Min­is­ter Sci­cluna dis­cusses the re­launch of the Euro­zone and the EU at EUROFI Con­fer­ence

The Malta Independent on Sunday - - BUSINESS & FINANCE -

The in­tro­duc­tion of the Euro was a ma­jor step for­ward in the evo­lu­tion of the European Union. This was stated by Min­is­ter for Fi­nance Ed­ward Sci­cluna while ad­dress­ing the EUROFI Fi­nan­cial Fo­rum held in Tallinn, Es­to­nia, last Thurs­day Min­is­ter Sci­cluna ac­knowl­edged, how­ever, that there is still ‘work in progress’ to be con­cluded be­fore one can start talk­ing about hav­ing a big vi­sion for the fu­ture of the Union. The Euro was un­pre­pared for the in­ter­na­tional crises of 2008. As a re­sult, there was a 10-year pe­riod of low growth and high un­em­ploy­ment.

The re­al­i­sa­tion of the Bank­ing Union and the Cap­i­tal Mar­kets Union, as well as schemes for bet­ter eco­nomic co­or­di­na­tion be­tween mem­ber states when it comes to for­mu­lat­ing eco­nomic poli­cies, are areas which will be aided through more com­mit­ment and good­will from mem­ber states.

Min­is­ter Sci­cluna con­cluded his ad­dress by stress­ing the im­por­tance of in­still­ing trust in the in­sti­tu­tions prior to the Union em­bark­ing on projects that are more am­bi­tious.

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