Cyprus Negotiations

Euro to replace Lira in TRNC

EuroThe 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.

LiraAkinci 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