ELI5: Explain Like I'm 5

Italian lira

Okay kiddo, let me tell you about Italian lira.

Before the year 2002, people in Italy used a type of money called the "lira" (pronounced lee-rah). It was like a special kind of toy money that you could use to buy things you wanted, like toys or candy.

The lira was made up of little pieces of paper or metal, and the different sizes and colors meant they had different values. Just like how you might have a bigger toy that costs more than a smaller one.

But when 2002 came around, Italy and some other countries decided to use a different type of money called the "euro" instead. That meant people could no longer use lira to buy things.

Some people might still have old lira coins or bills as a souvenir or keepsake, but they can't use them to buy anything anymore. So now, when you go to Italy, you would use euros to buy things instead of liras.

Does that make sense, little one?