Slovenia and Malta

Malta's euro adoption has been a subject of discussion for quite some time.

While many people, mainly PN followers but also intelligent and modern thinking individuals are in favour, a good number of Labour supporters, but also sceptical and pessimistic persons, are against this currency changeover.

But the majority seem to have forgotten that a country first has to match the important Maastricht critera (stability and growth pact) in order to be able to enter the European single currency.

On June 19, I read in The Times that the European Commission expects a higher deficit than allowed and higher than the Maltese government argues it will be. The deficit must not exceed three per cent of the GDP. The EU expects 3.2 per cent, the Maltese government 2.3 per cent for the next year.

But I believe that even the other Maastricht criteria cannot be fulfilled by the Maltese administration. Malta is not Slovenia!

In fact, Slovenia is the prime example of a small country without natural resources being able to do well in the European community.

Fifteen years ago Slovenia was still part of communist Yugoslavia; two years ago the country joined the European Union, and from next year it will be a member of the eurozone, the Economic and Monetary Union of the European Union. A growth rate of almost four per cent, an inflation rate of less than two per cent, a deficit quota of less than two per cent, a public debt of less than 30 per cent, and an unemployment rate of just around six per cent are very clear indications of the country's good performance.

Where in Malta the political situation with its opportunistic and paralysing two-party-system doesn't allow progress, Slovenia's unity and the people's common will for a positive development towards wealth and security within the European family has brought the country to its leading role across all the new member states.

Slovenia ulitised its human resources and made use of its small size. Size matters! And size, especially being small, can be an advantage!

In Malta this has never been the case, and it will never be the case unless drastic changes in the society's perspectives and especially in the political understanding take place.

Malta has to find unity, and the Maltese people have to learn to look forward to the future again, and not question absolutely everything.

Malta can do better! Malta can even beat Slovenia in the economical and social development process.