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Cyprus signs euro campaign agreement with EU Commission
2006-05-02 15:31:44

Nicosia, May 2 - Cyprus Minister of Finance Michalis Sarris tomorrow signs an agreement financing the Cypriot national programme for the euro.

Mr. Sarris said the agreement, to be signed on the sidelines of the EU Finance Ministers' Council (ECOFIN), provides for the funding of a ''large part'' of the Cypriot campaign for the euro.

It will be implemented shortly after the signing of agreement until January 1, 2008, when Cyprus is scheduled to join the Economic and Monetary Union (EMU).

''The sound and timely information of the citizens on the Euro is one of our basic targets for the smooth transition to the euro,'' Mr. Sarris also said.

Asked whether the Cyprus President or he himself are thinking to postpone Cyprus' entry to the Eurozone in view of information for a new UN-led initiative for the solution of the Cyprus problem, Mr. Sarris said:

"The President, as everyone, has a particular interest in preparing for a Cyprus reunification,'' adding that ''we look at economic issues with great attention.''

''We believe that joining the euro will be a positive step which would remove controversial issues from the negotiating table, such as the new states' currency, the common Central Bank and the fiscal frameworks,'' he added, noting that ''the fact that we proceed with our entry to the euro with no delay is a rather positive step.''

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