Comments on: 88 million euros of public money put at risk to save Muscat’s skin

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Sun, 14 Jun 2015 23:39:00 +0000

Errrrm – you’re missing one point. The Bank of Valletta is now in the strangehold of Taghna Lkoll.

There is no way on earth the bank is going to foreclose on that loan, for the reasons you describe, until the Nationalists are back in power.

By: pronoia

pronoia — Sun, 14 Jun 2015 11:17:00 +0000

Tonio Fenech made a silly decision in accepting that flight, but who is to say that those conniving men had it all planned out, after considering their options with Labour. Was it a helping gesture to prove their worth with the Labour guys on the fourth floor.

By: H.P. Baxxter

H.P. Baxxter — Sat, 13 Jun 2015 21:40:00 +0000

In reply to Daphne Caruana Galizia. And his coterie of Gonzi boys. Sorry, but this business of sacred cows and untouchables has got to stop.

By: H.P. Baxxter

H.P. Baxxter — Sat, 13 Jun 2015 21:38:00 +0000

In reply to Daphne Caruana Galizia. Now try explaining that in the kind of Xarabank language the people understand. Kif? Il-flus tal-bank huma taghna?

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Sat, 13 Jun 2015 21:22:00 +0000

Why? The bank is not at risk at all. Banks are there to loan money, and as long as the collateral or guarantor is solid, they’re sorted.

They’re much better off with a cash guarantee from the government of Malta, using public money, than they are with real estate collateral/bonds/shares (or nothing at all) put up by the shareholders.

They’re even better off than if the loan had been guaranteed by Azerbaijan, because imagine chasing Aliyev for what you’re owed.

As to whether the loan should have been given at all, or to such a great extent, that’s a separate issue.

It’s the people of Malta who should raise the issue at their next AGM – the 2018 general election – because it’s our money.

By: anthony

anthony — Sat, 13 Jun 2015 21:00:00 +0000

The Bank of Valletta has been reduced to a stopgap for the government’s financial disasters.

By: c calafato

c calafato — Sat, 13 Jun 2015 20:53:00 +0000

https://www.youtube.com/watch?v=YYmrPn1CnzY doesn’t this remind you of Joseph muscat and the situation in malta these last years?

By: Asclepius

Asclepius — Sat, 13 Jun 2015 20:51:00 +0000

In reply to Daphne Caruana Galizia. Could it be that there is the hidden hand of John Dalli in this deal? I would not be surprised.

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Sat, 13 Jun 2015 20:43:00 +0000

Oh yes, right – Joe Bannister, in between travelling with the prime minister to Singapore to give speeches.

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Sat, 13 Jun 2015 20:07:00 +0000

It’s in my last few lines: because Electrogas held all the cards and had all the leverage.

They could take or leave the power station project at this stage, but if the project fell through, it would be instant political death for Muscat.