ECB Praises Cyprus Population

ECB praises Cyprus population

Article Date : 05 February 2008
News Section: Cyprus

The population of Cyprus has been praised by the European Central Bank (ECB) for coping well with the currency changeover.

People on the Mediterranean island were said to have responded positively to the transition from the cypriot pound to the euro since the new currency entered circulation.

The organisation stated that towards the end of January, people were conducting their affairs with a "business as usual" approach, despite both currencies being in circulation during this period.

Only the euro is now considered legal tender in Cyprus after the February 1st deadline, although the outgoing currency was still able to be used for the first month after the changeover.

The ECB added that authorities on the island have also coped well with the transition, as they had ensured it had gone "smoothly and effectively".

This comes after the Telegraph predicted that the currency changeover would boost Cyprus's appeal to foreign property buyers, due to factors such as favourable interest rates and rising house prices.

Like this? Then share with your friends and colleagues!

Article created on behalf of Propertyshowrooms.com News Desk (http://www.propertyshowrooms.com/news/)

ECB praises Cyprus population

Like this? Then share with your friends and colleagues!

Related Articles

Let Us find Property in Cyprus for You

Subscribe to This Feed

Property News in Cyprus

Property News Search

News Archives