IHT: Lining up for euros in Cyprus and Malta - by Nelaos Hadjicostis
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Lining up for euros in Cyprus and Malta - by Nelaos Hadjicostis
The adoption of the euro Tuesday by Cyprus and Malta went smoothly, as citizens lined up at banks to exchange pounds and lira for the new currency without many problems. The small Mediterranean islands, both former British colonies, scrapped the Cyprus pound and Maltese lira at midnight, bringing to 15 the number of countries using the currency that has increasing clout over the slumping U.S. dollar. Cypriot banks opened central branches in Nicosia and other major cities for a few hours Tuesday to exchange the old currency for euros.
