Alfred Sant provides a Maltese perspective of eurozone developments

Malta & the euro (3) is a new bilingual publication by former Prime Minister and Maltese MEP Alfred Sant which provides a Maltese perspective of developments as they unfolded within the eurozone between 2015 and the end of the Maltese Presidency of the EU in mid-2017. The third volume features the latest dramatic chapter of the Greek crisis, the efforts to bolster economic growth in Europe, the impact of Brexit on the eurozone and the debates on the eurozone’s future now that the years of crisis seem to be over. The first and second volume of Malta & the euro were sold out within a few weeks and the publishers had to reprint both editions to meet the demand.

“This book should serve as an indispensable tool for Maltese students and common citizens wishing to understand the factors that condition the performance of their national currency,” said a spokesperson for SKS Publishers.

During the period covered in this book, the European Union had to deal with new and very important critical issues that effectively put eurozone problems in the shade. Among other crises, there were those caused by immigration, tensions with Russia over Ukraine, Islamic terrorism and Brexit.

“The euro is our national currency, so all Maltese and Gozitan people have a direct interest in following what is happening. Although the 2008 financial crisis appears to be over, divisions are emerging within the eurozone between parts that are diverging economically and socially from each other, so that an essential challenge has become that of determining how this dangerous divergence can be overcome. New structures for the management of the eurozone should not be introduced to the detriment of the interests of its smaller member states. Still on the table and so it will remain is the question: in order to improve the management of the eurozone, will it be necessary to introduce structures and rules that will inevitably be of a federal nature?” remarks the Maltese MEP.

The publication also includes a storyline of the facts relating to the introduction, development and turbulences of the euro between 1997 and June 2017. As with the previous two books in this series, Malta & the euro (3) continues with the coverage, from a Maltese perspective, of developments unfolding within the eurozone. The first two publications examined the period between 2008 and March 2015 – running from the start of the 2008 euro crisis to the point when matters had calmed down (except for the “Greek problem”). However, the European economy then still seemed to languish. The timeline in the third volume starts with the last phase (as of now) of the Greek crisis, before proceeding to the British referendum on withdrawal from the EU and bringing us to a period when the European economy seems to be well on the way to recovery, even if deep social problems persist.

The book will be launched at the Fortress Builders, Valletta, on Friday 13 October at 7pm. Dr Sant will be the main speaker at the launch and will be interviewed by journalist Antoinette Falzon. The public is invited to attend. A reception will follow the launch. Entrance is free. The book will be selling at €10 from leading booksellers.