Mixed opinions of Cyprus euro entry

Tuesday January 15th , 2008

People in Cyprus have expressed mixed opinions over its recent currency changeover, a new poll has found.

An online poll by the Famagusta Gazette found that 17 per cent of respondents wanted to switch back to the pound, while a similar proportion said they "hate" the euro.

However, 37 per cent of people were positive about the new currency, saying that they "love it".

Meanwhile, nearly one in three people were hesitant to express their views, as they thought that it was still too early to judge the euro's performance.

Cyprus began using the single European currency on New Year's Day along with Malta, which means the euro is now used by a total of 15 countries.

One possible economic impact of the transition was recently highlighted by the SaveBorrowSpend website.

According to the online portal, Cyprus may be set to experience a property boom in the next few years, as some countries have previously seen a surge in demand for property after entering the euro.