Prime Minister Joseph Muscat has said that if the Egrant magisterial inquiry finds that he is in the wrong, then he would feel the need to step down.

Speaking about the magisterial inquiry on a programme on One News this morning, Dr Muscat said that his "mind is at a peace" about the situation, however, if the inquiry shows he is in the wrong, then he would feel the need to assume political responsibility and step aside.

Dr Muscat launched a magisterial inquiry after it was revealed that his wife was the ultimate beneficial owner of a company in Panama, similar to the one set up by OPM chief of staff Keith Schembri and No Portfolio Minister Konrad Mizzi. Dr Muscat is refusing the allegations.

"Many people ask me, 'but what if something comes up about you in the magisterial inquiry?' If something is found from the inquiry, then my place will not be here," he said, "I would need to leave."

He suggested that if the inquiry finds that he is not in the wrong then Leader of the Opposition Simon Busuttil should think likewise. "I have made my choice regarding what I would do, how he will respond is up to him," he said.

Two weeks ago, Dr Muscat called for a magisterial inquiry following allegations made by journalist Daphne Caruana Galizia that the mysterious Egrant company set up in Panama is or was owned by the Prime Minister's wife Michelle Muscat, an allegation rejected by the Prime Minister. Magistrate Aaron Bugeja is leading the inquiry.

"My work is not to defend myself," he added, "but to defend the places of work and the country's economic rhythm." 

PN reaction

In a statement, the Nationalist Party reacted saying that Muscat's dialogue this morning showed that he is not only experiencing instability himself, but is also pulling the country along into it. "This instability is being spoken about by both employers and works alike," the press release said, giving the example that "this morning, on Workers' Day, he only took to Labour media in order to defend himself in this crisis that he finds himself in."

It said that Labour supporters who had the best interests of the Labour Party at heart felt betrayed by Muscat. It continued to quote the resignation letter by  former Labour whip Godfrey Farrugia who wrote, "the faith of the people in a historical Labour ideal should have never been betrayed and used in order to push the agenda of a few forward, which has clearly shown us that they do not have the national interest at heart or minds."