Cyprus and Malta sign euro information programme

Cyprus and Malta signed on Friday an agreement in Brussels on Friday to participate in the European Union Prince programme to inform their citizens about the euro.

“Signing this agreement is proof that the EU believes that we are on the right track to join the Eurozone on January 1, 2008,” Cypriot Finance Minister Michalis Sarris said as he signed the agreement with EU Commissioner for Economic and Monetary Affairs, Joaquin Almunia.

He said the implementation of the agreement will help Cyprus benefit from the experience of other member states and it will also bring financial benefits.

The whole effort to inform the public at large is very important in that it will help allay fears about joining the Eurozone, he added.

“It is very important to secure, as soon as possible, fiscal discipline, a prerequisite for our participation in the Eurozone,” Sarris said, adding that “macroeconomic stability means tangible benefits for the Cypriot people, low interest rates, low inflation, fast growth and full employment.”

Under the Prince programme, EU funding to Cyprus and Malta will be allocated for specific activities, to be undertaken by the Commission.

These activities include opinion poll, a conference on the Euro in Cyprus, seminars for journalists, Euro coin exhibition and distribution of promotional products.