Cyprus and Malta to adopt the euro
Tuesday, July 10, 2007
European finance ministers (collectively known as Ecofin) set fixed rates of one euro to 0.585274 Cypriot pounds and 0.4293 to the 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.
- "Cyprus and Malta to adopt euros" — , July 10, 2007
- AFP. "Cyprus, Malta get green light to adopt euro" — , July 10, 2007
- "Euro hits record high against dollar" — , July 10, 2007