Speculation by the UK’s influential news magazine ‘The Spectator’ that Malta, Spain and Italy might be the next EU member states in need a bailout was categorically denied this afternoon by Prime Minister Lawrence Gonzi.
Dr Gonzi called these comments as ‘baseless’ and said that all Malta’s financial data shows that Malta is performing much better than the EU average.
Announcing that Malta has revised downwards its deficit for 2010 to 3.6 per cent of GDP instead of the projected 3.8, he said that Malta is on the way to continue to lower its deficit this year.
He also said that Malta has ended last year with a GDP growth of 3.7 per cent – one of the best growth rates in the EU.