Former Minister Michael Falzon this afternoon unconditionally apologised for holding an undeclared Swiss account.

He referred to a statement he made on Saturday in which he explained how prior to 1987, he was involved with other professionals in the provision of architectural and civil engineering consultancy services outside Malta and that, considering the political situation prevailing at that time, he retained his earnings abroad.

Mr Falzon, who was a member of the PN’s executive committee and an observer on the Oil Procurement Committee said in a statement: “I have failed my Prime Minister, my Parliamentary colleagues and the electorate who had given me their trust by voting for me”.

“I acknowledge that although my fiscal position has long ago been regularised, this is not sufficient for a politically active person.

“I recognise that I ought to have repatriated the funds on the first possible occasion after the 1987 election and that I ought to have included the said funds in my ministerial declaration of assets.

“As a result of these omissions, I have failed my Prime Minister, my Parliamentary colleagues and the electorate who had given me their trust by voting for me.

“In view of this, I unconditionally apologise for my failures,” Mr Falzon said.