Adopting the Euro could benefit the TRNC

Adopting the Euro could benefit both the Turkish Cypriots and the whole of Cyprus, Greek Cypriot MEP Kostas Mavrides has said.

Speaking to Kanal SIM, Mavrides said and confirmed that he fully supported the Turkish Cypriots using the Euro as currency.

Mavrides noted that even though the EU acquis is suspended in north Cyprus and it cannot officially enter the Eurozone, it is still possible to adopt the Euro unofficially.

The Turkish Cypriot economy could be stabilised by abandoning the Turkish Lira and using the Euro as currency.

He added, “By transitioning to the Euro, Turkish Cypriots will get closer to the European Union to which they belong”. Mavrides said he believed that this would gradually contribute to a permanent solution in Cyprus and the integration of the island into the EU as a whole.

Mavrides also observed that the Turkish Cypriots were not very keen on this idea a few years ago, and attributed this to the ‘relative stability of the Turkish lira at that time’, as well as ‘expectations for a comprehensive solution to the Cyprus problem’. 

Yeniduzen, LGC News