“The Economic and Monetary Union (EMU) has brought about significant benefits effecting the everyday life of individuals and firms within the euro area, where it has created trade and jobs through the provision of free access to markets”, said Minister for Finance Edward Scicluna. This was stated while the minister was addressing ‘The Economic & Monetary Union: How has Malta benefitted and what does the future hold?’ – a breakfast event organised by the European Commission Representation in Malta in collaboration with the Central Bank of Malta, held at Laparelli Building on the 14th of September.
PRESS RELEASE BY THE MINISTRY FOR FINANCE
Minister Scicluna explained how the current favourable economic climates and the political will to deepen the EMU gives a unique window of opportunity to further strengthen the currency union, thus making it more robust. The eurozone crisis has revealed key weaknesses and the euro area was shown to have no public and very little private risk-sharing.
“Policies are needed that make the financial system more stable, and as we look ahead we need to cherish our common values and objectives. Malta’s commitment to common rules set in the past is steadfast”, concluded Minister Edward Scicluna.
Other key speakers addressing the event were Dr Elena Grech, Head of the European Commission Representation in Malta, Dr Mario Vella, Governor at the Central Bank of Malta, Mr Alfred Camilleri, Permanent Secretary at the Ministry for Finance, Mr Alexander Demarco, Vice Governor at the Central Bank of Malta, Mr José Leandro, Director at the European Commission and Mr Massimo Rostagno, Director General at the European Central Bank.
Friday 14th September 2018