EU's Almunia says Cyprus, Malta meet euro criteria

EU economic and monetary affairs commissioner Joaquin Almunia said Monday 6 November after the publication of a report that Cyprus and Malta will be ready to join the eurozone by 2008.

Almunia said the two countries met the criteria on the basis of their economic performance.

"According to the Commission's autumn forecasts published today, the two countries will meet the criteria for inflation, debt and deficits," Almunia said at a news conference.

He said they will initially have to make an off