Cyprus News Agency: News in English, 07-02-13
CONTENTS
[01] COMMISSION RECEIVES CYPRUS EUROZONE APPLICATION
[01] COMMISSION RECEIVES CYPRUS EUROZONE APPLICATION
The European Commission received Cyprus official application to join
the Economic and Monetary Union on January 1st 2008.
EU Commissioner for Economic and Monetary Affairs Joaquin Almunia`s
spokeswoman, Amelia Torres said that all usual EU procedures and
timeframes will be followed for Cyprus application.
The European Commission will examine Cyprus application based on the
Maastricht criteria and will then submit to the Economic and Financial
Affairs Council (ECOFIN) its recommendation report in mid May. The same
procedure will be followed by the European Central Bank.
Both reports will then be examined by the EU Ministers of Finance who
will make their own recommendation to the EU leaders.
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