Fabian Demicoli

GRTU meets MEP Dr Alfred Sant


GRTU President, Deputy President and CEO have this week met
Dr Alfred Sant, who was recently elected as a Maltese MEP. Dr Sant gave an
overview of what Committees and working groups he is involved in and stated
that he wants to represent Malta's interest on the EP.

He in fact specified
that the most important item he is seeing on the Agenda is the Banking Union
where he expressed his concern on the very bureaucratic procedures the banks
will be required to go through in line with the EU planned intensive
surveillance. Dr Sant said that this would result in a significant cost for the
banks which they will pass on to their clients. GRTU President Paul Abela also
expressed his concerns in this regard saying that SMEs cannot sustain any more
costs from the banks and that acquiring funds is already amongst the costliest
in the EU.

GRTU also argued that the Maltese banks say that
Malta's banking system is very particular and therefore the banks should have
carried out an independent assessment of how it will affect their model.

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