Cyprus and Malta to adopt the euro
Tuesday, July 10, 2007
European finance ministers (collectively known as Ecofin) set fixed rates of one euro to 0.585274 Slovenia was the first new country to join, which adopted it in January of 2007. No other country has yet met the strict entry criteria into the Eurozone, including inflation, which prevented the entry of states such as Estonia, Latvia and Lithuania.and 0.4293 to the .
The news comes amid a rising value of the euro, on the same day it reached a new all-time high of 1.37 U.S. dollars.