The recent announcement that Gasol has dropped out of the new power station project is seriously worrying. According to its own financial statements, it was recently 'delisted from the London Stock Exchange' and it may be finding it hard to raise funds for its present projects let alone new ones.
In these circumstances, our government reaction was most surprising and quite abnormal. Instead of ensuring that our interests - cheap energy production and our national finances - are ensured, our liberal government actually chose to guarantee €88 million of the private consortium's €108 million loan from Bank of Valletta! Like the EU's handling of the failed "euro project" and the billions of our euro that it chooses to throw in the money pit of its own making, our government seems to have preferred gambling heavily with our own money rather than simply risk losing any more face on the power station project.
Let us hope that this irresponsible gamble does not come home to roost as, very much like Greece, we would find ourselves in very deep trouble indeed.
At this stage, one should therefore read most carefully the government's reaction of, "positively 'welcoming the consolidation of the Electrogas Malta Consortium and the ongoing and now increased commitment shown by Siemens, Socar Trading SA and Gem Holdings Ltd", as well as the Opposition's "increased worries we told you so" statements over the past few weeks. It seems that they knew much more than we did in this regard and a softly-softly approach was chosen hoping that much worry about the real picture might be avoided.
Regardless of political allegiance, right now the people should be asking a very serious question: with such an irresponsible and previously unheard of/illogical guarantees to the private sector and on such a scale by our cavalier representatives, has this literal "gamble" by our government with our own assets placed Bank of Valletta's future (and therefore many other Maltese institutions) in any serious jeopardy?
What will happen to the bank and our economy if this guarantee is actually called?
And if this was not bad in itself, we are all aware of the ongoing state of affairs in Libya - Malta's neighbour and one which affects us most directly in many ways. It is well known by now that Alleanza Bidla is most unhappy with the way our progressive liberal government has been handling our foreign policy, as well as our own security and stability which have all worsened considerably over the last year.
Since last December, we have steadily and openly accused it of breaking our Constitution by taking sides, and not working actively (directly) for peace even though it is obliged to do so and was asked to do so officially on several occasions. The UN opened its doors to all warring parties wishing to participate in the Libyan peace talks. It welcomed them, was willing to talk, listen and involve all sides of the war. Politicians and militia alike even those of most dubious character and action took part in the process. Those who chose not to participate will not be involved in the next single, strong Libyan government. This was quite correct by UN standards. Dialogue and compromise are, after all, the only way that will bring about a lasting peace.
Inversely, our government chose to take sides and refused to talk to "the other side of a war". This shameful action ensured that peace is not achieved as fast as possible.
Even worse and against present international law, national law and the will of the Maltese people, it actually chose to take part in an EU military campaign which will solve nothing and only bring further instability to Malta and our region. This shameful action will strengthen ISIS in Libya!
As we see ISIS gaining a stronger foothold in Libya because of the country's instability, yet again we see this government taking huge gambles with our future rather than risking losing face and doing the right thing for Malta.
What is driving the progressive liberals to refuse to do the right thing and choose a completely wrong path for Malta?
Could the rumours that it cannot conduct a policy of neutrality and actively seek peace (exactly like the UN is doing) because the PL has received some form of funding or support from ex-Gaddafi elements on one side of the war be true? Although it would explain the resistance shown throughout to 'do the right thing', I sincerely hope it is not the case as this would mean that party interest are being put before national interest, security and stability.
There is, nevertheless, some good news with regard to Libya. In spite of our government's wrong and most harmful direction, peace talks under the United Nations have been proceeding nicely!
I am told that most nations sent some form of ambassador to follow procedures and to 'lobby' for future work by talking to the right people at this crucial time. Malta sent no one and our absence of course is transmitting more bad vibes to our Libyan counterparts.
The final signatories of this part of the peace talks should happen early next week, when the final stage will commence. Again, countries have been openly congratulating the participants on this momentous achievement. Malta's official total silence in this regard is not only highly embarrassing. It is even more deafening.
On the other hand Alleanza Bidla has been quietly working away and we are very proud that we have been trusted enough to see certain documents and asked for our opinion on several issues that cropped up. We wish to formally congratulate those taking part from all sides and putting their country first, in particular the mayor of Tripoli,
Mahdi al-Harati was publicly praised by Leon himself for being the first to sign the document and persuading many others to follow. I have met this humble and quiet man and discussed key issues on present as well as future issues. He truly took great personal risk on many occasions and shows real patriotism and love for his country and its people.
The state of the Libyan peace talks is all great news for Malta. But the real good news seems to be that finally, that which we predicted last December is about to take place, it seems. The wish of the Libyans (since last January) for the final stage of the peace talks to be held in Malta might actually be happening after all and this government is about to be "persuaded" to finally move away from the wrong path it took and return to the one that Malta is destined for: that of building bridges of peace.
If this happens, it will happen in the coming weeks. If it happens, Alleanza Bidla will welcome this new position of our government. Of course, it will be most obvious to those who have followed the whole procedure that this state of affairs will be "forced" on our government. But as a nation, it will be a great day for Malta if the signing of the final Libyan peace talks be held right here. And we should all join in our wish to make this happen.
We have been advocating for many months that this day will come and that for this government, it is inevitable that it will have to talk to all sides officially.
It would be most wise and less embarrassing for the government, at this stage, to somehow acknowledge that it has been on the wrong path throughout. This way, at least, it might even get some form of credit for helping in the much needed peace process itself.
Mr Grech Mintoff is president of Alleanza Bidla