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by Yolande Spiteri on 10/09/2008
The cutting of the European Central Bank's interest rates will not affect the Maltese financial institutions, said Finance Minister Tonio Fenech.
In spite of the fact that the world is suffering the worst financial crisis since the great depression, no Maltese institutions will be facing liquidity problems. Maltese banks are highly liquid and highly capitalised and they are well above the 30 per cent minimum liquidity." Fenech confirmed.
At a meeting in Luxemburg on Tuesday , EU Finance Ministers agreed to take common measures to counter the prevailing financial crisis which is affecting everybody worldwide.
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