“If one had any doubts about the indignity suffered by indebted countries who are forced to seek a bailout, one should have been present for the night long meeting held in Brussels to decide the bailout conditions to be imposed on Cyprus following the crises which left them with a 17 billion euro gap in their system”. This was stated by the Minister of Finance, Prof Edward Scicluna who attended an extraordinary Eurogroup meeting in Brussels. He was accompanied by the Permanent Secretary in the Ministry of Finance, Mr. Alfred Camilleri.
Eurozone Finance Ministers discussed plans to rescue Cyprus. The proposals contained a mixture of tax rises, one-off levy on deposits, gold sales and plans to downsize the banking sector in Cyprus.
Following an 9 hour meeting lasting till the early hours of this morning, Eurozone Finance RMinisters managed to agree on a deal worth 10 bn euros bailout for Cyprus.
Like other small Eurozone Member States Malta had a special interest in following closely the proceeding and seeing that while safeguarding the interest of the creditors the bailout would minimise the suffering such conditions would impose on the Cypriot people.
Il-Ministru tal-Finanzi fil-laqgħa Special Euro Area dwar Ċipru
“Jekk wieħed qatt kellu xi dubji dwar l-umiljazzjoni mġarrba mill-pajjiżi midjunin u li ġew sfurzati li jfittxu bailout, wieħed kellu jkun preżenti għal-laqgħa li damet il-lejl kollu u li saret fi Brussell biexjiddeċiedu l-kondizzjonijiet tal-bailout li għandhom jiġu mposti fuq Ċipru wara l-kriżijiet li ħalliethom b’differenza ta’ 17 il-biljun Ewro fis-sistema tagħhom “. Dan intqal mill-Ministru tal-Finanzi,il-Prof Edward Scicluna li attenda għall-laqgħa straordinarja tal-Eurogroup fi Brussell. Hu kien akkumpanjat mis-Segretarju Permanenti fil-Ministeru tal-Finanzi, is-Sur Alfred Camilleri.
Il-Ministri tal-Finanzi tal-Eurozone iddiskutew pjanijiet biex isalvaw lil Ċipru. Il-proposti jinkludi taħlita ta’ żidiet tat-taxxa, one-off levy fuq id-depożiti, il-bejgħ tad-deheb u l-pjanijiet sabiex jiċċekken is-settur bankarju f’Ċipru.
Wara laqgħa li damet 9 siegħat sas-sigħat bikrin ta’ dalgħodu, Il-Ministri tal-Finanzi tal-Eurozone rnexxilhom jaslu għal ftehim li jiswa 10 biljun Ewro għal Ċipru.
Bħal Stati oħra żgħar membri fil-Eurozone, Malta kellha nteress speċjali li tosserva mill-qrib l-andament ta’ dan il-ftehim u tara li, filwaqt li jissalvagwardja l-interessi tal-kredituri, il-bailout se jnaqqas kemm jista’ jkun it-tbatija li dawn il-kundizzjonijiet setgħu jimponu fuq il-poplu Ċiprijott.
– Saturday, 16th March, 2013