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EC welcomes Cyprus Parliament’s adoption of bills for Eurozone entry
2007-03-22 09:29:38

Brussels, Mar 16 – The European Commission has described as a ''positive fact'' the adoption by the Cyprus House of Representatives of the four bills for Cyprus' entry into the Eurozone on January 1st, 2008.

''The European Commission takes into consideration this positive fact'', a spokesperson for the EU Commission for Economic and Monteary Affairs also said before noting that all legal and economic criteria will be evaluated and the procedure will probably be concluded in May.

The final decision will be taken at the forthcoming European Council on June 21 – 22, 2007.

Last week, the Cyprus House of Representatives plenary voted in favour of bills for Cyprus' entry into the Eurozone on January 1st, 2008, with 36 votes in favour from the Democratic Rally, the Democratic Party, the European Party, the Social Democrats' Movement EDEK and the Ecologists and Environmentalists' Movement, and 15 against from AKEL.

The Republic of Cyprus joined the EU in May 2004.

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