- The European Commission of the European Union has announced that ten countries - Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia - have met its criteria for entry, opening the way for an expansion of the EU from 15 member states to 25. The European Parliament has still to consider each candidate individually and the final decision will require the approval of the current member states.
- EU enlargement: Ten new member states (Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia) join the European Union, increasing the EU's population by 75 million people to a total of roughly 455 million.
- The European Union invited Poland, Hungary, the Czech Republic, Slovakia, Slovenia, Latvia, Estonia, Lithuania, Cyprus and Malta to join. Expansion is scheduled for May 2004.
- Moody's Investors Service downgrades the credit ratings of several European Union members including Italy, Malta, Portugal, Slovakia, Slovenia and Spain and issues a negative outlook for the ratings of Austria, France and the United Kingdom.
- The Standard & Poor's credit rating agency lowers its long-term credit ratings on the eurozone countries of Cyprus, Italy, Portugal, and Spain by two notches each and Austria, France, Malta, Slovakia, and Slovenia by one notch each.