Lapsing of lira notes and coins

7 December 2011

Decree Law 201/2011, containing "Urgent measures for growth, equity and the consolidation of the public finances" (published in the Ordinary Supplement to Gazzetta Ufficiale no. 284 of 6 December 2011) , provided for the immediate lapsing and assignment to the Treasury of lira banknotes, notes and coins still in circulation (Article 26).

Accordingly, as of 7 December 2011 the Bank of Italy no longer exchanges lira into euro.