Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions and the European Bank

Abstract

This report assesses the state of practical preparations at national and Community level for the future enlargement of the euro area. It is the fourth report on this subject. The preceding reports were adopted in November 2004, November 2005 and June 2006.1The Fourth Report focuses on recent developments concerning practical preparations in Slovenia as this country will enter the euro area on 1 January 2007, following the Council's decision that it fulfils the necessary conditions for the adoption of the euro. Furthermore, the report gives special attention to the preparations in Cyprus and Malta, two countries aiming to adopt the euro on 1 January 2008. Both countries have recently adopted their national changeover plans. Finally, the report examines the state of the preparations in the other Member States and at Community level. 2This, and previous, reports on the practical preparations are without prejudice to the Commission's Convergence Reports, required by the Treaty, on whether the Member States with a derogation fulfil the "Maastricht" convergence criteria.