Country weathering economic storm - PM

J. Mizzi

Jan 20th 2009, 19:24

Hi all,

Don't you think that comments here are falling on deaf ears !!! The comments will be forgotten when the topic is deleted from the top 10.

Create a new forums for the Maltese people ! There we can really discuss.

10,000 signatures is all you need for a referendum to take place. After all we are a democratic country and not puppets. 10,000 signatures to be collected triggering a referendum entitled "Do you want another election ?" I'm sure it will be well over 50% !!!

Maggie Hatcher

Jan 20th 2009, 15:54

@ C. Sapiano
My apologies if you got that impression, it was not my intent to imply that. What I meant to say was that while consumers elsewhere are uncertain of the future, they do not face the same astronomical cost increases that we do. Uncertainty drives fear, and we have no lack of uncertainty. As for unemployment, the ripple effect of reduced consumer spending has yet to hit Malta. It would be a wise government that stops making broad-brushed, feel-good statements and anticipates the coming wave.

J Martinelli

Jan 20th 2009, 00:54

Part 1

I have been accused of living on another planet, not know anything about economics etc. Some names are familiar so I shall not bother with responding individually.

FACT: Malta's unemployment has hardly registered an increase.
FACT: There are some 8000 foreigners working in Malta while there are just over 6000 Maltese registering as unemployed!?
FACT: Local banks do not need any propping up with public funds.
FACT Not only SmartCity is not falling apart - it just got a boost of several million euros and now on schedule to be partly operational in 2010.
FACT: Instead of proceeding with the Ta' Qali crafts village without EU structural funds, Dock # 1 regeneration will provide a far better location, far better walking traffic by locals and tourists and it will save taxpayers' money. Haste would have created waste.
FACT: Each country has its own set of problems. Malta has its own the government will spend funds for future investment not for dousing fires like the US, Britain and other countries need to do.

Continued

J Martinelli

Jan 20th 2009, 00:52

Part 2

FACT: The price of petrol has nothing to do with how much people spend. People spend more or less depending on whether they are employed and whether they feel panicky. In the US and Canada, the price of gasoline fluctuates daily and not in tandem with the price of oil. Whether state owned or not, petrol outlets are there to serve and make money. We pay for what we use - period!
FACT: A global recession affects all countries whether they happen to be within the Eurozone or not.
FACT: The Opposition's duty is to assist and not to hamper the progress of a nation. If it has good ideas it is its duty to tell the public how it would do better than the government. Only then and when it can prove to have alternatives will it be credible. Keeping mum on their 'supposed ideas' only proves that it has none.
FACT: Preaching doom and gloom solves absolutely nothing except that it may create a self fulfilling prophecy.

A.Gauci Cunningham

Jan 19th 2009, 20:29

Yeah and the three main 5 star Hotels in St.George's Bay (Corinthia Marina , San Gorg and Radisson) have hit rock bottom, 7 Hotels in Bugibba closed for the Winter (Suncrest, Karanne, Sunflower, ex-Bugibba holiday Complex, Tropicana, Coral Hotel and the Palm Court/Ruben Crt...) and many are on a 4-day week while others are just about and I have received a memo saying that this year we have less students and so less work.............

We are not weathering any storm dear Dottor Gonzi we are seeing the storm coming our way and we (the govt.) are doing absolutely nothing!!

Who cares about the imminent cash flow problems and growing unemployment!! Blame it on the recession hux!!!!!!!!!!!!

Prosit!! If we had to put all the vertebrae of our Cabinet together I doubt whether we'll be able to form a complete spine!

fabian muliet

Jan 19th 2009, 18:14

Has the PM gone around shops around lately, or does the he leave that for the pre election. After 20 odd years of wastage and miss management we have hit the bottom, and who has to pay for all this, well i guess every body knows. We're past the FINANZI FIS SOD
stage now. I wonder what's up next. Dear PM everybody has a tv now and everybody knows what most things cost in neighboring europe eg: cars. I don't call this budget measure on registration a step towards saving the environment, i call it day light robbery. Country weathering economic storm lol

V Fenech

Jan 19th 2009, 16:41

Part 2

Whereas other European leaders are lowering the VAT rates, Gonzi is still refusing to respect what he had promised before the election.

Yes, I'm sure Alfred Sant would not have been such bad. And if you think that you're going to make people forget that Gonzi never mentioned anything about the international crisis before the election, you are seriously wasting your time here.

Maybe Dr Sant would have spoken correctly about the Opposition if was elected PM, not like Gonzi did yesterday when speaking about the rent law reform...

Imnalla għandna lil John Dalli jikkoreġieh!

V Fenech

Jan 19th 2009, 16:36

@Mr Martinelli (Dr Gonzi, worth reading too)

You really have no signs of knowledge about the economy and the international crisis. If we are saved from the recession because of the Eurozone, why are countries like Luxembourg, Italy, Germany, France and all the rest in a recession?

They too form part of the Eurozone. I shall make it clear for you to understand - we are considered stronger than other countries because of the liquidity reserves we managed to keep in order to keep the financial system and what goes around it alive. In Malta it is 30% and over, in the other countries who followed the conservatives of Thatcher and her obsession of leaving everything in the hands of "experts" liquidity rates are kept below 10%1

Now they are in a situation where they can't even afford paying wages to their workers! I should have written Gonzi is doing everything opposite to what the other leaders are doing with their economoy. While Berlusconi is seeing Nationalisation as his only solution, Gonzi is introducing barren liberalisation systems, some of which are resulting into oligopolies or further monopolies.

C.Sapiano

Jan 19th 2009, 13:05

@Maggie Hatcher

It's not true that the countries you mentioned are in a better position. There are more layoffs and problems regarding mortgages in North America than in Malta

Midi Market

Jan 19th 2009, 12:37

RE.. "..Quick Take Up Of Midi Bonds..."

COULD ANYONE PLEASE, GIVE US A DETAILED AND CLEAR CUT BREAK DOWN OF WHO,( i.e., private individuals, companies, banks etc..), PURCHASED THESE BONDS...!!!!????!!!!????

Very Curious You Know, Where The Monies Actually Came From...???

Maggie Hatcher

Jan 19th 2009, 11:12

Mr. Gonzi, you must be joking, right? Those of us who work for a living are all bracing ourselves for the onslaught of massive increases in water, electricity, auto registration rates and the possibility of new charges for sewage disposal, while the ruling class squanders money on superficial junk. Meanwhile, seemingly out of control Ministers randomly cancel projects like Ta' Qali supposedly to save money, all the while leaving EU funds, earmarked for sorely needed infrastructure, on the table because they can't get their act together. Mr. Gonzi, like most working class people I know, I have stopped spending my disposable income, bracing myself for uncertain economic times . True, Malta has avoided the spectacular economic meltdowns seen in North America, but my relatives tell me that most working class people there continue to spend their money (more cautiously of course) because their petrol prices have been halved, interest rates are down significantly, and there is downwards pressure on the cost of everything. Mr. Gonzi, even the most ardent right-wing politicians have shifted to the left to weather this crisis, when are you going to see the light?

Mike Magri

Jan 19th 2009, 10:39

PM... "..the Country Weathering Economic Storm..."........ Oh... Boy.....

Yes- ofcourse.... ON THE SEVENTH CLOUD MAYBE...!!!!!!!!

OR EVEN WORSE.... DIGGING DOWN DEEP INTO OUR POCKETS.....!!!!!!!!

Ha.. Ha.. What a farce of a Governmental System.....!!!!

C.Sapiano

Jan 19th 2009, 09:19

The fact that we are a small country is of benefit I think. Thank God.

Eric Camilleri

Jan 19th 2009, 08:50

Steve Evans is right. Dubai is absolutely shaken and this leaves a big question mark about how much political hype one can make about the prospects for Smart City unless 100% assured. Also as reported on BBC the crunch has cost Arab countries $2.5 Trillion since October, with oil rich Gulf Arab States postponing or cancelling a substantial 60% of their development projects. I honestly hope Malta's Smart City will not be hit by this wave which would turn it into a pie in the sky.

Pat Muscat

Jan 19th 2009, 08:45

@ Mr Martinelli
If Mr Martinelli really lives in Canada, he should be aware at least, that all the media in his area, are all writing about the problems facing the economy. He should be aware of such phrases as "privatisation of profits" and "socialisation of losses"; the main gap between "wall str" and "main str", and to sum it up." we are all socialists now". These phrases were not of course concotted on the Maltese media,- we live on an island and a world apart,- but in the hub of the world financial activities a few miles of where you are suppose to live. However, not to forget Mr Vince Farrugia, the GRTU CEO - he did call upon Gonzi to forget ideology, and start being more socialist in order to weather the storm more safely. Are you ready for the change and face to-day's and tomorrow's brave new world?

Steve Evans

Jan 19th 2009, 07:50

Get Real ! Did anyone see the report on BBC World News the other night with referance to the downturn that Dubai is starting to experiance, interesting to see what will happen to Smart City.

laurence schembri

Jan 18th 2009, 22:00

Here we go again...the parodist.
Mr. Martinelli please stop repeating or better still apeing the nationalist media of yesteryear.
Comment about current affairs; Like the Ta Qali Crafts Village a sevevteen year promise thrown out of the window by yours truly. The hidden figures of unemployment, the cost of living (highest in the EU). The state of the roads; road tax money, where is it going? Where is it being squandered? The tariffs on electricity and water, the excuse was the price of oil, it is now under $35 a barrel. The surcharge was a moveable taxation, but tarrifs are not.
And there you are talking about `repetition` and `overtime`., and above all the EU, to my mind the most undemocratic union in existence (the Irish referendum for example), a Union run by hundreds of unelected people telling the electorate what and how to behave.

S V Dimech

Jan 18th 2009, 21:45

@ J Martinelli

you're unbelievable in your comments!! How can one ask questions to Dr Sant?? Do you know who's PM?? Do you know who promised the tax reduction in the first budget?? Do you know who promised heaven on earth? Who promised the Ta Qali crafts village? the reduction in energy bills if oil goes down?

So why should we address questions to Dr Sant? Its Dr Gonzi who's governing now and all questions should b addressed to him and his ministers. The PN spent so much money before the election that now it can't spend enough to help Maltese economy!!

Please do us a favour and be a little credible in your comments

Maria Dolores Fenech

Jan 18th 2009, 21:29

Watching the news this evening on TV, Dr Gonzi said that the LP did not give its ideas or suggestions about the Rent Law?
Hello! Are you there Dr Gonzi? Is this Planet Mars?
But fortunately Mr John Dalli comes to his aid and tells him that yes the LP did give its ideas and suggestions about the Rent Law!!! In front of all the people present. Poor Dr Gonzi. Maybe it is the same with the W&E bills, and he does not know that today's price for oil is $35 a barrel. Wake up GonziPN.
L-anqas jaf x'laqtu!!!
U dan irid imexxi 'l Malta.
PS A word to Dr Eddie Fenech Adami: would you consider becoming leader of the PN again (why not, nirriciklaw le) instead of Dr Gonzi. asap???

J Martinelli

Jan 18th 2009, 19:16

@ V Fenech

"Incredible! So you're trying to tell us that you didn't know anything about this before the election?! "

Presumably this question was addressed to Dr. Gonzi? Why cannot the same question be posed to Dr. Sant?

While Dr. Gonzi, at every opportunity, warned that 'new tough challenges' lurk ahead, Dr. Sant was worried about 'repetition classes', 'paying overtime at flat hourly rates', 'renegotiating the EU accession treaty', 'continuing subsidies to the shipyards' , the 'closure of the Gozo incinerator' after it had been closed and dismantled two months before, etc.

Where were his plans for the economy? Where was his foresight regarding escalating oil prices? By suggesting that the surcharge be cut in half with no hint where the required subsidies came from? Was this his solution?

And how are "the local bank branches in Malta have up to now saved themselves from the recession thanks to the socialist financial instruments of relatively higher liquidity rates and reserves!", may I ask? What instruments? What higher liquidity rates and reserves?

Which parts of the Berlusconi, Sarkozy, Brown and, may I add the Bush/Obama schemes don't you agree with? What are your socialist alternatives?

May God help us all!

Stephen Mamo

Jan 18th 2009, 18:03

Never count your chickens.....etc etc. Malta weathering economic storm? You must be joking dear PM. Ask anybody in tourism, industry and the retail trade and they will tell you. Or else what we're going through is not as a result of the current global situation but more the direct result of bad local governance these past years.

Matthew Agius

Jan 18th 2009, 17:52

Our nation should unite and ready to take the challenges again. It is being heard that the 'economic storm' is yet to lash more thunder further on this year on our island. It is good to inquire, but whilst we moan and moan, isn't it better to understand that we have to stick together if we don't want to end up lost in the waves of economic turmoil?

Let us hope that any sacrifices made will result positively and boost our economy when all is back as should be.

@V Fenech...let us thank God we did not opt to not join the EU and Eurozone. We'd be in the climate of Iceland for that matter, and we would have much more to add to your list of worries - more urgent and without solution.

V Fenech

Jan 18th 2009, 17:06

Incredible! So you're trying to tell us that you didn't know anything about this before the election?!

The Government and the Prime Minister himself lack a strategic plan to stimulate the economy. Instead Gonzi is doing everything that Berlusconi, Sarkozy, Brown, etc. are doing to save their economy!

Another point of astonishment is that Dr.Gonzi does mention nothing about unemployment and the shock that we had this week when the budget deficit was announced. At least he did not play on the same tune about the Euro. Now the next step for the PM is to admit that the local bank branches in Malta have up to now saved themselves from the recession thanks to the socialist financial instruments of relatively higher liquidity rates and reserves!

And Dr.Gonzi, what about this week's ombudsman report about the state of 'excellence' in Mater Dei?

Any reply for the Opposition's question about the housing schemes?

Any response to the number of suggestions left out in the rent law reform?

...Because there are lots of other things affecting the people besides SmartCity Dear Dr.Gonzi!