Franco doesn’t much care about Malta’s downgrade, because party financing is more important than the economy
Published:
January 14, 2012 at 1:30am
Franco Debono has been suffering most horribly for years
While we were discussing the protracted suffering over many years of Victim Debono, nine Eurozone countries were downgraded by Standard & Poor’s, including Malta (to AA1).
It made him look even more dull-witted, petty and egocentric, particularly when he said that political party financing and libels laws are more important than the economy.
Oh well. We could always take to cock-fighting and make our money on bets.
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Some encouraging words for Dr Debono:
‘Blessed are they which are persecuted for righteousness’ sake: for theirs is the kingdom of heaven’
He never became a minister but he stands to become an angel, with a harp.
Here’s a little song from Franco Debono:
http://www.youtube.com/watch?v=DBnSBliaYwo
[Daphne – Is there a song about a nymph called Franco? He’ll demand to know why not.]
He never said that directly….he always referred to those as part of the concept of democracy which in his opinion is more important than the economy which in my opinion are linked and both should be given equal weight…..Apart from that we should also mention the fact that 7 countries had their grading untouched, and considering the fact that our position was downgraded at times when the PM and his colleagues were collecting 500 euros per week in wages, I attribute such negative aspect of our economy solely to the govt.
[Daphne – Exactly why are you, a dyed-in-the-wool Labour supporter, defending a Nationalist MP?]
What breathtaking ignorance. It’s not entirely BC’s fault though.
The abysmal level of Maltese political discourse means that anything that happens must have been done by the government, whether it’s postive GDP growth or a negative credit rating.
BC, nine countries have had their credit rating downgraded. They’re the ones which are financing the European Financial Stability Facility. This means that the EFSF’s rating itself has been downgraded. Which means that it’ll have to borrow at higher interest rates.
Now Malta is among the countries financing the EFSF. Our rating was bound to be downgraded, even if our own economy had performed spectacularly well, since the EFSF’s money is our own.
With such brilliant economists as Doctor Alfred Sant and Professor Edward Scicluna in Labour, I’m surprised these facts aren’t being explained. Perhaps you should lobby to have The Kilo Challenge replaced with a programme on economics.
I guess Germany is funding the EFSF no H.P.Baxxter…..and that’s not the point, the point is that while govt was egoistically enjoying the pay rise, whilst stating at the same time that we should do sacrifices, our economy is being downgraded. where is the loyalty towards your constituents? And I guess I agree that I am ignorant, ignorant for 3 years on the fact that while MPs were having their wages adjusted we didn’t know because criminally, the PM felt he wasn’t bound to inform us.
Amongst the only countries not to be downgraded are Ireland and Greece, for the simple reason that their status is already junk, so there’s nowhere lower to go.
9 out of 17 have been downgraded.
2 have not for the reasons above.
That only leaves the big, rich heavy weights like Germany, Luxembourg and Netherlands.
They wouldn’t understand a word of it.
Nicky’s come up with another nice little piece of writing at http://www.azzopardinicky.com/
How I wish there were more people like you and Nicky who can relate terribly serious things in an amusing and lighthearted way.
Baxxter,
Labour still discusses the economy in terms of ‘il-kaxxa ta’ Malta’.
Which explains why this administration’s economic policy has been under constant attack. What remains to be seen is whether Labour is cynical or plain dumb.
The situation we’re in politically, is a direct, intentional consequence of the opposition’s refusal to subscribe to objective dialogue. Talk about cheap tricks.
Cont.. @ Not Tonight
One of the photos on Niki’s blog says it all. Franco posing in front of the camera. The writing on the wall was there on the very first parliament sitting.
By all means Daphne, at which point am I defending a Nationalist MP, I just clearly stated that I disagree with his opinion since they should be given equal wieghting and with respect to Franco I was just stating a fact. Rather more saying the truth.
With sincere apologies BC you symbolise the crass ignorance of PL.
Just to get you going read this and stop watching ONE cartoons.
http://www.bbc.co.uk/news/world-europe-16558465
Just to help, have a look at those countries that have not been downgraded and then do some basic research – that is if you can!
So stop regurgitating what you hear and appreciate the performance of this administration
With all due respect Joe Micallef, how can I appreciate the performance of such arrogant administration when such adminstration had no reaction to Gonzi’s initiative to give himslef a 5oo euro pay rise? How can I appreciate its performance, once I have no guarantee that this removed pay rise applies after the election? How can I appreciate such admin when Gozni knew all along that we are making sacrifices and a tougher year is due to come and he still made no sacrifices and realised just a week ago that he should begin making sacrifices at a time when the Italian PM is not accepting any remuneration for his work? How can I?
Of course I have crass ignorance, crass ignorance for 3 years not knowing that Gonzi was getting a pay rise and we didn’t know. Please MIcallef, widen your parameters. Gonzi was patting himself on the back when they gave a higher grading and said that we are clearing the obstacles created by the international scene, and now he deserves all the responsbility for such downgrading…as much as Austin power was patting himself on the back when he presented the transport reform, and should knwo accept all rsponsiblity.
BC, remove your blinkers and stop thinking I am a PN supporter or worship Gonzi, because I don’t.
Done? Good. Then we can proceed.
PN’s big mistake these last four years has been in trying to use the language of people like you – the Xarabank language.
Complex mechanisms for financial crises become “mewg” and “maltemp”. Positive GDP growth becomes simply “success”.
Metaphors are beloved of the Maltese, and they will be PN’s downfall. Because they fail to explain anything.
When facts are complex and nuanced, like this latest downgrade, it’s no wonder everyone goes off on weird and wonderful tangents.
Economics is perhaps the hardest field in which to construct paradigms. The butterfly effect. Nonlinear behaviour. Chaos theory and all that. Yet it’s being presented to the electorate in kitchen-table language.
Let me tell you something which no ones dares to whisper: Malta will never achieve an AAA rating. Never. Because there’s no way an overcrowded island, 27 km by 14, out on the Southern edge of Europe, can ever produce enough wealth and sustain it.
Never mind governance. It’s the laws of nature. We rejoice in our independence, then let us face the consequences.
Once we have that firmly in mind, we can begin to understand what’s going on. Including why Germany (a huge country of 80 million people, with a huge industrial base, enormous land borders, a thousand-year history, a population density with plenty room to breathe) gets to keep its AAA rating while we are stuck with AA2.
Want to raise that rating a notch or two? Then give up all those handouts which are economically unproductive, including stipends, social benefits, children’s allowance, benefits for single mothers, subsidised water and electricity, and all the comforts we have accumulated over the years. Give that money to R&D, the only long-term creator of wealth in Europe.
But then I expect we’d hear no end to the electorate’s whining.
Was that 500 Euro pay raise wrong? In a country where wages are so abysmally low, yes. In a parliament where qualifications and skills are so poor, yes. In a high-performing government, no.
Is that 500 Euro raise related in any way to our credit rating? Absolutely not.
I guess from most of your comments on this blog not just this article, you have well built a reputation as being a PN supporter or at least ahighly satisfied with the PN in government. on the other hand, you are not taking into consideration a lot of facts. PN uses this Xarabank language as you desrcibe it on TV, I guess because it is the only way how 90% of the population will understand such economic crisis, even though it isn’t the ideal language. Also taking into consideration that economics is studied at university level and considering that it involves rather tough concepts and theories to udnerstand, that is the only language how the Maltese society in general would understand.
You are not taking into consideration, that the laymen do not go on BBC.com everymorning to check how today will affect tomorrow but rather let the news explain it to them. Regarding the pay rise….are you stipulating that once Gonzi last Saturday removed the pay rise, then it is no longer ‘the high performing govt’ you protrayed it to be?
Also taking into consideration that economics at university is studied by a very low amount of students….that’s what is missing
BC wake up and try understanding what PL is offering beyond the thoroughly beaten, envy laden pay rise – I am sure you know that Muscat will be taking it just the same when he is in office, and that many on the PL have taken and are already enjoying a double pay check.
Your, mine and the nations well being is the result of macro policies and anyway you try to interpret fact this administration has done a great job be it economy, employment, tourism, EU Funds, Information technology, freedom, education. It’s these things I look at when deciding who to vote for. What is Muscat offering boq! All I have heard so far is the medieval concept of living wage (which he thinks is novel) and a substantial reduction in utility bills. Both these would drive Malta into the proverbial wall.
I mean look at this internal problem the PN has. If Franco was able to understand the mechanism of working within a team, the whole issue would not exist – it would be a positive contribution to further increase the performance and grey matter gap between the PN and PL.
Point 1- Why are you so sure that Labour MPs will take the pay rise as well? Maybe the fact that that an independent and impartial committee will be estalbished which will have the discretion to determine MP’s wages.
Point 2: Economy- Not that sector which through criticism will win PL the election for sure but still to be desired, especially in the field of govt expenditure because what we are forgetting is that this is teh last year, the year when a lot of projects will be finsihed due to election approaching, so govt debt will accumulate at a much higher rate.
Employment- where are the proposed 5000 jobs of smart city which arguably was the main factor/project which won gonzipn the election
Tourism- a lot more could be done, however the latest reaction by teh govt to Labour proposal of creating a Minister specifically for tourism is one which highly agreed on
EU funds- rather than EU funds, I would mention the euro, and think about it Joe,,,,maybe SAnt wasn’t that foolish after all
IT- wasn’t expecting this to be mentioned but OK– Smart City x inhi sabiha uwx—tal genn
Freedom- ma tantx fhimtek but F.DEbono, Democracy, Oligarchy,,,,says it all just watch Bondi+
Education- at last, that one sector where the govt has spent millions of Euros and for that I applause since I believe Education should be one of the main pillars of every govt…..BUT…no results…I don’t want to mention the lack of results but just 2…think about the education reform and the whole collapse it is creating to the education sector and the fact that lately a report didn’t even c;assify Malta University in the top 1000 globally…what a fiasco!
BC, with you people (average Maltese) it is very difficult to explain this one fact: that your life is largely of your own making, not your government’s.
It would be useless, I suppose, to tell you that no matter how much success and wonderful ‘opportunitajiet ghaz-zaghzagh taghna’ Malta creates, my life will still be f**ked. I was born poor and it’s likely that I’ll die poor and unsuccessful.
But I know that no government will ever change that. So that’s no reason for voting one way or another. I do know, however, that Labour f**ked up this country, starting from the 1950s, whether it was in government wreaking havoc, or in opposition f**king up what were meant to be the best years of my life with the likelihood of never getting into Europe.
So I’ll do everything I can to keep Labour from getting into government. If that means I’ll have to vote for PN, then so be it.
So f**k PN, but f**k MLP even more.
BC I rest my case and promise to pray for you…
Franco Debono does not distinguish between importance and urgency. What is important to him is important, full stop, and that makes it urgent.
It may have escaped your notice, but the impact of economic decisions tends to be immediate. That makes them urgent in a way a monomaniac like Franco Debono could never understand.
http://www.youtube.com/watch?v=bqsMSsEheEw
This extract from Xarabank shows that there may be a possibility to remedy the impasse and avoid going to the polls…
http://www.maltarightnow.com/
I observed his body language and facial expressions during the programme and his behaviour was almost bizarre when Edwin was speaking. He lives in a world of his own. He still thinks that he will vie for the leadership once Gonzi is out of the way.
Here we go again !
http://www.timesofmalta.com/articles/view/20120114/local/franco-debono-keeps-up-the-pressure.402293
Well said, Daphne! Can’t stop admiring your guts for speaking your mind so publicly! Keep these posts coming! :)
Somebody must have been talking to and putting pressure on Franco Debono after Xarabank.
Franco Debono: People at fault should assume responsibility
‘Meritocracy means that people who fail should resign not be elevated’
timesofmalta.com
One other thing that bothers me about Franco’s insistence on improving criminal-related laws is that it’s all about the real or alleged criminals, people like his clients. He has never mentioned anything about victims’ rights. He is all out to assist criminals, but never their victims. Shame.
Debono’s thinking is that if he says it, then it must be right.
If I remember correctly months ago it was reported that the police had strongly objected to the coming into force of regulations allowing a person being interviewed by the police to be accompanied by a lawyer.
The reasoning is that in so doing, the police are less likely to solve a criminal case.
This would undermine the rights of the victim and his/her family. Debono talks about the rights of alleged criminals but nobody talks about the rights of victims.
[Daphne – What Debono says and what the police argue back is irrelevant in this case. There are rulings of the European Court of Human Rights. We are not reinventing the wheel here. People have the right to a lawyer during interrogation. As the victim of Anglu Farrugia’s interrogation methods, I can give you a firsthand account of the risks and dangers of being interrogated in those conditions without access to a lawyer, and this when you are innocent. It was only through chance that I remembered something I had read somewhere – that statements signed under extreme duress are not valid (especially when they are written by the investigating officer and full of lies).]
There are always two sides to an argument. On each issue, Debono acts and behaves as if there is only one side of the argument.
Franco Debono quoted on timesofmalta.com.
“Meritocracy means that people who fail should resign not be elevated”.
“The only hope is that whoever is responsible for the current unacceptable situation assumed responsibility and resigns”.
Don’t they have mirrors in the Debono household?
Xi sottospecchio ghandhom, nahseb.
http://www.freewebs.com/johninduratur/photos/INDURATURA/IMG_0037.JPG
All this talk of justice and home affairs ministries, constitutional matters etc. from Franco Debono is just a smoke screen.
All he cared about was being made minister. His outburst which caused all this mayhem happened a few minutes after he got to know about the Cabinet reshuffle.
When questioning him, journalists seem to tiptoe around this basic fact.
http://www.timesofmalta.com/articles/view/20120114/local/franco-debono-keeps-up-the-pressure.402293
My comment on timesofmalta.com:
Dear Dr Debono : We have had enough of your whining about your sufferings and academic merits based on a Form 2 mid-year exam result. Last week you said that you were thinking about going to live and work in Italy. Do us all a favour and go!
After all your political and professional careers in Malta are now finished. Game over!
By the way it’s bad manners (ta’ cacu ) to leave your mobile on when being interviewed or appearing on a TV programme.
On Malta Today:
“On Standard&Poor’s downgrading of nine European countries, including Malta, Busuttil said Malta is highly affected by what goes on in the member states: “We must look at how these countries are faring as to be able to prepare measures to mitigate these affects.”
Scicluna said rating agencies are not giving member states time to sort out their problems: “They’re seeking immediate problems and expect countries to reduce their debts in 24 hours…”
And Scicluna’s boss sought to eliminate the Maltese govt within 24hrs. Enough said.