The decimalization of Maltese currency

Abstract

With Britain's decision, in the light of the findings of the Halsbury Committee, to adopt decimal currency, there is an urgent need for Malta to reach an early decision in this matter. For obviously Malta cannot remain isolated while the rest of Europe and, indeed, North Africa used decimal currency. Malta must therefore so determine her choice of a currency system as to affect as minimally as possible the general economic life of the country. This Report is therefore divided into two main parts. In the first place, it studies and assesses the options available to Malta if a change of currency is contemplated. In the second place, it will seek to identify. the short-term and long-term effects. This will be done primarily in terms of an eventual adoption by Malta, as this Report recommends, of the U.K. decimal currency system.