NORTHERN Cyprus is preparing to drop the Turkish Lira in favour of the Euro, should a solution of the Cyprus problem be found.
Turkish NTV news channel reported that within the framework of the preparations for a possible solution, European Union experts will come to the island and start working with Turkish Cypriot officials.
Simultaneously to the efforts for adopting the Euro, the customs union process will also be carried out, NTV reported, adding that within this framework the harmonization of the breakaway regime’s customs’ laws.
Turkish Cypriot leader Mustafa Akinci has reportedly given the green light for the establishment of a technical committee which will be carrying out the economic harmonization work.
Akinci said that by bringing experts from the EU the aim is the completion of the Turkish Cypriots’ preparations for passing to Euro as soon as possible.
He noted that the preparations aimed at the solution and added that the procedure of the one year long period for Turkish Cypriots passing to the Euro will begin after the agreement is approved in the referendum and within that period the Turkish lira will be in force.
"This is a process. Passing to the Euro and the customs union will constitute the first stage. Afterwards harmonization with the EU in the health, environment and other issues will come to the agenda,” Akinci said.
Noting that during his contacts in Brussels and New York the issues of passing to the Euro and the customs union came onto the agenda, Akinci said that the EU officials have promised to intensify their efforts..
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