In the early hours of Friday morning, European Union leaders agreed to create a strategic €315bn fund to kick-start growth within the plot.

It is understood that Malta has submitted five applications for funding – the most grandiose of which is a two line monorail that would connect the islands. This newspaper had already reported that the cost of this could be up to about €1.4bn. Speaking about the proposals in Brussels, Prime Minister Joseph Muscat acknowledges that the project would be a long one and could not be completed in three years, but added that the government could still get started on it.

The PM said that the monorail idea was submitted for evaluation by the European Commission. He acknowledged that the monorail project might not be financially viable, which is why the private sector and the government would have to work on it, with the possibility of tapping into EU funds. Many have proposed the idea of tram lines or an underground system, but it seems that this is the preferred option of the government. It is become abundantly clearer by the day that Malta needs some form of efficient mass transport system to counter the ever busier roads which are not only affecting our collective sanity, but also our economy.

Another project put forward by the Government to the European Commission is that of a breakwater for Marsamxett Harbour. This one, he said, was the one that seemed to have stimulated most interest in Europe as it fit the bill. Dr Muscat said that placing a breakwater in Marsamxett would allow for the placement of more yacht berths. This, he said, would increase income in more than one way, including fees, the spin-off of wealth, the creation of jobs and increasing the value of property in the surrounding area.

The third project is one that the government has already said it wants to go ahead with and that is the creation of a runway not longer than 900 metres in Gozo. While many are angry because they believe that Gozo will never be the same as a result, most of the residents there believe that it will allow for stimulus of the island’s economy, mostly due to direct tourism. Two other projects which were put forward include new infrastructure for the purchasing and distribution of medicine and a Centre for Social Inclusion catering for 100 persons with disability.

All in all, it is quite a lot for the Commission to mull over. The first three projects are all viable and would have a direct and positive impact on Malta and Gozo’s economy. It is now up to the EU to see which it believes might be beneficial to Malta and Europe as a whole.