Josef Bonnici to be appointed Central Bank governor
![Mr Bonello [left] who is to be succeeded by Josef Bonnici at the helm of the Central Bank.](http://c257.r57.cf3.rackcdn.com/76974e578c0c1b0b649aef20e94976883007892615-1304087656-4dbacc68-620x348.jpg)
Mr Bonello [left] who is to be succeeded by Josef Bonnici at the helm of the Central Bank.
Former minister Josef Bonnici is to be appointed government of the Central Bank on July 1, taking over from Michael C. Bonello, who has resigned, the government said.
A director at the Central Bank, Prof. Bonnici is professor of economics and head of department at the University, focusing primarily on monetary economics, macroeconomics and econometrics.
Mr Bonello informed the Prime Minister of his wish to resign in a letter dated April 18.
He will retain his post until the end of June.
In his letter, while thanking the Prime Minister and the government for the trust placed in him, Mr Bonello recalled that when he accepted the Prime Minister's offer of another term as governor in 2008, he had indicated his willingness to oversee the transition of the euro to its completion, but not necessarily to complete the full five-year term.
The Prime Minister accepted Mr Bonello's resignation and thanked him on behalf of the government for his valuable contribution.
Mr Bonello was first appointed governor in 1999, and since then he was actively involved in the transition to the euro, the accession of the Central Bank of Malta to the euro system, and the restructuring of the bank to meet these new responsibilities.
Since 2008, Mr Bonello has been a member of the Governing Council of the European Central Bank.
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Ms Maria Vassallo
Apr 30th 2011, 08:26
Thanks, Michael,
and most welcome Josef......auguri e buon lavoro.
Mr Evarist Saliba
Apr 29th 2011, 22:56
Michael Bonello has done a very good job at the Central Bank, and he has been forthright in his comments on economic issues. With his long experience in the United Nations, and now in the Central Bank of Malta, I do not think that he is in need of the ETC.
Good luck for the future.
Mr Guido Farrugia
Apr 29th 2011, 19:37
Musical chairs
Mr A. Mizzi
Apr 30th 2011, 09:21
Did Tonio Fenmech approve this appointment? He was reported as saying he did not want "Cwiec Maltin" to occupy senior posts!
Carmel Xuereb
Apr 29th 2011, 18:49
Maybe Mr. Bonello is smelling something fishy, perhaps we will follow the same footsteps as GREECE, IRELAND, and PORTUGAL. And om my God Prof. Bonnici every one of us remembers the hedging issue do we!!!!!!!!!!!
Mr john vella
Apr 29th 2011, 17:57
WHY!
When I was a child running the streets of the Capital I used to ask my father: 'Why Il-Casino Maltese is not open for all Maltese?' (It was a club for those PN who looked down and showed it, at us common mortals) My father always tried to keep peace and never gave me a clear answer!
WHY?
Is this open discrimination again on all other Maltese tax payers, citizens? Is it possible we are all Gahan Malti? How long are those Nationalist inside the circle going to continue eating everything by themselves? Please wake up opposition! Malta is run by the PN, for the PN, and only PN take it all! SHAME!
Mr M Borg
Apr 29th 2011, 20:54
What has the Casino Maltese got to do with the resignation of the Governor of the Central Bank ?
The Casino is just a club. You might not know it but many LP member of parliaments also form part of this club
Not only that but some of these LP MPs make use of it every day.
So shall we now say that Malta is run by the LP for the LP and only for the LP just because these LP MPs are members of the Casino Maltese ?
What rubbish!
Mr R. Abela
Apr 29th 2011, 17:07
If I remember good, Mr. Bonello wanted people to work till they are 70 years and over to contribute more for the country. How can he resigned? Is he going to ETC and look for new job or the musical chair is already left empty for his future job? Is he still with the idea to end up student stipends? If yes I'm afraid he is going to take the role in his merits.
Mr Tony MANGION
Apr 29th 2011, 17:00
Can anyone inform us what pay and other benefits will the Profs be entitled to, or is something confidential. ?
Mr C Camilleri
Apr 29th 2011, 16:53
I'm tempted to start working and canvassing for the PN! It pays back to be a PN supporter!