IFS-Malta delegation on EU visit to Frankfurt, Brussels

A delegation from the Malta Institute of Financial Services (IFS-Malta), comprising Peter Calleya, Simon Grech and Peter Sant, have returned from a visit to the European Central Bank (ECB) in Frankfurt, and the EU Commission and related organisations in Brussels.

The main purpose of this comprehensive EU visit was to obtain a better understanding of the implications for the local financial services sector operating in a single European financial services market and how IFS-Malta can actively participate in this.

Topics discussed during the meetings included EU Economic and Monetary Policy, participation in ERM-II, the future of EMU and Malta's adoption of the euro, the Financial Services Action Plan, the taxation on savings directive, SME financing, consumer credit, and the completion of the internal market.

Other areas that were also delved into were lifelong learning and professional training, continuous professional development, and EU information sources.

Most of the other meetings consisted of the industry view on the main topics discussed and in attaining a better understanding of the lobbying process, which takes place within the EU.

Arrangements for the visit to the ECB were made by the Central Bank of Malta, and Dr Leonard Mizzi of the Malta Business Bureau co-ordinated the scheduled meetings in Brussels.

Participation was made possible with financial assistance from the OPM's Planning and Priorities Co-ordination Directorate. Overall, this official visit was a worthwhile experience as it enabled the IFS-Malta delegation to obtain better knowledge of the EU and attain invaluable first-hand information about issues relating to financial services.