The leading role that the market in buildings and lands plays in the island’s economy was again highlighted these past months by the controversies that new projects gave rise to, and the legal tangle of inquiries and procedures in the courts regarding the monitoring of new construction. Meanwhile, some continue to rely for guidance on the monthly statistics that get published about sales, purchases and promises of sales/purchases.
Yet the monthly data can hardly give a sense for what could be really happening. Market trends can best be determined on the basis of results that cover a span of months not just one or two. But it is obvious where the concern of those who follow the sector comes from.
If supply gets tight in the building sector, the value of properties will increase. However, if a way by which to nudge the supply upwards can be found, business turnover will grow. Still everybody knows that the supply of land locally is not infinite. One and all are afraid that we could be coming too close to the end of what can be traded as a worthwhile property, short of a slum. Which is why the construction and property data continues to be so widely scrutinised.
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FRANCE AND GERMANY
Agreement between France and Germany is essential for new European projects to fly. More than once it has happened that the two countries agree on a concept for some new initiative but then find it difficult to agree about how to implement it. Till they eventually reach a modus vivendi, the other EU member states have to stand and wait.
There are some indications that this might be happening regarding the implementation of the defence union project. The French want to speed it up. The Germans are more prudent.
Meanwhile, France is now in second place at the top of the world league of arms and munitions exporters.
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EUROPEAN ISSUES
All too often it has been noted how one big problem in European elections is to rouse sufficient enthusiasm among voters such that they actually go out and vote. This apathy is not without explanation.
Of their very nature, the European issues that come up for debate and decision in the European Parliament are bound to be perceived by ordinary citizens as distant from their everyday concerns. Frequently it is difficult to provoke any kind of controversy in their regard, even if eventually they do end up having a big impact on the lives of people in all communities, Malta included.
One approach has been for election campaigns to remain focussed (as has happened practically always up to now) on national issues. People are led to go and vote on this basis.
I do not like at all this solution, if it can be called one. European elections provide the only opportunity for electorates to come face to face with European affairs. Not to take up this opportunity seems to be a mistake that goes against the vital interests of people.They need to know what exactly they are voting for, independently of whether they are willing or not to trust blindly this or that party.