The Economic and Monetary Affairs Committee has approved, with a large majority, a resolution moved by Labour MEP Joseph Muscat for the changeover process to the euro to be conducted with the utmost transparency and for the public to have access to the relevant information.

Another proposal also moved by Mr Muscat calls for all government authorities who are planning to introduce the euro in the coming years to adopt a transparent approach when taking decisions. This motion was also approved with a large majority.

Labour Deputy Leader for Parliamentary Affairs Charles Mangion said that the amendments approved by the EP committee show that Labour’s request for transparency is at the same level as is European policy. He said that the euro should be adopted when the country’s economy is on the right track so as to ensure that there would be no vulnerable sectors of society that would suffer.

The report is expected to be discussed in a forthcoming plenary session of the EP.