Press Release: Close to 3/4 of all payments by Cypriot and Maltese citizens now in euro

The euro changeover has proved to be a success in Cyprus and Malta in the first week of January, 2008. The changeover of all cash and non-cash transactions to the euro appeared to be going swiftly and without noteworthy problems. After only a few days, the euro had already largely replaced the Cyprus pound and the Maltese lira in people's wallets and purses. On 5 January, 2008, almost three out of four cash payments in shops were made in euro. While there were some queues in banks and shops on the first days of the new year and after a busy first week which also included the start of the winter sales in Malta, the situation seemed to be progressively getting back to normal.