SME Chamber participated during a conference by the Malta Sustainability Forum organised by APS Bank
17 November 2022
The discussion focused on the Voluntary Occupational Retirement Pension SME Chamber Vice President, Michael Galea,...
Euro zone governments have bungled the way they are presenting their work on a future bailout mechanism, stoking tensions in financial markets, said Business Leaders in Europe. Last month's summit of EU leaders was a communication failure that spooked investors and must not be repeated when the bloc's leaders meet next in mid-December.
Financial markets were unsure what to make of the October summit's statement, which said very generally that private investors would be involved in the euro zone's future, permanent economic crisis mechanism for countries facing financial problems.
The current bailout mechanism, valid until 2013, does not involve any "haircuts", or asset value reductions, for holders of government bonds. But analysts said uncertainty over the crisis mechanism has prompted many investors to dump the bonds of fringe euro zone countries, exacerbating Ireland's economic problems and forcing it to seek EU aid.
Economists and political analysts have also been critical of how EU leaders and some officials have handled communications during the debt crisis, saying this ineptitude in some cases has worsened the situation. Germany's call in early November for asset value reductions for private bond holders in a future euro zone rescue mechanism prompted a selloff of Irish and Portuguese debt.
European leaders later said any implementation of such a mechanism would not come until 2013. But in a sign that the issue remains far from settled, Spanish economy minister Elana Salgado said that 2013 was too early to start involving private sector creditors in euro zone crisis mechanisms.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).