The European currency is today (1 January) replacing the national currencies of the two Mediterranean islands of Malta and Cyprus, bringing the number of EU states using the euro to 15 out of the 27 member states.
The euro will replace the Cypriot pound and the Maltese lira, which currently equal €1.71 and €2.33 respectively.
Cyprus and Malta joined the EU on 1 May 2004 together with eight other states and follow Slovenia which in January 2007 became the first "new" EU state to jo...
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