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Malta Expecting Financing Details From EU By The End Of The Week

by Robert Lee, Tax-News.com, London

20 November 2002

Speaking to the Times of Malta following the conclusion of a General Affairs Council meeting in Brussels earlier this week, Maltese Foreign Minister, Joe Borg revealed that the country has been promised a 'comprehensive package' by the European Union.

On Monday, Mr Borg told the Times that Malta had made its case for a good financial package, and is expecting the EU to announce details by the end of this week of a 'substantially higher sum of financing' compared to the contribution that the jurisdiction will make to the EU when it becomes a member.

According to Dr Borg, once the package is announced, the Maltese government will have until December 2 to give its response.

'Even though they are asking for our reactions, they are expecting us to do so within certain parameters,' the Foreign Minister explained to the Maltese newspaper, although he admitted that no details of the financing package have yet been released by the European Union.

Speaking with regard to the likely enlargement date, Dr Borg suggested that May 1, 2004 was a strong possibility.

'We have no problem with this date, provided we will be eligible to take part in the European Parliament elections,' he concluded.

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