Cyprus Negotiations
Euro to replace Lira in TRNC
The process of transition from the Turkish lira to the euro has begun in TRNC, Turkish Cypriot leader Mustafa Akinci told NTV television network on Monday.
Akinci and [Greek Cypriot] President Anastasiades agreed on the establishment of a committee for economic harmonisation, during their meeting on Monday, with EU experts expected to assist the process.
The aim is to do away with green line regulation, the soonest.
Akinci said that the transition to the euro, customs union and other harmonization work cannot be left for after a positive vote in a referendum on the Cyprus settlement.
“This is an on-going process beginning with the euro and the customs union. Harmonisation on health, environment and other areas will follow,” he said.
Technical details for the transition from the Turkish lira to the euro will be discussed with Turkey, Akinci added.
Source: in-cyprus
Not so sure that is a good idea, with the Euro’s not so good history
Hope not the UK will go to referendum to get out of the EU the euro is a disaster . Not a good idea for the TRNC.
I see it as another bullying tactic that politicians all over use to get what they want and not including their people who they are meant to represent. Look at UK and its relationship with EU. Thank god we never changes. I hope the people of TRNC will wake up and say NO
This is economically wrong, but it’s a simple move forward to bring the two sides closer together, unless of course we go back to the old Cypriot currency, why this has not been discussed is a surprise, or maybe it has but I can’t see any other option.
Sure, the southern Cypriots would see it as more as a move away from Turkey rather then a move closer to their fellow islanders in the North, but can’t see any other option regarding currency.
I simply ask myself the question at what exchange rate the transition will take place, at the current rate it would be a catastrophy for many people in TRNC. And a second thougt from my experiences in Germany: nearly everything became more expensive with the euro nearly overnight, the only thing that didn´t increase whas the salaries and the income of the people.
Your spot on there everything will increase except of course the salaries
All of this as far as I know is on the precondition that a settlement is reached before implementation, so what happens if the referendum ends up a repeat of 2004. ?.
Will be a bad move for all those with savings in Lira held in northern banks 😞
People holiday in TRNC because the country is so laid back, the people are lovely, the country is lovely and good value for money. My Wife and I visited southern Cyprus on a regular basis for many Years until it became commercialized and the final straw was the dreaded EURO, disaster for the south. They say progress means change, this is true, however if the TRNC goes down this path it will be game over for tourism.
Your absolutely right Martin it would be a disaster for Northern Cyprus – no one wants it so why even consider it. Hope to goodness common sense prevails but we all know that the politicians don’t seem to have much of it, educated idiots a lot of them … But we are far from a settlement anyway.