Malta’s euro vision

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fDi Editor | 08/12/2003 12:00 am

Malta will be one of 10 states joining the EU next year. Michael Imeson reports on preparation in the financial sector, and the consequences that membership will bring.

Malta suffered a resounding defeat in the Eurovision song contest in

May, coming second from bottom. Only the UK did worse, with “nil

points”. The two nations, which have ties stretching back centuries,

took it on the chin and treated the international humiliation as a

joke. The voting that really mattered to Malta took place earlier in

the year.

In February, 54% of Maltese voted in a referendum to join the European

Union (EU) next year. In April, the vote was endorsed at a general

election in which the pro-EU centre-right Nationalist Party polled 52%

of the vote to beat the anti-EU centre-left Labour Party with 48%.

Having won independence from the UK in 1964, it is about to hand over a

large part of its economic and political sovereignty to Brussels.

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