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The eurozone is to enlarge further - two mini-states Malta and Cyprus are joining (Photo: EUobserver)

Malta and Cyprus to get green light for 2008 switch to euro

Two Mediterranean islands - Malta and Cyprus - are expected to get a green light for joining the 13-strong eurozone next January, with both the European Commission and European Central Bank likely to give a positive evaluation this Wednesday (16 May).

"Malta has sufficiently converged towards EU levels according to the criteria set in the EU treaty to adopt the euro on January 1, 2008," writes a draft commission report seen by the Times of Malta, suggesting the same applies for Cyprus.<...

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The eurozone is to enlarge further - two mini-states Malta and Cyprus are joining (Photo: EUobserver)

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