The Euro will be officially adopted by Cyprus on 01 Jan 2008 and will replace the CYP pound on that date. As for the VAT issue I believe it wont be affected at all, should it ?

The official rate set in advance is - 1 CYP£ = 1.71EU

And that rate will never change, of course the £ sterling will rise and fall as always, at the moment the £ sterling is taking a bit of a dive, not good for our pensions here..

Re VAT:

Cyprus Mail March 16th 2007

Cyprus Mail 23rd October 2007

Mark

Thanks for your replies.
All adds up to more expense in the long run I suppose!

Not necessarily, of course prices rise everywhere and Cyprus is no different, but all prices are duel price here we can see what items should cost even after change over, they are making strict fines on those who cross this line..

This is very similar to our change to a decimal currency system.

Statistics actually show no discernible change in the rate of inflation at that time. But then it is measured on a range of products which does not mean that we did not see a rise in prices.

Bars/restaurants tend to work in round figures for drinks and foods.

A change that equates for example to say 0.47 or 0.97 will be rounded up - that will not reflect in the inflation figures but will do so in our pockets.

Much as it was claimed that prices would be rounded down at the time of our changeover in most cases popular lines tended to be upwards.

fwh

Let me see, 2 starters at an extra half Cent each, 2 main courses at an extra half Cent each, 2 puds at an extra half Cent each, 4 drinks at an extra half Cent each, 2 coffees at an extra half Cent each, multiplied by 14 for a 2 week stay.

AAAAAARRRRRGGGHHH WHERE AM I GOING TO FIND 84 CENTS FOR NEXT YEARS HOLIDAY?! I NEVER BUDGETED FOR THAT!! OH NO, FORGOT TO BUDGET FOR THE EXTRA FOR LUNCH TOO!! THATS JUST OVER A EURO!!

Mark keep off that home brew!!!

Home brew, Jim? I don't have the patience!

Tonight I are mostly drinking a bottle of Badger Original, followed by a brandy sour, ingredients courtesy of Aldi.

Went to the old pub last night, I had a huge rack of ribs and two Carlsbergs, nice, got back to a massive storm..all night bang wallop!! seen the new webcam shot Mark? another one comming early new year..been some good shots overnight, but the camera has no save function, shame..