Banks in this country are increasingly being obligated to follow and observe procedures regarding how to run their financial systems according to regulations set by the EU. For them, this involves multiple tasks and requirements that are costly and need a focussed implementation.
Meanwhile, as matters stand, they do not face strong competition as the local market has few bank operators. Which gives them the possibility, without any formal agreement between relevant players, to implement strategies that are similar to each other’s or in parallel with them, while thereby seeking to contain rising costs and the drag on profits.
This has mostly been happening to the detriment of depositors. Interest on deposits has been kept low. New and old fees on services rendered are charged with little to no relationship to the value added they carry. Face to face services given to clients continue to be curtailed or withdrawn.
This has been happening all over Europe. In Malta it is work in progress. The authority responsible for consumer protection does not seem to really care about what is going on
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GREEN SPACES
There is a need to establish green spaces all over Malta. Just as much, we need a proper understanding of what such green spaces should consist of. Too often the idea as to what they amount to apparently is that of arranging for a few trees surrounded by green borders to preside across a concrete flat area where “families” can congregate for picnics after having parked their car not so far away, naturally within the perimeter of the stretch of concrete.
I would think we need a wider concept of how to establish these green spaces. It is not enugh to financially allocate, as is happening, a big sum to their creation. There has to be a powerful and serious vision regarding how such spaces should be set up. It cannot depend on the opinions of politicans and bureaucrats only but needs to include in a big way, the perspectives of specialists skilled in the preservation of nature.
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EU MEMBERSHIP
It was of course inevitable that for the twentieth nniversary of Malta’s accession to full EU membership, scripts would be written and ceremonies held to commemorate the event. Most were obviously in celebratory mode. In the political world, but equally in other sectors, the view that has “prevailed” draws around it huge currents to maintain the idea that it was, and still is, an excellent option.
The same had to happen in the present case. Still, I was astonished by the many declarations that were advanced to emphasize how the membership option was so good. There were indeed many such declarations, all set out in general terms. Almost none made particular reference to concrete developments that had happened in our economy or society during the past twenty years.
Now, it is clear that during this period, the island’s situation has improved. God forbid had it been otherwsie. The point – for those who want to see – remains that with the alternative (to membership) which the Labour Party had then proposed, the situation today would have been manifestly much better.