Central Bank Governor Josef Bonnici has dismissed as “misleading” any comparison between Malta’s banking system and that of Cyprus.
Prof. Bonnici was reacting to comments in the international press that questioned whether the banking sectors in Malta and Luxembourg were next in line to face the chop because of their huge size relative to the countries’ economies.
The Times of Malta carried an entire article on this issue on the 27 March which can be read by clicking here. In the same issue of the newspaper, the Chief Officer Risk at one of the main Maltese banks, Bank of Valletta, also commented on the difference between the Maltese and the Cypriot banking scenarios. His article can be read here.