Because the independence of Cyprus, treaties
dictate that British territories in Cyprus could have the same currency
as the Republic of Cyprus. Following the British vote to
withdraw from the EU in June 2016, Ioannis Kasoulidis, Foreign Minister of
Cyprus, introduced that Cyprus wished to have
EU citizen privileges remain for these areas if the UK ceases to be a member.
The Sovereign Base Areas of Akrotiri and Dhekelia
on the island of Cyprus introduced the euro at the identical time
as the Republic of Cyprus, on 1 January 2008. Previously, they used the Cypriot Pound.
Despite by no means being a member of the eurozone, the euro is used in Akrotiri and Dhekelia and is extensively
accepted in Gibraltar and Northern Eire. At the moment, some shops in Northern Ireland accepted the euro at parity, causing a big influx of consumers from throughout the Irish border.
This report stated that many analysts believed that parity with the
euro was solely a matter of time.
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