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MEPs support Cyprus' entry into eurozone

Article Date : Thursday, June 21, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Members of the European parliament have announced their support for Cyprus' accession to the eurozone – a move which may be of benefit to potential property investors.

Cyprus intends to adopt the euro on January 1st 2008, however, despite their support for the country's membership, MEPs were "concerned" with the length of the country's timetable for joining the single currency.

EU Leaders are now expected to make a political decision regarding Cyprus' entry into the eurozone later this week, along with Malta's own efforts to join at the same time.

Commenting on countries joining the EU and adopting the single currency recently, Kate Hamilton, spokesperson for Homes Overseas, said that it was "much more positive" that so many countries had chosen to do so from a British investors' perspective.

Countries looking to adopt the euro, such as those in eastern Europe, are likely to be a "much safer bet" than before, she added.


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