Pres­i­dency of the EU Coun­cil is a unique op­por­tu­nity for Malta

Malta Independent - - NEWS -

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.

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