Malta’s Banking System – Business As Usual

The recent happenings surrounding the collapse of the Cypriot banking system and the Eurogroup's unprecedented plans for the Cypriot restructuring programme have brought to the fore questions about Malta's economy – speculations that have been fuelled by certain members of the international press suggesting superficial comparisons between Malta and Cyprus. These comparisons are both misinformed and misconstrued.

The government of Malta issued a statement affirming the strength of Malta's banking sector. "Malta joined the euro area in 2008 in order to further enhance its macroeconomic and financial stability, and to contribute to the stability of the euro area-wide economic and financial system. Together with other EU Member States, Malta participated in the setting up of a euro area regulatory and supervisory framework which includes the European Systemic Risk Board (ESRB) and the European Supervisory Authorities (ESAs). Malta contributes actively to these