Taking the Mickey

Lino Spiteri's article Taking The Mickey Out Of Banking (The Times Business, September 7) was yet another reminder from a respected eminent economist (as well as a former Minister of Finance and Central Bank Governor), that the sooner Mickey exits the Bank of Valletta plc the sooner this bank will be free from direct or indirect incursions by the state.

Also this will hopefully mean that BOV will become more competitive and face challenges with an autonomous frame of mind rather than risk having to be subjected to the shackles of Mickey's diktat.

Shareholders can then expect the price of their BOV shares to climb out of their current depressed level, and back to their justified high, without company officials calling the shares higher or lower according to Mickey's agenda.

State involvement in banking just doesn't work and BOV, which has had more than its fair share of consequential disharmony, is a typical example of this malfunction.

What BOV needs now is a new lifeline which operates within a strict observance of best practice in corporate governance.