Malta wants to join Eurozone in 2005, despite high deficit

The high budget deficits of Malta, Hungary, Poland and Czech Republic, have raised concerns among the EU finance and economic ministers. The Czech Republic was singled out for not even trying to reduce it. Despite this, the Maltese Finance Minister John Dalli, expressed his optimism that Malta will be able to meet the necessary economic criteria to join the eurozone in 2005.

Malta has a current budget deficit of 3.1 per cent of GDP, the Czech Republic's deficit, 5.5 per cent, compared w...