"golden colour and they do not differ as shown on the table above. The 50 cent coin has a rounded heptagonal shape and has a bright silver colour. Coins of the Cypriot pound The coins of the Cypriot pound are part of the physical form of former Cypriot currency, the Cypriot pound. They have been issued since coming under British rule in 1878, until Cyprus' adoption of Euro in 2008. Before 1955, 1 pound was divided into 20 ""shillings"" (""σελίνι"" / ""σελίνια"", ""şilin""), and each shilling was divided into 9 ""piastres"" (""γρόσι"" / ""γρόσια"", ""kuruş""). The first coinage was issued"
"2008, the Eurozone with the euro as the national currency. The first elections after membership were held in March 2008 resulting in a narrow victory for the Nationalist Party with 49.34% of first preference votes. In May 2011, a nationwide referendum was held on the introduction of divorce. This was the first time in the history of parliament that a motion originating outside from the Cabinet had been approved by Parliament. In March 2013, the slim majority enjoyed by the Nationalists was overturned dramatically with the Labour Party returning to Government after fifteen years in Opposition. A record-breaking vote disparity"
"euro in April 2008. There was a further decline during the remainder of 2008, most dramatically on 29 December when its euro rate hit an all-time low at €1.0219, while its US dollar rate depreciated. The pound appreciated in early 2009, reaching a peak against the euro of €1.17 in mid-July. In the following months the pound remained broadly steady against the euro, with the pound's valued on 27 May 2011 at €1.15 and US$1.65. On 5 March 2009, the Bank of England announced that it would pump £75 billion of new capital into the British economy, through a process"
"in Madrid. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. While the euro dropped subsequently to US$0.83 within two years (26 October 2000), it has traded above the U.S. dollar since the end of 2002, peaking at US$1.60 on 18 July 2008. In late 2009, the"
"Revolution. Slovenia became the first formerly communist nation to adopt the EU currency, the euro, in 2007, followed by Malta and Cyprus in 2008, and Slovakia in 2009. In 2011, Estonia became the first republic from the former Soviet Union to adopt the euro, followed by Latvia in 2014, and Lithuania in 2015. Recently, Croatia became the 28th member of the European Union, which had entered on the 1st day of July 2013. In 2008, the Global Financial Crisis, triggered by the housing bubble in the United States, caused a significant decline in the GDP of the majority of the"
"1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Finnish markka. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia joined on 1 January 2014 and Lithuania joined on 1 January 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to"
"would be around 73 pence per euro. On 26 May 2003, the euro had reached 72.1 pence, a value not exceeded until 21 December 2007. During the final months of 2008, the pound declined in value dramatically against the euro. The euro rose above 80 pence and peaked at 97.855 pence on 29 December 2008. This compares with its value between March and October 2008, when the value of the euro was about 78 pence, and its value of about 70 pence between April 2003 and August 2007. With the impact of the global financial crisis of 2008 on the"
"was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Italian lira and the German mark. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia joined on 1 January 2014. and Lithuania joined on 1 January 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, going from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased"
"Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 and Lithuania joined on 1 January 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, going from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for"
"over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Belgian franc and the Greek drachma. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014, and Lithuania in 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two"
"Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the French franc and the Spanish peseta. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011 Latvia in 2014, and Lithuania joined in 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, going from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal"
"move because of the effects of the global financial crisis. Brown denied that there was any change in official policy. In February 2009, Monetary Policy Affairs Commissioner Joaquín Almunia said ""the chance that the British pound sterling will join: high."" The UK released new coin designs in 2008 following the Royal Mint's biggest redesign of the national currency since decimalisation in 1971. German news magazine ""Der Spiegel"" saw this as an indication that the country has no intention of switching to the euro within the foreseeable future. It is however an unwritten convention that the coin designs should be changed"
"the British economy. In December 2008, the results of a BBC poll of 1000 people suggested that 71% would vote no to the euro, 23% would vote yes, while 6% said they were unsure. The pound did not join the Second European Exchange Rate Mechanism (ERM II) after the euro was created. Denmark and the UK have opt-outs from entry to the euro. Theoretically, every other EU nation must eventually sign up. The Scottish Conservative Party claimed that there was an issue for Scotland in that the adoption of the euro would mean the end of nationally distinctive banknotes, as"
"Malta agreed to adopt the euro. The lira was replaced by the euro on 1 January 2008, as part of the Economic and Monetary Union of the European Union. The Maltese lira was replaced by the euro as the official currency of Malta at the irrevocable fixed exchange rate of 0.429300 MTL per 1 EUR. However, Maltese lira banknotes and coins continued to have legal tender status and were accepted for cash payments until 31 January 2008. Maltese liri were convertible free of charge at all Maltese credit institutions until 30 March 2008. Maltese coins were convertible at the Central"
"ISO 4217 code EUR) as a cash currency in 2002, and the Iraq War costs from 2003, the dollar began to depreciate steadily in value, as it did against other major currencies. From 2003 to 2005, this depreciation continued, reflecting a widening current account deficit. Although the current account deficit began to stabilize in 2006 and 2007, depreciation persisted. The fallout from the subprime mortgage crisis in 2008 prompted the Federal Reserve to lower interest rates in September 2007, and again in March 2008, sending the euro to a record high of $1.6038, reached in July 2008. In addition to"
"across the Irish border. This made some shops the most successful in their company for several weeks. Alex Salmond, the then First Minister of Scotland, called for more Scottish businesses to accept the euro to encourage tourism from the eurozone, noting that this is already done by organisations such as Historic Scotland. During 2009, the value of the euro against the pound fluctuated between 96.1 pence on 2 January and 84.255 pence on 22 June. In 2010, the value of the euro against the pound fluctuated between 91.140 pence on 10 March and 81.040 pence on 29 June. On 31"
"pound (GBP), euro (EUR), Swiss franc (CHF), and the U.S. dollar (USD) from June 2008 to September 2009. It indicates that a relatively strong forint weakened since the beginning of the financial crisis, and that its value has recently taken an upward turn. Compared to the euro the forint was at peak on 18 June 2008 when 1000 Ft was €4.36 and €1 was 229.11Ft. The forint was worth the least on 6 March 2009; this day 1000 Ft was €3.16 and €1 was 316Ft). Compared to USD, most expensive/cheapest dates are 22 June 2008 and 6 March 2009 with"
"physical notes and coins were introduced on 1 January 2002 replacing all national currencies. Between 2007 and 2015, seven new states acceded. The 2012 data above of eurozone states were published by World Bank in May 2014. Latvia and Lithuania were not in the eurozone in 2012. Five of the dependent territories of EU member states not part of the EU, have adopted the euro: The euro is also used in countries outside the EU. Four states – Andorra, Monaco, San Marino, and Vatican City — have signed formal agreements with the EU to use the euro and issue their"
"its lowest exchange rates in 2000 (3 May vs Pound sterling, 25 October vs the U.S. dollar, 26 October vs Japanese yen). Afterwards it regained and its exchange rate reached its historical highest point in 2008 (15 July vs U.S. dollar, 23 July vs Japanese yen, 29 December vs Pound sterling). With the advent of the global financial crisis the euro initially fell, to regain later. Despite pressure due to the European sovereign-debt crisis the euro remained stable. In November 2011 the euro's exchange rate index – measured against currencies of the bloc's major trading partners – was trading almost"
"and in 2002 notes and coins began to circulate. It rapidly took over from the former national currencies and slowly expanded around the rest of the EU. In 2009, the Lisbon Treaty formalised the Euro's political authority, the Euro Group, alongside the European Central Bank. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 and Lithuania in 2015. There are seven different denominations of the euro banknotes: €5, €10, €20, €50, €100, €200 and €500. Each has a distinctive colour and size. The designs for each of them have"
"Economic and Financial Affairs Council on 9 July, and the lats was replaced with the euro on 1 January 2014. The Euro switchover ceremony took place at a site where Latvia’s crisis began – the former headquarters of the collapsed Parex bank, now headquarters of state-owned Citatele bank, which emerged from Parex’s ruins. Some members of Latvia's parliament, the Saeima, originally pushed for a referendum on euro adoption, but Latvian Prime Minister Valdis Dombrovskis argued that a referendum is unnecessary because Latvians already voted in favour of their EU accession treaty in 2003, which binds them to adopt the euro"
"the euro as its official currency in 2007 or 2008. Later 1 January 2010 became the target date, but that date was abandoned because of an excessively high budget deficit, inflation, and public debt. For years, Hungary could not meet any of the Maastricht criteria. After the 2006 election, Prime Minister Ferenc Gyurcsány introduced austerity measures, causing protests in late 2006 and an economic slowdown in 2007 and 2008. However, in 2007, the deficit had been reduced to less than 5% (from 9.2%) and approached the 3% threshold in 2008. In 2008 analysts claimed that Hungary could join ERM II"
"would replace the US dollar with the euro as its official currency for the purposes of international trading. On 1 December 2002, North Korea did the same. (Its internal currency, the wŏn, is not convertible and thus cannot be used to purchase foreign goods. The euro also enjoys popularity domestically, especially among elites and resident foreigners.) Syria followed suit in 2006. In 2000, President of Iraq Saddam Hussein began the sale of his country's oil denominated in euros rather than US dollars since the majority of Iraqi oil trade was with the EU, India and China rather than the United"
"a firework display near the Grand Harbour area, several other activities had to be moved indoors because of the stormy weather that struck the island on that night. Slovakia adopted the euro on 1 January 2009. The koruna was part of ERM II from 28 November 2005, requiring that it trade within 15% of an agreed central rate; this rate was changed on 17 March 2007 and again on 28 May 2008. The rate of 30.126 SKK from May 2008 was finally confirmed on 8 July 2008. To assist the process of conversion to the euro, on 1 April 2008,"
"exact equivalence). The subdivision was changed to 100 ""cents"" (""σεντ"", ""sent"") to the pound on 3 October 1983. At that time, the smallest coin still in circulation was that of 5 mils. This was renamed as cent, but soon was abolished. Mil-denominated coins are no longer legal tender. Towards the end of the Cypriot pound era, some cashiers omitted the 1- and 2-cent coins from the change they gave. Owner-operated businesses often rounded down the net amount to be paid to the nearest multiple of 5 cents. The Cypriot national currency was replaced by the euro on 1 January 2008."
"in 2009, Estonia in 2011, Latvia in 2014, and Lithuania in 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender,"
"II on 28 June 2004; the Cypriot pound, the Latvian lats and the Maltese lira on 2 May 2005; the Slovak koruna on 28 November 2005. These states have all since joined the eurozone, and hence left ERM II: Slovenia (1 January 2007), Cyprus (1 January 2008), Malta (1 January 2008), Slovakia (1 January 2009), Estonia (1 January 2011), Latvia (1 January 2014), and Lithuania (1 January 2015). As of 2016, only the Danish krone participates in ERM II. The currencies of Sweden (the Swedish krona), the three largest countries which joined the European Union on 1 May 2004 (the"
"1 January 2001, one year before the physical euro coins and notes replaced the old national currencies in the eurozone. Subsequently, the following seven countries also joined the eurozone on 1 January in the mentioned year: Slovenia (2007), Cyprus (2008), Malta (2008), Slovakia (2009), Estonia (2011), Latvia (2014) and Lithuania (2015). Seven remaining states are on the enlargement agenda: Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania and Sweden. Denmark is not obliged to join, though should the country decide to do so it may join the eurozone with little difficulty as Denmark is already part of the ERM II. The"
"pegged to the French franc. Between 2010 and 2012, new agreements between the EU and Monaco, San Marino and the Vatican City came into force. A similar agreement was negotiated with Andorra and came into force on 1 April 2012. Andorra did not previously have an official currency. Prior to 2002, it used both the French franc and Spanish peseta as ""de facto"" legal tender currencies, though they never had an official monetary arrangement with either country, and switched to the euro (without any monetary agreement) when it was introduced on 1 January 2002. After years of negotiations, partially over"
"show prices in Irish pounds beneath the price in Euro for up to five years after the changeover, enabling people to see the price in old currency and check whether prices had been improperly inflated. Irish pound The Irish pound () was the currency of Ireland until 2002. Its ISO 4217 code was IEP, and the usual notation was the prefix £ (or IR£ where confusion might have arisen with the pound sterling or other pounds). The Irish pound was superseded by the euro on 1 January 1999. Euro currency did not begin circulation until the beginning of 2002. The"
"of the recession, closely followed by Slovakia in 2009. The three Baltic states of Estonia, Latvia and Lithuania joined in 2011, 2014 and 2015 respectively. Slovenia was the first country to join the eurozone after the launch of the coins and banknotes. Participation in ERM II began on 28 June 2004 and on 11 July 2006 the Council of EU adopted a decision allowing Slovenia to join the euro area as from 1 January 2007. The euro replaced the Slovenian tolar on 1 January 2007. The exchange rate between the euro and tolar had been set on 11 July 2006"
"euro currency union as the third stage of the European Economic and Monetary Union (EMU). Further, certain states outside the EU have adopted the euro as their currency, despite not belonging to the EMU. Thus, a total of 25 states, including 19 European Union states and six non-EU members, currently use the euro. The Eurozone came into existence with the official launch of the euro on 1 January 1999. Physical coins and banknotes were introduced on 1 January 2002. The original members were Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. Greece adopted the euro"
"installed the Euro as its currency on January 1, 2001. More European countries agreed to join the union in the following years; Slovenia (2007), Cyprus and Malta (2008), and Slovakia (2009). Countries are only allowed to begin utilizing the Euro when they have met certain requirements set about by the EMU. The criteria includes ""a low and stable inflation, exchange rate stability and sound public finances."" The reason for such criteria is because the best way to achieve a successful economy is by ensuring price stability. Economic history of Europe This article covers the Economic history of Europe from about"