Sharing a currency

The European Union said that Cyprus and Malta are prepared to introduce the euro on Jan. 1, from Business Week:

A final assessment of the planned changeover for the two Mediterranean nations found that both had completed preparations, including the delivery of euro notes and coins to banks. The euro will replace the Cypriot pound and the Maltese lira.

The EU's Monetary and Economic Affairs Commissioner Joaquin Almunia said the two nations, which joined the EU in 2004, had to "pursue policies that continue to deliver economic stability as a precondition for sustained growth and job creation."
The two nations were given the final go-ahead to join the euro zone in July by their EU counterparts.

Cyprus and Malta will bring just over 1 million people to the 318 million who now use the euro. Their economies account for 0.2 percent of euro-zone gross domestic product. Only one other country that joined the EU at the same time -- Slovenia -- has so far adopted the euro...