Scicluna demands financial safeguard for Malta in treaty change
Labour MEP Edward Scicluna today demanded that a new EU financial stability mechanism paid for by all Eurozone countries "must come to their rescue in a time of economic crisis".
Prof. Scicluna was speaking following the publication of his report on the proposed treaty change that will establish a permanent financial stability mechanism to protect the eurozone.
He said:
"It is incomprehensible that any member state would be excluded from receiving financial assistance from a mechanism to which it has contributed. Yet under the proposal treaty change agreed in December by all EU leaders, including Malta's, this precise scenario could happen."
Prof. Scicluna and Jean-Paul Gauzès are Parliament's co-rapporteur's for the Economic Committee's report on the implications of the proposed treaty change, and today released their report which amends the proposed council text.
They have agreed to include a reference to "member states whose currency is the euro" to ensure that small countries like Malta would not be excluded from receiving financial assistance from the mechanism.
Prof Scicluna said:
"That the Finance Minister does not even want to consider this safeguard for Malta, on the pretext that such a situation is unthinkable, is both highly unwise and short-sighted.
"If the European Union is changing its own treaty to create a safeguard for the eurozone as a whole, why should Malta's own government ignore the need to safeguard Malta's interests".
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effie carbonaro
Jan 28th 2011, 21:20
@mario scicluna
i like to ask you a direct question.are we better off than we were before entering the euro zone ?.eliminate sentimentalizes eliminate partisan ism..than you will have the answer.entering the eurozone had nothing to do with political parties because our future was the center of everything after all these years can you say that the present was better than the past or the future is going to be better than the present situation..
mario scicluna
Jan 28th 2011, 19:49
Pity he was so opposed to Malta joining the Eurozone! After two yerars in the European Parliament, is he still convinced that it would have been better -malta out of the Eurozone??
EDWIN DE MARCO
Jan 28th 2011, 15:49
Wisdom is knowing when you can't be wise......
Mike Magri
Jan 28th 2011, 15:34
"If the European Union is changing its own treaty to create a safeguard for the eurozone as a whole, why should Malta's own government ignore the need to safeguard Malta's interests".
Prof Scicluna, agreed 100%.. IT MAKES A LOT OF GOOD SENSE....
But please pitty the minister, `miskin`.. What else could anyone expect from Our `God`s Gift` of a so called government full of all kinds of ARROGANCE...!!!!!
Keep up the good work, Prof....
Adrian Darmanin
Jan 28th 2011, 14:44
Our Ministers are doing a sterling job. They deserve a raise. Clap clap. Wave wave. Flags flags.
Salvinu Vella
Jan 28th 2011, 14:33
Leaving the failing Euro is the safest bet, not propping up pother failed countries.
Stephen Farrugia
Jan 28th 2011, 14:17
His right.
Please choose the reason of your report below: