Germany confirms criteria for Eurozone accession are economic

Government Spokesman Christodoulos Pashiardis said that Germany has confirmed to Cyprus that the criteria for accession to the Eurozone are economic.
Pashiardis said that “there was a relevant statement by the German Ambassador in Nicosia who categorically assured that the criteria which will be valid for Cyprus’ accession to the Eurozone are solely economic, just as they applied for all other countries”.
To a remark that German Foreign Minister Frank-Walter Steinmeier, during his meeting with his Cypriot counterpart George Lillikas avoided making such statement, Pashiardis said that Steinmeier might have avoided making such public statements however he assured Mr. Lillikas that the criteria for Cyprus’ accession to the Eurozone are economic”.
Germany’s Minister of Finance Peer Steinbrueck had reportedly said on Sunday that Cyprus‘ accession to the Eurozone might have political repercussions and thus should be discussed on a political level.
Cyprus expects to enter the Eurozone on 1st January 2008.