Honeypot politics

Bears are known to love honey primarily because it is a rich source of carbohydrates, which provide them with a quick energy boost.

This has given rise to many stories and cartoons mainly aimed at children but certain sectors of our government seem to give out money liberally, practising honeypot politics. It is obvious that wherever there is a honeypot, the chances of wrongdoing increase. We are only human after all.

Former minister Clayton Bartolo had two such honeypots under his brief – the Malta Film Commission and that sector of the Malta Tourist Authority (MTA) known as Product Development and Events.

The idea of this MTA division is to decide on what events are to be subsidised with the aim of attracting people to Malta. This particular MTA sector has millions of euros at its disposal and any shrewd businessman would obviously consider it a honeypot.

The story-line goes somewhat like this. Some guy proposes a concert with world-famous entertainers taking part. Since such an event is considered as one that attracts foreigners to visit Malta, the MTA sponsors the event.

No one has ever checked whether the subsidy handed over by the MTA was worth it. No check is made on how many tourists an event has attracted. What is sure is that the guy who organises the event ends up with a nice profit which would have been impossible without the MTA subsidy.

The second scandal involving the wife of Clayton Bartolo is linked to MTA’s ‘product development’ techniques. Valerio Agnoli was hired by the MTA to promote cycling tourism and formalised a €20,000 annual agreement in 2023.

Amanda Muscat began working for an Agnoli-linked company in 2023, 18 months after leaving her unjustified ministry consultant role, and ended the assignment in December.

Investigators believe that payments given to Amanda Muscat might be tied to an MTA-related kickback.

Clayton Bartolo’s wife received tens of thousands of euros from a private company, linked to Valerio Agnoli over a six-month period.

Has anyone heard of people coming to Malta to enjoy their sport - cycling? Many in their right senses do not believe that Malta can attract cyclists to practise their favourite sport here. But the MTA apparently does and has spent money trying to attract cyclists to come to Malta.

This is where MTA’s ‘product development’ becomes a crazy excuse for it to hand over money.

Honeypot politics, for sure.

HSBC saga not yet over

The other Saturday I was gobsmacked when reading that the APS-HSBC deal was still an option, according to an article written by Ivan Grixti and published by The Times. What left me even more confounded was the writer’s statement that with the ‘little to no banking competences’ of its owners, ‘APS stands to lose its banking licence.’ This is the sort of dangerous speculation that a responsible person should avoid.

Grixti, a senior lecturer in financial accounting at the University, apparently mixed up the competences of the Maltese Diocese with those of the serious board the Church appointed to run APS.

The Sunday Times then published a story quoting what the Archbishop had said on the APS-HSBC deal when addressing the Diocesan Assembly in Birkirkara the previous Friday. The Archbishop declared that contrary to what many have suggested, the possibility of APS Bank acquiring HSBC Malta is ‘far from being a done deal,’ adding that: ‘Any decision taken will be based on facts, not speculation’.

On that occasion, the Archbishop called for ‘sincere dialogue’ only after all necessary information is officially available, ensuring any decision reflects the principles of ethical and responsible stewardship.

While the Church has progressively reduced its shareholding, it continues to play a role in the bank's management and direction, the Archbishop was reported as saying ‘APS has operated ethically and without controversy for 50 years.’

Mgr. Scicluna said that the archdiocese has always acted prudently in its management of APS, including promoting its ethical banking reputation and reducing its influence over the bank without undermining its investment.

The Archbishop highlighted the Church's unique responsibility to society, warning that if the church were to abandon its charitable mission in favour of profit-driven enterprises, it would risk losing its relevance and failing its role to the people of God.

He also referred to the Archdiocese's legal obligation, as the bank’s largest shareholder, to refrain from making comments that could influence the financial market. Rather too late, I would say.

Suddenly, on Thursday morning, HSBC issued a company announcement saying that a ‘number’ of bidders have shown interest in acquiring HSBC Holdings' indirect 70% shareholding in its Malta bank. It did not reveal the identity of the interested parties and how many there might be.

HSBC Bank Malta said it would be convening an extraordinary general meeting to obtain shareholder approval to allow interested parties to conduct due diligence checks and take negotiations to the next level.

HSBC stressed that ‘no decisions have been made’ and that its parent company, HSBC Continental Europe, ‘continues to consider a full range of options’.

The only thing that is sure about this controversy is that HSBC wants to leave Malta.nsored Articles

MCAST strike

MCAST students on Wednesday held a protest in support of lecturers, as talks for an agreement with the government have still not been concluded.

The protestors blocked Triq id-Difiza Civili where the MCAST Mosta Campus is situated and organised a carcade from Qormi to Paola culminating in a larger protest on the college campus in Paola.

The organisers of the event stated that students at MCAST are ‘currently experiencing a profound sense of frustration and uncertainty due to ongoing industrial action by the Malta Union of Teachers’.

The Union that ordered the industrial action might feel justified in taking industrial action but this action has hit the students more than it has hit the education authorities themselves who are their employers.

I think this is unfair on MCAST students and while I respect the MUT, I cannot condone an industrial action that has hit students so badly, even though the students support their lecturers.

Surely, MUT can think of industrial action without making students suffer so much for the consequences.