Staying calm

The international financial crisis and illegal migration in the Mediterranean dominated talks in Valletta on Friday between visiting Greek Prime Minister Costas Karamanlis and Malta Premier Lawrence Gonzi, from the Athens News Agency

In statements after the meeting, both premiers underlined their concern over repercussions of the global financial crisis, stressing the need for a radical response on all levels by governments and financial institutions.

Karamanlis called for coordinated action by European Union countries, urging them to use all means at their disposal to deal with the crisis, and repeated that the Greek government has taken steps to guarantee deposits in Greek banks.

The Greek premier also sent a message to citizens in Greece, stressing that the government guarantees their entire savings deposits and emphasising that the government's goal was to reduce the impact of the crisis on households..

Karamanlis noted that the crisis had coincided with a rise in oil prices and raw materials and reported that the EU growth rate was falling while unemployment levels throughout Europe were rising.

At the same time, he pointed to a move by the European Central Bank to cut interest rates by half a percentage point and underlined that European citizens must stay calm and maintain their confidence in the financial system..

In terms of tackling illegal migration, Karamanlis reiterated his support for the Treaty against illegal migration and described this as "the first but not the last step" in building up the necessary common and coordinated approach to the problems by the European Union...