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EC Representation in Malta

European Commission, Malta welcome European Council agreement
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12/12/2011 12:16:50

The President of the European Commission Jose Barroso has welcomed the agreement reached during the European Council on December 9th 2011, which concerns financial policy affecting Member States.

“I want to underline the agreement on substance, the very wide agreement on substance when it comes to reinforced discipline and also reinforced convergence in the euro area and indeed beyond. Work will now begin to rapidly flesh out the details of this new treaty. The Commission will be active to ensure swift preparation of a treaty that is fully compatible with EU law and also that preserves the role of the European institutions. I am particularly happy to have ensured that the European Parliament will be associated to this process,” Mr Barroso said.

    European Commission, Malta welcome European Council agreement

    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.

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