February 10, 2012 by Ethan Wagner
Nobody likes getting dumped on an anniversary. January marks the ten-year anniversary of the euro, whose introduction was supposed to herald an era of not just economic prosperity, but closer integration across the continent. But as the financial crisis grips Europe, enthusiasm for the euro is waning quickly among the public in many member states, and nations that had once pledged to adopt the currency are getting cold feet.
In Malta, the euro replaced the lira as official currency in 2008 amid celebrations marked by fireworks, a symphony orchestra performance, and a gala flush with high-profile guests. Prime Minister Lawrence Gonzi heralded the change as a triumph, saying, “We are proud that Malta is now part of the eurozone. We are looking forward to welcoming local and foreign investors and tourists from Europe and beyond.”