The Euro Rears Its Head
It is time for another installment of my euro reports.
Today, 1 July 2007, is another milestone on the road to Malta adopting the single currency. Starting today, all prices must be displayed in both liri and euros. This six-month period aims to familiarise the Maltese public with the new prices. Advertisements come on the television all the time with little hints and tips, the latest of which is to make sure you pay attention to the prices in euros over the coming months.
Some retailers have been prepared for some time, already adhering to dual-display of prices and issuing receipts with totals in both currencies. The little € has been showing up in more and more price tags, menus, advertisements and receipts. It also shows up in places that I had not considered. For example, stamps have to show both prices as well, with the 8 cent stamps now showing both ”Lm 8c” and “€0.19″ somewhere on the design. Magazine ads showing discounts now have to show both prices as well. The balance of my mobile phone account is displayed in liri and euros. Bank account statements, credit card bills… anywhere that a sum of money is displayed.
However, I do not think that everyone is ready, despite having had plenty of time to prepare. As of last Thursday (Friday was a public holiday), I received a few receipts that did not show the euro totals. My local food store down the street was not showing a single price tag in euros, and neither was the pharmacy. They now have to work hard to get all the new price tags up over the weekend, or face lack of compliance. As of 11:45pm last night, 30 June, the restaurant where we ate had the euro prices on the menu but not on the receipt.
Which leads me to wonder how many retailers will not be compliant come Monday morning. Still, it is a reminder that the euro will soon be here. The Financial Times, which lists the prices for the newspaper in many countries, did list both prices for Malta for the first time. The lira begins its long goodbye.
