The Malta Independent 5 August 2020, Wednesday

Book On Malta and the euro by Alfred Sant

Malta Independent Friday, 6 January 2012, 00:00 Last update: about 8 years ago

What gave rise to the euro crisis? How will it affect us? As the months passed, people in Malta who had been tempted to ignore the crisis increasingly became concerned. They began to understand that as Malta’s currency, the euro has an impact on the life of all, their families, and their jobs. Suddenly there arose a flush of queries. What’s going to happen to the euro?

You can only reply to this question if you know what has happened up to now in those countries which adopted the euro as their currency. A book that is being published shortly, Malta u l-ewro/& the euro records this information.

How did the euro take off? What were the aims of its sponsors? How did Malta come to introduce the euro? What were the problems which faced Malta and other European countries because of the euro? What triggered the crises in Greece, Ireland, Portugal and other countries in the eurozone which got infected with a contagion that seems to still be alive?

Written by Alfred Sant, the book analyses these questions in a language that each one of us understands, let alone bankers. The book covers political, economic and social aspects, while giving an overview of most countries involved in the euro crisis, and relates them to the Maltese situation. This is done objectively and critically. The focus is on events as they happened, month by month, up to December 2011.

Dr Sant has been closely following European issues since 1970, more than 40 years ago, when he was a diplomat at the Maltese embassy to the European Union in Brussels. Since then, well before many Maltese had understood that the European Union could have such an important influence on their lives, he has monitored developments in Europe, especially those which led to the birth of the euro. No one else in Malta has this long-term experience. Even people who disagree with what Alfred Sant thinks or believes concerning Europe, admit that he is one of Malta’s leading experts on the subject. Very frequently, what he predicts about Europe’s future has happened.

Malta u l-ewro/& the euro should attract special attention as the first book to deal with the euro crisis at a time when many Maltese families are at a loss. They understand that the euro is now the national currency. They are happy with the euro when they have to travel or buy stuff over the internet. But this same euro has created big trouble in Greece, Portugal, Ireland, Spain and Italy. How is the euro crisis going to affect the Maltese people, their pensions, their bank accounts and their jobs?

Beyond partisan propaganda, Malta u l-ewro/& the euro provides the information that is necessary for people to understand what is happening and how events may shape their lives.

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