The Nationalist Party is €32 million in debt, Opposition Leader Bernard Grech announced on Sunday, while saying that he prefers being an authentic and honest leader rather than one who would laugh in people's faces.

Grech spoke during a general council meeting where the process to elect a PN leader was launched.

Grech insisted that he has always worked on being authentic, saying things as they are.

Grech urged everyone to use this time to reflect on what the Nationalist Party did wrong, what it could improve and what it could change.

"When I submitted my candidacy as party leader, I knew it was going to be a long and tough road, but what I did not know, was the urgency of taking a new path forward. The decisions we take together over the coming months will be important decisions that will determine the very existence of this party," Grech said.

He added that "if we do not make difficult and quick decisions, we will even risk our survival as a party."

Grech insisted that after being elected as party leader a year and a half ago, he promised complete honesty, saying that this is how he's acted and that's how it will remain.

"I will face reality and the truth head on, even if it's not easy or it might hurt, because I truly care about this party, and I am not interested in gaining any personal interests," Grech said.

He added that "we cannot afford any more division in a party that is already too far apart."

Briefly highlighting the problems that the Nationalist Party has, Grech noted that the problems go beyond management because the changes in leadership that have been made go to show that they did not have an effect, since the same result was acquired.

"We have a financial problem as the Nationalist Party has a debt of €32 million. However, despite the financial limitations, the PN still managed to run a strong election campaign."

"Every month we are also losing thousands of euros in our media company which, to this day, makes it unsustainable," Grech said.

He added that he wished he did not have to say such things but questioned: "What do you want, a leader who laughs in your face or a leader who tells you the truth?"

Grech highlighted that the reason as to why he is making such public announcements is because he wants to get rid of the fear of the truth.

"Despite all of this, there is hope that we will move forward and improve because this party has a large amount of assets that can make up for the debts that the party has," Grech said.

He urged the party to trust him once again as party leader, saying that he is more than ready to do what is necessary in the interest of the Nationalist Party as well as the nation.

"I am ready to discuss, take the necessary decisions in order to improve and move forward. This is a time when we need to be mature and find the strength to suppress sentimentality. This is a time for action and decisions, and a change in attitude is the most essential thing to do," Grech said.

He highlighted that the general election sent a strong message, calling for a better and stronger alternative to the Labour Party.

"With the help of a young and energetic parliamentary group, I am ready to make this change, but to do so I need a strong mandate because I believe that this is not the time for another upheaval," he said.

Meanwhile, President of the PN's General Council Mark Anthony Sammut opened the general council meeting by highlighting that this election will be conducted by the PN's Electoral Commission, chaired by Chairman Peter Fenech.

He explained that since this is an election for a party leader, in the coming days, the notice of the declaration of interest will be issued and the due diligence verification process will be carried out on all those who declare an interest. Following this, those who are verified will have the opportunity to cast their nomination, and the vote will be taken either in the general council or in the general convention, depending on the number of candidates contesting.

Grech is expected to be the sole contestant to retain the top post despite the Party's defeat in the March election.

In the case of one candidate coming forward, the vote will be taken in the general council, but in the case of two, the vote will be taken in the general convention. In the case of three or more candidates, these shall first be put to a vote in the general council, so that the two candidates who receive the most votes, shall then be put to a vote before the general convention.

For his part, PN General Secretary Michael Piccinino said that this process, which was launched on Sunday, must not only lead to the election of a party leader, but it should also lead to reflection.

"We have an obligation to Malta and Gozo that this party, which in the past has brought so many historical changes that have shaped our country, will once again become the vehicle which will give direction to our country in the future."

"This is a time when every decision taken must be inspired only in the best interest of the Nationalist Party," Piccinino said.

He stressed that the discussions that must take place in the coming weeks and months must go beyond just a discussion on the name of the person who will lead the Nationalist Party for the next five years.

"Malta needs a strong Nationalist Party. This is a time of reflection where everyone who cares about the Nationalist Party should be thinking about what could have been done better and what needs to be done to make it better in the future," he said.

Piccinino emphasized on the importance of an open and honest dialogue between the councillors and all members of this Party... sincere discussion on the future of the party, on the future of the structures of the party, how they can become more efficient and truly be able to perform their duties for the party and for the country.