British Overseas Territories is the only overseas territory that is part of the European Union (EU), although it is not part of the European Customs Union, the European Tax Policy, the European Statistics Zone or the Common Agriculture Policy. Gibraltar is not a member of the European Union in its own right. The Sovereign Base Areas in Cyprus are not part of the European Union, but they are the only British overseas territory to use the euro as official currency. None of the other Overseas Territories are members of the EU, the main body of EU law does not apply and, although certain
British National (Overseas) the transfer of sovereignty of Hong Kong. In light of the United Kingdom Memorandum to the Joint Declaration, 31 December 1997 was the last day for any eligible person to register for the British National (Overseas). After a brief period of optimism after Deng Xiaoping's promise of retaining Hong Kong's British Common Law system, safeguarding the independence of judicial proceedings from government intervention and preserving the capitalist market economy, initial response to the registration for BN(O) was unenthusiastic. On 4 June 1989, the massacre of unarmed university students at the Tiananmen Square protest in Beijing, however, eliminated the credibility of