On 1 January 2008, the Republic of Cyprus will adopt the EURO, including introducing it in physical form to the marketplace. As with any change, consumers and—in fact, anyone handling money—need to know what this conversion will mean to them and their daily lives.

In a presentation on December 4, co-organized by the Turkish Cypriot Chamber of Commerce and the USAID-funded program Economic Development and Growth for Enterprises (EDGE) program, banking experts Bryan Stirewalt and Tashtan Altuner discussed several aspects of the Cyprus Pound to EURO change-over. Their presentations included a review of key dates in the change-over process, advisory information for persons and businesses, a review of the characteristics of the EURO notes and coins, and a discussion of measures that can increase security and avoid fraud.

Consistent with EDGE’s overall activities, this event was designed to inform the Turkish Cypriot business population about important economic issues, in the context of a larger program to foster a durable economic foundation for the future reunification of Cyprus. Like all like all U.S. government programs in Cyprus, EDGE is aimed at facilitating reunification of the island, including through encouraging responsible economic growth.

More information on the EURO conversion process is available at http://www.euro.cy.