18.7.2007 Official Journal of the European Union L 186/29 II (Acts adopted under the EC Treaty/Euratom Treaty whose publication is not obligatory) DECISIONS COUNCIL COUNCIL DECISION of 10 July 2007 in accordance with Article 122(2) of the Treaty on the adoption by Cyprus of the single currency on 1 January 2008 (2007/503/EC) THE COUNCIL OF THE EUROPEAN UNION, (2) Having regard to the Treaty establishing the European Community, and in particular Article 122(2) thereof, Having regard to the proposal from the Commission, Having regard to the report from the Commission (%), Having regard to the report from the European Central Bank (2), Having regard to the Opinion of the European Parliament (%), Having regard to the discussion of the Council, meeting in the composition of Heads of State or Government, Whereas: (1) The third stage of economic and monetary union (EMU) 4) started on 1 January 1999. The Council, meeting in Brussels on 3 May 1998 in the composition of Heads of State or Government, decided that Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland fulfilled the necessary conditions for adopting the single currency on 1 January 1999 (4. (*) Report adopted on 16 May 2007. (3 Report adopted on 16 May 2007. (}) Opinion delivered on 20 June 2007 (not yet published in the 5 6 8 The Council decided on 19 June 2000 that Greece fulfilled the necessary conditions for adopting the single currency on 1 January 2001 (). The Council decided on 11 July 2006 that Slovenia fulfilled the necessary conditions for adopting the single currency on 1 January 2007 (9). In accordance with paragraph 1 of the Protocol on certain provisions relating to the United Kingdom of Great Britain and Northern Ireland annexed to the Treaty, the United Kingdom notified the Council that it did not intend to move to the third stage of EMU on 1 January 1999. This notification has not been changed. In accordance with paragraph 1 of the Protocol on certain provisions relating to Denmark annexed to the Treaty and the Decision taken by the Heads of State or Government in Edinburgh in December 1992, Denmark has notified the Council that it will not par- ticipate in the third stage of EMU. Denmark has not requested that the procedure referred to in Article 122(2) of the Treaty be initiated. By virtue of Decision 98/317/EC, Sweden has a dero- gation as defined in Article 122 of the Treaty. In accordance with Article 4 of the 2003 Act of Accession (7), the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland and Slovakia have a derogation as defined in Article 122 of the Treaty. In accordance with Article 5 of the 2005 Act of Accession (%), Bulgaria and Romania have a derogation as defined in Article 122 of the Treaty. ecision 2000/427(EC (O] L 167, 7.7.2000, p. 19). ecision 2006/495/EC (O] L 195, 15.7.2006, p. 25). () D ¢ D Official Journal). () OJ L 236, 23.9.2003, p. 33. ¢) O () Decision 98/317/EC (O] L 139, 11.5.1998, p. 30). ] L 157, 21.6.2005, p. 203.