Statements that define a new policy or the updating of one are by their very nature an important milestone in the operations of a government. They describe the aims that government is laying out for what it intends to do and serve as a guide to agents and citizens having an interest in the sector concerned. The latter can then decide on how to proceed for the future on matters that for them are vital.

The quality of a statement can range from being very good, to good, mediocre and just bad. So, what makes it of good quality? Firstly, it needs a concise and factual description of how a particular situation of interest developed up to now, what have been the achievements and where the disappointments have accumulated. Secondly, a clear explanation of actual and future problems and opportunities; and finally a listing in concrete terms, of the measures and actions that will be taken – one that covers the reasons why these have been selected and not others, as well as the means to be employed when carrying them out.

In past weeks, a number of policy statements or their drafts were published by the Malta government. They were not all of the same quality.

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CAPITAL MARKETS

In Europe much project financing is channelled through bank lending; in the US via the sale of shares which give buyers a stake in the equity of the company they invest in. The Europeans would like to get closer to the American model by developing at EU level the stock markets where shares are bought and sold (the so-called “capital markets”). The belief is that with similar rules and incentives applying across the whole continent, more investors will be attracted to place their funds in equity offers.

It is a complex project and is not being so successful, since every country has its own set of rules and finds difficulties in trying to alter them. Very few small and medium sized enterprises have opted sought to follow the capital markets trail. Since the days of Covid, their number has quite  likely not grown but declined.

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EUTHANASIA

Apart from pensions, another controversial issue in France which is being discussed relates to whether euthanasia should be introduced; and if so, how. In countries like Belgium and Holland, the procedure has been legalised; in Malta it was promised that the matter would be put on the agenda for consideration but I guess that given the polemic raging over abortion, all discussion has been sidelined, for now if not for ever.

For as long as strong safeguards are in place regarding how it is to be practised, I feel that euthanasia should be allowed. Still there are points about which one cannot but feel quite unsure. For instance in Belgium, a woman who murdered her five children twenty years ago, requested from her prison to be euthanised. Her request was granted.

In Holland, a baby born with an incurable skin infection by which the skin all over the body would burst and become a deep wound was euthanised at the parents’ request.