100 Liras Cyprus in the EU

The Sovereign Military Order of Malta occupies a peculiar position in international law — a sovereign entity without territory, recognized by over 100 states, yet headquartered in a Roman palazzo under a perpetual lease from Italy. Its coinage has no circulation function whatsoever; the Order issues legal tender purely as a revenue mechanism and diplomatic curiosity. This 2004 piece marks Cyprus's accession to the European Union on May 1st of that year, an event that formally ended decades of international isolation following the Turkish invasion and partition of 1974.