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For a small open economy such as Cyprus, the euro adoption provides protection against international financial turmoil, which often has a disproportionate effect on smaller economies.

"The Successful Entry of Cyprus Into the Euro Area". Speech at the Conference “Welcoming Cyprus to the euro area” Nicosia, www.ecb.europa.eu. January 18, 2008.
For a small open economy such as Cyprus, the euro adoption provides protection against international financial turmoil, which often has a disproportionate effect on smaller economies.