Reacting to the conclusions of the Council after his return from Brussels, Maltese Prime Minister Lawrence Gonzi said in Parliament that Malta does not object to having to balance its budget because that was always the government’s intentions anyway.
Prime Minister Gonzi added said he considered the summit as one of the most crucial in EU history. The financial and economic turmoil the EU and the west were going through were the biggest in recent history.
The Prime Minister also said that the summit was a major success because it had agreed on the measures expected by the financial markets to safeguard themselves and create jobs. The government does not consider economic activity as an abstract exercise but to create work and the creation of jobs to provide workers and their families with a better life.
Meanwhile, Opposition Leader Joseph Muscat said that that the Labour Party was clear on fiscal discipline and that the government had to be consistent in favour of a balanced budget and should aim to reduce the national debt. He said the Opposition agrees with Government on the changes needed in the Constitution of Malta to reflect the new approach to fiscal policies.