MEP Edward Scicluna appointed Socialist spokesperson on economic governance

Scicluna welcomed his appointment saying there is a need to link the EU’s approach with those taken globally.

Scicluna has been working on a six reports to reform governance of the eurozone following the recent financial debt crisis in Europe. "We cannot look at the eurozone or national economies in isolation. Our economic performance will always be within the context of the global economic outlook. Global imbalances are still a threat to economic stability the world over," Scicluna said.

Scicluna is concerned over the risk of trade and currency wars between the United States and China, which may lead to the devaluation of currencies as well as countries struggling with debts and deficits incurred as a result of global recession.

“The report is important as it will be the European Parliament’s input into how we want to improve our economic governance following the crisis. It is important we get this right,” he said.