Presidency of the EU Council is a unique opportunity for Malta
The Maltese Presidency of the Council of the European Union opens up a window of opportunity for Malta to let its own outlook be known to Europe and the world, stated Minister for Finance Edward Scicluna as he addressed the Institute of Financial Services annual dinner.
During the Presidency, said Minister Scicluna, people of influence, the media and EU civil society at large would want to learn more about Malta, its economy and history and its people, thus providing a unique opportunity for the Government and entities such as IFS to make themselves known.
Minister Scicluna said that Malta has many reasons to hold its head up amongst the crowd, thanks to its accomplishments and those of its various economic sectors, including the financial services sector.
He pointed out at the recent upgrading of Malta’s credit rating by Standard & Poor’s, its success at cutting both its debt and deficit in a gradual manner and the way the budget for 2017 has been deemed broadly compliant by the European Commission, as factors of which the Maltese should be proud of.
Minister Scicluna described how Malta will tackle files under its responsibilities during its presidency, particularly those regarding taxation, banking and financial markets. He also spoke at length about the phenomenon of de-risking by international banks which is affecting trade within the Mediterranean region.