Finance Minister Edward Scicluna has stated that he does not believe that the world is on the verge of another international financial crisis.
However, he warned that the combination of all the current international tensions and pressures did not bode well for the future.
Speaking on a panel during a plenary session titled ‘10 Years After the International Financial Crisis: Is the Next One Looming?’, as part of the annual Atlantic Dialogues held in Marrakech, Prof. Scicluna said that there were dark clouds ahead today which may lead to economic downturns in some parts of the globe.
"But it would be far-fetched to expect that they will all come together and form another perfect storm in the years ahead," he remarked.
During the panel discussion, Minister Scicluna discussed the EU’s take on the lessons learnt from the international financial crisis, as well as topics currently being deliberated to prevent another crisis of that magnitude.
This was the seventh edition of the Atlantic Dialogues, a high-level conference that has become a tradition since its launch in 2012, by its founding partners the German Marshall Fund of the United States, and the OCP Policy Centre in Morocco.
This annual conference convenes influential public and private sector leaders from around the Atlantic basin for open, informal discussion on cross-regional issues. The event encourages an interactive exchange of views between young professionals and today’s leaders. This year’s theme was that of ‘Overcoming the Choke Points’.
Other key speakers included Madeline Albright, former US Secretary of State, Zeinab Badawi, presenter of BBC Hard Talk programme, Uri Dadush, past President of the Economic Intelligence Unit, and Amre Moussa, past Secretary General of the League of Arab States.