10 years ago - The Times

Thursday, October 9, 2008

Maltese deposits not affected

Deposits in Maltese financial institutions should not be affected by the prevailing international crisis, the government said yesterday as the European Central Bank (ECB) cut interest rates by 50 basis points to 3.75 per cent.

Finance Minister Tonio Fenech said the financial turmoil, considered to be the worst crisis in 80 years, was not affecting Maltese institutions which are not facing any liquidity problems.

EU finance ministers agreed at a meeting in Luxembourg on Tuesday to take common measures to counter the crisis in the financial markets.

Mr Fenech explained that the ministers had agreed on an EU-wide deposit guarantee of €50,000 for European savers. This will also apply to Maltese depositors, who until now were covered for the first €20,000 of their savings.

The government went a step further and increased the minimum deposit guarantee of Maltese depositors to €100,000 in order to “put people’s minds at rest”.

Mr Fenech also agreed on government intervention if any financial institution were to face any problem.

Flanked by Central Bank governor Michael Bonello and the chairman of the Malta Financial Services Authority Joe Bannister, Mr Fenech noted how Maltese financial institutions were on a strong footing.

25 years ago - The Times

Saturday, October 9, 1993

Court describes as fair comment article claiming attempt on Mintoff was fabricated

A judge concluded that an article claiming that an attempt to kill Mr Dom Mintoff in October 1979 was fabricated, was fair comment.

However, the editor, printer and a columnist of the newspaper Alternattiva were ordered to pay Lm375 damages for libelling Victor Pace in implying he was promoted for helping make the story of an attempt on Mintoff’s life credible.

Pace had claimed the article had damaged his reputation, while defendants Harry Azzopardi and Carmel Hili claimed it constituted as fair comment.

The article recounted events which took place on October 15, 1979, when Karmnu Grima had gone to Castille to speak to the then Prime Minister Dom Mintoff about a private matter.

He was armed with a revolver in order to scare anyone who stood in his way.

Grima was then shot and taken to hospital.

That evening, a group of men burned down The Times building and had attacked the home of Dr Eddie Fenech Adami, then leader of the Opposition.

Half a century ago - Times of Malta

Wednesday, October 9, 1968

Employers call for ‘some form of control over strikes’

The Malta Employers Association has called for some form of control over strikes to prevent the industrial sector from becoming a victim of continuous strife.

It was pointed out in the editorial contained in the association’s newsletter that never in the history of labour/management relations in Malta have there been so many strikes.

“At a time when Malta is endeavouring to attain economic stability through an intensified drive of tourism, one would expect that every effort would be made by all sectors of the community who have an interest in the wellbeing of these islands to create an image of stability so essential if industrialists and visitors are to have confidence in our future.”

Those who are responsible to look after the interests of the worker must also protect the island’s economic development: the one is intimately related to the other, said the association.

Sold sugar at higher price

Carmel Borg of Msieraħ was yesterday fined £5 by Magistrate Dr G.O. Refalo after he was found guilty of having sold sugar at the price of 11½d instead of the normal price of 8d per rotolo at the Tower Self-Service store in Sliema. 

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