The recent market shenanigans of the Ghanaian-born, London-based rogue trader that rocked UBS to its very foundations, setting it back by more than $2Bn, has now cost the Swiss merchant bank’s head, well, his head.

Taking full responsibility for the trader’s misconduct, the Zurich-based CEO resigned his post acknowledging that that’s where the Buck stops, all $2.3Bn of it.

His decapitation (of course) brings to mind Malta’s VAT scam, with the Department’s two head honchos singing from a very different hymn sheet as they unashamedly absolved themselves of all obligations in defending the indefensible.

Now, nine months into the Arriva debacle (they’ve been here since January) brought about by Transport Malta, two other head honchos have this time gone into hiding seeking immunity and impunity that only their privileged positions can afford.

As every Maltese knows, the Island’s political and administrative leaders are endowed with having their heads squarely set on their shoulders making it almost impossible for it to roll.

So, Dr Sant, do you see now why yours was a forlorn hope of ever making Malta a Switzerland in the Mediterranean?

Joe Genovese

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