Recommendations made by the European Commission regarding Malta’s economic management are interesting. They relate to how the economic structure we now have generates enough investment or less than enough; as well as to whether we are succeeding in cultivating within our people, the technical and other skills necessary for the economy to continue growing at a rapid rate.
An economy based on the provision of services, as ours has become, carries less investment-inducing centres of economic activity, since in and of themselves, services need less material infrastructure than other sectors in order to operate optimally. Which means that in a services economy, investment openings in “material” projects tends to diminish.
To compensate for this, an effective expenditure is required... or better an efficient investment ... in education and the training of personnel. After all, it will be people’s ability and knowledge which will create wealth in the services sector.
The analysis carried out by the Commission of the edcuation and training that is being provided here points to some serious deficiencies. Instead of ignoring such criticism, perhaps it would be better if we consider how to take it into proper account by creating new facts.
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Air Malta
The spread of a certain malaise about the future of Air Malta was inevitable. We've come to the end of the process intended to "save" the airline. It had long been said that the required solution was one which allowed new interests, already disposing of another airline, to buy into the company. They would thus be in a position to open up new perspectives for Air Malta.
For a while, Etihad would frequently be mentioned in this context. Now, a preliminiary agreement has been initailled with Alitalia, into which Etihad has largely bought.
If the agreement is implemented, Air Malta’s ways of operation will undergo a radical change. This would happen no matter who bought into the company. Additionally, there will be a further reduction of staff, which would need to be managed fairly.
Moreover, the fear and suspicion will persist that even what will now be carried out, with all the accompanying sacrifices, will not suffice.
Air Malta is entering the most delicate phase ever of its history.
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Austria
Little over 30,000 votes lie between the winner of Ausria’s presidential election, a veteran environmentalist, and the loser, a middle aged politician from the extreme right.
Though in political terms, the shock was considerable, the expectation that an outcome of the sort was pending, had long been on the cards. In a short while, an extreme right candidate in “Western” Europe could end up winning outright a democratic election: that is the fear.
Were this to happen, I would not be surprised. In recent years, mainstream parties on the left and the right, have failed to address in a comprehensible way, the challenges and problems being experienced by their voters. Faced with the latter’s increasing sense of disquiet, they continued to parrot old political litanies. They failed to understand, or pretended not to, that nobody wanted to believe any more in these mantras.