The Pilatus Bank story

If you want to play on the international scene, you cannot be so petty. When one looks at the arguments that police and prosecution are bringing up in court against Pilatus Bank, one can only reach this conclusion. It is clear that the media is being fed what to say on this issue. The problem here is that Malta is giving the impression that it is very petty and unprepared in the way it conducts investigations in financial matters.

If one thinks that with this sort of investigation, Government is going to be off the grey list, it is mistaken. The impression that we are getting is one where the Prime Minister is trying to please Jason Azzopardi and his clique. Robert Abela seems to be only interested in giving them more power. It is not clear whether the prime minister is doing so because he is afraid of Azzopardi or else he is weak.

The fact remains that the prime minister is a lawyer and the legal community in Malta is highly incestuous.

Malta has always traded heavily and had banks, which were honest and knew how to deal with every situation. The basics behind trading and commerce always boil down to that of making a profit. Unlike what is normally taught today in history, Malta in the sixties and seventies had a high type of investments from companies employing hundreds consisting of both foreign and local investments. There was Chatillon, Bortex, Malta Synthetics, and others. The truth is that semi-skilled and skilled workers were lost due to politics. Now we are risking to lose our banking integrity due to the manipulation and interference of politicians and their cronies.

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