Central Bank concludes euro minting contract

The Central Bank yesterday concluded a contract with the Monnaie de Paris for the minting of the euro coins with the Maltese national sides.

The final document was signed after agreement was reached on all administrative details relating to the production and delivery of the coins.

Dov Zerah, Mint Master and CEO of the Monnaie de Paris, and Michael Bonello, Governor of the Central Bank of Malta, signed the contract, in the presence of Jean-Marc Rives, the French Ambassador to Malta.

Following the award of the tender to the French mint in October last year, technical preparations for the production of the coins started immediately.

At the same time, a Memorandum of Understanding was signed between the President of the Eurogroup, the European Commissioner for Economic and Monetary Affairs and the Governor of the Central Bank on the start of euro coin production and on the preparatory tasks.

The preparatory phase, which includes the production of a certain quantity of test coins, will start in the coming weeks and should be concluded by the first week of March.

The second phase, which will consist of the mass production of the actual quantities required for the changeover, can start only after Malta receives the formal approval from the EU's Council of Ministers to adopt the euro.