The government, reacting to Mr Vella’s news conference, accused the opposition of wanting to harm the economy.

It said that EU statistics show that the financial situation in Malta is on a sound basis, but the opposition continued to sow doubt. This is an irresponsible attitude and cannot be clearer proof that the opposition is so hungry for power that it does not mind speaking in a way that it scares away investment and harms employment.

The government said the country is in a sound financial position, helping it avoid austerity measures other EU countries had had to take. During the financial crisis, the opposition proposed populist measures but the government was prudent and invested in critical sectors, such as tourism and manufacture. That led to economic expansion and the creation of over 6,000 jobs, and a drop in unemployment to lead today to one of the lowest rates of unemployment in the EU.

The European Commission earlier this year concluded that Malta had taken the necessary actions to correct the excessive deficit situation as laid down by the Council of Ministers.

The opposition shows it does not know what is happening in Greece. All loans to Greece will not be made at subsidised rates of interest, meaning there will be no burden on taxpayers. The government said the government’s expenditure and debt will not be affected by this aid. Any debts eurozone countries entered into to help Greece will not be considered as an addition to national debt in relation to the Stability and Growth Treaty.

Aid to Greece is necessary for the sake of eurozone stability. The opposition’s opportunism was such that in parliament it agreed with the government’s position on Greece but yesterday it started a negative campaign to sow doubts about this aid, the government charged.