It was an alignment problem that caused the ATM to twice fail to dispense euro notes to the Prime Minister during the official changeover celebration on New Year's Eve at the Valletta Waterfront.

Bank of Valletta explained yesterday that the money dispenser lost its alignment due to movement caused when large crowds surrounded the machine to witness the historic moment.

So neither Kate Gonzi nor the country's financial situation had to do with it!

Reporting the embarrassing incident yesterday - the item was written on New Year's Day when the bank had not yet explained what had happened - The Times said the joke was that the Prime Minister's wife had used the card before and exceeded the limit for the day or that Dr Gonzi had used Malta's debit card, which was overdrawn.

For the record, Dr Gonzi still managed to withdraw €100 (Lm42.93) on the night by using the fixed ATM at the BOV's Valletta Waterfront branch, two metres away from where the mobile machine stood.

Bank of Valletta said yesterday it deeply regretted any embarrassment the incident might have caused to the Prime Minister.

The faulty mobile ATM had been extensively tested and functioned properly even up to a few minutes before Dr Gonzi was due to use it, BOV said.