Cyproit President Tassos Papadopoulos Sunday expressed his optimism that Cyprus would be able to join the eurozone as of Jan. 1, 2008, local media reported.

"I think no one can predict what will happen, but we are on a good track, all of our indexes are satisfactory," Cyprus News Agency Sunday quoted the president as saying.

Former Yugoslavian republic Slovenia has just adopted the euro on Jan. 1, 2007, becoming eurozone's 13th member. Cyprus and Malta are preparing for their accession to the monetary union within one year.

European Union commissioner for economic and monetary affairs Joaquin Almunia visited Cyprus last November. He said that Cyprus' economic situation regarding the fulfillment of the Maastricht economic criteria for entering the eurozone was a positive one.

But he also warned that this course must continue during the following crucial months, before the European Council decides on this issue in June this year.

Source: Xinhua