Cyprus has applied to join the eurozone on 1 January 2008, as part of a trend that is seeing the EU's smallest new members rush to get into the single currency while bigger economies such as Poland and Romania pull further away from the euro-horizon.
Nicosia's formal letter of application arrived on the European Commission's desk on Tuesday (13 February), starting a process that should see EU states give the green light at the EU summit in June and the Cypriot pound replaced by euro no...
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Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.