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Scicluna, Edward


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Times of Malta - Malta | 22/07/2010

Malta needs more jobs

The Maltese Labour Member of the European Parliament Edward Scicluna writes in the daily Times of Malta that his country must create more jobs if it wants to be successful economically: "Unless we obtain an annual economic growth rate exceeding four per cent there is no chance of converging with the EU standard of living. The biggest millstone around the economy's neck is not the pensions or even social services, as some might want to think, but the unacceptably low employment base. Regarding the financial services industry, my view is that while the new EU legislation will change the culture and mentality of financial services, Malta's size is such that we can find a niche in which to generate wealth. The outlook overall is generally positive. We have the resources and structures to succeed if we want to. We must examine what damage the recession has left, lick our wounds and move on. But we cannot live in a fool's paradise. We are 70,000 jobs short. This is our Mount Everest. A group of young energetic and courageous Maltese have conquered it. The country needs to do the same."

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