What’s Bannister doing there anyway?

The fact is that the Malta Financial Services Authority chairman (Bannister) is close to John Dalli, while the Finance Malta chairman is staunch Mintoffian, promoted to the highest levels under the PN ghax Malta veru kienet taghna lkoll, u l-meritokrazija veru kienet tezisti.

The headlines on todays online UK Independent newspaper

Perfectly explained.

The advantage of the Maltese passport is that unlike the country’s currency, which is controlled by a central bank independent of government, the passport currency is controlled by the government, and Joseph Muscat can print as much as he likes of it and he can dictate the exchange rate (price) against any other currency. He has already indicated that he has printed 1,800 copies which he is holding in the vaults, ready to release in circulation, for the price of Eur 650,000 a piece.

But like any central bank currency, the more he prints, the more the currency devalues. And the Maltese passport has already been ridiculed and debased even before Muscat releases on the international markets any of the 1,800 copies with which he plans to mop up the equivalent of Eur 1.2 billion from China, Azerbaijan, Russia and the like.

– buy a property, then sell it for a profit.
– invest in bonds, make a profit

Net result? The ‘investors’ end up, at the end of the day, better off than they would have been under the scheme in its original, disgraceful draft, with the same end result of having gained an EU/Shengen passport, ON THE CHEAP/CHEAPER/CHEAPEST!

But it’s NOT about the money, as Labour idiots claim to be the crux of the whole rotten issue, is it.

But……I’m being n egative. I must apologise.