Bulgaria, Romania to join January 1

It's official-Bulgaria and Romania have been approved to join the EU on January 1, 2007 after the European Commission determined recently that both nations had made enough progress for entry after seven years of membership talks.

“The accession of Bulgaria and Romania will mark a historic achievement. Their readiness is a direct result of the sustained progress both countries have made,” said European Commission President Jose Manuel Barroso.

At the same time, the European Commission has proposed close monitoring of both countries' continuing reforms, adding that economic aid will be conditional on the completion of further overhauls.