Cyprus Minister calls for measures to protect euro from counterfeiting

Cyprus Minister of Justice and Public Order Kypros Chrysostomides said that the Euro, the common currency of the 15 countries comprising the Euroarea, should be protected from counterfeiting at all cost.
''We must protect it at all cost because it is the common weapon for the protection of the European economy and at the same time constitutes a limited form of political integration,'' Chrysostomides said addressing a three-day seminar entitled 6th Euro South East – Protecion of the Euro against counterfeiting, organised by the Cypriot Police, OLAF, the European Anti-fraud office and the German Police.
Chrysostomides said that the current global financial crisis comes as an example for the usefulness of the EU's common currency.
''Indeed the euro constitutes a common weapon mainly in times of crises and dangers to the savings of each and every one of us, of all the citizens of Europe,'' he added.
A spokesman of the German police noted that as the Euro is being adopted from more European member-states ''more criminal groups desire to share the success of our currency.''
''As a result we need to take action which requires cross-border cooperation,'' he said.
Michalis Papageorgiou, Deputy Chief of the Cyprus Police said that the counterfeiting of the euro, apart from the big economic losses, constitutes a serious form of crime.
''With regard the combating of this phenomenon, our experience has showed that cooperation between the competent authorities with not border obstacles and in combination and collaboration with Europol always yields positive results,'' he added.
The seminar will continue with exchange of views and experiences between the 93 participating delegates and will debate on ways to protect the Euro against counterfeiting.