Cyprus joined the pound to join the euro at midnight, in a New Year celebration that marks the expansion of the currency area of \u200b\u200bthe Mediterranean island. Advertising
hour later Malta also joined the euro, bringing to 15 the eurozone. Both islands have entered the EU in 2004.
E 'was the first change of currency in Cyprus from the former colonial power Britain, the pound was introduced in 1878.
According to the government in Nicosia, the transition will be smooth and could help bring the two economies on the island, divided along ethnic lines after the Turkish invasion of 1974.
use the euro will only cover the southern part of Cyprus controlled by the greek Cypriot government is recognized internationally. The North, which is in turkish Cypriot state, recognized only by Ankara, will continue to use the Turkish lira.
CIRP joined the single currency with the euro exchange 0.585274 pounds.
The authorities hope that the old notes in Cyprus are completely withdrawn from circulation within 15 days.
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