In the last similar survey held by the European Commission, only 38% felt they were rather well or very well-informed about the currency. The Maltese’s increase in self-perceived euro-related knowledge is believed to have come about through the campaign tied to the introduction of the common currency.  

However, the self-reported level of information does not necessarily coincide with actual levels of knowledge. Although 71% of Maltese said they  were well informed about the euro only a minority at 28%, was able to correctly say how many countries there are in the eurozone . This indicates that citizens appear to be less interested in the global aspects of the European Monetary Union (EMU), though they seem to be content if they are well informed about the changeover scenario.    

The survey also found that 98% of Maltese believed the country would adopt the euro currency by 2008.  

Just under a quarter of Maltese respondents, at 23% disagreed that the introduction of the euro can increase economic growth and employment.

Last month Malta fulfilled the necessary criteria to join the euro currency on the 1st January 2008, according to positive convergence reports by the European Commission and the European Central Bank (ECB).

The European Commission’s proposal for Malta to adopt the currency will be discussed in the Economic and Financial Affairs Council (ECOFIN) in the first week of June.

It will subsequently be scrutinized in the European Council on the 21st and 22nd June, where the political agreement for the enlargement of the euro area is to be adopted. If the decisions of European Council are positive, proposals for the irrevocable parity of the exchange rate will be presented and adopted in the following ECOFIN in July.