Since the Panama Papers scandal, honest citizens across the globe yearn for change. They want to get rid of the old politics but the same old networks are still in place. The same old people are sharing the same shady tax lawyers and following their investment advice. Those in power who promise good governance before each and every election, who set the rules when in government, still aren’t willing, or able, to follow them.

Let’s take Iceland as an example. Iceland is the most peaceful country in the world. This is a country where violent crime is rare. The people are not used to seeing themselves grouped with the most corrupt governments in the world. Yet, their country was at the centre of every article about the Panama Papers. And so was Malta.

Iceland’s prime minister had to resign after it came to light that his wife owned a shell company incorporated in a tax haven. Like our Maltese prime minister, he probably hoped the scandal would blow over in a couple of weeks. But Iceland’s prime minister was not so lucky. Icelanders might forgive sexual experimentation, but ever since the devastating bank collapse in 2008, they now have zero tolerance for shady financial dealings.

When the Panama scandal erupted, thousands of protesters filled the square outside Parliament, calling for resignations and new elections, hurling eggs at the building and shouting abuse. In Malta we did the same, but while in Iceland the prime minister resigned, here in Malta it was business as usual! There is no evidence that Malta’s partners in this offshore investment included anything illegal. That’s not why people are angry. They’re angry because they thought they had put news like this behind them.

In Iceland’s case, it has been only eight years since their economy collapsed and their country was nearly bankrupt. The people were then forced to face uncomfortable truths about officials’ involvement in the failed banking sector...

Trust in our government has dwindled and somehow it has to be slowly and painstakingly rebuilt. This method of sneakily shipping money from our small island to another small island, halfway around the world, to save a little bit of tax has to stop. For an ordinary citizen, this method might look like a bad idea; for a politician it certainly looks like corruption.  It ridicules the fundamental Maltese expectation that all people are equal.

 

Jos Edmond Zarb

Birkirkara