2007-10-07 10:58:55 · 4 answers · asked by Kanuni the Magnificant 2 in Travel ➔ Europe (Continental) ➔ Greece
Traditionally the £CY has tracked Sterling. If Cyprus adopts the Euro that link will be broken. Both the £CY and Sterling has been strong currencies in recent times, so, by breaking the link I expect local costs to go up. It will get worse over time as Cyprus finds more and more legislation making life difficult for them.
An interesting question arises when you ask what happens in the Turkish occupied part of the island. No country, other than Turkey, recognises the northern part as a country the north is part of the EC. (Turkey, of course will not agree), so it should adopt the Euro.
I await the outcome with interest.
Ian M
2007-10-07 12:12:48 · answer #1 · answered by Ian M 6 · 3⤊ 1⤋
I expect prices to go up gradually. As they 'round up' prices, everything will be a few cents more expensive. Also Cyprus gov. will have to give up more sovereignty in financial matters.
As a Turkish Cypriot, I (we) are familiar with Euro and will have no problems dealing with it. Already car prices and computers and parts are sold with euro price tags in the north. We will have more euros in cash circulating through our market after Jan.1. At the moment we get lots of cyprus pounds through business with the south. Greek Cypriots will have to learn to live with euros from now on.
2007-10-08 11:27:23 · answer #2 · answered by anlarm 5 · 1⤊ 3⤋
I sincerely wish that Cyprus remains with the pound.
I Cr 13;8a
2007-10-07 18:54:24 · answer #3 · answered by ? 7 · 1⤊ 1⤋
Nothing...It's just a new currency..:p
2007-10-08 07:56:08 · answer #4 · answered by Anonymous · 0⤊ 2⤋