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The scourge of omertà

Francis Vassallo, an expert in the financial world, recently spoke out without reservation and declared that the situation in Malta is beyond worrying. He went as far as to say that unless the competent authorities take action immediately the financial industry in Malta is at risk of collapsing.

This shocking revelation only hit the news in certain media outlets while it was completely disregarded by others.

However, what I find most shocking is that only one person has spoken up. It is alarming that all the thousands of others who work in financial services keep silent while Malta burns.

Alarming not just because the silent are complicit but because by believing they are safeguarding their own vested interests they are in reality betraying them.

If Malta’s reputation is lost what will they tell their clients and their colleagues abroad? Who would want to trade here except some bogus operators?

What I find most shocking is that only one person has spoken up. It is alarming that all the thousands of others who work in financial services keep silent while Malta burns.

The silence of the many is deafening and disgusting.

Even the Malta Institute of Accountants is too quiet for its own sake. Their president recently wrote an article in the Times of Malta. But again did it go far enough?

Did it say what sort of action the accountancy board has taken with regard to NexiaBT and Brian Tonna? Or whether it has even contemplated any action?

A year ago a minister in Joseph Muscat’s cabinet dared question the position of the MFSA chairman. But where is that minister now? And why aren’t more questions asked of this chairman and his actions or inactions?

Why are we gripped by this mysterious fear? Why do we seem to be part of a cover-up, a national omertà?

As Francis Vassallo said, this has nothing to do with politics or with political brownie points. This is our future, not just political future and not just financial future, but our future as a nation, a nation which up to a few years ago had every right to be proud of what we had achieved but which is quickly sliding down the chute.

Speaking up now is not just about standing up to be counted. It is about saving our future.

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