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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Cyprus quick to make euro changeover ]

Cyprus quick to make euro changeover

January 29, 2008 NICOSIA, Cyprus—Four weeks after Cyprus adopted the euro, the new currency has almost completely ousted the Cypriot pound in everyday transactions, officials said Tuesday.

Cyprus adopted the euro Jan. 1 together with Malta, bringing to 15 the number of countries using the currency.

"It was remarkable how fast we made the changeover and how fast Cypriots got used to the currency," Central Bank governor Athanasios Orphanides said.

Finance Ministry officials estimate the euro is now being used in 90-95 percent of everyday commercial transactions. The pound will remain legal tender until Thursday.

"We had a load of plans to counter problems and I can tell you with a great deal of pleasure that there was no need to implement them (or) pull them out of our office drawers," Orphanides said.

The Central Bank governor also said a global economic slowdown spurred by concerns of a recession in the United States may result in slightly slower growth among euro zone countries that should not rattle nerves.

"We await a slowdown within the euro-zone relative to what we had expected before, but I would like to point out that projections for the euro zone have been very good and this slowdown shouldn't really worry us," Orphanides said.

Only the southern, Greek-speaking part of ethnically divided Cyprus is formally using the euro. The government in the north is recognized only by Turkey, but many Turkish Cypriot merchants have also been accepting euros along with Turkish lira.





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