A ‘momentous’ time for cyprus

Cyprus' entry into the Eurozone will trigger a property boom across the country, according European Commission President Jose Manuel Barroso...

On this topic, Mr Barroso commented: “The Island had taken a momentous step and taken its place at the very heart of the EU.
Cyprus will be able to reap a number of economic benefits as a result of fiscal integration, such as low inflation and interest rates. Other members of the Eurozone may find it a more attractive trading partner due to the removal of transaction costs and exchange rate risks.

Mr Barroso concluded "Cyprus has joined a world class currency and a powerful economic area of nearly 320 million citizens, with an almost 15 per cent share of world GDP. The island will be able to exert greater influence over the direction of EU economic policy".