The Malta Independent 16 June 2024, Sunday
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Locked out

Alfred Sant MEP Monday, 15 March 2021, 09:08 Last update: about 4 years ago

There was no other alternative to the decision that was taken. The number of infections had increased so much in the past weeks that urgent and drastic action was needed to contain the damage. Otherwise, the prospect would have become imminent for the public health services to end up totally overwhelmed – which it was declared publicly, had been on the verge of happening.

Despite the discouragement and indeed the depression felt by many people, there are no margins left for hesitation or slackness. It is not a problem that only we are facing, but others as well, in Europe and beyond. When we believed we had arrived at the end of the Covid-19 campaign, the pandemic “succeeded” in marshalling its offensive... even if, as of now, there is no evidence to show that the vaccines will not finally lay it low.

Meanwhile, no ground should be allowed for further mistakes, such as by way of letting those who just do not observe the rules, get away with it. Whoever – no matter who, is not prepared to observe all the rules that must be observed, must be obligated, without fear or favour or any other indulgence, to assume the full responsibility for what he/she does. 

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The Construction Industry 

The construction industry is still considered as being in the best position to indicate how the country’s economy is doing, for better or for worse. It has retained such a role even though its relative size in the overall economy has declined. 

When construction picks up in a big way, all consider this as a signal of confidence in the future – which in itself generates more investment in building, but not only. 

The negative side to this is that in order for confidence to grow further, policy makers allow the construction industry to expand no matter how – and at present, the resulting consequences have become quite significant. 

Again, this does not affect Malta only. Yet, there are those who say that what should interest us is what happens in our own space, without regard to what happens elsewhere. Their claims are justified. 

There is no doubt at all that it has become a national urgency to place the construction industry within a framewordk of regulatory discipline that is meaningful, robust and transparent. 

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The European Semester 

It sounds like some academic project, suitable for a University seminar. 

The so-called European semester has become an essential tool in the governance of Europe as a procedure by which in the European Union, the Commission examines the economies of member states and gives instructions regarding how to manage them better. 

The approach is increasinbly becoming subject to criticism. 

It developed following the 2008-2010 financial crisis which rocked the foundations of the eurozone. Guidelines were registered which member states had to follow when preparing their annual budgets. For quite a number of situations, this triggered stringent austerity policies that created hardship for many many people. 

Now, the criticism also is that apart from causing hardship, the semester process has not been successful in rendering European economies more competitive and effective. 

Moves to change the basis on which the European semester is laid out are building up, and not just from the centre-left.

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