Malta stalls EFSF ratification

Malta's former Labour Prime Minister Alfred Sant stalled his country''s ratification of the urgently needed European Financial Stability Facility. A parliamentary sitting to approve Malta''s loan facility to Greece had to be adjourned at 1 am and postponed for continuation on Monday, after finance minister Tonio Fenech said he would be consulting a legal team to ensure that all amendments in the bill were "clear" and that all Malta''s financial obligations were known, according to Maltatoday newspaper. The debate will continue next Monday with a view for a final vote on the same night. The delay in parliament’s approval comes as an embarrassment to government, as eyes are set on Malta as one of the last few countries within the Eurozone to ratify the urgent increase in the fund which is intended to bailout Greece.