Cyprus National Advisory Committee of euro formed

At a meeting of the National Advisory Committee and the Political Committee took place on July 13, 2007 at the Ministry of Finance, regarding the accession of Cyprus in to the eurozone.

The National Advisory Committee is chaired by the Minister of Finance. In the Committee, the Governor of the Central Bank of Cyprus, the Minister of Commerce, Industry and Tourism and other social bodies like: House of Representatives Finance Committee, Attorney Generals Office, Commercial Banks’ Association, Accountants’, Lawyers’ and Consumers’ Associations, Department of Cooperative Development, Cyprus chamber of Commerce, Employers and Industrialists Federation, Labour Organizations, Farmers Organizations, Local Authorities, Semi-government Organizations, also participate.

In the Political Committee, the heads or representatives of political parties are participating. 

During the meeting the National Plan for the conversion from the pound to the euro, the progress that has been achieved and the priorities ahead were discussed. Taking into consideration up to today experiences, a revised National Plan was prepared which was adopted by the Minister of Finance and the Governor of Central Bank of Cyprus in June 2007. The revised Plan gives focus on the confrontation of concerns for unjustifiable increases of prices. It gives also focus on providing information to small enterprises as well as to the vulnerable groups of population.