Brussels, 22/06/2007 (Agence Europe) - The heads of state and government have given their agreement to Cyprus and Malta's entry into the eurozone from 1 January 2008. In its conclusions, the European Council congratulates the two countries for having fulfilled the convergence criteria set since their membership to the EU thanks to their sound economic and financial policies. This decision came after the positive assessment by the Commission and the European Central Bank of the two countries' degree of convergence (EUROPE 9428), and after endorsement by the Ecofin Council (EUROPE 9439). EU27 finance minsters will take a final decision during their meeting of 10 July, on one hand formally authorising the adoption of single currency by Malta and Cyprus and, on the other, adopting the fixed and irrevocable rate of conversion between the national currency and the euro. It will then be up to Cyprus and Malta to finalise the practical preparations for changeover to the euro. (ab)