BRUSSELS, Feb. 13 (Xinhua) -- Cyprus has formally applied to join the euro zone, the European Commission confirmed on Tuesday.

    "Cyprus has indeed sent in a request for us to look at whether they are ready to join the euro zone," said European Union spokeswoman Amelia Torres at a daily briefing.

    Torres said the EU executive arm and the European Central Bank will in May complete their assessments of euro entry for Cyprus. EU finance ministers will then consider the matter before it goes to leaders for final approval at their June summit.

    If Cyprus wins the EU approval to join next year, it would become the 14th nation among the 27 EU members to start using the currency.

    Cyprus joined the EU in May 2004, together with nine other countries. Among the 10 new EU members, Slovenia was the only one that has adopted the euro. Slovenia became the 13th member of the euro zone on Jan. 1, 2007.

    Malta also plans to join the Europe's common currency next year,while Slovakia is scheduled to join in 2009. Quest for the euro-zone membership of Latvia, Lithuania and Estonia is likely to be delayed due to high inflation.