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Prime Minister Joseph Muscat and Finance Minister Prof. Edward Scicluna visit Malta Financial Services Authority
Prime Minister Joseph Muscat emphasised that the new Government will be approaching the financial services sector with continuity that safeguards stability while exploring ways to branch out into new markets. Dr. Muscat was speaking during a visit at the Malta Financial Services Authority (MFSA) with Finance Minister Prof. Edward Scicluna, during which they both…
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The Banking Resolution Directive – Videoblog 7
In his weekly video blog, Finance Minister Prof. Edward Scicluna discusses the recent agreement reached by EU Finance Ministers regarding the Banking Resolution Framework Directive. He explains why, in the eventuality that a bank might collapse, the ideal way forward lies in a compromise between the bail-in approach (where the financial burden is shifted to…
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Finance Ministry’s first 100 days – Videoblog 6
In his weekly blog, Finance Minister Prof. Edward Scicluna looks at the Government’s first 100 days, and the work he and his Ministry focused on during this time. He explains how at a critical time, the Government successfully contained the risks posed by the Cypriot crisis to Malta, and how Malta’s economic and…
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Financial Crisis: Resolution and Avoidance – Videoblog 5
In his weekly blog, Finance Minister Prof. Edward Scicluna discusses the financial crisis, and how it led to two reactions in the European Community. The first was a desire to resolve the crisis through affirmative action such as bail-outs, while the second was a desire to ensure that such a crisis does not repeat itself.…
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GVERN LI JISMA’ – Konsultazzjoni Pubblika – Fil-Berga ta’ Kastilja
Finance Minister Edward Scicluna stands by decision not to carry out a mini budget – it would have ‘sent shocks’ through the economy. Addressing a public consultation meeting themed ‘a government that listens’, Scicluna said the Commissioner would be tasked with investigating complaints raised by investors and disputes between investors and financial institutions. The…
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Country Specific Recommendations – Videoblog 4
Finance Minister Prof. Edward Scicluna discusses the European Union’s Country Specific Recommendations, which are issues that the European Commission considers a priority for each Member State to address, and how these form part of the ongoing Economic Semester. – 5th June 2013
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“Committed to Safeguarding Competitiveness of Financial Sector”
The Hon. Edward Scicluna, Minister for Finance, said the new Government remains committed to protecting the competitiveness of the Maltese financial sector and work towards further developing the sector in terms of quality. Prof. Scicluna was speaking during a seminar on the Financial Services Industry held on Thursday 30 May, 2013, organised by the Malta…
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Tax havens or tax heavens – Videoblog 3
Jurisdictions with very loose financial regulation, guaranteeing complete bank secrecy, levying no tax and turning a blind eye to money laundering. Do these jurisdictions still exist today? If they exist the OECD would have long blacklisted them with dire consequences. So what is the current debate about? It is about the grey area of tax…
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“Government committed to letting Business do Business”
“Malta’s pro-business climate has traditionally been positioned to strengthen Malta’s attractiveness as an open market economy, and this new Government is wholly dedicated to upholding that mission,” said Finance Minister Prof. Edward Scicluna. Prof. Scicluna was speaking during a retreat for high-achieving local and foreign entrepreneurs, managers, and board members who form part of the…
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Bail-in or Bail-out? – Videoblog 2
During his second weekly blog, Minister for Finance Prof. Edward Scicluna discusses the nuances behind the bail-in and bail-out debate which is currently playing itself out at European Council level. Prof. Scicluna discusses the various approaches being considered, but underscores the need that depositors’ accounts are guaranteed in the interest of banking confidence. – Monday,…