What will happen with rates – are they going to be high like in Europe? Since January, 1st, 2008 Cyprus completely will pass to euro. According to the Minister of Finance Mihalis Sarris, for today Cyprus answers two of four conditions, necessary for becoming a member of euro zone - the rate of inflation makes 2,1 % against set (2,4 %) and the long-term interest rate does not exceed normative (6,4 %). Thus, there are two more parameters - a shortage level of the budget and a public debt. Since 2007, according to the standard order, the European currency will be in circulation alongside with the Cyprian pound. Gradual transition of one cash currency to another will take from half a year to several months; it will be favorable to Cypriotes to not detain at itself pounds and to start to use new currency which enters in the country because of the developed travel industry. How these changes will reflect on simple people - will be visible very quickly. What will happen with prices on products and gasoline, whether the prices for cyprus villas rent will remain at the same level? What will happen with the prices for air tickets and room accommodation in the hotels? We’ll see!