I thought I would follow Iain Murray down Memory Lane and, more precisely, to January 1, 2008, the day that Cyprus adopted the euro.
So here’s EU Commission President José-Manuel Barroso, the former Maoist—and current authoritarian—who is still the EU’s top bureaucrat:
“This is an exciting moment for Cyprus and for Europe. Cyprus has adopted a strong and stable currency which is helping Europe to withstand global financial instability and high energy and commodity prices. The euro, accompanied by the right economic policies, helps create growth and jobs and keep inflation within limits. Cyprus is today more than ever a proud and independent island. It has cemented its place at the heart of the EU, increased its economic potential and influence and made it easier for its businesses to trade and its people to travel”…
The EU’s press service noted that:
All available data indicate that the changeover from the Cyprus pound went well and as planned. Citizens are able to withdraw euro cash from ATMs all over Cyprus and to use it for daily payments.
That was then.