They remind me of Rip van Winkle, the character created by American author Washington Irving, who dropped into a long sleep that lasted years while walking through a forest. On waking up and going back home, he was amazed to find that everything he was familiar with was no longer there. Some people seem to be realizing, only now, how the Maltese economy has altered the trajectory of its development from one based on industrial activity to one that relies on services with rather fragile foundations.
Since Malta became a full member of the EU, industry has greatly reduced its share of economic activity (the same applies to agriculture). Given the EU rules that entered into force, this was inevitable.
By way of compensation, financial services grew enormously, even though they were tarred with the allegation that their main task was to help companies and rich people avoid having to pay their tax dues. Similarly, internet gaming activities multiplied, even though quite a number of countries, plus the European Commission, consider them with disfavour. The two sectors are under pressure due to international initiatives designed to curb what they do.
Those who at the time, issued warnings about these developments, which all took off under Nationalist administrations, were either ignored or ridiculed. Now that some people have at last noticed what is going on, they even seem minded to pin the blame on the Labour administration!
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THE OPPOSITION LEADER’S CRITICISM
Through direct experience, I know well how one of the aims of any Opposition Leader has to be that of riding any available opportunity to criticise the government of the day. He/she has the duty to do so with a sustained drive.
Yet, such drive has to be kept within certain limits: it should not be allowed to harm the interests of the country as a whole.
From this perspective, it seems to me that the public letter sent by the current Leader of the Opposition to the group of countries and authorities (FATF) which evaluates claims about the lax financial management of this or that jurisdiction, went well beyond all reasonable limits. FATF was debating whether Malta’s administration of its financial systems has been too permissive. The conclusions that the group had to reach were of crucial importance to the Maltese economy.
The letter sent by the Opposition Leader was shameful. It should never have been sent.
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DAVID COPPERFIELD
Some books... or better, some characters in certain novels... are unforgettable. As for me, and for reasons which I never understood, there come days when I find that persistently I’m thinking over one or other of these memorable characters.
Recently, a remembrance of David Copperfield who features in the novel of the same name by Charles Dickens, surfaced to play this game. The novel tells the story in first person of Copperfield’s life, from when he was a boy to adulthood, approaching old age. Copperfield is no genius, his life is rather “normal”, including the melodramatic episodes that he went through, as we all do.
Although quite long, the novel makes for an easy read -- at least that was how it seemed on two occasions. Perhaps, if I can find when, the time has come for a third read.