MEPs Simon Busuttil and David Casa welcomed the outcome of the vote in the European Parliament in favour of Malta’s adoption of the euro from 1 January 2008.

The Strasbourg plenary voted by an overwhelming majority - 610 votes in favour – to accept Malta’s accession to the euro-zone.

Welcoming the resounding vote, Busuttil and Casa said that membership of the eurozone was now one step closer.

Following the vote in plenary all that remains to be done is a final endorsement in the Council of Ministers composed of heads of Government which will meet on Thursday and Friday and the meeting of the Ecofin Council in early July which will set the exchange rate between the Maltese lira and the euro in an irrevocable manner.

Busuttil and Casa recalled that during the debate in Parliament, EU Commissioner Joachim Almunia had confirmed that Malta had not only fulfilled the criteria for adoption of the euro but had also done so in a credible and sustainable manner.

David Casa said that “The Maltese people are used to overcoming tough hurdles. The challenges have been hard but we have turned them into opportunities. This is a historic moment for the European Union since the euro will now be in circulation in 15 countries. It is also a historic milestone for Malta because it signals a deeper integration of the country into the European family of nations”.

Simon Busuttil added that the country must now focus on a smooth transition towards the entry into circulation of the euro in Malta. “We must now help consumers make the transition in a way that protects their interests. We have achieved a lot and we can do this too,” he said.