Cyprus satisfied with EU proposal towards Eurozone’

The Cyprus government expressed here Thursday its full satisfaction with the conclusions of the European Commission which underlined that Cyprus has achieved a high degree of sustainable economic convergence with the euro area member states and that it fulfils the necessary conditions to adopt the euro.

Government Spokesman Vassilis Palmas pointed out in a written statement that the Government has achieved the great national goal of Cyprus’ accession to the Eurozone and noted that the Commission’s Report, which opens the way for Cyprus accession to the Eurozone on January 1st, 2008, “is a result of intensive and coordinated effort for the achievement of this national goal we had set out.”

“The conclusions of the Commission constitute recognition and a reward of the successes and efforts of the Government for tidying up the public finances,” he added.

Palmas said the Government “knows and recognizes that the positive outcome of this ambitious goal it has become reality due to the efforts of all the workers and productive classes of the people, both of the private and civil sectors.”

He also assured that “the welfare state will not be sacrificed for the accession to the Eurozone,” and that the support of financially weaker classes will continue through social benefits.