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Image header Agence Europe
Europe Daily Bulletin No. 9585
GENERAL NEWS / (eu) eu/euro

Cypriot Finance Minister pleased with move to euro

Brussels, 22/01/2008 (Agence Europe) - Three weeks after Cyprus and Malta adopted the single currency, Cypriot Finance Minister Michalis Sarris gave a very positive view of the move to the euro. Believing that good preparation and the use of double pricing had paid off, he noted a few problems, with prices being rounded up too far in car parks, hairdressers and kebab restaurants. As he had said before the move, he did not see that the move to the euro in itself would cause any inflationary pressure (see EUROPE 9557). While “inflation will be higher in 2008,” that will be the case everywhere, largely because of oil prices, Sarris told a group of journalists on Tuesday 22 January. He said it would be difficult to separate the impact of the introduction of the euro from the other phenomena influencing prices, so that people could always blame the single currency. At the end of the month, the Commission is due to present an investigation on the extent of the perception of change among the population and estimates of the impact of the euro on prices, Joaquin Almunia announced. (A.B.)

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