Euro information

Melvyn Mangion from the National Euro Changeover Committee answers your questions on the euro.

When will we start using the euro?

The target date for Malta to adopt the euro as its currency is January 1, 2008. This date will be confirmed by the European Council once a positive assessment on Malta's adherence to the convergence criteria has been approved.

When can I start getting euro cash?

Euro coin starter packs containing a selection of these coins can be purchased from banks/post-offices from December 17, 2007. These will have a value of approximately Lm5.

Retailers can purchase euro coin starter packs carrying a value of approximately Lm55. Multiple starter kits may also be purchased.

From mid-November, banks will start providing euro cash to large companies under certain contractual conditions, and as from December 1, depending on availability, banks will exchange Maltese lira notes and coins for euro notes and coins without any exchange charges for business clients and consumers.

ATMs will start dispensing cash from January 1, 2008, and bank counters from January 2, 2008.

Up till when can I still use Lm cash?

You can pay with Lm for cash purchases until the end of the dual circulation period, i.e. until January 31, 2008. All change is given in euros in this period.

What happens if I still have some Lm notes and coins at home?

You can exchange Lm for euros at banks until March 31, 2008, and at the Central Bank of Malta for two years for coins, and ten years for notes - at no charge.