‘Once debts are honoured we are ready to be flexible’

“Once Greece is committed to honour its debt obligations, Malta is in favour of flexibility that would allow Greece some fiscal and economic latitude in order to continue addressing the economic and social consequences of the crisis. But the Greek authorities should work within the context of the current programme in order to ensure a smooth period towards eventual new and mutually agreed arrangements that would safeguard the financial and economic interests of both Greece and the euro area” the Minister for Finance Prof. Edward Scicluna told a meeting of Euro Area Ministers for Finance, held on 16th February 2015.




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Dušan MRAMOR, Minister for Finance of Slovenia; Edward SCICLUNA, Minister for Finance of Malta; Maria Luis ALBUQUERQUE, Minister for Finance of Portugal


Finance Minister Edward Scicluna also stated during the meeting that “such outcomes can only be achieved through intense constructive dialogue, an open and trust-worthy working relationship between all the relevant stakeholders, and mutual respect and solidarity”. Malta joined fellow colleagues in seeking a common language with a view of bridging outstanding differences.




At a meeting for euro area Ministers for Finance held on Monday 16th February 2015, Ministers expressed disappointment over the fact that there was still no common ground between the new Greek government and the Eurogroup members. The Ministers augers that such a common ground together a way forward would be found.

The Eurogroup will reconvene when Greece is ready to ask for an extension of the current program.

The meeting also discussed and supported the request by Portugal to allow them to pay off some of the IMF loans in earnest. In addition, the Eurogroup also took note the on the state of play of the Cypriot program and also took stock of the economic situation in the Euro zone on the basis of the winter forecast.

For the meeting, the Minister for Finance was accompanied by the Permanent Secretary Mr. Alfred Camilleri.


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– Tuesday, 17th


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