” “” “"I would like to congratulate the Maltese and Cypriot authorities on their excellent readiness and the citizens on the friendly welcome they gave to the euro". Joaquin Almunia, EU commissioner for monetary affairs, thinks the changeover from the domestic currencies (Maltese lira and Cypriot pound) to the EU currency is now complete. In the weekend, Almunia took part, with Barroso, head of the EU Executive, in the official celebrations held for such changeover in Valletta. The EU Commission believes the "intensive, systematic preparation to the changeover" delivered the expected results, so that the euro could be introduced "quickly and smoothly" into the two economic systems and into everyday life. In Brussels, today, Almunia explained that the cash transactions in the two Mediterranean islands are by now made almost only in euro banknotes and coins, while the old currencies "have virtually disappeared from the citizens’ purses". Taking inspiration from "the lessons learnt from the changeovers of 2002, 2007 and 2008, the EU Executive adopted a new recommendation to organise any future changeovers to the single currency".” “” “
