The PN has said that the news of Malta's removal from the grey list 'is positive'.

"With this news comes the onus of maintaining standards, building further robust control mechanisms and heightening our collective vigilance. We cannot afford to let our guard down. Everyone, including the cabinet of ministers, is painfully aware of how government's lax governance structure negatively impacted the country's potential and cast a long shadow on us."

"We need to learn from this sad experience brought about by serious shortcomings in Malta's governance system. The opposition will continue to shine a bright spotlight on good financial governance," the PN said.

"This positive news now needs to be followed up by a clear vision of maintaining robust controls whilst at the same time making Malta once again a reputable jurisdiction of choice able to compete with all others."

"It would be a shame to stop at being removed from the greylist and not following up with the ambitious target of once again being amongst the best."

The statement was signed by PN MP Jerome Caruana Cilia