As the success of the currency changeover depends, to a great extent, on the existence of a comprehensive, well planned and effectively executed information campaign, Cyprus has established the Joint Communication Committee which consists of officials from the Ministry of Finance, the Central Bank of Cyprus, the Press and Information Office and the Representation of the European Commission in Cyprus. with a mandate to plan and oversee the implementation of this project.

The Central Bank of Cyprus (CBC) has an important role to play within the above national set up and aims at delivering it through active and diverse participation and contribution.

Within its ambit of responsibilities, particularly as a member of the ESCB, the CBC shall handle all information campaign issues relating to the introduction of euro banknotes and coins and the withdrawal of the Cyprus pound. The CBC’s euro information campaign forms an integral part of the national information campaign as set out in the paper “A Comprehensive Strategic Communication Plan for the adoption of the euro in Cyprus” prepared jointly by the Ministry of Finance and the Central Bank of Cyprus.

This paper lays down the action plan for the implementation of the euro information activities planned to be carried out by the CBC.  The paper has been prepared in conformity with the general framework brought forth by the Task Force on Euro Information Campaign (TF-IC) for the countries with derogation, which operates under the auspices of the ECB. In connection to this, the overall structure of the CBC campaign draws on the €-campaigns framework elaborated by the above Task Force, whereby a semi-centralised approach will be co-ordinated by the European Central Bank (ECB) in close co-operation with the TF-IC. This unavoidably involves financial implications and interdependencies on both, the ECB and the CBC. Once the CBC information campaign is refined in collaboration with the ECB, a Memorandum of Understanding (MoU) will be signed by the ECB and the Central Bank of Cyprus, which will cover, inter alia, the production of creative materials that will be developed and produced centrally by the ECB and whose distribution will be done by the CBC.

The body responsible for the CBC euro information campaign is the Bank’s “Communication Committee for the adoption of the euro” established by the Governor of the Central Bank on 18 January 2005.