Homepage
Sitemap
Larger
Smaller
Login
Registration
Help
Terms of use
Sixth Report on practical preparations for the euro: countdown for Cyprus and Malta
28.11.2007, 11:41
Brussels, 27 November 2007
With only five weeks to go before the adoption of the euro by Cyprus and Malta, the Commission made a final assessment of the state of practical preparations for the currency changeover in both countries. The Commission concluded that both Member States are well prepared for the introduction of the euro, which is scheduled for the 1st January 2008.
Joaquín Almunia, European Commissioner for Economic and Monetary Affairs said that ‘’they must embrace this important step with confidence, but also with their eyes wide open to make sure that they are fully familiar with the new currency and to detect, and challenge, any abuse. Public authorities must also be careful and pursue policies that continue to deliver economic stability as a precondition for sustained growth and job creation."
On Tuesday, 27th November, the Commission adopted the sixth report on the practical preparations for the enlargement of the euro area, with the focuse on Cyprus and Malta. A staff working document attached to the report addresses the state of preparations in the other European Union countries that have yet to adopt the euro.
The general conclusion is that Malta has further refined and completed its practical preparations and seems well prepared for the euro. Also, the preparations for the introduction of the euro in Cyprus have progressed considerably and the country seems to be generally well prepared.
For more details on the practical preparations for the introduction of the euro in Cyprus and Malta as well as other EU countries see report and staff paper on:
http://ec.europa.eu/economy_finance/index_en.htm
For the Eurobarometer see:
http://ec.europa.eu/public_opinion/euro_en.htm
For the national changeover preparations see:
Cyprus:
http://www.euro.cy/euro/euro.nsf/dmlindex_en/dmlindex_en?opendocument