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Question: Do you agree with the introduction of the EURO?
ES   -7 (87.5%)
O   -1 (12.5%)
Total Members Voted: 7

Author Topic: Euro  (Read 1148 times)
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« on: March 20, 2005, 04:00:01 PM »

PM, de?i?joni finali dwar id-d?ul tal-Ewro mistennija tittie?ed f'Mejju.
Miktub: 20/03/2005 13:04:40
Awtur: Charles MUSCAT

AJRUPORT INTERNAZZJONALI -Il-Gvern Malti mistenni jie?u de?i?joni finali dwar l-implimentazzjoni tal-muita Ewro f'Mejju li ?ej.  Il-Laqg?a tal-Kabinett ta' nhar is-Sibt kienet it-tieni laqg?a li fiha tkompliet id-diskussjoni dwr ir-rapporti li kienu ppre?entati mill-Bank ?entrali flimkien mal-Ministeru tal-finanzi, permezz ta' l-esperti tieg?u, dwar liema hi l-a?jar de?i?joni g?al pajji?na.  

Il-Prim Ministru Lawrence Gonzi ?abbar dan qabel ma ?alla Malta lejn Brussel fejn se jie?u sehem f'laqg?a straordinarja tal-Kunsill tal-Ministri tal-Finanzi Ewropej (ECOFIN), fis-Summit tal-Partit Popolari Ewropej u fil-Kunsill Ewropew mag?ruf b?ala s-Summit ta' l-Unjoini Ewropea.  F'dawn il-laqg?at, il-Prim Ministru jinsab akkumpanjat minn Tonio Fenech, is-Segretarju Parlamentari fil-Minisetru tal-Finanzi u minn Richard Cachia Caruana, ir-rappre?entant Permanenti ta' Malta fi Brussel.  

Il-Prim Ministru qal li l-laqg??a tal-Kabinett dwar l-implimentazzjoni tal-Ewro ma wasslitx g?all-konklu?joni finali.  Dan min?abba li l-gvern irid jara xi ?viluppi jista' jkun hemm fil-?img?at li ?ejjin, g?ax anke Malta, b?al pajji?i l-o?ra membri, tkun analizzata mill-Unjoni Ewropea dwar l-aspett fiskali skond il-pjan ta' konver?enza tag?ha dwar l-aspetti makro-ekonomi?i.

Lawrence Gonzi qal li d-diskussjoni tal-Kabinett iffukat fuq il-vanta??i g?all-ekonomija f'ka? li Malta tmur g?all-aktar data vi?ina biex il-munita Ewro tid?ol f'pajji?na.  I?da din id-de?i?joni tista' tittie?ed biss wara li jkunu e?aminati u analizati d-dettalji kollha li hemm f'dan il-pro?ess.  Wie?ed irid jara x'inhi l-aktar ?a?a importanti  g?all-pajji?na, g?all-ekonomija u biex pajji?na jil?aq il-kompetittivita' u jin?olqu aktar postijiet tax-xog?ol biex pajji?na jkun f'po?izzjoni li jirba? il-kompetizzjoni mhux biss fuq livell ewropew i?da wkoll dak internazzjonali.

Dwar il-po?izzjoni ta' Malta dwar il-Patt tat-Tkabbir u Stabbilita' ta' l-UE, il-Prim Ministru qal li Malta taqbel mal-proposti li qed jitressqu mill-Presidenza ta' l-UE, i?iffieri li s-sistema tibqa' kif hi llum i?da li jkun hemm ammont ta' flessibilita' li tirrikonoxxi sitwazzjonijiet e??ezzjonali li pajji? jista' jkun g?addej minnhom.  Lawrence Gonzi qal li pajji? jista' jkun qed jg?amel riforma fil-qasam tal-pensjonijiet li tista' tkun importanti f'kull pajji? u g?alhekk wie?ed g?andu jkollu formula li ming?ajr ma jbiddel il-parametri ?enerali, jirikonoxxi sitwazzjoni partikulari li ??ib il-?id fuq medda ta' ?mien.  Il-Prim Ministru spjega li l-po?izzjoni ta' Malta hi differenti mill-po?izzjoni ta' Franza u l-?ermanja.  

Il-Prim Ministru qal li l-i?bilan? finanzjarju ta' Lm94 miljun li kien stabbilit g?as-sena 2004 fil-Fond Konsolidat kien rikonoxxut u a??ettat mill-Unjoni Ewropea.  Min-na?a l-o?ra, l-proposti tal-Gvern ta' kif se jkompli jindirizza d-defi?it g?al din is-sena mexjin skond il-pjan ta' konver?enza u l-miri kollha qed jintla?qu.  Lawrence Gonzi fakkar li s-sena li g?addiet Malta telqet minn po?izzjoni ta' 9 fil-mija defi?it li kien jinkludi l-pro?ess kollu tar-ristrutturar tat-Tarzna, u dan kellu jin?el g?al 6.5 fil-mija - din il-mira nta?qet.  Il-mira g?al din is-sena hi li d-defi?it jin?el ta?t il-5 fil-mija.  Il-Prim Ministru qal li fil-waqt li pajji?i o?rajn qeg?din f'po?izzjoni li d-defi?it tag?hom tiela, f'Malta d-defi?it nie?el u dan hu prova li l-politika ta' dan il-gvern qed tag?ti ri?ultati g?al pajji?na.

Dwar il-laqg?a ta' l-ECOFIN, il-Prim Ministru qal li din hi ma?suba biex possibilment jintla?aq ftehim dwar ir-revi?joni tal-Patt ta' Tkabbir u Stabbilita'.
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« Reply #1 on: March 20, 2005, 07:44:50 PM »

Theoretically I disagree since a monocurrency will allow more capitalist, free trade facilities.
On the other hand, Malta doesn't have an alternative now that it is in the eu.
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« Reply #2 on: March 20, 2005, 08:19:36 PM »

Quote from: Einherjar
Theoretically I disagree since a monocurrency will allow more capitalist, free trade facilities.
On the other hand, Malta doesn't have an alternative now that it is in the eu.

Yeah, but the money speculators like Soros can't profit as much when there aren't so many currencies shifting around, and banks taking the cut of the "exchange fee" -- Hail the Euro!  Nothing sucks more than needing to exchange money in Europe (or was) ... I can't wait for the Czechs to go Euro, either (although, prices will go up -- doh!) ... however, I'm now used to calculating costs in big numbers, I'll have to use small numbers again like back in the USA -- double-doh!
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"Accept the things to which fate binds you, and love the people with whom fate brings you together, but do so with all your heart." -- Marcus Aurelius
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« Reply #3 on: March 20, 2005, 08:49:52 PM »

I know prices will go up but the economic advantages are many. Hail the Euro!
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« Reply #4 on: March 21, 2005, 03:24:16 PM »

Deal on euro rules reforms reached

Ivan Camilleri in Brussels

EU Finance Ministers late yesterday night reached an eleventh-hour compromise deal to reformulate EU budget deficit rules, a key element of the so-called Stability and Growth Pact - the rules underpinning the euro.

All 25 EU finance ministers, including Prime Minister Lawrence Gonzi, yesterday met for an 11-hour marathon Finance Ministers' meeting (Ecofin), aimed at brokering a deal on the revision of the pact, just two days before the 25 EU heads of state meet to discuss economic affairs.

Discussions over the thorny issue had been deadlocked for months.

Speaking to The Times at the end of the meeting, a few minutes before midnight, Dr Gonzi confirmed that a deal was reached and said Malta was extremely satisfied with the agreement.

"Malta always maintained its position for the need of strong EU rules in order to have a strong economy. The fact that the crucial criteria, that a deficit not exceeding three per cent of GDP and that national debt levels should not exceed 60 per cent of GDP remained intact, shows that the EU will be maintaining its strong pact."

The Prime Minister stressed, however, that the new deal will now start taking into consideration the particularities of economic reforms a member state will be going through, particularly reforms connected with pensions.

Dr Gonzi said this is very important in view of the fact that Malta also needs to carry out such reforms.

Commission sources told The Times that member states rejected Germany's long-standing demand that its massive German unification payments be seen as a valid reason to violate the stability pact's austerity rules.

The sources, however, added that "there is an agreement by the finance ministers to consider 'European unification' costs as a credible reason to overshoot the three per cent deficit target."

In that case a government may post a budget gap of 3.25 per cent of GDP, but only "temporarily," the sources said.

The sources added that key to the agreed amendments is the so-called "excessive deficit procedure," triggered when a country's deficit exceeds three per cent of GDP, allowing a series of warnings and ultimately the threat of huge fines.

The deal includes the possibility that, depending on a particular assesment, the Commission may grant a further year to a member state in order to get in line with the pact's rules. Until now, a member state had three years to get in line that can now be extended to four.

The Prime Minister told The Times that the fourth year is not automatic and will only be granted after a recomendation by the Commission.

During the Ecofin meeting, Dr Gonzi was accompanied by Parliamentary Secretary Tonio Fenech.
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« Reply #5 on: March 21, 2005, 10:07:55 PM »

Hail to the Euro. Malta can never hide behind the artificial value of the Malta Pound anymore. The reason, to protect Malta made goods and the importation of inflation from outside.
Inflation will go up whether we like it or not, but it will be good for tourism, exports and Myself to buy more land in Gozo!:D Right now I have to pay 3.80 for every Malta liri. The Euro to the Canadian dollar is equal to 1.53 dollars. lol.
Imagine the buying power of the outsiders.
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