Double Dip in Mediocrity

The Times of Malta



The Drydocks cannot afford to lose work on navy ships if it is to remain viable`. This stark declaration by the Minister responsible for the Drydocks comes from the same government that pretends that as members of the EU we can use our veto to protect our neutrality and sovereignty as the EU continues to evolve into a central political project.

If incompetent economic management has rendered it economically imperative for Malta to interpret imaginatively the constitution`s neutrality provisions and accept military repair work for its shipyards, how can anyone take seriously the claim that we would be able to defend our sovereignty in the context of membership`

I reluctantly agree that Drydocks should accept military work for as long as it is a burden on our exchequer. A prostitute can hardly refuse to perform for as long as it depends on its pimp for its daily bread. But I equally look forward to serious economic management including a re-structured Drydocks which becomes economically viable and which would respect the true spirit and letter of the constitution.

What a shame that this country has economically been forced on its knees unable to refuse to prostitute itself politically. And all this for a mere one or two million liri from contracts similar to the La Salle.

Compare this to the economically irresponsible way the government privatised Mid-Med Bank. Only last week the Czech Republic concluded a bidding process for privatisation of the its third largest bank, Komercni Banka. Societe` Generale of France outbid Unicredito Italiano in the final phase.` It paid 3.2 times the book value.` Compare this to the 1.53 times the book value which the government got for Malta`s largest Bank without undertaking a bidding process.`

This is a further proof that Mid-Med bank was sold at half price and Malta lost some Lm70 million in the process.` This is equivalent to some Lm5 million a year in additional interest charges. Not even three La Salle`s each year would be enough to make up for this annual loss.` Sometimes I suspect that this is all part of a devious plan to bring the country on its knees to force it to divest its sovereignty.

And to add insult to injury the Prime Minister tries to take a double dip in mediocrity by bringing to parliament a motion to approve that Drydocks can take more military contracts irrespective of the provisions of the constitution. Parliament is being asked to approve that the prostitute has to continue abiding by the will of its pimp.

Malta`s economy is jamming to a halt. Investment has run dry, exports are falling flat, tourism has lost its growth trail, cash flow is just not flowing, profitability has disappeared in most economic sectors, reduced demand has developed into serious over-capacity, our infrastructure is exposing serious bottlenecks, government finances are getting worse in spite of extracting more taxes from the private sector. In spite of these serious problems the government gives priority to debating a divisive issue in parliament meant to insult the prostitute for being forced to practice its unsavoury profession. Why not debate the waste mountain we are being buried under Why not debate that in peak summer we cannot enjoy our once clear now polluted sea.

It is clear that government is seeking short term political gains at the expense of the real needs of the country. Last week this mediocrity was crowned with new heights. The transitory seven year concession for limited control over the influx of foreign workers was depicted as a great political achievement. And it could well be so if measured by the standards of those willing to dissolve our national sovereignty into the EU political project.

But for those of us who proudly want to` keep options open rather than force our country into the straight-jacket of EU membership as quickly as possible whatever the cost or the consequences, it is a` humiliation seeing our leaders being jubilant for getting a temporary respite to continue doing, in part,` what we have been doing by the sovereign decision of our parliament.

Whilst my heart bleeds seeing Malta subjected to a double dip in mediocrity I reserve jubilation for when we can negotiate an agreement with the EU meant to suit our reality and which would help us address the lethargy with which the real issues which effect our everyday life are being neglected by this non-government.

Alfred Mifsud