Cyprus, Malta get go-ahead to adopt euro

So I go to Malta atleast once a year, and in February I asked a few people what they thought about adopting the Euro and they said it sucked …. Malta is one of the few countries in the world where it’s currency is worth more than £1! .. so …

BRUSSELS: Cyprus and Malta got the final go-ahead to adopt the euro single European currency, at a meeting on Tuesday of EU finance ministers, officials said.

The ministers, meeting in Brussels, agreed that the two Mediterranean islands should adopt the currency as expected on January 1, 2008, and swell the ranks of the European currency club to 15 members.

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The ministers also set definitive conversion rates, under which one euro will be worth 0.585274 Cyprus pounds and 0.4293 Maltese lire. The European Commission set Cyprus and Malta on the path in May by ruling that they had met the strict macroeconomic criteria needed to become members of the eurozone.

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