The GRTU made reference to recent comments by Economics Professor and ex-MCESD chairman Edward Scicluna, who warned that if immediate measures to promote economic growth are not introduced, Malta could face more problems and higher levels of unemployment.

The GRTU said that Prof. Scicluna had earmarked the three choices facing the government in order to tackle the situation: To heavily devaluate the Lira and in so doing give exports a boost; to impose a wage freeze for some three years in order to regain Malta’s competitive edge; or leave everything as it is, go through a recession characterised by high unemployment levels, following which the economy would have gained its competitiveness and stabilised itself.

The chamber is not pushing for any of these solutions, the statement said, as it sees devaluation as a short-term measure and does not agree with the imposition of a wage freeze. However, the statement continued, there is a pressing need for a nation-wide recognition of the bad state of the Maltese economy. Only after this fact is recognised, can a true solution be found, the statement said. The GRTU will not be part of any half-hearted reform that will only make things worst in the end.

If the workers do not want a wage freeze, which the GRTU is not suggesting, then they should consider a revision of the exaggerated number of holiday and leave days presently given.

Malta cannot afford this luxury, which places the country among the most comfortable in Europe, in spite of the state of the economy.