Cyprus and Malta to adopt the euro
{{date|July 10, 2007}}
[[Image:Euro accession.png|thumb|right|200px|The eurozone will grow from 13 to 15 members.]]
The [[European Union]]'s {{w|Council of the European Union|Council of Ministers}} has approved the entry of Mediterranean islands [[Cyprus]] and [[Malta]] into the {{w|Eurozone}}. They will begin to use the {{w|euro}} from January 1, 2008.

European finance ministers (collectively known as Ecofin) set fixed rates of one euro to 0.585274 {{w|Cypriot pounds}} and 0.4293 to the {{w|Maltese lira}}. [[Slovenia]] was the first new country to join, which adopted it in January of 2007. No other country has yet met the strict entry criteria into the Eurozone, including inflation, which prevented the entry of states such as [[Estonia]], [[Latvia]] and [[Lithuania]].

The news comes amid a rising value of the euro, on the same day it reached a new all-time high of 1.37 [[U.S.]] dollars.
{{haveyoursay}}
== Sources==
*{{source|url=http://news.bbc.co.uk/1/hi/business/6288084.stm
|title=Cyprus and Malta to adopt euros
|author=
|pub=BBC News Online
|date= July 10, 2007}}
*{{source|url=http://abc.net.au/news/stories/2007/07/11/1975287.htm?section=justin
|title=Cyprus, Malta get green light to adopt euro
|author=AFP
|pub=ABC News
|date= July 10, 2007}}
*{{source|url=http://www.rte.ie/news/2007/0710/euro.html?rss
|title=Euro hits record high against dollar
|author=
|pub=RTÉ News
|date= July 10, 2007}}

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[[Category:European Union]]
[[Category:Economy and business]]
[[Category:Cyprus]]
[[Category:Malta]]
[[Category:Asia]]
[[Category:Mediterranean Sea]]
[[Category:Euro]]
[[Category:Council of the European Union]]
[[Category:Currency]]

[[fr:Chypre et Malte acceptés dans la zone euro]]
[[it:L'euro conquista Cipro e Malta]]
The eurozone will grow from 13 to 15 members.
The European Union's Council of Ministers has approved the entry of Mediterranean islands Cyprus and Malta into the euro from January 1, 2008.

European finance ministers (collectively known as Ecofin) set fixed rates of one euro to 0.585274 Maltese lira. Slovenia was the first new country to join, which adopted it in January of 2007. No other country has yet met the strict entry criteria into the Eurozone, including inflation, which prevented the entry of states such as Estonia, Latvia and Lithuania.

The news comes amid a rising value of the euro, on the same day it reached a new all-time high of 1.37 U.S. dollars.
European Union Economy and business Cyprus Malta Asia Mediterranean Sea Euro Council of the European Union Currency