Great Britain formally acquired Malta in 1814. The island staunchly supported the UK through both world wars and remained in the Commonwealth when it became independent in 1964; a decade later it declared itself a republic. Since about the mid-1980s, the island has transformed itself into a freight transshipment point, a financial center, and a tourist destination while its key industries moved toward more service-oriented activities. Malta became an EU member in May 2004 and began using the euro as currency in 2008.
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