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Malta and the euro

04 February 2008
by eub2 -- last modified 04 February 2008

Malta joined the European Union in 2004 and adopted the euro on 1 January 2008.


Malta at a glance

Surface area: 320 km2
Population: 406 020 (Eurostat 2007)
Joined the European Union: 1 May 2004
Currency: Maltese lira (MTL)

Euro information

Status: Malta adopted the euro on 1 January 2008. The Maltese lira joined the Exchange Rate Mechanism (ERM II) on 2 May 2005.

Fixed conversion rate: €1= 0.429300 MTL

Adoption of the euro: Malta chose a 'big bang' scenario, with cash entering use on the same day that the euro officially becomes the country’s new currency (1 January 2008), and a dual circulation period running until 31 January 2008 during which payments were made using both Maltese lira notes and coins as well as the euro.

Exchange of former national currency:

  • From 2 January 2008 until the end of March 2008 – at commercial banks, with a limit of MTL 250 for non-banking customers. Exchange of amounts over MTL 250 by bank customers may be subject to two days' prior notice.
  • From 1 April 2007, at the Central Bank of Malta until 31 January 2010 for Maltese lira coins and until 31 January 2018 for Maltese lira banknotes.

Dual display of prices: Display of prices in both euro and Maltese lira is mandatory until 30 June 2008.

Euro helpline 'Linja ewro': 154

Documents and publications

Practical preparations

EU official documents


Opinion polls and surveys:


Euro portals




Source: European Commission