Accretion also abounds as another mode of acquiring a territory under the traditional international law. Notably, accretion involves the effect of natural forces such as volcanism. For instance, in cases where natural activities such as volcanism takes place and volcanic islands emerge in a stateâs territorial waters, it would have the right to acquire territory.
1 Three modern Greek currencies, the first introduced in 1832 and the last replaced by the euro in 2001 (at the rate of 340.750 drachma to the euro).
The unit of currency in Northern Cyprus is the Turkish lira (Turkye Lira; TL). Exchange rates for the new Turkish lira are subject to fluctuations due to a high inflation rate. Since January 2008, the Republicâs unit of currency has been the euro (â¬), when one Cypriot pound (CYÂ£) was exchanged at a frozen rate of â¬1.68. Banks in Cyprus exchange all major currencies in cash (travellers cheques are becoming increasingly rare).