If all goes well, the Maltese will be among the first “new” Europeans to use the euro, after Slovenia became the first of the 2004 EU intake to join the eurozone.

Having adopted the European currency on New Year’s Day, Slovenia became the 13th EU country to join the eurozone. Malta, along with Cyprus, is expected to follow suit next January, if it fulfils all the rigorous economic criteria required.

Slovenia’s move into the eurozone means that half the EU member states now form part of the single currency. All the other new EU countries are in the process of changing over to the euro, while the UK and Denmark have a special status that allows them to decide when, and if, they will adopt the European currency.

The situation in Malta is rather different to that of the first “new” EU member state to join the eurozone, particularly since Slovenians are quite familiar with the currency thanks to their neighbours, the Italians and Austrians, who have been trading in it for the past couple of years.

Nevertheless, National Euro Changeover Committee (NECC) public and media relations manager Melvyn Mangion believes Malta has a lot to learn from the euro changeover that has taken in Slovenia and other EU member states who have formed part of the eurozone since it was founded in 2002.

Speaking to The Malta Independent, Mr Mangion said preparations will intensify this year, particularly by means of the Fair-pricing Agreements in Retailing (Fair), which has attracted a lot of interest from shop and business owners.

“The Fair initiative, that deals with the dual display of prices in Maltese lira and euro, has attracted more than 600 businesses from every area of the commercial sector, so we are very happy with the response and you can’t expect otherwise since we’re dealing with money,” he said.

Although the NECC launched a pilot project with nine large companies at the end of November last year, preparations have been ongoing with regard to correct dual display of prices in accordance with the central parity rate (e1 : Lm0.4293).

The NECC, thanks to its 70 assistants, has already contacted all the business and shop owners that have shown an interest in the scheme, which is the “strongest tool for both businesses and consumers that we hope will lead to a smooth changeover”, said Mr Mangion, adding that the committee is also doing its utmost to reach every business in Malta and Gozo as part of its information campaign.

“We have been making shop owners aware, for example, that there will be no need to change cash registers if they join the Fair scheme.”

The NECC will provide a whole kit consisting of a special price gun, calculator, conversion charts and a Fair sticker that may be affixed to shop windows. The Fair logo may also be used for advertising purposes.

Mr Mangion explained that the NECC has been preparing for the euro changeover process since last summer and the national conference that dealt with this matter was also a big success, attracting a lot of interest.

“Now we’re planning a plenary conference to be held towards the end of the month or the beginning of February, at which we will give a report of what has been happening as regards the euro changeover,” he said.

The NECC will be reaching out to as many businesses as possibly before the mandatory period for the display of dual prices starts in July, when it is expected to be known for sure whether or not the country has made it to join the eurozone next January.

The NECC caters for consumers, businesses and vulnerable groups in particular. “The changeover committee has to keep everyone in mind, be it people with disabilities, the elderly and refugees. We are addressing our campaigns in a way that means nobody is excluded and people are informed in the correct manner,” said Mr Mangion.

He added that the euro changeover should mean that the country will be changing currency, not prices. The Fair initiative is very important in this respect, he said, adding that the NECC’s consumer sectoral committee is ensuring that consumer rights are protected.

“As regards bad dual display, the NECC has written to shop owners to make them aware of their mistakes. Over 60 such letters have been sent, but all the shop and business owners concerned were extremely understanding and did their utmost to remedy the situation immediately,” said Mr Mangion.

When the mandatory period of dual display of prices begins in July, business owners will be exempted of all bank charges when depositing money in euros, he explained, adding that the general public will be the main target of the NECC’s campaign during the last quarter of the year. A number of meetings regarding the euro changeover have already taken place, but the campaign will be greatly intensified towards the end of the year.

The general public will also be able to obtain euro starter kits from banks towards the end of December, in order to start getting used to the notes and coins before euro adoption in January, when a month of dual circulation of both currencies is expected to take place.

During this period, banknotes and coins denominated in euro and Maltese lira will both have legal tender status.

Further information may be obtained from www.euro.gov.mt or by calling the euro helpline 154.