Cyprus has joined the Euro (Updated)

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Facts of the Euro

Of the 27 member countries of the European Union - 12 joined upon the official launch of the Euro and Slovenia joined up on 1st January 2007.

Malta and Cyprus follow on 1st January 2008 making the total 15 with the rest of the countries joining eventually except for the United Kingdom (UK) and Denmark who have the right to decide to join at any time (if ever) they feel is right for their Country.

Each country joining the Euro must meet certain economic criteria before being allowed to adopt the Euro as the national currency.

Further information on regards to the Euro within Cyprus and the rest of the European Union can be found amongst these sites:

http://www.euro.cy (The official Cypriot Goverment's website on the change over)

http://ec.europa.eu/economy_finance/euro/our_currency.htm and

http://ec.europa.eu/euro/entery.html (The Official European Union Websites.)

Fact: Cypriots are adopting the Euro Currency faster than their Slovenian counterparts according to reports and in the first 5 days around 30% of Cypriot money had been returned to the banks.

Yiannakis
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