Malta’s resilience during economic crisis down to employers' resolve - Muscat

The country's resilience during the global recession was down to employers' approach to the crisis, Prime Minister Joseph Muscat said.

Addressing a conference organised by the Chamber of Commerce on the economic crisis and the employers' perspective, Muscat said that Europe could learn a number of lessons from the recession which he said was "ending."

He stressed that unlike other countries, private and public employers in Malta looked at people as a resource instead of shedding jobs.

"It was a crucial point in the country's resilience. It does not mean that jobs were not lost and the pinch was not felt, but we dealt with the crisis in a sensible manner."

He added that Malta was now at least mentally prepared for recovery and also ready for growth in substantial figures.

He noted that IMF and EU commission growth projections are very encouraging despite the government's conservative approach.

Turning his sight to the continent, Muscat said: "I do believe we need a change in attitude. We firstly need to give importance to the single market. It is of paramount importance and we have to move beyond paying lip service to it. The single market is pivotal in creating wealth and jobs in Europe. The new commission should put this at the top of its agenda."

Secondly, the EU must look beyond its borders and look towards South America, Africa and Asia, especially China.

He added that the EU was losing its competitive edge in agriculture and needed to go global. This could be done by revising the VISA system and open up to the Middle East and other regions, Muscat said.

"In order to avoid repeating past mistakes, Europe needs to strengthen its single market and open up itself and go global," he said.