articles | 26 October 2015

ECB team to visit north Cyprus

A delegation from the European Central Bank will examine the issues regarding north Cyprus adopting the Euro currency in the event of a solution.

The delegation is due to arrive next month, according to Turkish Cypriot network BRT.

Armagan Candan, the official responsible for the discussions, said a team of experts will hold meetings with officials from the ‘Turkish Cypriot Central Bank’, the bi-communal technical committee on economy as well as the EU Ad-Hoc Committee, Candan said that the experts will look into how long it will take to switch to the euro.

“The team of experts will determine how long it will take the Turkish Cypriot constituent state to switch to the euro and for how long it will continue to use the Turkish Lira. This can be perceived as an important signal that a solution is close”, Candan added.

Candan also pointed out that both the EU and other international financial institutions which could make important contributions towards solving the Cyprus problem needed to see a success story in the Eastern Mediterranean.

“This story could be written in Cyprus” he added.

Source: Famagusta Gazette

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