Finance Minister Tonio Fenech this afternoon said he was “disappointed” by Moody’s decision to downgrade Malta, which he described as unjustified.
He invited the credit rating agency to come and see for itself that the country should not be lumped with others through such an “unfortunate, blanket approach”.
“We are faring better than other countries so we should not be treated in the same way... We shouldn’t be thrown in the same basket when we acted differently,” he said, pointing out that Moody’s gave no specific reasons for Malta’s downgrade.
He said the agencies were being “overcautious” but Malta’s economic fabric was different to those of other countries in the region.
Moody’s, which operates from the US and took its decision after a tele-conference, could have lumped Malta with other countries purely because of its geographical position, Mr Fenech said.
But the problems in Italy and Greece have little direct impacts on Malta because the economy is much more dependent on countries like...
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