At midnight, Malta and Cyprus scrapped their national currencies for the euro. In Cyprus, the changeover was marked with special events. Among other things, the media reports that the Cypriot President made a ceremonial first euro cash withdrawal from a cash machine at the Ministry of Finance. In Malta, too, the changeover was celebrated with officials making first cash-withdrawals. From Malta Independent:

Maltese revellers last night bid farewell to 2007 and the Maltese lira while they ushered in 2008 and a new currency—before a backdrop of fireworks and entertainment organised from Valletta to Paola to Victoria.

Years of fiscal diligence and austerity measures paid off last night as Malta officially adopted the euro as its official currency, bringing, with the tandem euro adoption in Cyprus, the number of countries claiming the euro as their national currency to 15.

Prime Minister Lawrence Gonzi, who as finance minister along with parliamentary secretary Tonio Fenech, has been hard at work ensuring Malta met the demandingly stringent Maastricht Criteria for eurozone membership, and marked the occasion in a symbolic way last night.

A few minutes past midnight Dr Gonzi made the ceremonial first euro withdrawal from an ATM at the Valletta Waterfront. He was followed by Central Bank of Malta Governor Michael C. Bonello, Mr Fenech and the National Euro Changeover Committee’s Joseph F.X. Zahra and Alan Camilleri.