Malta Chamber of Commerce, Enterprise and Industry issues statement about the sale of citizenship: “The Chamber believes that any attempt to force the Programme through at this stage is not in the country’s long term interest.”
MEDIA RELEASE
DATE: 12th November 2013
The Malta Chamber Urges Political Consensus on Individual Investor Programme
The Malta Chamber of Commerce, Enterprise and Industry has followed with interest the recent debates in Parliament and elsewhere regarding the Individual Investor Programme (IIP).
Without wishing to enter into the arguments as to whether citizenship should be exchanged for a monetary consideration or otherwise, the Malta Chamber notes that the Programme as outlined and debated in Parliament continues to leave serious doubts and unanswered questions.
The Chamber’s main concern centres around the Programme’s impact on the country’s economic reputation. So far, successive Administrations have, rightly so, gone through great lengths to protect the country’s reputation because its importance for future economic development was always recognized – especially in sensitive sectors such as financial services.
The Malta Chamber believes that, as things stand, the Programme can affect Malta’s reputation because it can raise questions about the soundness of the country’s fiscal and financial credibility. More importantly, the Chamber believes that Malta’s reputation can be tarnished by the unprecedented extreme positions taken by both sides in Parliament over a matter of such economic sensitivity.
This risk has been compounded by the dangerous statements made during the debate which may lead to misinterpretation and taken out of context. Uncertainty, of course, is not conducive to investment attractiveness.
The Malta Chamber strongly feels that the matter should have been handled better but that there is still time for political consensus to be reached. It is of the firm belief that the roll-out of the Programme should not be unduly rushed. Whilst it is acknowledged that 2014 budgetary projections rest on the IIP’s implementation, the Chamber believes that any attempt to force the Programme through at this stage is not in the country’s long term interest.
Therefore, the Chamber strongly urges the country’s political forces to seek common ground before proceeding any further with the Programme as this would be clearly the best outcome for the country.
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http://www.timesofmalta.com/articles/view/20131112/local/ad-calls-for-referendum-on-citizenship.494422#.UoI6vScueV4
The PM must be very dumb or very head -headed to go ahead with the law in view of such a statement from a body like the Chamber or the obvious majority of voters who , in various public polls are manifestly against it.
Does he really have a choice? There are promises, unlike electoral ones, that cannot be broken.
I agree with The Malta Chamber of Commerce, but does the PM have any other choice in the matter?
His campaign investors have come for their pounds of flesh.
The Japanese honourable way out would be to commit suicide BEFORE the pound of flesh was taken, not after.
I believe he PM has no other choice.
It seems he sold his soul.
Many people are claiming that our clever, creative government will be selling Maltese/EU citizenship for a very cheap price.
I beg to differ. When one puts things into perspective, €650,000 is actually very expensive. Consider what you get when you pay the following:
Some free meals at a Bugibba steakhouse, a mobile phone and a butcher’s bill – a judge
€23,000 – the Chief Justice
A 30-minute show on TVM once a week (not prime time) – one of the owners of a national newspaper, Malta Today
I can go on and on, but you get the point.
I must say that The Chamber left it rather late to voice its opinion. They, and other organisations, had no inhibitions when dealing with the Nationalist government, and were always quick off the block with their criticism.
A large wheel is slow to get started. Once momentum picks up even those who are currently afraid of their own shadow will start helping it gain momentum. I think it’s good that they expressed their opinion.
People are afraid of retribution. The Norman Vella incident was well timed, when one thinks about it. Intimidation is an important Labour tool. Always was.
No money for CCF this year, my money will go for Putinu and PN Marathon.
http://amandala.com.bz/news/desperate-sell-birthright-passports/
Do you agree with selling Malta’s citizenship?
5 quick questions: https://www.surveymonkey.com/s/8BFJVY9
Please complete and circulate.
It is about time time that everyone wakes up on this sad day for Malta.
So sad that our so-called government puts a price on our citizenship and allows it to be sold to any Tom, Dick or Harry and to make it even worse sold by foreigners.
I am not one who writes or gets involved in politics but what our Prime Minister has done today has made me feel so angry that my citizenship which is mine by birthright is now going to be sold.
Is that what we are worth, is that what our ancestors spilled blood for, is that all the bullshit preached before the last election on being proud to be Maltese?
All this for what, to fulfill promises made to some people before the elections, all this for money.
Tonight I was working and some foreign clients asked me about this law as they heard about it at their hotel. They said that it was a shame that a government could sell our passports to anyone.
It is degrading and such a pity that such a beautiful country with such a rich history ends up selling its identity for money. A sad, sad day for Malta – shame on the government.