Key Euro Changeover
Dates |
| 1 May 2004 |
- |
Malta joins
the European Union. |
| 2 May 2005 |
- |
Malta joins the Exchange
Rate Mechanism II (ERM II). |
| 27 February 2007 |
- |
Formal request for the country’s
convergence examination. |
| 16 May 2007 |
- |
Publication of the ECB’s
and EU Commission’s Convergence Report. |
| 1 July 2007 |
- |
Dual display of prices becomes
mandatory. |
| 10 July 2007 |
-
|
ECOFIN confirms Malta’s
adoption of the euro as from 1 January 2008 and confirms the
irrevocably fixed conversion rate of €1 = Lm0.429300. |
| 1 December 2007 |
-
- |
Sale of euro coin retailer
kits and €5 banknotes in limited amounts to businesses.
'Sub-frontloading' arrangements for businesses. |
| 10 December 2007 |
- |
Sale of euro coin mini kits
to the general public. |
| 1 January 2008 |
-
-
- |
Malta adopts the euro as
its national currency and the euro becomes legal tender.
ATM’s start disposing cash in euro.
Automatic Lm account conversions into euro. |
| 1 January – 31
January 2008 |
- |
Dual circuation period
- Cash payments can be effected in both Maltese lira and euro.
Businesses accept both euro and Maltese lira but give change
in euro. |
| 31 January 2008 |
- |
End of dual circulation
period and Maltese lira ceases to remain legal tender. |
| 1 January – 29
March 2008 |
- |
Free-of-charge exchange
of Maltese liri into euro at banks. |
| 1 January –
31 March 2008 |
- |
Free-of-charge Lm deposits
into customers’ euro accounts. |
| 1 February 2010 |
- |
Deadline for the exchange
of Lm coins by the Central Bank of Malta. |
| 31 January 2018 |
- |
Deadline for the exchange
of Lm banknotes by the Central Bank of Malta. |
