Cyprus and Malta join the Eurozone

"The story of the euro is primarily one of benefit to European citizens", considers the British daily. "Perhaps the soundest indicator of the currency's success is the fact that nation states are still eager to become part of the eurozone. Cyprus and Malta joined yesterday, adding 1.2 million people to the 320 million Europeans already using the single currency. Both nations are expecting boosts to their economies as a result of easier access to the vast markets on their doorstep. Meanwhile, four of the other 2004 accession states have linked their currencies to the euro in an exchange rate trading band. The eurozone will grow steadily larger in the coming years. And as it does so it will grow stronger. Our own government's decision, along with Denmark and Sweden, to remain on the sidelines is looking increasingly bizarre."

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