The Minister for Finance, Prof. Edward Scicluna, met with the European Commissioner for Financial Stability, Financial Services and Capital Markets Union, Jonathan Hill, earlier today, Thursday, 11 February 2016, in Brussels.
The meeting is part of a series of high-level exchanges which Minister Scicluna’s has been holding at an EU level in order to ensure that Malta’s economic and financial interests continue to be safeguarded.
STATEMENT BY THE MINISTRY FOR FINANCE
Minister Scicluna underlined that Malta has been at the forefront in supporting and implementing EU proposals aimed at safeguarding financial institutions. He added that the safe regulatory regime in Malta is a key reason for its burgeoning financial services sector and the attractiveness of Malta as a jurisdiction. The Commissioner and the Minister also discussed the continued strong performance of the Maltese economy, which is supported by exceptional investment and a buoyant labour market, and which is amongst the top performers in the EU.
During the meeting, Minister Scicluna also brought up the issue of custodians under the Alternative Investment Fund Management Directive (AIFMD) within the context of Malta’s specific circumstances. The Minister stressed that the depositary passport is fundamental for Malta and for the continued development of the Single Market.
The upcoming Maltese Presidency of the Council of the EU in 2017 was also touched upon at the meeting. Minister Scicluna stated that he looks forward to working very closely with the European Commission in the months preceding – and during – Malta’s term at the helm of the Council of the EU.
“It was an enjoyable, though frank, meeting wherein Malta’s position on various forthcoming EU issues was clearly put across,” Minister Scicluna said after the meeting.
While in Brussels, Minister Scicluna is attending a meeting of the Eurogroup later today and a meeting of the Economic and Financial Affairs (ECOFIN) Council tomorrow, 12 February. During the meetings, the Minister is being accompanied by the Permanent Representative to the EU, Marlene Bonnici, and the Permanent Secretary within the Ministry for Finance, Alfred Camilleri.
– Thursday, 11th February, 2016