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Commemorative coin of the Republic of Cyprus, issued in 2009 in a circulation of 1,000,000 copies. Joint issue of 16 eurozone countries in honor of the 10th anniversary of EMU. Author of the joint design is George Stamatopoulos (Bank of Greece). Minted in Suomen Ragapa Oy (Finland). Bimetallic, diameter 25.75 mm, weight 8.5 g.
Overse
In the center of the coin is depicted a stylized human figure, similar to the ancient Greek hero Atlas, who extends his hand to the large euro symbol "€". This man-Atlantean "holds" the euro - a symbol of the birth of the common European currency from the work and faith of citizens. On the right is the name of the issuing country in two languages: "ΚΥΠΡΟΣ - KIBRIS" (Cyprus in Greek and Turkish). At the top is the inscription "УЕМ 1999-2009" (Economic and Monetary Union, 1999-2009). Around the figure are the names of the 16 eurozone countries in lowercase letters. On the outer ring are the 12 stars of the EU.
Reverse
The reverse is the common side of the 2 euro coins of the second type, designed by Luc Luix (Royal Belgian Mint). It depicts a map of Europe as a single continent without internal borders - a symbol of European unity. On the left is a large denomination "2" and the inscription "EURO", on the right is a map with six thin horizontal lines in the background. On the outer ring are the 12 stars of the European Union. The band is finely fluted and the inscription "2 ★", repeated six times alternately upright and inverted.
Historical context
The Economic and Monetary Union (EMU) of the European Union is a key stage of European integration, completed on 1 January 1999 with the introduction of the common currency, the euro (€). Formally, the EMU was formed in three stages, starting on 1 July 1990: Stage I - liberalization of capital movements; Stage II (from 1 January 1994) - creation of the European Monetary Institute; Stage III (from 1 January 1999) - introduction of the euro. The euro was initially introduced as a non-cash currency for the 11 founding countries, and banknotes and coins - on 1 January 2002. Cyprus joined the euro area on 1 January 2008, thus celebrating its first anniversary of the euro area in 2009, along with the other 16 countries. Cyprus replaced the Cypriot pound with the euro at a rate of €1 = £0.585274. The Central Bank of Cyprus (CBC) is the national member of the Eurosystem. The EMU is managed by the European Central Bank in Frankfurt.