Central Bank of Malta - Annual Report 2005

According to the Central Bank of Malta's Annual Report 2005, the past year witnessed an important milestone in Malta's monetary history with the entry of the Maltese lira into ERM II.

"Preceded by measures to liberalize the economy and to harmonise financial standards and practices with those of the Union, ERM II membership constitutes a further step in a sequence that will culminate in the adoption of the single currency. The latter, in turn, is a central component of a strategy designed to

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