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PM: Euro Summit sends clear message of stability to markets
Prime Minister Lawrence Gonzi says the summit registered a level of success of what is the euro currency.
9 December 2011, 12:00am
Miriam Dalli
Miriam Dalli
1 min read
Prime Minister Lawrence Gonzi in Brussels (Photo: DOI)
"It is clear the international markets expected all prime ministers to address the issues which were worrying the markets and expected a clear and stable message of trust in the Euro ... a strong currency which addresses the current challenges," Prime Minister Lawrence Gonzi said, at the end of the Euro Summit.
Gonzi said during the summit, all 17 eurozone leaders, supported by other leaders, bound themselves to several important principles: "Most importantly that each country should aim at a balanced budget with zero deficit."
He added the Maltese government has long been reiterating this should be a country's goal. The Maltese government, he said, has tried to address the deficit problem more than once, but the international crisis and recession had temporarily halted the plan.
"The principle of a balanced budget, the stability growth pact and other important parameters will be strongly implemented," Gonzi said. "Our message to the markets is that we will not let what happened to the markets before repeat itself."
He said the leaders went to the summit prepared with their concerns and all points were addressed.
Gonzi said the leaders also agreed to hurry the process by which the temporary European Financial Stability Facility will be replaced permanently by the European Stability Mechanism (ESM).
"I believe this also sends a strong message to calm the worries of the financial markets. I take the opportunity to thank Opposition leader Joseph Muscat for agreeing to the government's position."
Gonzi also called on the European Council to hurry up the process to unfreeze the Libyan assets. "It is clear the new government needs the finances to administer the country in the most important things."
Miriam Dalli joined MaltaToday.com.mt in 2010 becoming assistant editor f...
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I have posted it many times here. The Euro is doomed. Anyone with the slightest bit of intelligence can see that, except our and others politicians. I gave it till the end of the year. I stand with that prediction. After all it is all about how the market reacts. The markets don't give a rats ass about the Euro. Out now or cry later.
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This is one of the most dangerous things that the EU wants us to do. ** What if circumstances require that we cannot have a balanced budget to save industries etc? ** This is the sheer madness that reigns in the EU. ** Time to get out before the whole thing collapses and buries us under its rubble.
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The Eurozone problems are eroding the PN's Superiority complex on the local political scene. It is making the nationalists eat the dust that they have accumulated throughout their years in power and is now exposing them for what they are, a bunch of lackeys to foreign power and whose sole interest in their 'nationalist' soul is to grab as much as they can from the national coffers.
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It is too early to talk about stability!!! Let us see what is going to be proposed - I honestly hope that NO big DADDY tries to fiddle with some increase in Taxation, over board or harmonise the tax regimes amongst the 26 who agreed this pact yesterday. This for Malta should be a no go area. Only time will tell!
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My criticism is they dont do anything in ten years before there was a crises
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Good photo, I know just were to put it.
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How is it that only Gonzi is posing for the camera? It's always the same - he goes to Brussels to say yes to everything and then smiles to the camera shutter. They used to tell us years back that once in the EU we will have a say in European affairs. My foot! It's the other way round, Gonzi. It's Europe that is having a say in Maltese affairs now.
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Dr. Gonzi bil-paroli jghid li jrid imma x'hin jigi ghal fatti jaghmel il-kontra. Jiehu hsieb li jibbilqancja l-budget qal mela zokk, l-ewwel ma ghamel li ta zjieda ta' €500 fil-gimgha lilu u lil shabu zjieta ta' €26,000 kull sena KULL WIEHED U WAHDA minnhom. Infiq bl-addocc f'taparsi progetti li ma joholqu l-ebda mpjieg, tberbieq ta' miljuni f'konsolenzi bla bzonn u allowances u lill-impjegati gholjin tal-Gvern bl-addocc. Kiri ta' karozzi bl-addocc, haddiema fid-dipartimetni tal-Gvern ma jmorru qatt ghax-xoghol (mur iccekkja f'Ghawdex x'hemm, rebus ta' haddiema mal-gvern qatt ma jmorru ghax-xoghol) forsi bil-barka ta' xi hadd kbir/a. Kif jista qatt ahna nemmnuk li qed tghid li ser tibbilancja xi darba l-budget? Ghax hlief djun tilghin m'ahniex nisimghu u l-imghaxx ta' kulljum jizdied. Tghid il-bonds li ghandna mal-Gvern ghad jigu ma jiswew xejn bhal tal-Grecja?????
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"Aiming" for a zero deficit; each country "should" aim to this goal;then Gonzi says that international problems halted his plan for a balanced budget.......etc etc. It all seems to be vacuous talk really..........what's the diff between this agreement then and how the Euro zone operated before? If, as Gonzi says, a balanced budget is not achieved because of international problems- than what's the point of a new agreement? A country can blame it on the rest - like Gonzi is doing. It's circuitous argument and markets will soon realize it and respond accordingly and then they can have the 16th summit.
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Oh yes you tried to address the deficit by 500 euros extra per week,a theatre without a roof, a new parliament which we don't need, a bridge to nowhere etc etc etc., and i almost forgot a string of fiascoes by your favorite wanker.
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Stability...............Only time will tell. Europe is a mature market and things do not look good. Also, the EU countries who are backing this agreements should be ashamed of themselves for catipulating to germany and give up the hard earned freedom they earned after WWII. Shame on them for not beeing man or woman enough to have this voted on by their peoples. I have never seen anything so undemocratic in my life. Shame Shame Shame.
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Stability? What stability? The euro is now in the hands of 2 powerful countries: Germany and France. Let's hope they won't start dictating to all; let's hope that Gonzi shows his strong pair of hands and does not end up bullied. The news on the international media including the New York Financial Times and The Economist are not that optimistic. They are describing this treaty as a split and a divorce! see here:
http://www.economist.com/blogs/charlemagne/2011/12/britain-and-eu-summit
http://www.economist.com/blogs/charlemagne/2011/12/britain-and-eu-summit
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Stability? What stability? The euro is now in the hands of 2 powerful countries: Germany and France. Let's hope they won't start dictating to all; let's hope that Gonzi shows his strong pair of hands and does not end up bullied. The news on the international media including the New York Financial Times and The Economist are not that optimistic. They are describing this treaty as a split and a divorce! see here:
http://www.economist.com/blogs/charlemagne/2011/12/britain-and-eu-summit
http://www.economist.com/blogs/charlemagne/2011/12/britain-and-eu-summit
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Stability? ** Keep on joking. ** wait a couple of weeks and see if we will be back to square one.
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Gonzi's diktat STILL spending money like it's coming out of the ground. The usual empty words from an empty politician
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It won't happen again, Gonzi said. I am sure it won't cause hopefully he won't be there come nest election. After all deficits were created by Nationalists Governments, both in the 60's and during the last 23 years.
Mintoff left about €1,000,000,000 after pulling the Maltese Nation from the junk we were in, in the 60's.
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An interesting picture : when was it taken ? How come Zapatero is in it as well as the new Belgian prime minister, the bow-tied Elio De Rupo ? Who issued it Was photoshop used ?
J. Ellis.
