EU chief congratulates Cyprus on smooth euro adoption
www.chinaview.cn 2008-01-19 10:30:44   Print

    NICOSIA, Jan. 18 (Xinhua) -- European Commission President Jose Manuel Barroso Friday congratulated Cyprus on its successful adoption of the euro, along with another Mediterranean island state Malta.

    "Cyprus said yes to Europe in 2004. By joining the euro it has now said yes, a very strong yes for the second time, a loud and clear yes," Barroso told reporters after meeting Cypriot President Taos Papadopoulos.

The European Central Bank Governor Jean-Claude Trichet speaks at the Central Bank of Cyprus in Nicosia, Jan. 18, 2008.Trichet congratulated Cyprus on its successful adoption of the euro. He stresses that the conversion of prices into euros should not be taken as an opportunity to make unjustified price rises. This is especially important when food and petrol prices are already exerting upward pressure on inflation in the euro zone as a whole.

The European Central Bank Governor Jean-Claude Trichet speaks at the Central Bank of Cyprus in Nicosia, Jan. 18, 2008.Trichet congratulated Cyprus on its successful adoption of the euro. He stresses that the conversion of prices into euros should not be taken as an opportunity to make unjustified price rises. This is especially important when food and petrol prices are already exerting upward pressure on inflation in the euro zone as a whole. (Xinhua Photo/Wang Qiang)
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    "It has also said yes to stability, yes to growth, yes to hassle-free trade and travel for its business and citizens," he said.

    Barosso is visiting Nicosia with the European Central Bank Governor Jean-Claude Trichet and other senior EU officials to celebrate the adoption of the euro by Cyprus.

    He also expressed the hope that other EU member states which are still outside the euro zone will follow the example of Cyprus, Malta and Slovenia.

    "Because in a globalized world, Europe is stronger together," said Barosso. "The more together the more we can do to enhance the lives of our citizens."

    The euro is a strong and solid currency with more than a fifth of the world's official currency reserves are in euros, he said.

    "It is a cushion against global economic shocks like the steep rise in oil prices or foreign monetary crises. This is an especially important advantage in a small, successful and open economy like Cyprus," the EU chief added.

    Cyprus, an EU member state since May 1, 2004, entered the euro zone with Malta as of Jan. 1, 2008, bringing the number of countries adopting the single currency to 15.

The European Central Bank Governor Jean-Claude Trichet(L) presents to the Central Bank of Cyprus Governor Athanasios Orphanides the 15th "Euro Star", a memento offered to each new member of the euro zone, in Nicosia, Cyprus, Jan. 18, 2008. Trichet congratulated Cyprus on its successful adoption of the euro. He stresses that the conversion of prices into euros should not be taken as an opportunity to make unjustified price rises. This is especially important when food and petrol prices are already exerting upward pressure on inflation in the euro zone as a whole.

The European Central Bank Governor Jean-Claude Trichet(L) presents to the Central Bank of Cyprus Governor Athanasios Orphanides the 15th "Euro Star", a memento offered to each new member of the euro zone, in Nicosia, Cyprus, Jan. 18, 2008. Trichet congratulated Cyprus on its successful adoption of the euro. He stresses that the conversion of prices into euros should not be taken as an opportunity to make unjustified price rises. This is especially important when food and petrol prices are already exerting upward pressure on inflation in the euro zone as a whole.(Xinhua Photo/Wang Qiang)
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Editor: Wang Hongjiang
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