On April 16, 2003 President Tassos Papadopoulos signed the Treaty of Accession of Cyprus to the European Union. The signing of this historic Treaty, which took place during a special ceremony in Athens, represents the cornerstone of Cyprus' path towards accession to the European Union and forms a landmark in the modern history of Cyprus. It also constitutes the crowning achievement of the long effort by Cyprus to formally join the European family, to which it had always belonged geographically, historically, culturally, economically and politically. Cyprus ratified the Accession Treaty on July 14, 2003. On May 1, 2004, Cyprus became a full EU Member State, along with the other nine acceding countries – The Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia.
Joining the Euro - 2008
Following the country's accession to the EU, the government of the Republic of Cyprus undertook the obligation to join the Economic and Monetary Union and to adopt the euro as soon as the necessary requirements were fulfilled. From January 1st, 2008 Cyprus joined the euro zone and adopted the euro as its national currency.