From Mr E. J. Cachia

With reference to the article “Malta’s central bank staff complement 6.5 times EU” by David Lindsay (TMIS, 30 December), I would like to reassure readers that whereas the information about the staff complement is correct, the Central Bank of Malta employees’ workload more than justifies this increase in complement. The increase in the workload related to eurozone membership has been tremendous. To give just a few examples,Central Bank employees participate in almost 50 European Central Bank’s task-forces and working groups, not to mention the bank’s participation in other European Union and international institutions. Eurozone membership has brought about the need for new skills, the mastering of new software and participation in various European systems such as Target 2 and SEPA. Apart from this, one has to mention the monumental task of collecting all the Maltese money in circulation and and replacing it with the new euro currency.

Central Bank of Malta employees who worked at the European Central Bank in Frankfurt were praised for their commitment, expertise, professionalism and work ethic. The comments given by the President of the European Central Bank about the professionalism shown by the Central Bank of Malta employees speak for themselves.

Emmanuel J. Cachia

International Secretary

Union Haddiema Bank Centrali