The adoption of the euro will boost the economy through foreign investment, the Nationalist Party said yesterday.

In a statement marking Europe Day, celebrated today, the PN said that it had always been an advocate of European integration because this will be of benefit to the people of the continent which is why the party pushed for membership.

Two years after joining, Malta is already reaping the benefits. In particular, said the PN, these included the allocation of the 2007-2013 budget which will see more than euro 800 million in funds being invested in our country.

The PN said that Malta’s membership of the EU was the end of one process and the beginning of another in which the country would strive to grasp new opportunities.

In fact, the PN said that Malta’s adoption of the euro as legal tender on 1 January 2008 was another opportunity. “Although there are some who are scared to take this next step, the PN believes that as soon as Malta becomes part of the eurozone, the economy will receive a boost,” a spokesman said.

The simple fact that Malta will “share” a currency with other countries will no doubt guarantee less bureaucracy, more stability and easier trade which will in turn translate into more investment and job opportunities, said the PN.

The PN conceded that the road to adopting the euro was not a simple one. “The government is taking various steps to ensure that Malta conforms with the Maastricht Treaty criteria because for the EU to give the go ahead to join the eurozone, a country needs a stable economy and stable finances,” the spokesman said.

This means that once the EU gives Malta the green light, it will be another good certificate of the country’s economic and financial state.

The PN said that through euro adoption, Malta would be more accessible to foreign investment which would in turn result in tangible benefits for the public.