Malta goes €uro in 2008
Euro notes and coins substituted the National notes and coins of twelve European countries, known as the Euro zone, when they became legal tender. The countries are Austria, Belgium, Finland, France, Germany, Greece, Iceland, Italy, Luxembourg, The Netherlands, Portugal and Spain.
Travellers to Euro zone countries were being encouraged to make use of debit and credit cards or travallers cheques. An information leaflet provides an initial insight on how the Euro notes and coins have replaced the currencies of the twelve European countries. It also provides guidance to present and prospective holders of currency notes and bank accounts denominated in such currencies, as well as information on payments, contract and legal instruments, besides giving useful advice to whoever intends to travel to these countries
Details where also given on the process, which has been going on for a number of months, through which the Central Bank and the commercial banks have been preparing themselves for the introduction of Euro notes and coins in order to ensure a smooth transition to the new currency in Malta.
Such preparations include a measure to ensure adequate supply of Euro notes and others relating to the exchange of existing currency notes, the conversion of foreign currency exchangers and the training of bank staff.
Malta will, as of 2008, be joining the Euro zone after applications in 2006 were submitted to the European Union in Brussels and accepted.