Cyprus, Estonia, Lithuania, Slovenia 'could adopt euro by 2007'
Published:
6 May 2004 y., Thursday
Four of the 10 new European Union members could take the first step towards joining the euro by the end of this year, with the aim of adopting the single currency in 2007, the Financial Times reported.
Cyprus, Estonia, Lithuania and Slovenia have indicated they could join the Exchange Rate Mechanism II - the waiting room for the single currency - later this year, the newspaper quoted the European Commission as saying.
Under ERM II they would have to fix their currency against the euro within a fluctuation band of 15 pct.
A spokesman for EU monetary affairs commissioner Joaquin Almunia said the timetable for entry set by all the new members is "realistic".
All 10 EU accession countries are legally committed to joining the euro.
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