In a year’s time, Malta would have introduced the euro. For this purpose a committee to educate and inform the public was set up. The mission of the NECC – National Euro Changeover Committee – is to ensure a smooth transition and the attainment of the highest possible positive aspirations and perceptions of the Maltese society with respect to the euro changeover.

When Malta became a member of the European Union, at the same time it also became a member of the Economic and Monetary Union (EMU) with the status of a “member state with derogation”. Among other things, this implied that Malta was exempt from certain requirements of EMU, though it is obliged to adopt the euro as its national currency at a future date.

The date is set to 1 January 2008 and from the latest reports, it seems that we are on the right track to introduce the single European currency, the euro. This success must also be attributed to the NECC informative campaign and the FAIR initiative.

The introduction of the dual display of prices, that is the indication of prices in both the Maltese lira and the euro, aims to empower the consumer. Dual display is necessary to help the consumers understand prices and values in euro and learn to think in euro. Voluntary dual display has started to be promoted as from 1 January, however dual display will become mandatory from 1 July and will last until June 2008. During this period, consumers are expected to become acquainted with the value of goods and services in euro and will be able to compare prices.

Fair-pricing Agreements in Retailing (FAIR) is the initiative that regulates the dual display of prices of goods and services, in both the Maltese lira and the euro. In the run up to the introduction of the euro, FAIR seeks to guarantee fairness and transparency, thereby promoting consumer confidence during the changeover process. Through FAIR, consumers’ rights will be promoted and consumer confidence will be boosted.

Consumer confidence is fundamental for the success of all businesses, and FAIR attempts to generate a collaborative relationship between consumers and retailers.

Organisations that intend displaying prices in both currencies on a voluntary basis would need to subscribe to the Fair initiative. The Fair logo is a key element of this scheme which indicates that the organisation is committed to serve the interests of the consumers during the transition period. This will in turn ensure a smooth changeover from the lira to the euro and will assist the consumers in becoming familiar with the pricing of the new currency.

An initiative that one must praise is the one taken by the Bank of Valletta. The launching of the dual display on the “Fast Cash” screen of its ATMs is assisting its customers to get more acquainted with the value of the euro in relation to the Maltese lira. This practical way of being exposed to the euro value guarantees a smooth changeover.

Everybody must take the necessary steps to prepare for the euro changeover. One must make sure that he/she is well informed about the euro changeover process. The NECC, through its regular participation on radio and TV programmes, articles in newspapers and magazines and other means of communication, is providing information about the euro changeover to the public at large.

Another initiative that the NECC is carrying out together with the Education Ministry is the distribution of more then 30,000 books to secondary school students. This action is important because everybody must be aware of the changeover and give it its due importance.

This campaign together with TV programmes Ewrotfal, Ewroteens and EwroDrama, young citizens are being informed about our country’s big step. The three shows are targeting three different audiences varying from primary school students to adolescents up to 18-year-olds, addressing the euro changeover according to the audience.

The changeover that we will be witnessing in a few months is an event of national importance. The National Euro Changeover Committee is doing its best to keep the public informed and educated in the matter. One must realise that to be informed, one must also seek the information. And in this regard NECC are providing the public with an informative website: www.euro.gov.mt and the Euro helpline 154.

www.davidcasa.eu

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David Casa is a Nationalist MEP