Michael Falzon’s contract says he can return to the bank

I am informed by sources at the Bank of Valletta that Michael Falzon’s early-retirement contract with the bank stipulates that he can return to his former job there should he lose his position in the cabinet.

Falzon, who joined the bank in 1979 – and who, as a favoured Labour crony, was sponsored by the bank to study law for six years while on the full-time payroll – took early retirement when he joined the cabinet two years ago.

His early retirement package was around 200,000 euros. He will not have to return the money if he returns to his position there.