NEARLY half of Cypriots were carrying euro notes on January 2, and over a quarter said they had used only the new currency to conduct transactions, an EU survey published yesterday said.
Asked about which currency they had in their wallets and purses on January 2, around 12 per cent of respondents in Cyprus had only euro banknotes, while an additional 31 per cent were carrying ‘mostly’ euro banknotes, according to the Commission survey.
The respective figures for coins were 20 per cent and 26 per cent.
As regards cash payments on January 2, around 28 per cent of Cypriots said they had paid in euro, while 68 per cent still used the old national currency.
The Commission said the results compared favourably with those of a similar survey conducted when Slovenia adopted the euro in 2007, when only one in five Slovene citizens paid in euros on the first working day.
Despite reports of shortages of change, some 92 per cent of Cypriot retailers gave change exclusively in euro on January 2.
The survey found many similarities between the changeover in Cyprus and in Malta, which adopted the euro on the same day.
“Some queues at banks and ATMs were reported in both Cyprus and Malta,” said the survey.
“Overall, the changeover process appears to have gone according to plan in both countries.”
Since January 1, euro banknotes have been available from ATMs.
All 550 ATMs in Cyprus and all 154 in Malta were successfully converted to dispense euro banknotes during the first day of the new year, the large majority by noon.
In Cyprus, some 50,000 cash withdrawals at ATMs took place on January 1 and 2, for a total amount of €5.97 million while €116 million was withdrawn over the counter.
Cypriots also bought a total of around 105,000 euro coin mini-kits worth €17.09 each.
Figures published yesterday said that over £140 million, or 20 per cent of Cyprus pounds circulating, had already been withdrawn, leading officials to believe that by the middle of the month, 80 per cent of all transactions would be carried out exclusively in euros.
As regards particular problems, the survey noted a shortage of change among retailers in both Cyprus and Malta, as fell as the issue of parking fees in both countries.
Charges in many private car parks have jumped from £1 (€1.71) to €2 in Cyprus, an increase of 17 per cent overnight. The Commission said that the Maltese authorities had asked those responsible to revert to the former prices within one week, failing which fines would be imposed.
“Consumers are encouraged to be even more vigilant and assertive during this period than usual,” the Commission said.
