandum, both countries commit themselves to working together to reunify the island. The aim is a comprehensive and durable settlement based on a bizonal, bicommunal federation and political equality, as defined by the relevant UN resolutions and the principles upon which the EU is founded.

    This settlement must be based on a single sovereignty, international personality and a single citizenship.

    Both countries support the ongoing process under the good offices of the UNSG, including the move to full negotiations on a date agreed by the two leaders.

    The Memorandum notes that the UK and the Republic of Cyprus will work together with the UN and with relevant support from the EU to ensure the successful conclusion to the ongoing process and the achievement of an agreed, negotiated solution, between the two communities as soon as possible.

    [02] CYPRUS - EURO

    The Ministry of Finance informs that the period of the dual display of prices (Cyprus pound and the equivalent in euro) for goods and services will be terminated on September 30, 2008.

    The dual display of prices was provided for by the Adoption of the euro Laws of 2007, with a view to facilitate the smoothest possible introduction of the euro in Cyprus. Cyprus adopted the euro as its legal tender on January 1 2008. The dual display of prices was introduced in September 2007.

    The Finance Ministry notes that all suppliers of goods and services are requested to abide this legal obligation until the above mentioned date, recalling that ``any person infringing any of the provisions of the Adoption of the Euro Laws is subject to an administrative fine up to 170,000 euro.``

    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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