Future generations would have to pay the price if the EU project, which had brought about stability and peace, fell apart, European Parliament president Martin Schulz said this evening.

Addressing a plenary session, he asked Maltese MPs to reflect on the legacy they would be leaving for their children’s children, adding that from what he had heard, both the government and the opposition were taking the EU presidency seriously.

Earlier, Mr Schulz remarked that both the Maltese Prime Minister and the Opposition leader were aware of the significance of the European Parliament, as they were both former MEPs.

Mr Schulz also noted that the challenges Malta would be facing during its presidency were enormous. He recounted that during a walk he took around the city, he was reminded of the UK’s role in Malta’s history. In a few months, halfway through its presidency, Malta will be leading the exit process for this same country.

“I don't know how many times I have been asked whether it’s possible for a small country to manage the presidency. The answer is yes,” he added.

Addressing the same sitting, Prime Minister Joseph Muscat said the country did not believe it would be solving the EU’s problems in the six months of its presidency.

Malta will keep its feet on the ground, but it will pass on its best practices.

Dr Muscat urged for “progress” within the migration sector, noting that this could be done by considering the issue as a social one but also within the context of border security.

Meanwhile, Opposition leader Simon Busuttil referred to the disappointment expressed by some who felt that the EU sometimes did not mind its own business, such as when it came to harmonised taxation.

At the same time, there were issues that the EU should be talking about but was not, such as migration. When Malta was faced with a wave of migrants, it did not find the EU’s support, he said.

Referring to replies by Mr Schulz about the Panama Papers scandal, which he gave during a press conference this morning, Dr Busuttil insisted that the fact that a minister had a secret account in Panama did not sit well with the Opposition.

“It is important for me to say this as I don't want you to leave the island thinking that this doesn't matter for us. We are disappointed that the EU is not talking enough about corruption,” he added.

Dr Busuttil also noted that some people were not sure what the EU represented, and often questioned its existence. This had led to Brexit, and the only positive thing about Britain leaving the EU was the lesson learnt by other states that leaving the union was not the only viable alternative.

“We need to return to the basic values of what makes us European. The most important value is solidarity,” he insisted. 

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