Euro information

Here are this week's questions on euro information answered by Melvyn Mangion from the National Euro Changeover Committee:

Can I spend our national euro coins outside Malta, i.e.: If I travel to Italy, will I be able to use our coins? And, on my return to Malta, will Italian euro coins be accepted locally?

The different national versions of the euro coins are legal tender throughout the euro area; indeed universal acceptance is one of the main principles of a single currency.

The national sides of the coins in no way limits their validity in other euro area countries. Hence, you do not need to change any money before you travel to a country within the Eurozone and the same applies on your return to Malta i.e. you can spend Italian euro coins locally.

Is Malta obliged to adopt the euro?

When Malta became a member of the European Union on May 1, 2004, it also became a member of the economic and monetary union with the status of a member state with a derogation. This implies that Malta is obliged to adopt the euro as its national currency.

New member states have to achieve certain economic and budgetary results, known as the Maas-tricht criteria, before adopting the single currency.