Cyprus CB official defends negative view on the euro

The Brussels Representative Office of the Central Bank of Austria and the Directorate General for Economic and Financial Affairs (DG Ecfin) of the European Commission organised a round–table discussion on “5 Years of Euro – Cash: Myths versus Facts” that included speakers from the central banks of Malta and Cyprus.

Michael Bonello, Governor, of the Central Bank of Malta, and Spyros Stavrinakis, Senior Manager, Economic Research and Statistics Division, at the Central Bank of Cyprus were invited to participate in the round-table following the European Commission’s proposal that Malta and Cyprus join the euro area on 1st January 2008.

Stavrinakis’ presentation was on the “Changeover to the euro in the light of a still negative public opinion.”

Governor Bonnello’s speech looked at “Malta’s economy on the path to the euro”, and Servaas Deroose, Director, European Commission, DG Ecfin, spoke on the “Euro cash-experiences during the first five years and future prospects.”