Currency changeover is gradually attracting the attention of more and more businesses and consumers. The practical preparations to ensure a smooth changeover keep unfolding and the NECC is stepping up its efforts to disseminate as widely as possible the relevant information to everyone.

The public, on the other hand, is increasingly becoming acquainted with the euro through the thousands of outlets whose owners voluntarily started to display prices in both Maltese lira and the euro as early as January.

Additionally, the government has also rolled out dual display across all its departments and agencies as well as within its wider public sector since March. This means that all bills, payments and administrative documents issued by government including the salaries paid to public officers have been showing the Maltese lira counter value in euro for a number of months.

Dual display is a means to help the consumer start “thinking in euro”. Seeing the value of their purchases in two currencies slowly pushes everyone to start establishing a scale of reference values.

Over 6,000 retail outlets have already been assigned the FAIR mark and many others are working hard towards obtaining it. The presence of the FAIR mark is an indication of the retail sector’s strong commitment towards fair pricing and transparency.

The FAIR initiative has also brought with it a number of other benefits and has offered assistance to retailers preparing for the euro changeover as well as to consumers. Those businesses subscribing to FAIR receive free training as well as practical assistance to help them convert the prices of their items or services.

Shop owners are also provided with conversion tables are also provided to hand out to their customers. When pricing items, a retailer is expected to use the central parity rate of 0.4293 and to round their prices to the nearest cent. Legal Notice 4 of 2007 under the Euro Adoption Act regulates the FAIR initiative and dual display both during the voluntary and also during the mandatory period of dual display.

These initiatives are all contributing to ensuring that the euro is introduced in a smooth and efficient manner. However, cooperation is required from all stakeholders concerned. Businesses, which are the primary stakeholders in this changeover process, need to ensure they are geared up to introduce the euro. A number of tools have been published by the NECC. Tailormade publications for the elderly, housewives, businesses and vulnerable groups have been internally developed by NECC officials. All publications are in both Maltese and English.

Apart from these publications, regular meetings are held with various stakeholders in order to assist them more closely during their changeover preparations. A training programme is also being prepared to assist businesses with future euro cash transactions as well as with the significance of dual display and the FAIR initiative. Specific training on IT systems is also being provided by a number of experts.

Melvyn Mangion, NECC spokesperson said that in the coming months, and leading up to euro adoption, the momentum will further increase by including the following new initiatives to inform the public:

• Distributing, free of charge, dual display calculators to the general public to assist in familiarising with euro values (September 2007);

• A “euro curriculum” including plastic euro money kits and wallets to all school children and vulnerable groups;

• Re-launching of the euro website to allow direct internet chat with the information officers, and providing a registered area where the public can subscribe to brochures, articles and press releases. The euro changeover planning tool will also be available for businesses;

• Setting up temporary euro centres in towns and villages manned by trained euro volunteers; and

• Launch of the “Home Visits on Request” initiative, to answer queries from the elderly and vulnerable in their homes.

The launch of the voluntary FAIR initiative in January this year invited businesses to commit, not only to adopt dual display prior to the mandatory period, but also not to increase prices due to the euro changeover. This is a pledge by the business to their customers. Legislation and enforcement structures are in place to ensure businesses honour their FAIR commitments.

The information campaign is focusing on empowering consumers by generating awareness that euro adoption should not mean price rises. In addition, consumers will be urged to use their influence by questioning unnecessarily inflated prices of goods or services.

In January 2007, the NECC initiated a co-funded project to monitor and analyse prices through a series of anonymous “mystery shopping” exercises. Already, two shopping exercises have been concluded, and results are currently being analysed. The findings of each exercise will be made public through the media.

The public can contact the NECC either through mail, email to www.euro.gov.mt, via the Linja Ewro 154 helpline or via direct chat through the website.

The NECC will provide this facility for the entire duration of the changeover i.e. until mid-2008. Up till the end of June 2007, 10,800 calls were received on Linja Ewro 154.

The NECC is also being assisted in its communications campaign via the PRINCE Grant Agreement financed by DG ECFIN.

The grant agreement is a political agreement between the government of Malta and the European Commission for the organisation of information and communication campaigns on the changeover to the euro in Malta in the framework of the information and communications strategy on the euro and Economic and Monetary Union.

On the other hand, the European Commission Representation Office in Malta as well as a number of corporate business organisations are entering into collaborative activities with the NECC for the purposes of the communications campaign.

BOV will be supplying to the NECC the BOV converter which will be distributed to households in September 2007.

The NECC is also closely working with the Maltese and Gozitan College of Parish Priests and will be carrying out joint initiatives particularly focussed on vulnerable groups.

The NECC is assisting various “summer school” initiatives through the provision of resources and information for coordinators as well as by visiting the schools which are organising such initiatives during this summer.

Over 5,000 price guns have been distributed to outlets participating in FAIR.

Moreover, in excess of 1.2 million conversion booklets have been distributed through FAIR retail outlets.