Kronolo©ija tal-kriΩi tal-ewro - Alfred Sant | MEP U L-EWRO 2.pdf · 2015. 5. 12. ·...

Kronolo©ija tal-kriΩi tal-ewro 1

MALTAu l-ewro

& the euro2

� MALTA u l-ewro/& the euro (2)

Kotba o˙ra ta’ Alfred Sant/Other books by Alfred Sant

Min hu Evelyn Costa? – u drammi o˙ra (1979; 198� u 1993)Bejg˙ u Xiri (1981; 1999) (Rumanz)Sil© fuq Kemmuna (198�; �005) (Rumanz)L-Impenn g˙all-Bidla (1986)It-�8 ta’ April 1958 – Il-ÓobΩ u l-Óelsien (1988)Fid-Dell tal-Katidral – u drammi o˙ra (1994)Malta’s European Challenge (1995)Kwart ta’ Mija (1995) (Rakkonti)Qabel Tifta˙ l-Inkjesta – u drammi o˙ra (1999)La Bidu, La Tmiem – 1599 (�001; �015) (Rumanz)Confessions of a European Maltese (�003)Is-SoçjaliΩmu fi Ûminijietna (�004)L-G˙alqa tal-Iskarjota (�009) (Rumanz) – The Iscariot Field (�011)Pupu fil-Ba˙ar – Rakkonti u Divertimenti (�009)B˙al f’Dizzjunarju (Rumanz) (�011)Malta u l-ewro/& the euro (�01�)Perspettivi/Perspectives (�01�)George Bush f’Malta (Rumanz) (�013)Çpar – Aktar Rakkonti u Divertimenti (�013)

---Kitbiet o˙ra, diskorsi u sa©©i ta’ Alfred Sant jidhru fuq il-websajt: www.alfredsant.eu/Other writings, speeches and essays by Alfred Sant feature on the website: www.alfredsant.eu


ALFRED SANT

MALTAu l-ewro

& the euro2

4 MALTA u l-ewro/& the euro – �

© Alfred Sant

Il-jeddijiet kollha miΩmuma. Ebda silta minn dan il-ktieb ma’ tista’ tkun ippubblikata jew ma˙ru©a b’xi mod jew ie˙or fotostatiku, elettroniku, mekkaniku jew irrekordjat ming˙ajr il-permess bil-miktub tal-awtur./This book is sold subject to the condition that it shall not,

by way of trade or otherwise, be lent, resold, hired out or

otherwise circulated without the copyright holder’s prior

consent in any form of binding or cover other than that

in which it is published and without a similar condition

including this condition being imposed on the subsequent

purchaser.

L-ewwel edizzjoni �015First edition �015

ISBN: 978-99957-0-81�-�

(Apprezzament – Acknowledgements: Ariadne Mavronikola, Daniel Buhagiar)

Werrej/Contents 5

WERREJ/CONTENTS

Da˙la/Preface ................................................................ 9

I IL-FATTI/THE FACTS

(1997 – Frar �015/1997 – February 2015)

01. Kronolo©ija tal-kriΩi tal-ewro ................................. 170�. Euro crisis timeline ................................................ 6�

II IL-KRIÛI STABBILIZZATA/STABILIZING THE CRISIS

(Jannar - Mejju �01�/January – May 2012)

03. Understanding the crisis ........................................ 10904. Il-bastiment tal-bnazzi fiç-çaqliq tal-maltemp ....... 113 05. On dictats and deficits – What’s it all about? .......... 1�406. Bejn awsterità u qg˙ad ......................................... 131 07. A˙na u l-patt fiskali tal-ewro ................................ 14008. Is-self li qed nag˙tu lill-Greçja flus ma˙ruqa? ..... 14809. L-investimenti diretti pubbliçi se jisfaw limitati bil-kbir .................................................................. 169

5

6 MALTA u l-ewro/& the euro – �

10. Euro options – Federalize or downsize .................... 18911. Bejn Ateni u Pari©i ............................................... 1961�. Roads: Management à la Maltaise .......................... �04

III GOVERNANZA EKONOMIKA/ECONOMIC GOVERNANCE

(Ìunju – Diçembru �01�/June – December 2012)

13. Jin˙ema att ©did fis-saga tal-ewro ........................ �15 14. Fl-interess nazzjonali tal-anqas Ωew© salvagwardji .......................................................... ��315. Il-©rajja tal-ewro: kif tinkiteb telenovela ............... �4116. The economic governance of Europe and democratic legitimacy ............................................ �4917. L-Ewropa f’salib it-toroq... imma ilha hemm ......... �5718. Is-sajf tal-ewro ...................................................... �66 19. X’inhu g˙addej realment fl-ekonomija? ................ �74�0. Upgrading Malta’s growth model ............................. �81�1. Irridu nkunu konxji tal-piΩijiet li de˙lin g˙alihom �88 ��. Nivvota favur bl-akbar riluttanza ......................... �99�3. Çaqliq kontradittorju fiΩ-Ωona ewro ...................... 3�1�4. X’jaqbel li tperreç ................................................. 330�5. Dwar l-ewro: Xi jmiss? ......................................... 336

IV IL-POLITIKA U T-TMEXXIJA EKONOMIKA TAL-EWRO/POLITICS AND THE EURO’S ECONOMIC MANAGEMENT

(Jannar – Lulju �013/January – July 2013)

�6. The politics of an intact euro ................................... 347�7. Dwar il-pajjiΩi tas-sud tal-ewro ............................. 354 �8. The FTT challenge ................................................. 363

Werrej/Contents 7

�9. Çipru u Ω-Ωona tal-ewro ....................................... 37030. Kif Çipru baqa’ fuq l-a©enda tal-ewro ................... 37831. Óadu Ωball ........................................................... 3863�. The euro in midsummer ......................................... 393

V. L-ISTAÌNAR EKONOMIKU U L-MUDELL SOÇJALI EWROPEW/ECONOMIC STAGNATION AND THE EUROPEAN SOCIAL MODEL

(Settembru �013 – April �014/September 2013 – April 2014)

33. Malta fil-qafas tal-Unjoni Ewropea u tal-ewro ...... 40334. G˙all-˙arsien tal-impjiegi, l-ewro jrid isir soçjali ... 4�5 35. Dwar il-Greçja, Çipru u l-Irlanda ......................... 43136. German surpluses... ............................................ 43437. Maltese perspectives in Europe ............................. 43838. Importanti jew le? ................................................ 44439. Temi ewlenin ........................................................ 45�40. Ósibijiet Ewropej mill-Imdina ............................... 455

V LURA LEJN IL-BIDU?/BACK TO THE BEGINNING?

(Mejju �014 – Marzu �015/May 2014 – March 2015)

41. G˙axar snin wara ................................................. 461 4�. Kuntrasti bejn il-pajjiΩi tal-ewro ........................... 46643. Il-Ba©it FrançiΩ u xi jmur mieg˙u ........................ 47344. L-Inizjattiva fl-Ewropa ......................................... 47545. Forecasts ............................................................... 48046. Mal-Kbar mod... ................................................. 48947. A Europe of nations .............................................. 49�48. It’s not moving ..................................................... 50549. Lura lejn il-bidu? ................................................ 5��

8 MALTA u l-ewro/& the euro (2)

Da˙la 9

DAÓLA

Ma˙ru© f’Jannar �01�, Malta u l-ewro kien segwa l-iΩviluppi fil-kriΩi tal-ewro sa tmiem is-sena �011, kif in˙assu minn perspettiva Maltija. Dak iΩ-Ωmien l-istorja tal-kriΩi dehret b˙ala wa˙da li se tkompli. Malta u l-ewro (2) qed jissokta biha sa Frar �015. F’li ©ej, se nkunu qed in˙addmu l-istess metodu tal-ewwel ktieb. F’ordni kronolo©ika, jidhru artikli, intervisti, diskorsi fil-Parlament Malti, fil-Parlament Ewropew u f’imkejjen o˙ra, blogs u dokumenti varji, hekk kif ©ew ippreΩentati waqt li l-©rajjiet kienu qed ise˙˙u. Dan jo˙loq xi ftit tar-ripetizzjoni imma jista’ joffri apprezzament dwar kif l-isfidi kienu qed jintlaqg˙u fiΩ-Ωmien li Ω-Ωona ewro t˙abtet biex iΩΩomm fil-wiçç f’qafas globalizzat. Nibdew bi kronolo©ija li turi lista tal-©rajjiet ewlenin fl-istorja tal-ewro. IΩ-Ωmien ta’ bejn Jannar �01� u Frar �015 ra ˙idma ma˙suba biex tipprovdi liΩ-Ωona ewro bi strutturi ta’ lqug˙ li setg˙u jΩommu sodi kontra t-taqlib li jinqala’. B’mod ©enerali dil-˙idma rnexxiet, tal-anqas f’kejl finanzjarju. Patt fiskali ©did obbliga lill-istati membri biex jonoraw

9


tassew l-impenji li kienu da˙lu g˙alihom fil-Patt tal-1997 dwar Stabbiltà u Tkabbir. It-twaqqif tal-MekkaniΩmu Ewropew g˙all-Istabbiltà u miΩuri li ttie˙du biex titwaqqaf g˙aqda bankarja fl-Ewropa kienu ma˙suba biex jistabbilizzaw is-sistema tal-ewro. Madankollu, waqt li twettqu dawn il-miΩuri, in˙olqu piΩijiet tremendi – politiçi, soçjali u umani. L-issikkar fiskali taç-çinturin (l-awsterità) sar parti mill-˙ajja, dejjem bil-g˙an li jinkiseb bilanç fiskali fil-kontijiet tal-gvernijiet kollha. Fil-pajjiΩi li kienu j˙addmu l-pjani ta’ salvata©© finanzjarji, ˙afna çittadini spiççaw i©arrbu tbatijiet kbar.Sadattant, is-salvagwardji l-©odda biex jipprote©u l-ewro tant kienu komplikati li rendew il-governanza tas-sistema tal-ewro dejjem anqas trasparenti. Biex tg˙axxaqha, minkejja l-mediçina qawwija misqija lill-ekonomiji u l-ba©its nazzjonali, iΩ-Ωona ewro baqg˙et ekonomikament sta©nata. Il-qg˙ad, speçjalment fost iΩ-Ωg˙aΩag˙, baqa’ f’livelli g˙olja u inaççettabbli: sar parti s˙i˙a mill-istorja tal-ewro. Óafna jibΩg˙u li se jimmina l-le©ittimità tal-munita. Fl-istess ˙in imma, l-ewro g˙adu popolari politikament mal-mexxejja u mal-popli, fosthom anki dawk li huma so©©etti g˙al salvata©© finanzjarju. Malta serviet b˙ala dixxiplu fidil lejn il-linji ta’ gwida ma˙ru©a mill-protagonisti ewlenin nazzjonali taΩ-Ωona ewro. Mis-sena �013, g˙al ra©unijiet speçjali li Ωgur m’g˙andhomx jitqiesu b˙ala permanenti, Malta rnexxielha teg˙leb it-tweg˙ir ekonomiku li se˙˙ f’bosta ekonomiji Ewropej. Xorta wa˙da, it-tendenzi lejn ind˙il akbar minn istituzzjonijiet çentrali taΩ-Ωona ewro, u dan fil-mod kif jissawru deçiΩjonijiet nazzjonali, di©à kellhom impatt fuq kif f’Malta bdew jittie˙du d-deçiΩjonijiet. Malta u l-ewro (2) jiddiskuti w˙ud minn dawn it-tendenzi.

Da˙la 11

Fil-biçça kollha, mistoqsija ewlenija hi dwar jekk iΩ-Ωona ewro tridx, jew tistax, twettaq il-pass “lo©iku” li jmiss fil-binja ta’ g˙aqda ekonomika u monetarja – ji©ifieri t-twaqqif ta’ federazzjoni politika. U˙ud mill-kapitli tal-ktieb jittrattaw din il-problema b’ton polemiku forsi, imma wie˙ed li jipprova jΩomm bog˙od mill-parti©janiΩmu. Ninsabu fis-sena �015 u l-iΩviluppi fiΩ-Ωona ewro g˙adhom storja li trid titkompla.


PREFACE

Published in January 2012, Malta & the euro followed the developments of the euro crisis up to end 2011, seen from a Maltese perspective. It was a continuing story which Malta and the euro (2) now takes to February 2015. The same method as in the first book is followed here. In chronological order feature articles, interviews, speeches in the Maltese and European Parliaments and elsewhere, blogs and various documents as presented when events were unfolding. This makes for some repetition, but might give a feel for how challenges were being met when and as the euro zone struggled to keep going within a globalised context. A timeline lists significant events marking the euro’s history. The period January 2012 to February 2015 was characterised by efforts to provide the euro zone with protective structures that could absorb emerging shocks. The effort was largely successful, at least in financial terms. A new fiscal pact bound member states to really respect their obligations under the Stability and Growth Pact of

12

Preface 13

1997. The setting up of the European Stability Mechanism and measures to establish a banking union were intended to stabilise the euro system. However, in the process, tremendous political, social and human costs were incurred. Austerity became the order of the day, the aim being to achieve fiscal balance for all government budgets. In countries placed under bailout agreements, many citizens were subjected to significant hardships. Meanwhile, the complexity of the new safeguards to protect the euro made governance of the euro system increasingly opaque. Yet, despite the strong medicine that was administered to national economies and budgets, the euro zone remained economically stagnant. Unemployment especially among young people stayed at unacceptably high levels. This has become an essential part of the euro story. Many fear it could undermine the currency’s legitimacy. Even so, the euro remains politically popular with leaders and peoples, including those being bailed out. Malta has been a dutiful follower of the policy guidelines adopted by the euro zone’s main national protagonists. As of 2013, it has bucked the slowdown registered by most European economies, for special reasons that cannot be taken for granted in the future. However, the trends towards greater involvement in national decision making by central institutions of the euro zone have already had an impact on how things are done. Some of these trends are reviewed in Malta and the euro (2). In all this, a central dilemma is whether the euro zone wants to, or can, accomplish the next “logical” step in building an economic and monetary union – that of setting up a political federation. Chapters of this book deal with this


problem in a polemical manner perhaps, but one which tries to keep away from partisanship. As at 2015, developments in the euro zone remain a continuing story.


I. IL-FATTI/THE FACTS

1997 – Frar 2015/1997 – February 2015


01

KRONOLOÌIJA TAL-KRIÛI

TAL-EWRO

1997

Ji©i maqbul il-Patt g˙al Stabbiltà u Tkabbir, biex permezz tieg˙u, qabel jittie˙ed il-pass lejn l-g˙aqda ekonomika u monetarja tal-Ewropa bid-d˙ul tal-ewro, jassigura li tinΩamm dixxiplina fiskali bejn l-istati membri tal-Unjoni Ewropea. Il-Patt ikollu l-g˙an li jkejjel kif l-istati membri qed jirrispettaw kriterji çari dwar id-defiçit annwali fil-ba©it u fid-dejn nazzjonali: prinçipalment li d-defiçit fil-ba©it annwali ta’ gvern ikun anqas minn 3 fil-mija tal-Prodott Gross Domestiku tal-pajjiΩ, u li d-dejn nazzjonali ma jaqbiΩx 60 fil-mija tal-Prodott Gross Domestiku. Fil-prattika, fis-snin ta’ wara, kwaΩi l-membri kollha tal-Unjoni Ewropea, f’xi ˙in jew ie˙or se jiksru dawn il-kriterji.

01 ta’ Jannar 1999

L-ewro b˙ala pass essenzjali tal-g˙aqda ekonomika u monetarja tal-Ewropa jid˙ol fis-se˙˙ g˙al dawn il-pajjiΩi tal-Unjoni Ewropea: il-Ìermanja, Franza, l-Italja, Spanja, l-

17


Olanda, il-Bel©ju, il-Lussemburgu, l-Awstrija, il-Finlandja, l-Irlanda u l-Portugall.


Il-Greçja ting˙aqad maΩ-Ωona ewro. Jid˙lu fiç-çirkolazzjoni b˙ala valuta nazzjonali tal-pajjiΩi kollha membri taΩ-Ωona, noti u muniti tal-ewro.

23 ta’ Marzu 2005

Il-mexxejja tal-istat u tal-gvern tal-Unjoni Ewropea jaqblu biex jag˙mlu aktar flessibbli r-regoli li bihom jit˙addem il-Patt g˙al Stabbiltà u Tkabbir.


Is-Slovenja tid˙ol membru taΩ-Ωona ewro.

10 ta’ Lulju 2007

Il-ministri tal-finanzi taΩ-Ωona ewro jag˙tu l-qbil finali g˙ad-d˙ul ta’ Malta u Çipru fiΩ-Ωona ewro.

17 ta’ Lulju 2007

Tiskatta kriΩi fil-banek tal-Istati Uniti, li tinfirex mal-banek tad-dinja wara li jikkollassa s-suq tal-proprjetà Amerikan. Dan ©ie kommerçjalizzat fuq skala massiçça, permezz ta’ obbligi finanzjarji mibjug˙a mad-dinja kollha, li fihom jidda˙˙lu varjetà s˙i˙a, tajba u ˙aΩina, ta’ ftehimiet ta’ self fuq xiri ta’ proprjetà. Il-˙ames l-akbar bank Amerikan Bears Stearns i˙abbar li g˙amel telf enormi. Jumejn wara, il-Bank Çentrali Amerikan, il-Federal Reserve, i˙abbar li l-kriΩi se ti©i tiswa $100 biljun.



Malta u Çipru jda˙˙lu l-ewro b˙ala l-munita nazzjonali tag˙hom.

17 ta’ Frar 2008

Wara xhur ta’ problemi kbar, il-bank IngliΩ Northern Rock ji©i nazzjonalizzat.

17 ta’ Marzu 2008

Bears Stearns jinxtara bl-ir˙is minn JPMorgan Chase.

15 ta’ Settembru 2008

Wara li jkun ̇ abbar telf enormi, il-bank Amerikan Lehmann Brothers jiddikjara falliment.


L-Irlanda tiddikjara li se tiggarantixxi d-depoΩiti kollha miΩmuma f’banek IrlandiΩi. Fix-xhur ta’ wara, il-gvern IrlandiΩ jo˙ro© biljuni ta’ ewro biex isalva bank wara ie˙or.

Settembru – Ottubru 2008

Il-kriΩi tal-“credit crunch”, kif tibda tissejja˙, tibqa’ tinvolvi numru dejjem akbar ta’ banek u istituzzjonijiet finanzjarji b˙al Merill Lynch, American International Group, Royal Bank of Scotland u Lloyds TSB. Fuq l-eΩempju tar-Renju Unit, l-Istati Uniti u pajjiΩi ewlenin Ewropej ikollhom jintervjenu direttament b’fondi statali f’ammonti kbar ˙alli jsalvaw banek u istituzzjonijiet finanzjarji kbar mill-g˙arqa.

�0 MALTA u l-ewro/& the euro (2)

06 ta’ Ottubru 2008

Wara li jie˙u f’idejh 75 fil-mija tal-ishma tal-bank Glitnir, it-tielet l-akbar wie˙ed fil-pajjiΩ, il-gvern tal-IΩlanda jo˙ro© garanzija bla limitu lid-depoΩitanti fil-banek IΩlandiΩi. Fil-jumejn ta’ wara, il-gvern jie˙u f’idejh l-aqwa tliet banek tal-IΩlanda. Il-gvern IngliΩ jiffriΩa l-assi li l-akbar bank IΩlandiΩ Kaupthing ikollu fir-Renju Unit.

20 ta’ Novembru 2008

L-IΩlanda ting˙ata self ta’ $�.1 biljun mill-Fond Monetarju Internazzjonali.


Is-Slovakkja tid˙ol fiΩ-Ωona ewro.


Il-Prim Ministru IΩlandiΩ Haarde jsejja˙ elezzjoni g˙al Mejju, imma jumejn wara, il-gvern ta’ koalizzjoni tieg˙u jikkollassa.

27 ta’ Mejju 2009

Il-Kummissjoni Ewropea tipproponi t-twaqqif ta’ strutturi ©odda biex bihom tkun tista’ ssir sorvelja a˙jar tal-banek u tal-istituzzjonijiet finanzjarji fl-Ewropa. Fost dawn il-miΩuri titwaqqaf Sistema ta’ Supervisors Finanzjarji Ewropej. Din ting˙ata l-˙idma li teΩamina l-operat tal-banek kbar Ewropej biex tittestja kemm jistg˙u jilqg˙u g˙al Ωviluppi ekonomiçi u finanzjarji diffiçli. Proçedura hekk (imsej˙a stress test) tkun bdiet issir fl-Istati Uniti wara l-kriΩi finanzjarja tas-sena �007/�008.



Il-ministri tal-finanzi tal-Unjoni Ewropea j˙abbru li ntemm l-istress test li twettaq fuq il-banek ewlenin Ewropej biex isir mag˙ruf kemm jistg˙u jilqg˙u g˙al çaqliq negattiv fil-qag˙da ekonomika u finanzjarja Ewropea. Il-banek kollha jinstabu f’qag˙da li jeg˙lbu d-diffikultajiet li jistg˙u jinqalg˙u. Ir-riΩultati tat-testijiet ma ji©ux ippubblikati. Tqum kritika dwar is-siwi ta’ dawn il-konkluΩjonijiet.


Il-partit soçjal-demokratiku PASOK jirba˙ l-elezzjonijiet Griegi. Isib ˙ofra enormi fil-finanzi tal-gvern.


Il-Greçja tvara programm finanzjarju ta’ “stabbiltà u tkabbir” ma˙sub biex inaqqas id-defiçit tal-gvern minn 1�.7 fil-mija tal-Prodott Gross Domestiku fl-�009 g˙al �.8 fil-mija fis-sena �01�. Il-programm ida˙˙al awsterità qawwija fit-tmexxija tal-gvern u jag˙ti bidu g˙al sensiela twila ta’ dimostrazzjonijiet, protesti u strajkijiet mal-Greçja kollha.

15 ta’ Marzu 2010

Il-ministri tal-finanzi tal-Unjoni Ewropea jaqblu li g˙andha ting˙ata g˙ajnuna lill-Greçja, minkejja li dan imur kontra l-Patt ta’ Stabbiltà u Tkabbir, li jis˙aq kif kull pajjiΩ membru tal-g˙aqda ekonomika u monetarja jrid wa˙du jiΩgura li l-finanzi pubbliçi tieg˙u jibqg˙u jsegwu r-regoli tal-Patt.

11 ta’ April 2010

Il-mexxejja tal-g˙aqda monetarja Ewropea (Ωona ewro)


jaqblu fuq pjan ta’ salvata©© tal-Greçja billi, fuq baΩi bilaterali, kull pajjiΩ fiΩ-Ωona ewro jo˙ro© self lill-Greçja g˙al ammont li b’kollox irid ila˙˙aq 80 biljun, li jin˙are© fuq tliet snin. Is-sehem totali ta’ Malta f’das-self ila˙˙aq 74.5 miljun. Sadattant jiΩdied inkwiet dwar il-qag˙da

finanzjarja tal-Irlanda, il-Portugall u Spanja.

06 ta’ Mejju 2010

Ir-riΩultati tal-elezzjonijiet fir-Renju Unit jispiççaw ming˙ajr ma©©oranza çara fil-Parlament, bil-Partit Konservattiv immexxi minn David Cameron jirba˙ l-akbar numru ta’ voti imma anqas minn ma©©oranza ta’ si©©ijiet. Fit-1� ta’ Mejju, il-Konservattivi jiftiehmu mal-Partit Liberali biex iwaqqfu gvern ta’ koalizzjoni u Cameron isir Prim Ministru.

08-09 ta’ Mejju 2010

Il-pajjiΩi kollha membri tal-Unjoni Ewropea jiddeçiedu li jwaqqfu fond temporanju msejja˙ il-EFSF (European Financial Stability Facility: Façilità Ewropea g˙all-Istabbiltà Finanzjarja, FIFE) b’potenzjal li jsellef sa 440 biljun permezz ta’ garanziji mog˙tija mill-istati membri. L-EFSF jitwaqqaf qisu kumpanija finanzjarja privata bil-g˙an li jkun jista’ jag˙ti appo©© finanzjarju lill-pajjiΩi membri taΩ-Ωona ewro meta jinqalg˙ulhom diffikultajiet. Is-sehem ta’ Malta f’dil-Façilità b˙ala garanziji hu ta’ 398.44 miljun.

Jintla˙aq ukoll qbil li g˙andu jitwaqqaf fond ie˙or, li jla˙˙aq sa 60 biljun garantiti mill-Unjoni Ewropea direttament, u mmexxi mill-Kummissjoni Ewropea, biex jipprovdi g˙ajnuna finanzjarja lill-membri tal-Unjoni li jsibu ru˙hom f’diffikultà. Dal-Fond jissemma MekkaniΩmu Ewropew g˙all-Istabbiltà Finanzjarja.

Kronolo©ija tal-kriΩi tal-ewro �3

Il-mexxejja taΩ-Ωona ewro jaqblu li l-˙idma ta’ salvata©© finanzjarju favur il-Greçja titla’ sa 100 biljun f’self bl-uΩu ta’ dawn iΩ-Ωew© fondi, liema pajjiΩ ikollu jaççetta li esperti mill-Fond Monetarju Internazzjonali, il-Bank Çentrali Ewropew u l-Kummissjoni Ewropea (imlaqqma t-“trojka”) jissorveljaw il-miΩuri ta’ awsterità li l-Greçja se tkun qed twettaq.

11 ta’ Mejju 2010

Il-Parlament Malti japprova s-sehem ta’ Malta fil-pjan ta’ salvata©© g˙all-Greçja tal-11 ta’ April �010, billi jawtorizza lill-gvern Malti jissellef sa 30 miljun ˙alli jkun jista’ jag˙mel l-ewwel kontribuzzjoni tieg˙u lill-Greçja.

17 ta’ Ìunju 2010

Waqt li jaqblu biex isir stress test ie˙or tal-banek Ewropej ewlenin, il-mexxejja tal-Unjoni Ewropea jaqblu wkoll li biex jikkalmaw id-dubji fis-swieq finanzjarji, did-darba se jippubblikaw ir-riΩultati.

14 ta’ Lulju 2010

Il-Parlament Malti japprova s-sehem ta’ Malta fil-Façilità Ewropea g˙all-Istabbiltà Finanzjarja.

23 ta’ Lulju 2010

Ji©u ppubblikati r-riΩultati tal-istress tests li jkunu saru fuq banek Ewropej ewlenin ta˙t kundizzjonijiet aktar iebsa milli sar fl-�009. Seba’ banek ma jg˙addux mit-test. Il-Bank of Valletta ji©i kkunsidrat b˙ala bank li mhux se jqajjem problemi. Madankollu l-metodu li bih it-testijiet qed jitmexxew ikompli ji©bed kritika minn fost l-analisti finanzjarji g˙ax ma jqisux li t-testijiet qed ikunu severi biΩΩejjed.



Il-Kunsill tal-Unjoni Ewropea jaqbel li g˙andu jkun hemm emenda fit-trattat tal-Unjoni Ewropea biex tippermetti t-twaqqif ta’ fond permanenti ©did, il-MekkaniΩmu ta’ Stabbiltà Ewropea, (MSE).


L-Irlanda, li kienet tat garanzija lill-banek kollha tag˙ha li mhix se t˙allihom jeg˙rqu u qed tispiçça b’defiçit enormi, taççetta l-g˙ajnuna tal-pajjiΩi fiΩ-Ωona ewro biex ma jkollhiex t˙allas img˙axijiet kbar wisq fuq is-self li mg˙obbija bih.


Il-pajjiΩi Ewropej flimkien mal-Fond Monetarju Inter-nazzjonali jaqblu fuq salvata©© tal-Irlanda b’pakkett ta’ self li jla˙˙aq 85 biljun. Min-na˙a tag˙ha, l-Irlanda dda˙˙al miΩuri ta’ awsterità bla preçedent.


L-Estonja ting˙aqad fiΩ-Ωona ewro li b’hekk issa tla˙˙aq 17-il membru.

01 ta’ Frar 2011

Il-Prim Ministru Brian Cowen tal-Fianna Fail isejja˙ elezzjonijiet bikrin fl-Irlanda. Waqt li jibqa’ jiΩdied id-dwejjaq fost il-pubbliku bil-miΩuri ta’ awsterità li qed jittie˙du u dwar il-pjan ta’ salvata©© konkluΩ maΩ-Ωona ewro, iqum diΩgwid kbir fi ˙dan il-koalizzjoni tal-gvern bejn il-Partit tal-Óodor u l-Fianna Fail. Il-Óodor imorru fl-OppoΩizzjoni u jwieg˙du li se jivvutaw favur partijiet biss mill-ba©it tas-


sena. Fl-a˙˙ar il-ba©it jg˙addi g˙ax jintla˙aq ftehim mal-OppoΩizzjoni biex, hekk kif ji©i approvat mill-Parlament, tissejja˙ elezzjoni.

28 ta’ Frar 2011

Fl-elezzjonijiet IrlandiΩi, il-Fine Gael immexxi minn Edna Kenny g˙all-ewwel darba fl-istorja tieg˙u jsir l-akbar partit, waqt li l-Fianna Fail, li dejjem kien l-akbar partit politiku IrlandiΩ, jitlef aktar minn nofs il-voti mi©juba minnu fl-elezzjoni ta’ qabel. Fine Gael jid˙ol f’koalizzjoni mal-Partit Laburista li hu wkoll iΩid sew fil-voti. Il-gvern il-©did i˙abbar impenn biex jikseb kundizzjonijiet a˙jar g˙all-ftehim mil˙uq mill-gvern ta’ qablu maΩ-Ωona ewro. Itenni li se jiddefendi akkost ta’ kollox il-politika IrlandiΩa li biha l-kumpaniji j˙allsu taxxa baxxa ˙afna fuq il-profitti tag˙hom, politika li qed tkun ikkritikata bil-kbir minn mexxejja taΩ-Ωona ewro, bi Franza fuq quddiem nett.

23 ta’ Marzu 2011

Wara li g˙al xhur, ikun da˙˙al miΩuri ta’ awsterità biex jilqa’ g˙all-problemi finanzjarji tal-gvern ming˙ajr ma jkollu g˙alfejn jistrie˙ fuq l-appo©© tal-Unjoni Ewropea, il-Prim Ministru soçjalista PortugiΩ Socrates jitlef vot fil-Parlament fuq ba©it ie˙or ta’ awsterità. Isejja˙ elezzjonijiet bikrin.

25 ta’ Marzu 2011

Il-pajjiΩi taΩ-Ωona ewro jaqblu fuq trattat intergovernattiv bejniethom biex iwaqqfu l-MekkaniΩmu g˙all-Istabbiltà Ewropea, fond li jkollu l-g˙an li jid˙ol minflok il-Façilità g˙all-Istabbiltà Finanzjarja Ewropea, li g˙andu jiΩΩarma. Il-MekkaniΩmu g˙all-Istabbiltà Ewropea jag˙ti appo©©


finanzjarju lill-membri taΩ-Ωona ewro meta ji©u f’diffikultà, b’ organizzazzjoni permanenti li tibda topera mis-sena �013, b’parteçipazzjoni mill-pajjiΩi membri taΩ-Ωona ewro u pajjiΩi o˙ra fl-Unjoni Ewropea li jixtiequ jie˙du sehem. Il-membri tal-fond jipparteçipaw billi jissottoskrivu l-kapital tag˙hom ˙alli l-MekkaniΩmu jkun jista’ jsellef sa massimu ta’ 500 biljun. Is-sehem kapitali ta’ Malta hu stmat g˙al 511.7 miljun.

Jintla˙aq ukoll qbil fuq patt imsejja˙ l-“euro plus” biex il-membri taΩ-Ωona ewro jsa˙˙u b’mod tassattiv il-koordinament ekonomiku u s-sorvelja finanzjarja bejniethom. F’oqsma b˙al dawk tat-tassazzjoni, tal-mod kif id-defiçit pubbliku jinΩamm ta˙t kontroll, tal-pensjonijiet, tal-inkora©©iment lill-investiment ©did u tal-politika favur it-tkabbir ekonomiku huma jiftiehmu li se jΩommu front mag˙qud.

06 ta’ April 2011

Il-Portugall jitlob g˙ajnuna finanzjarja mill-Unjoni Ewropea u l-Fond Monetarju Internazzjonali.

17 ta’ April 2011

F’elezzjonijiet fil-Finlandja, il-partit populista FinlandiΩi ta’ Veru jil˙aq lit-tliet partiti l-kbar l-o˙ra, wara kampanja fejn jikkritika bil-qawwa l-g˙ajnuna finanzjarja li Ω-Ωona ewro se tag˙ti lill-Portugall. Waqt li l-Partit taç-Çentru li jkun mexxa l-koalizzjoni tal-gvern imur fl-OppoΩizzjoni, jinΩammu negozjati twal bejn il-partiti l-o˙ra sakemm fit-�� ta’ Ìunju jitwaqqaf gvern ta’ koalizzjoni, li minnu jkunu mwarrba l-FinlandiΩi ta’ Veru. Sitt partiti jing˙aqdu mal-gvern ta˙t it-tmexxija b˙ala Prim Ministru ta’ Jyrki Katainen, mill-Partit tal-Koalizzjoni Nazzjonali, Ministru


tal-Finanzi fil-kabinett ta’ qabel l-elezzjoni. Kemm matul dawn in-negozjati u kemm wara, il-Finlandja ssostni attitudni iebsa fid-diskussjonijiet dwar appo©© finanzjarju lill-pajjiΩi dg˙ajfa taΩ-Ωona ewro, mhux l-anqas biex il-FinlandiΩi ta’ Veru ma jkomplux iΩidu fil-popolarità. Il-koalizzjoni l-©dida fil-gvern tinsisti li biex il-Finlandja ssellef lill-pajjiΩi li jkunu f’diffikultà, dawn iridu jaqblu li jbig˙u l-assi tag˙hom u jag˙tu ple©© g˙al self li jirçievu minn pajjiΩi o˙ra membri taΩ-Ωona ewro.

03 ta’ Mejju 2011

Jit˙abbar ftehim dwar pakkett ta’ g˙ajnuna g˙all-Portugall permezz tal-Façilità g˙all-Istabbiltà Finanzjarja Ewropea, marbut ma’ miΩuri ©odda ta’ awsterità.

17 ta’ Mejju 2011

Il-Portugall jing˙ata self miΩ-Ωona ewro li jla˙˙aq 78 biljun. Parti minnu se to˙ro© mill-Façilità g˙all-Istabbiltà Finanzjarja Ewropea u parti mill-MekkaniΩmu Ewropew g˙all-Istabbiltà Finanzjarja. B˙al fil-kaΩ tal-Greçja u l-Irlanda, is-self jintrabat ma’ miΩuri ©odda ta’ awsterità li l-Portugall ikollu jie˙u bla dewmien.

Jannar–Ìunju 2011

Il-qag˙da finanzjarja tal-Greçja tkompli te˙Ωien, bi protesti dejjem qawwija g˙addejja kontra l-miΩuri ta’ awsterità. TiΩdied il-pressjoni, mhux l-anqas mill-Ìermanja, biex il-banek u l-istituzzjonijiet finanzjarji li sellfu flus lill-Greçja matul is-snin jaççettaw tqasqis (“haircut”) fil-flejjes li sellfu, ming˙ajr ma dan jittie˙ed b˙ala li l-Greçja falliet. Min-na˙a l-o˙ra, fil-Ìermanja u f’pajjiΩi o˙ra li kellhom finanzi sodi (b˙all-Finlandja) l-opinjoni pubblika ssir kontra li ting˙ata


g˙ajnuna lill-pajjiΩi taΩ-Ωona ewro mitqiesa b˙ala ˙alja u g˙aΩΩenin.


F’elezzjonijiet ©enerali miΩmuma fil-Portugall b’parte-çipazzjoni elettorali baxxa ˙afna, il-Partit Soçjalista fil-gvern jitlef u l-Partit Soçjal-Demokratiku, immexxi minn Passos Coelho, jag˙mel reb˙iet kbar. Fit-�� ta’ Ìunju, wara negozjati mal-Partit Demokristjan, Passos Coelho jifforma gvern ta’ koalizzjoni mieg˙u.

11 ta’ Lulju 2011

Il-ministri tal-finanzi taΩ-Ωona ewro jiffirmaw it-trattat li jwaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea.

11 ta’ Lulju 2011

SpluΩjoni kbira f’baΩi militari f’Çipru tkisser l-impjant ewlieni fil-gΩira g˙all-produzzjoni tal-elettriku. Fit-t˙arbit li jinqala’, iqum t˙assib dwar jekk Çipru hux se jkollu jitlob g˙ajnuna finanzjarja mill-Unjoni Ewropea, peress li l-banek tal-gΩira jinsabu maqbuda sew f’self fil-Greçja, l-ekonomija sejra lura u qed tiΩdied l-instabbiltà politika.

15 ta’ Lulju 2011

Ji©u ppubblikati r-riΩultati tat-tielet stress tests annwali fuq banek ewlenin Ewropej. Minn 90 bank eΩaminat, 8 ifallu t-test u 16 bilkemm jg˙addu. Il-Bank of Valletta jer©a’ jinstab f’sura li jista’ jilqa’ g˙al Ωviluppi negattivi qawwija fiΩ-Ωona ewro. Xorta wa˙da, analisti finanzjarji jikkritikaw it-testijiet g˙ax iqisu li mhumiex jiflu jekk il-banek hux se jkunu lesti jilqg˙u g˙al ©rajjiet b˙all-falliment eventwali tal-Greçja.


21 ta’ Lulju 2011

Minkejja l-miΩuri ta’ awsterità li l-Greçja qed tie˙u u s-self li jsirilha, ftit li xejn ise˙˙ titjib fil-qag˙da finanzjarja tag˙ha. Il-mexxejja taΩ-Ωona ewro jikkonvinçu lill-banek li sellfu l-fondi lill-Greçja biex jaççettaw tnaqqis ta’ �1 fil-mija fil-valur tas-self tag˙hom, ming˙ajr ma l-Greçja ti©i dikjarata falluta. Dan ji©i stmat li jammonta g˙al tnaqqis ta’ 37 biljun fid-dejn tal-Greçja. Biss hemm g˙arfien li, bi tnaqqis b˙al dan, ˙afna banek Ewropej se ji©u affettwati ˙aΩin. Ti©i deçiΩa Ωieda fl-g˙ajnuna finanzjarja permezz ta’ self miΩ-Ωona ewro lill-Greçja, liema Ωieda to˙ro© did-darba mill-Façilità g˙all-Istabbiltà Finanzjarja Ewropea, u mhux b’self dirett mill-pajjiΩi membri taΩ-Ωona. Ji©i stmat li b’dan, l-g˙ajnuna totali indirizzata lejn il-Greçja miΩ-Ωona ewro se tla˙˙aq 109 biljun. Barra minn dan, il-kundizzjonijiet ta’ self mog˙ti lill-Greçja, lill-Irlanda u lill-Portugall jit˙affu. Fl-istess waqt, ji©i deçiΩ li l-Façilità g˙all-Istabbiltà Finanzjarja Ewropea se twessa’ l-modi kif tista’ ta˙dem, pereΩempju billi tixtri t-titoli ta’ dejn ma˙ru©a mill-istati membri taΩ-Ωona ewro. Ti©i dotata b’aktar garanziji mill-istati membri ˙alli tkun tista’ ssellef sa ammont ta’ 780 biljun. Is-sehem f’garanziji ta’ Malta jiΩdied minn 398.44 miljuni g˙al 704.33 miljuni.

Lulju–Settembru 2011

Ikompli t-tbaqbiq fis-swieq finanzjarji dwar pajjiΩi taΩ-Ωona ewro, mhux biss il-Greçja, imma wkoll Spanja u l-Italja. Fid-�9 ta’ Lulju, il-Prim Ministru Spanjol Zapatero jsejja˙ elezzjoni g˙al Novembru �011, erba’ xhur qabel iΩ-Ωmien. Jistqarr li hu mhux se jikkontesta. Jibqg˙u jsiru dimostrazzjonijiet kbar f’Madrid u bliet o˙ra kontra l-


miΩuri ta’ awsterità mda˙˙la mill-gvern u kontra l-qg˙ad. F’Ruma l-gvern Berlusconi jda˙˙al programm ta’ awsterità li ma jitte˙idx bis-serjetà, la mis-swieq u lanqas mill-mexxejja Ewropej. Il-Bank Çentrali Ewropew jibg˙at ittra ta’ twissija lill-gvern Taljan li tibqa’ fuq l-ixkaffa. Isiru dimostrazzjonijiet b’irvell f’Ruma. F’Settembru, il-gvern FrançiΩ i˙abbar miΩuri ta’ awsterità biex jilqa’ g˙al suspetti li l-qag˙da finanzjarja ta’ Franza qed te˙Ωien.


B’˙afna ta˙bit, wara li l-Qorti Kostituzzjonali ÌermaniΩa tkun iddikjarat li l-Bundestag g˙andu japprova kull bidla li ssir fl-arran©amenti dwar l-ewro, il-gvern tal-Kançillier Merkel jg˙addi mill-Parlament il-pakkett ta’ miΩuri ta’ g˙ajnuna approvati mill-mexxejja taΩ-Ωona ewro fil-�1 ta’ Lulju, liema miΩuri di©à qed jitqiesu li mhux se jkunu biΩΩejjed.


Il-Parlament Malti japprova s-sehem ta’ Malta fil-miΩuri deçiΩi fil-�1 ta’ Lulju. Sa dal-punt, il-flus li Malta tkun ˙ar©et g˙as-self Grieg ila˙˙aq l-ammont ta’ 44 miljun.


Il-Parlament Slovakk, l-a˙˙ar wie˙ed mis-sbatax taΩ-Ωona ewro mitlub biex japprova l-miΩuri tal-�1 ta’ Lulju, jivvota kontra. Jumejn wara l-pakkett jg˙addi hekk kif tirriΩenja l-Prim Ministru Iveta Radicova, jitwaqqaf gvern transitorju u jissej˙u elezzjonijiet bikrija.


Wara diskussjonijiet bilaterali bejn il-Kançillier ÌermaniΩa


Merkel u l-President FrançiΩ Sarkozy, il-mexxejja tal-Unjoni Ewropea u taΩ-Ωona ewro jiltaqg˙u biex ida˙˙lu aktar miΩuri ta’ ˙arsien tal-ewro u biex japprovaw il-˙ru© ta’ parti o˙ra mis-self imwieg˙ed lill-Greçja. Isir qbil li kull pajjiΩ irid jiΩgura li l-kapital tal-banek tieg˙u se jitkabbar biex ikunu jistg˙u jΩommu fil-wiçç g˙al li ©ej. Il-laqg˙at ji©u a©©ornati g˙al tlett ijiem biex Merkel tkun tista’ titlob l-approvazzjoni tal-Parlament ÌermaniΩ g˙all-miΩuri l-©odda li qed ji©u proposti. Sadattant, l-Italja ti©i mwiddba biex minnufih tippreΩenta pjan serju g˙al kif se tnaqqas id-dejn tag˙ha, li jla˙˙aq 1�0 fil-mija tal-Prodott Gross Domestiku.


Il-Parlament ÌermaniΩ japprova l-miΩuri ©odda li se jitpo©©ew quddiem il-mexxejja taΩ-Ωona ewro.

26/27 ta’ Ottubru 2011

Jer©g˙u jiltaqg˙u l-mexxejja taΩ-Ωona ewro. F’diskussjonijiet separati li jinΩammu mal-bankiera fl-istess ˙in, jintla˙aq arran©ament li bih is-self tal-Greçja mas-settur privat se jitnaqqas bin-nofs, biex jippermetti lill-pajjiΩ ila˙˙aq çifra ta’ dejn nazzjonali ugwali g˙al 1�0 fil-mija tal-Prodott Gross Domestiku sas-sena �0�0. Ji©i approvat il-˙ru© ta’ parti o˙ra mis-self lill-Greçja. Sadattant, il-qawwa tal-Façilità g˙all-Istabbiltà Finanzjarja Ewropea tittella’ g˙al aktar minn triljun ewro, ming˙ajr ma ˙add mill-pajjiΩi membri se jkollhom g˙alfejn iΩidu l-impenji finanzjarji tag˙hom. Ji©i approvat pjan ©did ta’ awsterità g˙all-Italja mressaq mill-gvern ta’ Berlusconi. Ukoll, il-laqg˙a tal-mexxejja taΩ-Ωona ewro tis˙aq

3� MALTA u l-ewro/& the euro (2)

fuq il-˙tie©a li jit˙addmu miΩuri ta’ dixxiplina, sorvelja u koordinament dwar il-ba©its nazzjonali tal-pajjiΩi membri taΩ-Ωona. G˙all-bidu, dawn id-deçiΩjonijiet jintlaqg˙u b’sodisfazzjon b˙ala pass kbir ’il quddiem.


Fis-swieq finanzjarji, minkejja l-ftehim mil˙uq fi Brussell, ir-rati ta’ “img˙ax” fuq is-self tal-gvern Taljan jiΩdiedu bil-kbir, sinjal li l-investituri mhumiex jie˙du bis-serjetà l-proposti dwar il-finanzi pubbliçi Taljani. Fi Ωvilupp separat, il-Prim Ministru Grieg Papandreou j˙abbar li se jsejja˙ referendum dwar il-ftehim mil˙uq. Did-deçiΩjoni tqajjem rabja fi Franza u l-Ìermanja u konfuΩjoni s˙i˙a fiΩ-Ωona ewro.

01-03 ta’ Novembru 2011

B’dimostrazzjonijiet ma jaqtg˙u xejn f’Ateni u bliet o˙ra Griegi, Papandreou jissejja˙ biex jiltaqa’ f’Cannes ma’ Merkel u Sarkozy. Iqum diΩgwid fil-kabinett Grieg u Papandreou jirtira l-proposta g˙al referendum. L-g˙ada jirba˙ bi Ωbrixx vot fil-Parlament favur l-addozzjoni tal-ftehim mil˙uq fi Brussell, wara li j˙abbar li bi˙siebu jirriΩenja biex jitwaqqaf gvern transitorju ˙alli jorganizza elezzjonijiet qabel il-waqt.


Il-gvern ta’ Berlusconi fl-Italja ma jirnexxilux i©ib il-voti tal-ma©©oranza tad-deputati fil-Parlament favur il-miΩuri maqbula mal-mexxejja Ewropej, kif imda˙˙la fil-ba©it tal-gvern. Il-miΩuri jg˙addu g˙ax id-deputati tal-OppoΩizzjoni jastjenu. Il-Prim Ministru Berlusconi jwieg˙ed li se jirriΩenja malli l-miΩuri jkunu g˙addew malajr kemm jista’ jkun mis-Senat.



Il-Kunsill tal-Ministri tal-Unjoni Ewropea jaddotta sitt deçiΩjonijiet b’regoli tassattivi dwar kif l-istati membri taΩ-Ωona ewro g˙andhom iwettqu l-Patt ta’ Stabbiltà u ta’ Tkabbir tas-sena 1997. Jekk fit-tmexxija tal-ba©it, gvern ma josservax ir-regoli ©odda, se ji©i so©©ett g˙al miΩuri ta’ “dixxiplina” u multi b’mod kwaΩi awtomatiku. Dawn id-deçiΩjonijiet, imlaqqma is-“six-pack”, isegwu minn negozjati twal bejn il-Kummissjoni Ewropea, l-istati membri tal-ewro u l-Parlament Ewropew.


Il-Prim Ministru Grieg Papandreou jirriΩenja. Jumejn wara, fi tmiem negozjati twal bejn il-partiti Griegi, jitwaqqaf gvern transitorju mmexxi minn eks Viçi President tal-Bank Çentrali Ewropew, Lucas Papademos, li fi Ωmien mitt jum, irid jorganizza elezzjonijiet ©odda.


Il-Prim Ministru Taljan Berlusconi jirriΩenja hekk kif, b’vot tas-Senat, jg˙addi l-pakkett ta’ awsterità li l-gvern qed jipproponi biex jilqa’ g˙all-esi©enzi tal-mexxejja taΩ-Ωona ewro u g˙all-pressjoni dejjem tikber tas-swieq finanzjarji fuq is-self Taljan. L-g˙ada tar-riΩenja, Mario Monti, eks Kummissarju Ewropew, ji©i appuntat Prim Ministru.


Fl-elezzjoni ©enerali ta’ Spanja, il-Partit Popolari tal-OppoΩizzjoni jirba˙ ma©©oranza kbira, hekk kif il-vot tal-PSOE, il-Partit Soçjalista fil-gvern, jikkollassa.



Fil-Portugall jinΩamm strajk ©enerali bi protesta kontra l-miΩuri ta’ awsterità, fosthom Ωidiet fit-taxxi u tnaqqis fil-kundizzjonijiet tal-impjiegi mal-gvern, imda˙˙la tul l-ewwel xhur tal-gvern ta’ koalizzjoni mmexxi mill-Prim Ministru Soçjal-Demokratiku Passos Coelho. Dawn il-miΩuri jsiru skont il-ftehim ta’ g˙ajnuna finanzjarja mil˙uq maΩ-Ωona ewro u mal-Fond Monetarju Internazzjonali.

Novembru/bidu ta’ Diçembru 2011

Tikber sfiduçja finanzjarja fis-swieq lejn self ma˙ru© minn pajjiΩi ewro, fuq quddiem nett l-Italja u Spanja. L-a©enziji li jkejlu kemm g˙andha ting˙ata fiduçja lill-impriΩi u pajjiΩi (rating agencies) iwissu li pajjiΩi kbar, Franza inkluΩa, jag˙tu lok g˙al t˙assib. Banek u istituzzjonijiet finanzjarji Ewropej jibdew i˙allu d-depoΩiti tag˙hom mal-Bank Çentrali Ewropew minflok isellfuhom lil xulxin minn jum g˙al jum, kif soltu ji©ri. Tibda tixxotta l-likwidità tal-banek fl-Ewropa, b’mod li jista’ jΩommhom milli jla˙˙qu mal-obbligi li jkunu da˙lu g˙alihom. Il-banek çentrali tal-ekonomiji l-kbar jiftiehmu li jillaxkaw ir-regoli ta’ tmexxija tag˙hom biex jippermettu li dil-problema tittaffa.

07 ta’ Diçembru 2011

F’laqg˙a bejn il-Kançillier ÌermaniΩa Merkel u l-President FrançiΩ Sarkozy jintla˙aq qbil fuq x’g˙andu jsir aktar dwar l-a˙˙ar Ωviluppi fil-kriΩi tal-ewro. Huma jibag˙tu ittra bil-proposti tag˙hom lill-President tal-Kunsill Ewropew van Rompuy u lill-President tal-Kummissjoni Ewropea Barroso.


08-09 ta’ Diçembru 2011

Fil-Kunsill Ewropew ma jintla˙aqx qbil dwar ftehim ©did fuq g˙aqda fiskali fiΩ-Ωona ewro wara li r-Renju Unit jitlob garanziji dwar is-settur finanzjarju tieg˙u u dawn ma jing˙atawlux. Isir qbil li l-pajjiΩi taΩ-Ωona ewro u pajjiΩi o˙ra li jiddeçiedu li jag˙mlu hekk mill-bqija tal-Unjoni Ewropea jiftiehmu bejniethom sa Marzu �01� biex fi trattat intergovernattiv ida˙˙lu l-proposti dwar g˙aqda fiskali mressqa minn Merkel u Sarkozy. Fosthom g˙andu jkun hemm regola fil-kostituzzjoni ta’ kull pajjiΩ, biex id-defiçit tal-gvernijiet fiΩ-Ωona ewro jinΩamm bilfors ta˙t çertu limitu. F’deçiΩjonijiet o˙ra, il-mexxejja jaqblu li l-MekkaniΩmu g˙all-Istabbiltà Ewropea jitwaqqaf minn nofs is-sena �01� minflok is-sena �013; li l-Façilità g˙all-Istabbiltà Finanzjarja Ewropea tkompli topera anki wara li jkun twaqqaf il-MekkaniΩmu; u li l-pajjiΩi membri taΩ-Ωona ewro u o˙rajn mill-Unjoni Ewropea jikkontribwixxu mir-riΩervi tal-banek çentrali tag˙hom is-somma ta’ �00 biljun lill-Fond Monetarju Internazzjonali biex dan ikun jista’ jsellef lill-pajjiΩi tal-ewro li ji©u f’diffikultà (is-sehem ta’ Malta hu stmat g˙al bejn 150 miljun u �00 miljun). Fil-jiem ta’ wara, is-swieq finanzjarji jibqg˙u juru dubji dwar kemm id-deçiΩjonijiet tas-summit Ewropew se jirnexxilhom jeg˙lbu d-diffikultajiet li qed jiffaççja l-ewro.


Waqt li r-Renju Unit jirrifjuta li jie˙u sehem fil-kontribuzzjonijiet li l-mexxejja Ewropej ftiehmu li se jag˙mlu g˙al somma ta’ �00 biljun lill-Fond Monetarju Internazzjonali mill-banek çentrali tag˙hom, jintla˙aq


ftehim bejn pajjiΩi taΩ-Ωona ewro u membri o˙ra tal-Unjoni Ewropea dwar x’sehem se jo˙or©u kull wie˙ed, g˙al kontribuzzjoni totali ta’ 150 biljun; is-sehem ta’ Malta se jla˙˙aq �60 miljun. Jibqa’ nuqqas ta’ qbil dwar jekk il-kontribuzzjonjiet li jridu jsiru mill-pajjiΩi tal-ewro lill-MekkaniΩmu g˙all-Istabbiltà Ewropea g˙andhomx isiru f’salt jew bin-nifs fuq medda ta’ xi snin.


Çipru u r-Russja jiffirmaw ftehim ta’ self g˙al �.5 biljun ewro sabiex il-gΩira tkopri l-˙ti©iet finanzjarji tag˙ha g˙as-sena �01�.


Fi Spanja, il-gvern çentru-lemini tal-Partit Populari mmexxi mill-Prim Ministru Mariano Rajoy i˙abbar li l-iΩbilanç tal-pajjiΩ g˙as-sena �011 se jaqbeΩ it-8 fil-mija tal-Prodott Gross Domestiku (PGD). Dan imur ferm lil hinn mill-mira ta’ 6 fil-mija stabbilita mill-gvern preçedenti.


L-a©enzija ta’ krettu Standard & Poor’s tnaqqas il-kejl ta’ fiduçja g˙al g˙add ta’ pajjiΩi fiΩ-Ωona ewro (l-Awstrija, Çipru, Franza, l-Italja, Malta, il-Portugall, is-Slovakkja, is-Slovenja u Spanja). Ir-ra©uni mog˙tija mill-a©enzija hija li l-mexxejja Ewropej naqsu milli jie˙du azzjoni me˙tie©a u f’waqtha fir-rigward tal-kriΩi fiΩ-Ωona ewro.

Tmiem ta’ Jannar – bidu ta’ Frar 2012

Il-Ministru tal-Finanzi Grieg, Evangelos Venizelos, mill-Partit Soçjal-Demokratiku (PASOK), jiddikjara li se jsir summit ie˙or tal-UE fis-6 ta’ Frar bil-g˙an li jwassal g˙al


ftehim bejn il-Greçja u l-kredituri privati tag˙ha ˙alli tin˙afer parti sostanzjali mid-dejn tal-Greçja mag˙hom. Din il-ma˙fra hi me˙tie©a biex il-Greçja tirçievi l-fondi tat-tieni bailout. Negozjati dwar dan is-su©©ett ilhom wieqfa ©img˙at s˙a˙. Ukoll, il-mexxejja Griegi jaqblu dwar pakkett ©did ta’ miΩuri ta’ awsterità li jer©g˙u jnaqqsu n-nefqa pubblika biex jirçievu l-fondi tat-tieni bailout.

02 ta’ Frar 2012

It-Trattat li jistabbilixxi l-MekkaniΩmu Ewropew ta’ Stabbiltà (MES) ji©i ffirmat mill-istati membri taΩ-Ωona ewro. It-Trattat jinkludi d-deçiΩjonijiet kollha me˙uda mill-kapijiet ta’ stati u gvernijiet taΩ-Ωona ewro sa minn Lulju �011. Dan irid ji©i ratifikat mis-sbatax-il pajjiΩ taΩ-Ωona ewro u g˙andu jid˙ol fis-se˙˙ f’Lulju �01�.

12 ta’ Frar 2012

Filwaqt li g˙addej ©lied vjolenti bejn il-pulizija u dimostranti f’Ateni, il-Parlament Grieg jg˙addi sensiela ©dida ta’ miΩuri ta’ awsterità biex jitlesta pakkett mitlub miΩ-Ωona ewro u l-FMI b˙ala prekondizzjoni g˙al pjan ©did ta’ salvata©© finanzjarju li se jla˙˙aq 130 biljun ewro.

21 ta’ Frar 2012

Il-mexxejja taΩ-Ωona ewro jaqblu dwar it-termini tal-programm g˙at-tieni salvata©© (bailout) tal-Greçja. Is-salvata©© ta’ 130 biljun ewro hu marbut ma’ qbil volontarju mis-sidien privati ta’ titoli ta’ self ma˙ru©a mill-Greçja, fi ftehim imsejja˙ “Private Sector Involvement” (PSI). Bil-ftehim, il-valur tat-titoli tag˙hom se jkollu jonqos b’53.3 fil-mija minflok bil-50 fil-mija kif kien miftiehem qabel.


02 ta’ Marzu 2012

Il-kapijiet tal-istati membri jew gvernijiet tal-UE, bl-eççezzjoni tar-Renju Unit u r-Repubblika Çeka, jiffirmaw it-Trattat dwar l-Istabbiltà, il-Koordinament u l-Governanza (TSKG) fl-Unjoni Ekonomika u Monetarja. Dan it-Trattat g˙andu l-g˙an li jissalvagwarda l-istabbiltà taΩ-Ωona ewro kollha kemm hi. Fi Spanja, il-Prim Ministru Mariano Rajoy i˙abbar li l-gvern tieg˙u qieg˙ed jimmira g˙al defiçit ta’ 5.8 fil-mija tal-PGD g˙as-sena �01�.

09 ta’ Marzu 2012

Il-Ministeru tal-Finanzi Grieg i˙abbar li l-parteçipazzjoni fl-operazzjoni bl-involviment tas-settur privat (PSI) la˙qet 85.8 fil-mija. B’riΩultat ta’ dan, wara li kkunsidraw rapport poΩittiv mit-trojka, il-ministri taΩ-Ωona ewro japprovaw il-finanzjament tat-tieni Programm ta’ A©©ustament Ekonomiku g˙all-Greçja.

30 ta’ Marzu 2012

Il-grupp tal-ewro (il-kumitat mag˙mul minn ministri tal-finanzi taΩ-Ωona ewro ppresedut minn Jean-Claude Juncker, Prim Ministru u ministru tal-finanzi tal-Lussemburgu, li qieg˙ed jittratta l-kwistjonijiet li g˙andhom x’jaqsmu mat-tmexxija taΩ-Ωona ewro) iΩid il-limitu massimu g˙all-Façilità Ewropea ta’ Stabbiltà Finanzjarja (EFSF), li hi temporanja, u warajha g˙all-MekkaniΩmu Ewropew ta’ Stabbiltà (MES), li se jkun permanenti, minn 500 biljun ewro g˙al 700 biljun ewro. Is-self massimu ji©i issa stabbilit g˙al 500 biljun ewro u l-programmi eΩistenti, li jiswew madwar �00 biljun ewro, se jkomplu ji©u ffinanzjati mill-EFSF.


12 ta’ April 2012

Jog˙lew l-img˙axijiet fuq self tal-gvern Taljan. Dan juri li, mill-©did, l-investituri internazzjonali qed jit˙assbu dwar kemm il-pajjiΩ se jirnexxilu jnaqqas il-livell g˙oli ta’ djun li qed i©orr.

18 ta’ April 2012

Il-gvern Taljan ibaxxi t-tbassir g˙all-ekonomija Taljana fis-sena �01�, minn tnaqqis ta’ 0.4 fil-mija g˙al tnaqqis ta’ 1.� fil-mija.

22 ta’ April 2012

Fi Franza jse˙˙ l-ewwel rawnd ta’ elezzjonijiet presidenzjali. Il-kandidat soçjalista François Hollande jirba˙ bi �8.4 fil-mija, filwaqt li l-President attwali Nicolas Sarkozy taç-çentru-lemin, jispiçça t-tieni b’�5.5 fil-mija.

23 ta’ April 2012

Il-Prim Ministru OlandiΩ Mark Rutte jirriΩenja, wara ©img˙at ta’ ta˙ditiet dwar tnaqqis fl-iΩbilanç tal-ba©it g˙as-sena 2013, minn 4.7 fil-mija, kif qed ikun imbassar, g˙al wie˙ed ta’ inqas minn 3 fil-mija. Il-prospetti g˙al tkabbir ekonomiku fl-Olanda xejn mhuma tajba, u se jkunu me˙tie©a miΩuri ©odda biex jintla˙qu l-miri dwar defiçit tal-pajjiΩ hekk li sas-sena �013, l-eççess fid-defiçit ikun tne˙˙a.

06 ta’ Mejju 2012

It-tieni rawnd ta’ elezzjonijiet presidenzjali jinΩammu fi Franza. Hollande jeg˙leb lil Sarkozy b’51.9 fil-mija tal-voti kontra 48.1 fil-mija.


Fil-Greçja, il-partit tal-lemin “Demokrazija Ìdida” immexxi minn Antonis Samaras jo˙ro© minn fuq bi kwaΩi 19 fil-mija tal-vot. Madankollu l-ebda partit m’g˙andu biΩΩejjed si©©ijiet biex jikseb ma©©oranza assoluta (151 si©©u). It-tliet partiti politiçi ewlenin, “Demokrazija Ìdida”, il-Koalizzjoni tax-Xellug Radikali (SYRIZA) u l-PASOK ma jiffurmawx koalizzjoni fiΩ-Ωmien mog˙ti mill-kostituzzjoni Griega.

16 ta’ Mejju 2012

Fil-Greçja jit˙abbru elezzjonijiet ©odda wara li l-isforzi kollha biex ji©i ffurmat gvern ta’ koalizzjoni jfallu.


L-a©enzija tal-krettu Fitch tniΩΩel il-kejl tal-kredibilità finanzjarja (credit rating) ta’ Spanja, li ti©i r-raba’ l-akbar ekonomija taΩ-Ωona ewro g˙al livell li hu ftit biss a˙jar minn l-hekk imsejja˙ junk (irmixk).


Il-Ministru Spanjol g˙all-Ekonomija, Luis de Guindos, i˙abbar li pajjiΩu se jag˙mel talba g˙al 100 biljun ewro f’self mill-fondi taΩ-Ωona ewro sabiex ting˙ata g˙ajnuna lill-banek Spanjoli li jinsabu f’sitwazzjoni diffiçli.


Fit-tieni rawnd ta’ elezzjonijiet Griegi l-partit favur l-awsterità “Demokrazija Ìdida” jikseb l-akbar numru ta’ voti. Antonis Samaras huwa l-Prim Ministru l-©did tal-Greçja.


Il-Gvern Çiprijott jitlob g˙ajnuna finanzjarja mill-membri


taΩ-Ωona ewro u l-Fond Monetarju Internazzjonali biex ikun jista’ jilqa’ g˙all-kriΩi fis-settur bankarju Çiprijott kif ukoll g˙all-iΩbilançi makroekonomiçi li qed jaffaççja l-pajjiΩ. Sadanittant, il-gvern Spanjol formalment jitlob assistenza finanzjarja mill-membri taΩ-Ωona ewro unikament biex isostni s-settur bankarju fi Spanja. Il-ministri fil-grupp tal-ewro japprovaw il-©udizzju tal-Kummissjoni Ewropea li l-assistenza hi me˙tie©a biex ti©i garantita l-istabbilità tal-ewro.


Il-mexxejja taΩ-Ωona ewro jwaqqfu a©enzija ©dida biex tissorvelja l-banek. Se tkun immexxija mill-Bank Çentrali Ewropew bil-˙sieb li twitti t-tensjonijiet fi ˙dan is-swieq finanzjarji.

05 ta’ Lulju 2012

Il-Prim Ministru Grieg, Antonis Samaras, jiltaqa’ g˙all-ewwel darba mar-rappreΩentanti tat-trojka (il-Kummissjoni Ewropea, il-BÇE u l-FMI).

12 ta’ Lulju 2012

Wara Ωjara f’Dublin, esperti tekniçi mill-Kummissjoni Ewropea, il-BÇE u l-FMI li huma inkarigati biex iΩommu sorvelja fuq kif qed jit˙addem il-pakkett ta’ g˙ajnuna g˙all-Irlanda, iqisu r-riΩultati miksuba b’mod favorevoli.Minkejja qag˙da ekonomika u finanzjarja diffiçli u rati g˙olja ta’ qg˙ad, il-programm qed jitwettaq skont il-pjan.

20 ta’ Lulju 2012

Il-grupp tal-ewro jilqa’ t-talba ta’ Spanja g˙al finanzjament


ur©enti sabiex ji©u rikapitalizzati l-istituzzjonijiet finanzjarji tag˙ha. Sakemm il-MekkaniΩmu Ewropew ta’ Stabbiltà (MES) isir disponibbli, l-assistenza finanzjarja se tkun ipprovduta mill-Façilità Ewropea ta’ Stabbiltà Finanzjarja (EFSF). Din se tkopri talbiet finanzjarji g˙al massimu ta’ 100 biljun ewro.

26 ta’ Lulju 2012

Il-president tal-BÇE, Mario Draghi, jiddikjara li l-BÇE se jag˙mel “dak kollu li hemm bΩonn” sabiex il-munita tal-ewro tkun im˙arsa.


Il-BÇE j˙abbar kif se jkun qed jixtri fis-swieq finanzjarji sekondarji u f’ammonti bla limitu t-titoli ta’ self g˙al Ωmien qasir li jo˙or©u l-gvernijiet. Se jag˙mel hekk permezz ta’ programm imsejja˙ Transazzjonijiet Monetarji Çari (Outright Monetary Transactions Programme – OMT). Dan se jkun disponibbli g˙al stati membri li qed jirçievu g˙ajnuna finanzjarja minn xi istituzzjoni ta’ assistenza finanzjarja fi ˙dan iΩ-Ωona ewro.


JinΩammu elezzjonijiet bikrija fl-Olanda wara l-kollass tal-koalizzjoni ta’ minoranza mmexxija mill-Prim Ministru Mark Rutte (kap tal-Partit Popolari g˙al-Libertà u d-Demokrazija – VVD). Il-VVD jirçievi l-ma©©oranza tal-voti, segwit mill-Partit Laburista (PvdA). Il-tellief il-kbir hu l-Partit tal-Libertà tal-lemini estrem Geert Wilders, li jonqos b’disa’ si©©ijiet fil-Parlament. Il-kampanja elettorali kienet dominata mill-kriΩi tal-ewro.



Il-grupp tal-ewro jiltaqa’ bla ma jsib soluzzjoni g˙all-kwistjoni li nqalg˙et min˙abba li fil-programm Grieg mhux se jkun hemm fondi biΩΩejjed biex ila˙˙qu mal-bΩonnijiet tal-Greçja. Jo˙ro© fil-bera˙ li hemm nuqqas ta’ qbil bejn il-FMI u l-imsie˙ba Ewropej dwar kemm id-djun tal-Greçja huma sostenibbli; ukoll dwar il-˙tie©a li d-djun Griegi ji©u ristrutturati g˙at-tieni darba. Min˙abba t-tilwima, 31

biljun ewro f’self ta’ emer©enza me˙tie©a biex iΩommu lill-Greçja fil-wiçç, jibqg˙u ma jin˙ar©ux.


L-a©enzija tal-krettu Moody’s tniΩΩel bi grad lil Franza, minn AAA g˙al AA1, filwaqt li t˙abbar li l-prospetti ekonomiçi tal-pajjiΩ g˙adhom “negattivi”.


Il-grupp tal-ewro jiddeçiedi li jkompli jo˙ro© il-pagamenti lill-Greçja u jestendi g˙al sentejn o˙ra l-programm ta’ assistenza tal-pajjiΩ. Dan sar wara li t-trojka ppreΩentat il-konkluΩjonijiet a©©ornati tag˙ha dwar l-andament tar-riformi fil-Greçja. In-nuqqas ta’ qbil dwar is-sostenibilità tad-dejn Grieg jitwitta billi jittie˙du numru ta’ miΩuri, fosthom tnaqqis fir-rata ta’ mg˙ax li l-Greçja trid t˙allas fuq self li di©à ng˙atalha minn stati taΩ-Ωona ewro, biex b’hekk id-dejn pubbliku Grieg ikun tniΩΩel g˙al 1�4 fil-mija tal-PGD sas-sena �0�0.


Moody’s ibaxxu l-kejl tal-krettu (credit rating) tal-Façilità Ewropea ta’ Stabbiltà Finanzjarja (EFSF) u l-MekkaniΩmu Ewropew ta’ Stabbiltà (MES).



Fl-Italja, il-partit çentru-lemini ta’ Silvio Berlusconi jirtira l-appo©© tieg˙u lill-gvern teknokratiku ta’ Mario Monti.


Il-grupp tal-ewro japprova l-˙ru© ta’ 49.1 biljun ewro lill-Greçja ta˙t it-tieni programm ta’ a©©ustament ekonomiku; il-fondi se jin˙ar©u bin-nifs.

13-14 ta’ Diçembru 2012

Il-Kunsill Ewropew jaqbel li jitwaqqaf korp ©did biex jissorvelja l-˙idma tal-banek fuq skala Ewropea. L-istituzzjoni ting˙ata l-isem ta’ MekkaniΩmu Uniku ta’ Sorvelja (MUS) u se tifforma parti minn strate©ija ma˙suba biex tin˙oloq unjoni bankarja fi ˙dan iΩ-Ωona ewro. Il-MUS se jitmexxa mill-Bank Çentrali Ewropew f’kollaborazzjoni mal-awtoritajiet nazzjonali g˙as-sorvelja tal-banek.


Il-ministri tal-finanzi Ewropej japprovaw l-addozzjoni ta’ sistema komuni ta’ taxxa fuq it-transazzjonijiet finanzjarji (FTT) minn 11-il stat membru. Ir-Renju Unit flimkien mal-Lussemburgu u r-Repubblika Çeka jastjenu mill-vot. Malta topponi l-FTT.


Il-Ministru tal-Finanzi OlandiΩ Jeroen Dijsselbloem jie˙u post Jean-Claude Juncker b˙ala President tal-grupp tal-ewro.


David Cameron, Prim Ministru tar-Renju Unit, jiddikjara


li jekk il-Partit Konservattiv tieg˙u jirba˙ l-elezzjonijiet li jmiss, isejja˙ referendum dwar jekk il-pajjiΩ g˙andux jibqa’ membru tal-UE wara li jkun Ωamm negozjati biex jiddefinixxi mill-©did il-kundizzjonijiet tas-s˙ubija tieg˙u.

07 ta’ Frar 2013

Il-Kunsill Ewropew jil˙aq ftehim fuq il-Qafas Finanzjarju Multiannwali ©did (MFF) g˙as-snin �014-�0�0; il-ftehim jiddetermina l-perspettivi ta’ kif l-UE se tkun qed tiddeçiedi fuq l-infiq tag˙ha fis-snin imsemmija. G˙all-ewwel darba, il-ba©it tal-UE, li jammonta g˙al 960 biljun ewro, jew 1 fil-mija tal-PGD tal-UE, ji©i mnaqqas.

17 ta’ Frar 2013

F’Çipru, l-ewwel rawnd ta’ elezzjonijiet presidenzjali jintreba˙ mill-mexxej tal-partit çentru-lemini (DYSI), Nikos Anastasiadis.

24 ta’ Frar 2013

Fit-tieni rawnd ta’ elezzjonijiet presidenzjali Çiprijotti, Nikos Anastasiadis ji©i elett President ta’ Çipru.

24-25 ta’ Frar 2013

Fl-elezzjonijiet fl-Italja, il-koalizzjoni çentru-xellugija ta’ Pier Luigi Bersani tirba˙ il-vot b’ma©©oranza Ωg˙ira fuq il-koalizzjoni çentru-leminija ta’ Silvio Berlusconi. Il-partit tal-Prim Ministru Monti, li hu l-favorit tal-mexxejja tal-UE, jikseb biss tmintax-il si©©u.

09 ta’ Marzu 2013

F’Malta, il-Partit Laburista fl-OppoΩizzjoni mmexxi minn


Joseph Muscat jirba˙ l-elezzjonijiet ©enerali b’ma©©oranza qawwija ˙afna.

15-19 ta’ Marzu 2013

Matul laqg˙a diffiçli tal-grupp tal-ewro, il-ministri jaqblu dwar pakkett ta’ appo©© finanzjarju g˙al Çipru b’self ta’ 10 biljun ewro. Parti mill-ftehim hi li Çipru g˙andu jimponi taxxa ta’ darba fuq depoΩiti fil-banek tal-pajjiΩ, li tkun tla˙˙aq g˙al 6.7 fil-mija fuq depoΩiti sa 100,000 ewro u 9.9 fil-mija fuq depoΩiti og˙la. JinΩammu dimostrazzjonijiet kbar kontra t-taxxa u n-nies ti©ri biex tirtira flusha mill-magni awtomatiçi tal-banek. Wara, fid-19 ta’ Marzu, il-Parlament Çiprijott jivvota kontra l-ftehim propost.

24-25 ta’ Marzu 2013

Il-grupp tal-ewro j˙abbar li ntla˙aq ftehim mal-awtoritajiet Çiprijotti dwar l-elementi ewlenin me˙tie©a biex jit˙addem programm ta’ a©©ustament makroekonomiku. Dan jinkludi l-irtirar tat-taxxa ta’ darba fuq depoΩiti ta’ ta˙t il-mitt elf ewro fil-banek ta’ Çipru.

28 ta’ Marzu 2013

Il-Qorti Kostituzzjonali PortugiΩa tiç˙ad erbg˙a mid-disa’ miΩuri ta’ awsterità li dda˙˙lu fil-ba©it ta’ din is-sena. Il-miΩuri miç˙uda jinkludu tnaqqis fl-allokazzjonijiet g˙all-vaganzi tal-pensjonanti u tal-˙addiema taç-Çivil, u fil-benefiççji tal-mard tal-qg˙ad. Dan jo˙loq ˙ofra ta’ 1.3 biljun ewro fil-ba©it tal-Portugall.

18 ta’ April 2013

Jintla˙aq ftehim mal-Parlament Ewropew g˙all-˙olqien ta’ MekkaniΩmu Uniku ta’ Sorvelja (MUS).


27 ta’ April 2013

Enrico Letta jaççetta li jmexxi gvern ta’ koalizzjoni wiesg˙a fl-Italja wara li l-mexxej Soçjalista Pier Luigi Bersani jirriΩenja hekk kif ma jirnexxilux jifforma gvern fiΩ-Ωmien ta’ wara l-elezzjoni ©enerali.

13 ta’ Mejju 2013

Il-Façilità Ewropea ta’ Stabbiltà Finanzjarja (EFSF) tiddeçiedi li to˙ro© 4.� biljun ewro lill-Greçja, b˙ala l-ewwel parti minn self li g˙andu jammonta g˙al 7.5 biljun ewro. Fl-istess jum, ti©i wkoll trasferita l-ewwel parti ta’ Ωew© biljun ewro mit-tliet biljun ewro mwieg˙da b’appo©© g˙al Çipru. Il-biljun li jifdal g˙andu jit˙allas sa Ìunju.

13 ta’ Mejju 2013

Il-Kunsill Ewropew jadotta r-regolamenti hekk imsej˙a “two-pack”. L-g˙an tag˙hom hu li jtejbu l-governanza ekonomika fiΩ-Ωona ewro. Il-pakkett jinkludi miΩuri dwar kif g˙andhom isiru s-sorvelja u l-eΩami tal-pjanijiet ba©itarji tal-pajjiΩi taΩ-Ωona tal-ewro, fl-istadju ta’ abbozz. Dawn se jissa˙˙u billi jinΩamm monitora©© dettaljat fil-kaΩ tal-pajjiΩi li jkunu jinsabu ta˙t il-proçedura g˙all-pajjiΩi li qed ikollhom defiçit eççessiv. Se jsir ukoll tis˙i˙ fir-regolamenti dwar kif tinΩamm sorvelja fuq pajjiΩi taΩ-Ωona li qed i©arrbu diffikultajiet finanzjarji serji, jew li jinsabu mhedda b’diffikultajiet ta’ din ix-xorta, jew li qed jitolbu g˙ajnuna finanzjarja.

17 ta’ Mejju 2013

Il-MekkaniΩmu Ewropew ta’ Stabbiltà jg˙addi 4.� biljun ewro lill-Greçja. Dan il-˙las huwa l-ewwel parti mill-


pagament li kellu jo˙ro© l-EFSF g˙al ammont ta’ 7.5 biljun ewro. It-tieni parti mis-self (ta’ 3.3 biljun ewro) se ting˙ata f’Ìunju �013, wara li jkun twettaq il-Memorandum ta’ Ftehim bejn il-Greçja u t-trojka.

29 ta’ Mejju 2013

Il-Kummissjoni Ewropea tirrakkomanda li ting˙alaq il-proçedura ta’ defiçit eççessiv (PDE) g˙al ̇ ames pajjiΩi: l-Italja, il-Latvja, il-Litwanja, l-Ungerija u r-Rumanija. Fl-istess waqt, il-Kummissjoni tirrakkomanda wkoll li tinfeta˙ PDE g˙al Malta. Kemm ilha li ssie˙bet fl-UE, Malta kienet so©©etta darbtejn g˙al PDE: f’Lulju �004 u f’Lulju �009. F’April �013, l-awtoritajiet Maltin kienu ˙abbru li l-iΩbilanç ©enerali tal-gvern Malti kien la˙aq it-3.3 fil-mija tal-PGD g˙all-�01�.

31 ta’ Mejju 2013

Il-President FrançiΩ Hollande jiltaqa’ f’Pari©i mal-Kançillier ÌermaniΩa Merkel. Id-diskussjonijiet jiffukaw fuq il-proposta li s-sbatax-il membru taΩ-Ωona ewro ja˙tru president “full-time” g˙all-grupp tal-ewro, kif ukoll illi jinΩammu laqg˙at aktar regolari tal-mexxejja sabiex jikkoordinaw a˙jar u jsa˙˙u l-unjoni ekonomika u monetarja.


Il-Parlament Malti jirratifika l-patt fiskali. Id-dibattitu fuq is-su©©ett inbeda f’Ottubru �01� imma d-deçiΩjoni kienet g˙adha pendenti meta ssej˙u l-elezzjonijiet ta’ Marzu �013.


Ateni t˙abbar l-g˙eluq b’effett immedjat tax-xandir tal-istat Grieg (ERT) b˙ala parti mill-˙idma biex jitnaqqsu


l-impjiegi fis-settur pubbliku u jintla˙qu l-miri tal-programm ta’ salvata©© finanzjarju. Il-partit tax-Xellug Demokratiku jirtira mill-gvern. Fi stqarrija, il-Kummissjoni Ewropea tg˙id li ma tistax tag˙ti pariri lill-istati membri kif jorganizzaw is-servizzi tax-xandir pubbliku tag˙hom. Madankollu, il-Kummissjoni ssemmi kif l-istess servizzi taw sehem importanti favur valuri Ewropej, b˙all-pluraliΩmu u l-libertà tal-midja.


Il-Façilità Ewropea ta’ Stabbiltà Finanzjarja (EFSF) tapprova li jittawwal iΩ-Ωmien li fih se jinfeda s-self tag˙ha lill-Irlanda (17.7 biljun ewro) u l-Portugall (�6 biljun ewro) fil-qafas tal-programmi tag˙hom ta’ g˙ajnuna. Dan sar sabiex “tissa˙˙a˙ il-fiduçja ta’ dawk li jinnegozjaw fis-swieq” u biex “l-Irlanda u l-Portugall ikunu m˙arsa mir-riskji li jistg˙u jaffaççjaw meta ji©u biex ifittxu finanzi ©odda minflok is-self li di©à g˙andhom”.


Il-Kunsill Ewropew jie˙u poΩizzjoni dwar kif g˙andhom ji©u ttrattati banek li resqin lejn il-falliment: jadotta sistema unika g˙aΩ-Ωona ewro u g˙all-UE, biex tie˙u ˙sieb banek f’din il-qag˙da, waqt li ssa˙˙a˙ is-sorvelja u l-istabbiltà tas-settur finanzjarju. Fil-futur, is-salvata©©i se jkunu ffinanzjati mill-azzjonisti tal-banek, u dan waqt li jkun im˙ares l-operat essenzjali tal-banek u jitnaqqas ir-riskju g˙aç-çittadini li mit-taxxi tag˙hom jispiççaw ikollhom i©orru huma l-piΩijiet ta’ falliment bankarju.

08 ta’ Lulju 2013

Il-grupp tal-ewro jawtorizza lill-“Working Group” tieg˙u


biex japprova l-pagament li jmiss li jsir mill-EFSF g˙all-Greçja. Dan jammonta g˙al xi 3 biljun ewro. L-ewwel porzjon se jit˙allas lill-Greçja f’Lulju bi �.5 biljun ewro mill-EFSF. Il-˙las tat-tieni parti, f’self ta’ nofs biljun ewro, se jsir f’Ottubru tal-istess sena. Se jintrabat mat-twettiq tal-miri ta’ Memorandum ta’ Ftehim, kif miftiehem bejn il-Greçja u t-trojka. Barra minn dan, ammont ta’ � biljun ewro se ji©i trasferit minn ˙lasijiet lura ta’ profitti li saru mill-kontijiet tal-banek çentrali taΩ-Ωona ewro.


Il-qafas tal-MekkaniΩmu Uniku ta’ Sorvelja ji©i approvat mill-Parlament Ewropew. Minn Settembru tal-�014, madwar 150 mill-ikbar banek tal-UE se jaqg˙u ta˙t is-sorvelja diretta tal-BÇE. Skont il-President tal-BÇE Mario Draghi, “Dan hu pass reali ’l quddiem fit-twaqqif ta’ unjoni bankarja.”


JinΩammu l-elezzjonijiet federali fil-Ìermanja biex ji©u eletti l-membri tat-tmintax-il Bundestag. L-Unjoni Kristjana Demokratika/Unjoni Kristjana Soçjali (CDU/CSU) tal-Kançillier Angela Merkel jiksbu l-a˙jar riΩultat mill-1990 lil hawn, bi kwaΩi 4� fil-mija tal-voti u 50 fil-mija tas-si©©ijiet. Madankollu, g˙all-ewwel darba fl-istorja tieg˙u, is-sie˙eb fil-koalizzjoni tag˙hom, il-partit liberali (FDP) ma jikseb l-ebda si©©u fil-Bundestag. Wara ©img˙at ta’ negozjati, il-partit ta’ Merkel jiftiehem fis-�7 ta’ Novembru mal-partit prinçipali tal-oppoΩizzjoni, is-Soçjalisti Demokratiçi (SPD), biex iwaqqfu bejniethom koalizzjoni “kbira”.



Il-BÇE jnaqqas ir-rata baΩilari ta’ mg˙ax g˙al 0.�5 fil-mija fi sforz biex ma j˙allix il-prezzijiet ikomplu jonqsu u biex i˙e©©e© titjib ekonomiku.


Il-grupp tal-ewro jilqa’ s-suççess Spanjol fit-twettiq tal-programm g˙as-settur finanzjarju tieg˙u u l-˙ru© ta’ Spanja mill-programm, ming˙ajr ma se tkun talbet g˙al aktar g˙ajnuna mill-MES. Il-Ministru tal-Finanzi IrlandiΩ Michael Noonan i˙abbar li pajjiΩu se jo˙ro© mill-programm ta’ a©©ustament fil-15 ta’ Diçembru biex isir b’hekk l-ewwel pajjiΩ taΩ-Ωona ewro li se jkun ˙are© mill-iskema ta’ salvata©© imtellg˙a mill-UE u mill-Fond Monetarju Internazzjonali.


Id-delegazzjoni tat-trojka t˙alli Ateni wara li g˙at-tieni darba jit˙assar il-pass li jmiss fit-twettiq tal-programm ta’ assistenza g˙all-Greçja. JeΩisti nuqqas ta’ qbil sostanzjali bejn il-gvern ta’ koalizzjoni Grieg u s-selliefa tieg˙u (il-Kummissjoni Ewropea, il-BÇE u l-FMI). In-nuqqas ta’ qbil prinçipali hu dwar id-daqs tad-defiçit fil-ba©it Grieg g˙as-sena �014.


Il-grupp tal-ewro jiddiskuti g˙all-ewwel darba l-abbozzi tal-pjanijiet ba©itarji tal-istati membri qabel ma dawn jg˙addu mill-parlamenti nazzjonali. Il-grupp jikkonkludi li l-ebda pjan ba©itarju ma jinsab f’nuqqas ta’ konformità serja mal-Patt ta’ Stabbiltà u Tkabbir.



Moody’s ittejjeb il-klassifikazzjoni ta’ krettu tal-Greçja (credit rating) minn C g˙al Caa3. Il-pajjiΩ xorta g˙adu mhux f’qag˙da li jattira lejh investituri ©odda mis-swieq finanzjarji internazzjonali.


L-Irlanda to˙ro© mill-programmi ta’ salvata©© u ter©a’ lura g˙as-swieq internazzjonali biex tiffinanzja n-nefqa tal-ba©it tag˙ha. Il-pajjiΩ ©ie salvat mill-falliment bi programm ta’ 85 biljun ewro f’self li dam g˙addej g˙al tliet snin. Kemm il-ministri IrlandiΩi kif ukoll il-Kummissjoni Ewropea jis˙qu li l-politika ta’ awsterità je˙tie© tkompli g˙addejja sabiex jitbaxxa l-livell tad-dejn pubbliku IrlandiΩ. G˙as-sena �013 dan se jil˙aq il-livell ta’ 1�4 fil-mija tal-Prodott Gross Domestiku.


Il-ministri tal-finanzi Ewropej jiftiehmu dwar it-twaqqif tal-MekkaniΩmu Uniku ta’ RiΩoluzzjoni (MUR), bord li se jiddeçiedi liema banek li jkunu fi kriΩi g˙andhom ji©u salvati, u li mbag˙ad jorganizza s-salvata©©. Dan hu mitqies b˙ala pass essenzjali lejn unjoni bankarja fl-Ewropa.


Il-Latvja ssir it-tmintax-il membru taΩ-Ωona ewro.


Hekk kif kien t˙abbar f’Novembru, Spanja ssir it-tieni stat membru taΩ-Ωona ewro li jo˙ro© mill-programm ta’ salvata©© g˙all-banek tieg˙u. Il-programm, miftiehem


f’Lulju �01�, kien ikopri self ta’ 41.3 biljun ewro f’g˙ajnuna lis-settur bankarju tal-pajjiΩ. Sadanittant, ir-rata tal-qg˙ad Spanjola telg˙et g˙al aktar minn �6 fil-mija, li ti©i t-tieni l-og˙la rata ta’ qg˙ad fl-UE wara dik tal-Greçja.

22 ta’ Frar 2014

Wara li jin˙atar mexxej tal-Partit Demokratiku (Soçjalista), Matteo Renzi jsir Prim Ministru tal-Italja hekk kif jirriΩenja Enrico Letta, li jkun ©ie kkritikat min˙abba l-pass batut li bih qed jidda˙˙lu r-riformi.

10 ta’ Marzu 2014

Il-Fond g˙all-G˙ajnuna Ewropea g˙al Dawk l-Aktar fil-BΩonn (FEAD) ji©i varat mill-Kunsill tal-Ministri. 3.8 biljun ewro se jkunu assenjati lill-FEAD g˙all-perjodu �014-�0�0, biex jag˙ti appo©© lil skemi ta’ emer©enza g˙all-g˙ajnuna soçjali fl-istati membri. Il-FEAD se jkun jista’ jid˙ol g˙al firxa wiesg˙a ta’ ˙idmiet ta’ assistenza materjali, mog˙tija mhux fi flus, inkluΩ ikel, ilbies u o©©etti o˙ra essenzjali g˙all-uΩu personali b˙al Ωraben, sapun u xampù, biex jitqassmu lill-fqar.

01 ta’ Mejju 2014

Il-MekkaniΩmu Ewropew ta’ Stabbiltà (MES) jil˙aq il-mira ta’ 80 biljun ewro f’kapital im˙allas. Il-kwota finali ta’ 15.7 biljun ewro ©iet trasferita lilu mill-membri tal-MekkaniΩmu. B’hekk jintemm il-proçess ta’ kapitalizzazzjoni mibdi bl-inawgurazzjoni tal-MES f’Ottubru �01�.

05 ta’ Mejju 2014

Il-Prim Ministru PortugiΩ Pedro Passos Coelho j˙abbar illi dan ix-xahar pajjiΩu se jo˙ro© mill-programm ta’ salvata©©


li jammonta g˙al 78 biljun ewro, ming˙ajr ma jserra˙ fuq linja ta’ krettu li sservi ta’ kawtela (precautionary credit line). Dan peress li l-ekonomija tal-pajjiΩ qed ter©a’ tikber wara tliet snin iebsa ta’ awsterità stretta u riformi xejn popolari. Ji©i approvat il-˙ru© lill-Greçja ta’ 6.3 biljun ewro, il-parti li jmissha tirçievi mis-self tal-EFSF. Hu kkonfermat li l-Greçja qed til˙aq bilanç primarju poΩittiv bejn d˙ul u ̇ ru© fil-ba©it tal-gvern, skont il-mira mpo©©ija fil-programm ta’ a©©ustament ekonomiku tag˙ha.

07 ta’ Mejju 2014

Il-MekkaniΩmu Ewropew ta’ Stabbiltà jo˙ro© “bonds” li jimmaturaw f’˙ames snin g˙all-valur ta’ 3 biljun ewro. L-ordnijiet li jaslu minn investituri mad-dinja jaqbΩu t-8 biljun ewro.

22-25 ta’ Mejju 2014

G˙at-tmien darba mill-1979, jinΩammu elezzjonijiet Ewropej. G˙all-ewwel darba, partiti politiçi pan-Ewropej jipproponu l-kandidati tag˙hom (“Spitzenkandidaten”) g˙all-poΩizzjoni ta’ President tal-Kummissjoni Ewropea. Il-˙sieb hu li b’hekk se jissa˙˙a˙ il-karattru demokratiku tal-UE. Madwar kwart tas-si©©ijiet jintreb˙u minn partiti ewroxettiçi jew ta’ protesta. Il-parteçipazzjoni tal-votanti taqbeΩ b’˙arira t-4� fil-mija tal-elettorat.

25 ta’ Mejju 2014

Fil-Bel©ju jinΩammu elezzjonijiet federali u re©jonali. Ftit jiem wara jibdew in-negozjati sabiex ji©i ffurmat gvern federali ©did. Jibdew ukoll in-negozjati sabiex ji©u ffurmati gvernijiet ©odda fir-re©juni (Fjamand, Wallun, FrançiΩ, ta’


Brussell). Il-gvern g˙all-komunità lingwistika ÌermaniΩa ji©i ffurmat ftit jiem biss wara l-elezzjonijiet.


G˙al darba o˙ra l-Qorti Suprema PortugiΩa twarrab il-pjanijiet g˙al numru ta’ miΩuri ta’ awsterità. Hi tiddikjara li miΩuri g˙al tnaqqis ta’ bejn � u 1� fil-mija fil-benefiççji soçjali u fil-pagi tas-settur pubbliku jmorru kontra l-kostituzzjoni.


Min˙abba fid-deçiΩjoni tal-Qorti Suprema tal-Portugall, l-UE u l-FMI jissospendu l-˙las finali ta’ self mill-programm ta’ salvata©© PortugiΩ li jammonta g˙al �.6 biljun ewro.


Fil-Greçja, wara t-telfa kbira li ©arrab il-partit tieg˙u fl-elezzjonijiet Ewropej, il-Prim Ministru Antonis Samaris jibdel ministri fil-kabinett imma ma jag˙ti l-ebda turija li se jkun hemm xi bidla sostanzjali fil-politika li qed imexxi.


Il-grupp tal-ewro jaqbel li l-Litwanja tissodisfa l-kundizzjonijiet me˙tie©a sabiex tissie˙eb fiΩ-Ωona ewro fl-�015.

07 ta’ Lulju 2014

Il-Bord tad-Diretturi tal-MES japprova l-iΩborΩar ta’ 600 miljun ewro g˙al Çipru. Dan isir wara li jkun approva analiΩi ta’ fejn wasal il-programm ta’ a©©ustament makroekonomiku u tal-Memorandum ta’ Ftehim supplementari ma’ Çipru, li jiddeskrivi l-kundizzjonijiet li ta˙thom se jin˙ar©u l-flus.


Fl-istess jum, il-grupp tal-ewro japprova l-iΩborΩar tal-parti li jmiss mill-g˙ajnuna lill-Greçja li tla˙˙aq biljun ewro.

25-26 ta’ Awwissu 2014

Il-Prim Ministru FrançiΩ Manuel Valls jirriΩenja wara li tliet ministri, fosthom Arnaud Montebourg inkarigat mit-tmexxija ekonomika, jitkellmu pubblikament kontra l-politika ta’ awsterità tal-gvern. Dawn il-ministri jitne˙˙ew mill-kariga fil-gvern ©did li Valls jer©a’ jitqabbad biex imexxi. Emanuel Macron, li qabel kien bankier fil-qasam tal-investimenti, jil˙aq ministru tal-ekonomija.

28 ta’ Awwissu 2014

Mario Draghi, President tal-BÇE, f’diskors li jag˙mel f’Jackson Hole, l-Istati Uniti, jirrimarka kif biex jintreb˙u l-ista©nar ekonomiku u l-qg˙ad, “Tkun ta’ g˙ajnuna kieku l-politika fiskali ting˙ata rwol akbar ma©enb il-politika monetarja u nemmen li hemm lok g˙al dan.”


JinΩammu elezzjonijiet ©enerali fl-IΩvezja. Il-Partit Soçjal-Demokratiku tal-Prim Ministru ÛvediΩ jirba˙ 31 fil-mija tal-vot. Flimkien mal-Partit tal-Óodor li jirba˙ 6.9 fil-mija, il-koalizzjoni taç-çentru-xellug b’hekk tikseb 37.9 fil-mija tal-vot. L-alleanza taç-çentru-lemin, li tinkludi l-Partit tal-Moderati, il-Partit Liberali, il-Partit taç-Çentru, u d-Demokristjani, ji©bru 39.4 fil-mija tal-vot. Is-Soçjal-Demokratiçi u l-Óodor jiffurmaw gvern ta’ minoranza u Stefan Lofven (Soçjal-Demokratiku) isir Prim Ministru.


Fil-Latvja jsiru l-elezzjonijiet parlamentari. Partit li g˙andu


l-aktar appo©© minn eletturi ta’ nisel Russu jikseb l-akbar numru ta’ voti. Il-Partit tal-Armonija mmexxi mis-sindku ta’ Riga, Nil Ushakov, jirba˙ �3 fil-mija tal-vot, filwaqt li l-koalizzjoni ta’ tliet partiti li attwalment jinsabu fil-gvern jiksbu 56 fil-mija tal-vot bejniethom.


Id-diskussjoni fil-grupp tal-ewro tiffoka fuq il-bΩonn li ting˙ata spinta lill-investiment u li ji©i ©©enerat tkabbir ekonomiku, kif ukoll li jin˙olqu impjiegi ©odda. Dwar il-gΩira ta’ Çipru, il-˙ames analiΩi tal-programm tag˙ha jinΩamm pendenti, peress li l-qafas legali g˙ar-ristrutturar tad-dejn privat g˙adu ma twaqqafx. Fir-rigward tal-Greçja, jing˙ata g˙arfien li twettaq progress matul is-sajf, anki jekk xi miΩuri li kienu miftiehma g˙ad iridu jidda˙˙lu.


Il-Parlament Ewropew japprova l-Kummissjoni Ewropea l-©dida, b’Jean-Claude Juncker b˙ala l-President tag˙ha.


B˙ala parti mill-mixja lejn l-unjoni bankarja, ji©u ppubblikati r-riΩultati tal-eΩamijiet li saru (“stress tests”) fuq banek Ewropej. 130 bank miΩ-Ωona ewro (inkluΩa l-Litwanja) ©ew koperti – jew 8� fil-mija tal-assi bankarji fiΩ-Ωona. Wie˙ed minn kull ˙ames banek fl-Ewropa mhux f’poΩizzjoni li josserva l-kundizzjoni li qed jesi©i l-Bank Çentrali Ewropew dwar il-kapital li jrid ikollhom il-banek. Tinstab ˙ofra ta’ xi �5 biljun ewro fl-assi tas-sistema bankarja Ewropea, li di©à kienet f’qag˙da fra©li. Tliet banek Maltin (fosthom il-BOV u l-HSBC) jg˙addu mill-eΩami imma se jkollhom jirrevedu


kif imexxu partijiet mill-operat tag˙hom. B’˙ofor li jla˙˙qu 9.41 biljun u 8.7� biljun ewro rispettivament, l-Italja u l-Greçja qed isostnu l-akbar nuqqas ta’ kapital bankarju. Jitqies li l-eqdem bank fid-dinja, Banca Monte dei Paschi di Siena mill-Italja, g˙andu Ωbilanç ta’ aktar minn � biljun ewro fl-istruttura kapitali tieg˙u u se jkollu jsewwi dan in-nuqqas fid-disa’ xhur li ©ejjin.


Il-Kummissjoni Ewropea l-©dida tibda l-mandat tag˙ha.


Il-President tal-Kummissjoni Ewropea Jean-Claude Juncker i˙abbar Pjan ta’ Investiment biex jo˙ro© lill-Ewropa mill-ista©nar ekonomiku u qg˙ad g˙oli. Il-pjan huwa mibni fuq il-˙olqien ta’ Fond Ewropew g˙al Investimenti Strate©içi (FEIS), garantit bi flejjes pubbliçi. �1 biljun ewro se jo˙or©u mill-ba©it tal-UE, inkluΩ 5 biljun ewro ming˙and il-Bank Ewropew tal-Investiment. Dan g˙andu “jissarraf” f’aktar minn 60 biljun ewro f’self u garanziji. Meta dawn l-ammonti ji©u mwieΩna b’fondi privati, il-Fond se jkun mistenni jitla’ g˙all-ammont ta’ 315-il biljun ewro. It-tieni element tal-Pjan Juncker hu l-˙olqien ta’ sensiela ta’ pro©etti “kredibbli” li jkunu marbuta ma’ programm ta’ assistenza. Fit-tielet post, il-mira se tkun li jittejbu u jkunu varati inizjattivi ta’ politika favur is-suq wie˙ed f’oqsma strate©içi biex l-Ewropa ssir aktar attraenti g˙all-investiment. Ji©i ppubblikat dokument li jfisser kif dan kollu se jitwettaq. Fl-appell li jag˙mel lill-gvernijiet nazzjonali tal-UE biex jappo©©jaw il-pakkett ta’ inizjattivi, Juncker jipproponi li l-kontribuzzjonijiet li jag˙mlu l-istati membri lill-Fond ikunu eΩentati mill-kalkoli li jsiru skont ir-regoli tal-Patt


ta’ Stabbiltà u Tkabbir dwar id-defiçits fil-ba©it u dwar dejn.


Il-Kummissjoni Ewropea ti©©udika li l-ba©its ta’ seba’ pajjiΩi fiΩ-Ωona ewro (fosthom l-Awstrija, il-Bel©ju, Malta u l-Portugall) jinsabu f’sogru li ma jkunux konformi mar-regoli tal-Patt ta’ Stabbiltà u Tkabbir. Fil-kaΩ ta’ Franza, l-Italja u l-Bel©ju, il-Kummissjoni se teΩamina s-sitwazzjoni mill-©did f’Marzu �015 biex tivverifika jekk humiex jittie˙du l-azzjonijiet me˙tie©a biex jitwettqu l-bidliet me˙tie©a skont ir-regoli tal-Patt ta’ Stabbiltà u Tkabbir.


Fil-konkluΩjonijiet tieg˙u, il-Kunsill Ewropew japprova l-Pjan Juncker u “jappella biex jitwaqqaf Fond Ewropew g˙all-Investimenti Strate©içi... bil-g˙an li jimmobilizza 315-il biljun ewro f’investimenti ©odda bejn l-�015 u l-�017”. Il-Kunsill jappo©©ja wkoll l-intenzjoni ta’ Juncker li jtellaq il-˙idma tal-Fond minn Ìunju �015. Madankollu l-ebda stat membru ma jwieg˙ed li se jag˙mel xi kontribuzzjoni lill-Fond.


Mat-tielet vot, il-Parlament Grieg jer©a’ ma jirnexxilux jele©©i President ©did u tiskatta kriΩi politika. Tissejja˙ elezzjoni bikrija.


Il-Kummissjoni Ewropea tippreΩenta linji ta’ gwida ©odda dwar kif se tkun qed t˙addem “flessibiltà” fl-interpretazzjoni u t-twettiq tar-regoli tal-Patt dwar Stabbiltà u Tkabbir


(Ekonomiku) biex b’hekk issa˙˙a˙ ir-rabta bejn riformi strutturali, investiment u responsabbiltà fiskali b˙ala sforz ta’ sostenn g˙all-impjiegi u g˙at-tkabbir ekonomiku.


Il-Bank Çentrali Ewropew i˙abbar li se jwessa’ l-programm li bih jixtri l-assi finanzjarji, billi jibda jixtri minn Marzu �015 çedoli ta’ self ma˙ru©a mill-gvernijiet g˙all-ammont ta’ 60 biljun ewro fix-xahar. Dan skont linja ta’ ˙idma msej˙a “quantitative easing” biex b’hekk jaffaççja r-riskji li jin˙olqu jekk itul iΩΩejjed iΩ-Ωmien li matulu tippersisti inflazzjoni baxxa wisq – ˙a©a li tnaqqas dejjem aktar il-prospetti ta’ tkabbir ekonomiku. Kull xahar se ti©i allokata “kwota” lill-banek çentrali ta’ pajjiΩi membri taΩ-Ωona ewro g˙al kemm se jixtru fis-swieq “sekondarji” çedoli ta’ self (“bonds”) tal-gvern nazzjonali tag˙hom.Is-sehem mog˙ti lill-Bank Çentrali Malti jla˙˙aq mas-36 miljun ewro kull xahar.

25-26 ta’ Jannar 2015

JinΩammu l-elezzjonijiet Griegi. Il-koalizzjoni tax-xellug radikali, is-SiriΩa, tag˙mel reb˙a storika: tikseb 36 fil-mija tal-vot, tmien punti ta’ persenta©© aqwa mill-Partit tad-Demokrazija l-Ìdida tal-Prim Ministru tellief Antonis Samaras. B’149 si©©u f’Parlament ta’ 300, SiriΩa jonqoshom ftit ˙afna biex jiksbu ma©©oranza assoluta. Il-mexxej Alexis Tsirpas jie˙u l-©urament ta’ Prim Ministru u minnufih jifforma koalizzjoni mal-Partit Nazzjonalista tal-Griegi Indipendenti (lemin).

12 ta’ Frar 2015

Il-gvern tas-SiriΩa jibda jinnegozja biex il-programm ta’


salvata©© tal-Greçja jitwal b’erba’ xhur. Jirtira miΩuri li kien se jda˙˙al kontra l-awsterità u jaççetta li jsostni l-programm ta’ riformi approvati miΩ-Ωona ewro.

24 ta’ Frar 2015

Il-grupp tal-ewro japprova l-proposti tal-gvern Grieg biex itawwal il-programm ta’ salvata©© li jammonta g˙al 17� biljun ewro b’erba’ xhur. Matulhom il-gvern Grieg se jinnegozja kundizzjonijiet ©odda g˙all-programm. G˙alkemm dan jirrappreΩenta rtirata kbira mit-talbiet ori©inali tal-Greçja, il-FMI u l-BÇE xorta wa˙da jfissru t-t˙assib tag˙hom dwar il-pjan il-©did.

25 ta’ Frar 2015

Il-Kummissjoni Ewropea tag˙ti aktar Ωmien lil Franza, sas-sena �017, biex i©©ib id-defiçit fil-ba©it tag˙ha ta˙t il-limitu ta’ 3 fil-mija tal-Prodott Gross Domestiku, skont ir-regoli tal-UE.Dan ifisser li t-tieni l-akbar ekonomija fiΩ-Ωona ewro mhijiex se ti©i mmultata. Se jkollha tnaqqas id-defiçit tag˙ha li stmat li se jil˙aq l-4.1 fil-mija tal-PGD fl-�015 g˙al anqas minn 3 fil-mija fl-�017.

27 ta’ Frar 2015

Il-Bundestag ÌermaniΩ japprova l-estensjoni tal-programm ta’ salvata©© tal-Greçja.


02

EURO CRISIS TIMELINE

1997

Agreement is reached on the Stability and Growth Pact, designed to ensure that fiscal discipline will be maintained by the member states of the European Union, before the step is taken to achieve economic and monetary union in Europe with the introduction of the euro. The Pact aims to measure how member states are to observe clearly set guidelines regarding the deficit in their annual budgets and national debt. The main targets establish that the annual budget deficit should not exceed 3 per cent of Gross Domestic Product in all countries concerned, and that the national debt overall should not exceed 60 of their Gross Domestic Product. In practice, almost all member states of the European Union manage at one time or another, to infringe these guidelines in subsequent years.

01 January 1999

As an essental step towards European economic and monetary union, the euro comes into force in these EU

6�

Euro crisis timeline 63

countries: Germany, France, Italy, Spain, Holland, Belgium, Luxembourg, Austria, Finland, Ireland and Portugal.

01 January 2001

Greece joins the euro zone. Euro notes and coins are introduced as the national currency of all euro zone member states.

23 March 2005

The heads of state and government of the European Union agree to make the rules established by the Stability and Growth Pact more flexible.

01 January 2007

Slovenia joins the euro zone.

10 July 2007

Finance ministers of the euro zone give their final approval for Malta and Cyprus to join the euro zone.

17 July 2007

A bank crisis erupts in the U.S. and spreads to banks worldwide as the American property market collapses. The latter has been massively promoted through financial instruments sold globally, covering a wide range of of property mortgages, with good and bad in the same package. The fifth largest U.S. bank Bears Stearns announces it has made record losses. Two days later, the Federal Reserve, as America’s central bank, puts the cost of the crisis at $100 billion.

01 January 2008

Malta and Cyprus adopt the euro as their national currency.


17 February 2008

Following months of financial crisis, the British bank Northern Rock is nationalised.

17 March 2008

Bears Stearns is purchased on the cheap by J P Morgan Chase.

15 September 2008

Having announced enormous losses, the American Bank Lehmann Brothers declares bankruptcy.

30 September 2008

Ireland declares it will guarantee all deposits held in Irish banks. In the following months, the Irish government pumps out billons of euros to support a succession of banks in crisis.

September – October 2008

A growing number of banks and financial institutions become deeply involved in the “credit crunch” crisis as it comes to be called – among them, Merill Lynch, American International Group, Royal Bank of Scotland and Lloyds TSB. The United States and leading European countries are forced to follow the example set by the UK and intervene directly with massive goverment funds to shore up banks and financial institutions under threat.

06 October 2008

After having taken over 75 per cent of the shares in the Glitnir bank, the third largest in the country, the government


of Iceland issues a limitless guarantee on deposit holdings in Iceland’s banks. In the next two days, the government takes over the country’s three leading banks. The British government freezes assets held in the UK by Iceland’s largest bank Kaupthing.

20 November 2008

Iceland is lent $�.1 billion by the International Monetary Fund.

01 January 2009

Slovakia joins the euro zone.

23 January 2009

Iceland’s Prime Minister Haarde calls for elections in May but two days later, the government coalition collapses.

27 May 2009

The European Commission proposes the establishment of new structures by which to improve the monitoring of European banks and financial institutions. As part of these measures, a System of European Bank Supervisors is set up, tasked with the examination of the affairs of major European banks to test how they can cope with negative economic and financial developments. Such a procedure (called a stress test) has been adopted by the US in the wake of the �007/�008 financial crisis.

01 October 2009

European Union financial ministers announce that stress tests have been finalised on the major European banks to determine how they can cope with negative economic and


financial changes in Europe. All banks are considered to be in a position to resolve any difficulties that might arise. The results of the tests are not published. The validity of these conclusions is criticized.

05 October 2009

The democratic socialist party PASOK wins the Greek elections and reports discovering a huge deficit in government finance.

14 January 2010

Greece launches a “stability and growth” financial programme designed to cut the government deficit from 1�.7 per cent of the Gross Domestic Product in �009 to �.8 per cent in the year �01�. The programme introduces wideranging austerity measures over government spending and gives rise to a long run of demonstations, protests and strikes all over Greece.

15 March 2010

The finance ministers of the European Union agree that support should be extended to Greece, even though this contradicts provisions in the Stability and Growth Pact which lay down that all member states ot the economic and monetary union must separately ensure that their public finances observe the Pact’s rules.

11 April 2010

Leaders of the European monetary union (euro zone) agree on a rescue plan for Greece. On a bilateral basis, every euro zone member will provide Greece with loans totalling 80 billion over three years. Malta’s share in this package would


reach 74.5 million. Meanwhile, concern grows about the financial situation of Ireland, Portugal and Spain.

06 May 2010

Elections held in the UK result in a hung parliament with the Conservative Party led by David Cameron winning the largest number of votes and seats but still short of a majority of seats. On 1� May, the Conservatives agree on a coalition government with the Liberal Party.

08-09 May 2010

All European member states decide to set up a temporary fund to be called the EFSF (European Financial Stability Facility) with a lending capacity of up to 440 billion on the basis of guarantees issued by member states. The EFSF is set up as a private company (“special purpose vehicle”) with the aim of intervening to financially support euro zone member states when they are in difficulty. Malta’s share in this Facility by way of guarantees stands at 398.44 million. Agreement is also reached to set up another fund, amounting to 60 billion, guaranteed directly by the European Union and run by the European Commission, to provide financial support to members of the Union when they are in difficulties. This fund is called the European Financial Stabilisation Mechanism (EFSM). Euro zone leaders agree to increase the level of financial support in favour of Greece to 100 billion by means of loans from these two funds. Greece will have to accept that experts from the International Monetary Fund, the European Central Bank and the European Commission (the so-called “troika”) monitor progress on the austerity measures it is implementing.


11 May 2010

The Maltese Parliament approves Malta’s participation in the rescue plan for Greece drawn up on the 11 April �010, by authorizing the government to borrow up to 30 million, in order to be able to make its first loan contribution to Greece.

17 June 2010

European Union leaders agree to carry out another stress test on major European banks and also to publish the results in order to calm misgivings on financial markets.

14 July 2010

The Maltese Parliament approves Malta’s participation in the European Financial Stability Facility.

23 July 2010

Results are published of stress tests carried out on major European banks under more stringent conditions than in �009. Seven banks fail the test. Bank of Valletta in Malta is considered as non problematic. However, the method by which the tests are being conducted continues to attract criticism as some analysts believe it is not sufficiently stringent.

29 October 2010

The European Council endorses an amendment to the European Union treaties in order to allow for the setting up of a new permanent fund, the European Stability Mechanism (ESM).

16 November 2010

Having implemented its decision to guarantee that all its


banks would remain solvent, the Irish government ends up with a huge public deficit, and accepts the support of euro zone countries in order to avoid having to pay unsustainable interests on loans it now has to fund.

28 November 2010

European governments and the International Monetary Fund agree on a rescue package of loans to Ireland totalling 85 billion. For its part, Ireland agrees to introduce an

unprecedented programme of austerity measures.

01 January 2011

Estonia joins the euro zone, becoming its seventeenth member.

01 February 2011

Early elections are called in Ireland by the Prime Minister, Fianna Fail’s Brian Cowen. Following mounting public dissatisfaction with austerity and with the eurozone bailout, as well as deep friction within the governing coalition between the Greens and Fianna Fail, the Greens have gone into Opposition promising to vote in favour only of a truncated budget. The budget is finally passed following an agreement with the Opposition to clear it by the end of January, when elections would be called.

28 February 2011

In Irish elections Fine Gael led by Edna Kenny becomes the largest party for the first time in its history, while Fianna Fail, always the largest political formation in Ireland loses over half of its vote in the previous election. Fine Gael enters into a coalition with the Labour Party which has also


made significant gains. The new government announces a commitment to obtain better terms under the euro zone deals negotiated by its predecessor. It insists it will defend at all costs Ireland’s policy to maintain a very low income tax on company profits, which is being strongly criticised by eurozone leaders, with France in the lead.

23 March 2011

After having introduced over months, austerity measures designed to overcome the government’s financial problems without having to rely on the European Union for support, Portugal’s socialist Prime Minister Socrates loses a parliamentary vote on a budget proposing even more austerity. He calls an early election.

25 March 2011

Euro zone member states agree on an intergovernmental treaty to set up the European Stability Mechanism, a fund meant to replace the European Financial Stability Facility, which will be dissolved. The European Stability Mechanism will provide financial support to euro zone members facing difficulties, and will have a permanent organization as of the year �013, with the participation of euro zone member states, and those other members of the European Union wishing to participate. Such participation by members of the Mechanism will be through capital allocations that would provide it with a lending capacity of up to a maximum of 500 billion. Malta’s share in this capital allocation is estimated at 511.7 million. Agreement is also reached on a “euro plus” pact by which members of the euro zone will strengthen compulsory economic coordination and financial surveillance. In sectors


like taxation, control over the public deficit, pensions, investment incentives and economic growth policies, they agree to develop a united front.

06 April 2011

Portugal requests financial assistance from the European Union and the International Monetary Fund.

17 April 2011

In Finnish elections, the populist True Finns Party overtakes the three major parties, following a campaign in which it strongly criticizes the financial assistance being extended to Portugal by the euro zone. The Centre Party which led the outgoing government coalition goes into Opposition. Other parties hold protracted negotiations to set up a new coalition excluding the True Finns. On �� June, a government is formed between six parties. It is led by Jyrki Katainen of the National Coalition Party and Finance Minister in the previous cabinet. During these negotiations and later, Finland maintains a hardline position in discussions about any financial backup to the euro zone’s problem countries, so as to prevent the True Finns from continuing to gain ground. The new governing coalition insists that if Finland is to lend to countries facing difficulties, these must agree to sell off their assets and provide collateral for loans made to them by other euro zone members.

03 May 2011

An agreement is announced regarding an aid package for Portugal through the European Financial Stability Facility, coupled to new austerity measures.


17 May 2011

The euro zone extends a loan of 78 billion to Portugal, part of which is to come from the European Financial Stability Facility, and another portion from the European Financial Stability Mechanism. As for Greece and Ireland, loans are conditional on a programme of austerity measures that Portugal must implement without delay.

January – June 2011

Greece’s financial situation continues to deteriorate, with strong protests against austerity measures still running. Pressure grows, not least from Germany, on banks and financial institutions which have over the years lent to Greece, to accept a write-down of the monies they have lent (“haircut”), without such an occurrence being interpreted as a Greek default. Meanwhile, in Germany and other countries having strong public finances (like Finland), public opinion swings against bailouts to euro zone countries considered to have been spendthrifts.

04 June 2011

There is a low electoral turnout in the Portuguese general election and the ruling Socialist Party loses to the Social Democratic Party led by Passos Coelho, which makes significant gains. On the �� June, following negotiations with the Christian Democratic Party, Passos Coelho forms a coalition government.

11 July 2011

Euro zone finance ministers sign the treaty establishing the European Stability Mechanism.


11 July 2011

A huge explosion in a military base in Cyprus knocks out the main power station on the island. In the ensuing disruption, there is concern that Cyprus might have to request financial assistance from the European Union, since its banks are greatly tied up with Greek loans, the economy is sliding and political instability is on the rise.

15 July 2011

The results of the third stress test on major European banks are published. Of the 90 banks that have been examined, 8 fail the test and 16 barely make the grade. The Bank of Valletta is again found able to overcome strong negative developments in the euro zone. Still, financial analysts criticize the tests as they do not take into account whether banks will be in a position to face up to radical changes like an eventual Greek default.

21 July 2011

Despite the austerity measures and the loan support Greece is receiving, the country’s financial situation remains dire. Euro zone leaders convince banks to accept a �1 per cent reduction in the value of their loans to Greece. It is estimated that this write-down amounts to a reduction of 37 billion in Greece’s outstanding financial exposure. However it is recognized that such a haircut will affect negatively the financial position of many banks. A further increase in financial support to Greece is agreed, by way of a new loan that would this time come from the European Financial Stability Facility, and not through a direct loan by member states of the euro zone.


It is estimated that on this basis, the total package of aid to Greece from the euro zone would reach 109 billion. In addition, conditions attached to loans extended to Greece, Ireland and Portugal are relaxed. At the same time, it is decided to widen the methods of operation of the European Financial Stability Facility, for instance by allowing it to buy up the bonds issued by euro zone member states. The Facility is endowed with more guarantees issued to it by member states to allow it to reach lending levels of up to 780 billion. Malta’s share in these guarantees rises from 398.44 million to 704.33 million.

July – September 2011

Financial markets remain in turmoil as worries grow about Greece as well as Spain and Italy. On �9 July, Spanish Prime Minister Zapatero calls for an election in November �011, four months early, and announces he is leaving politics. Big demonstrations continue to be held in Madrid and other cities to protest against austerity measures introduced by the government and unemployment. In Rome, the austerity programme launched by the Berlusconi government is not taken seriously by the markets and by European leaders. The European Central Bank sends a letter of warning to the Italian government but it is sidelined. Demonstrations and riots erupt in Rome. During September the French government launches austerity measures meant to counter growing suspicions that France’s financial situation is worsening.

29 September 2011

Following a decision by the German Constitutional Court


that all changes in the management of the euro zone must first be approved by the Bundestag, the government led by Chancellor Merkel lobbies hard and manages to obtain parliamentary approval for the package of support measures passed by euro zone leaders on the �1 July; by now there is a general feeling that these measures are insufficient.

10 October 2011

The Malta Parliament approves the measures decided on �1 July. It is announced that Malta’s disbursement towards Greek loans has reached the figure of 44 million.

11 October 2011

The Slovak parliament, the last one of the seventeen in the euro zone needing to approve the measures decided on �1 July, votes against. Two days later, the Parliament approves the measures as Prime Minister Iveta Radicova resigns, a transitional government is set up and early elections are called.

23 October 2011

Following bilateral discussions between German Chancellor Merkel and French President Sarkozy, leaders of the EU and of the euro zone meet to agree on new measures by which to support the euro, as well as on the release of another portion of the loan that Greece has been promised. Agreement is reached for all countries involved to ensure that the capital base of their banks will be increased so that they can hold out against any approaching turbulence. Meetings are adjourned for three days so that Merkel can request the approval of the German Parliament for new measures being envisaged.


Meanwhile, Italy is required to immediately present a serious plan for the containment of its national debt, which touches the level of 1�0 per cent of its Gross Domestic Product.

26 October 2011

The German Parliament approves new measures that will be presented for the decision of euro zone leaders.

26-27 October 2011

Leaders of the euro zone meet again. Separate discussions are held at the same time with bankers by which an arrangement is agreed to reduce Greece’s exposure to the banks by a half, allowing that country to reach by the year �0�0, a level of national debt compared to Gross Domestic Product of 1�0 per cent. The issue of a further tranche of the loan agreed in favour of Greece, is approved. Meanwhile, the capital base of the European Financial Stability Facility (EFSF) is raised to over a trillion euros, without any of the participating members having to increase their out of pocket commitments. A new austerity plan for Italy, presented by the Berlusconi government, is approved. Also, the euro zone meeting emphasizes the need for the implementation of measures meant to ensure all round discipline, surveillance and co-ordination regarding the budgetary policies of member states. Initially, these decisions are considered as a great step forward and are greeted with satisfaction.

31 October 2011

Despite the agreement reached in Brussels, premia paid on


Italian government bonds on financial markets reach a new high, as investors signal that they are not taking seriously proposals about the reform of Italian public finance. In a separate development, Greek Prime Minister Papandreou announces he will hold a referendum on the Brussels agreement. France and Germany express anger at his decison, which creates new turmoil in the euro zone.

01-03 November 2011

As endless demonstrations take place in Athens and other Greek cities, Papandreou is summoned to Cannes for a meeting with Merkel and Sarkozy. Disagreement ensues within the Greek cabinet and Papandreou withdraws his referendum proposal. He announces he will resign to make way for a transitional government after having obtained parliamentary approval for the agreement reached in Brussels. The Greek parliament votes in favour by a tiny margin.

08 November 2011

In Italy, the Berlusconi government fails to obtain a straight parliamentary majority in favour of reform measures agreed with European leaders, for inclusion in the state budget. The measures are approved only because Opposition MPs abstain. Prime Minister Berlusconi promises to resign as soon as the measures are passed by the Senate.

08 November 2011

The European Union Council of Ministers adopts six decisions carrying new, compulsory rules to determine how member states of the euro zone are honouring the Stability and Growth Pact of 1997. If when administering its budget,


a government fails to observe the stability and growth rules, it will become liable to “disciplinary” measures, including fines, on a basis that is almost automatic. These decisions, labelled “six-pack”, follow from long negotiations over the months between the European Commission, euro member states and the European Parliament.

09 November 2011

Greek Prime Minister George Papandreou resigns. Two days later, at the end of long negotiations between Greek political parties, a transitional government is set up, led by Lucas Papademos, a former Vice President of the European Central Bank; the government’s remit is to organize new elections at the end of a hundred days.

12 November 2011

Italian Prime Minister Berlusconi resigns when the Senate votes in favour of an austerity programme proposed by the government to satisfy the demands of euro zone leaders and to counter the growing pressure of the financial markets on Italian debt. Next morning, former EU Commissioner Mario Monti is appointed Prime Minister.

20 November 2011

In Spain’s general elections, the Opposition Popular Party wins a big majority as the popular vote of the ruling socialist party PSOE collapses.

24 November 2011

A general strike is held in Portugal to protest against the austerity measures, among which tax increases


and reductions in the conditions of government service, introduced during the first months of the coalition government led by the social democratic Prime Minister Passos Coelho. These measures are in line with the financial aid agreement reached with the euro zone and the International Monetary Fund.

November/beginning December 2011

Financial markets demonstrate an increasing lack of confidence in bonds issued by euro countries, especially Italy and Spain. Rating agencies warn that the major countries, including France, give cause for concern. European banks and financial institutions begin to place their overnight deposits with the European Central Bank instead of onlending them to each other as is the usual practice. The liquidity of European banks begins to dry up, threatening their ability to respect future obligations. The central banks of the world’s leading economies agree to relax their rules of operation to allow European banks to cope with these problems.

07 December 2011

At a meeting between German Chancellor Merkel and French President Sarkozy, agreement is reached about further measures to respond to the latest developments in the euro crisis. They send a letter outlining their proposals to the President of the European Council van Rompuy and to European Commission President Barroso.

08 - 09 December 2011

Agreement is not reached in the European Council regarding a new agreement on fiscal union within the euro zone after


the United Kingdom is denied the guarantees it requests to safeguard its financial sector. Agreement is concluded for the euro zone countries and those of the remaining European Union member states which would wish to do so, to finalize by March �01� an inter-governmental treaty to implement the proposals regarding a fiscal union put forward by Merkel and Sarkozy. These would include a constitutional rule to be adopted by all countries ensuring that the deficit in the budgets of euro zone governments necessarily stay below a given limit. In other decisions, the leaders agree to set up the European Stability Mechanism as of mid-�01� instead of �013; to continue with the operations of the European Financial Stability Facility even after the Mechanism has been launched; and to make new contributions from the central banks of euro zone countries and other member states of the European Union to the International Monetary Fund for a total of �00 billion which the Fund can then onlend to euro zone countries facing financial difficulties (Malta’s share is estimated at between 150 million and �00 million).

In the wake of the summit, financial markets continue to show that scepticism remains about whether the summit’s decisions will overcome the euro’s problems.

19 December 2011

While the United Kingdom declines to take part in the new contribution of �00 billion that European leaders have agreed to extend to the International Monetary Fund through their central banks, agreement is reached between euro zone countries and other members of the European Union about their respective shares in the


contribution for a total of 150 billion; Malta’s share is set at �60 million. Disagreement persists about whether the contributions that countries will be making to the European Stability Mechanism should be paid down all at once or whether payment should be carried out in annual installments.

24 December 2011

Cyprus and Russia sign a loan agreement for �.5 billion euros so that the island is able to cover its financing needs for �01�.

30 December 2011

In Spain, the centre-right Popular Party government led by Prime Minister Mariano Rajoy, announces that the country`s deficit for �011 will exceed 8 per cent of GDP. That goes far beyond the 6 per cent target set by the previous government.

13 January 2012

Standard and Poor’s downgrades the credit rating of a number of countries in the euro zone (Austria, Cyprus, France, Italy, Malta, Portugal, Slovakia, Slovenia and Spain), explaining that European leaders failed to respond sufficiently to the crisis in the euro zone.

End of January – beginning of February 2012

Greek Finance Minister Evangelos Venizelos, from the social-democratic political party (PASOK) in Greece, declares another EU Summit will be held on the 6th February to help work out a deal. Negotiations with Greece and its private creditors to write off a substantial part of its sovereign debt


have been standing still for weeks. Greek leaders agree on new austerity packages to cut spending even more in order to get the second bailout.

02 February 2012

The Treaty establishing the European Stability Mechanism (ESM) is signed by the member states of the euro zone, incorporating all the decisions taken by the heads of states and governments of the euro zone since July �011 It has to be ratified by the 17 euro zone countries and is scheduled to enter into force in July �01�

12 February 2012

With violent clashes taking place in the city of Athens between police and demonstrators, the Greek Parliament passes a new round of austerity measures to complete a package demanded by the euro zone and the IMF as a precondition for a new 130billion euro bailout.

21 February 2012

Euro zone leaders agree on the terms for a second bailout programme for Greece. The 130 billion euro bailout is conditioned upon sovereign debt holders, under a so-called private sector involvement (PSI) agreement, voluntarily accepting a haircut on their bonds of 53.3 per cent instead of 50 per cent as agreed before.

02 March 2012

The Heads of State or Government of the EU member states, with the exception of the United Kingdom and the Czech Republic, sign the Treaty on Stability, Coordination and Governance (TSCG) in the Economic and Monetary


Union. It aims to safeguard the stability of the euro zone as a whole. In Spain Prime Minister Mariano Rajoy announces that his centre-right People’s Party (PP) government is aiming for a deficit of 5.8 per cent of GDP in �01�, far higher than the country’s initial goal of 4.4 per cent.

09 March 2012

The Greek Finance Ministry reaches a crucial milestone, announcing an 85.8 per cent participation rate in the private sector involvement (PSI) operation. As a consequence, euro zone ministers approve the financing of the Second Economic Adjustment Programme for Greece, taking into consideration the positive report of the troika.

30 March 2012

The eurogroup (the committee of euro zone finance ministers headed by Luxembourg Prime Minister and finance minister Jean-Claude Juncker, which has been dealing with the zone’s affairs) increases the overall ceiling for the temporary European Financial Stability Facility (EFSF) and the permanent European Stability Mechanism (ESM) from 500 billion euros to 700 billion euros. Its new maximum lending is set at 500 billion euros and the existing programmes, worth about �00 billion euros, will continue to be financed by the EFSF.

12 April 2012

Italian borrowing costs rise, signalling new concern among international investors about the country’s capability to reduce its high debt.


18 April 2012

The Italian government lowers its forecast for the economy in �01�, from a drop of 0.4 per cent to one of 1.� per cent.

23 April 2012

The Dutch Prime Minister Mark Rutte resigns, after weeks of crucial talks to bring down the budget deficit from an expected 4.7 per cent to below 3 per cent in �013. The shrinking growth prospects of the Dutch economy make it essential to adopt extra measures in order to be able to reach the country’s deficit targets and correct the excessive deficit by �013.

22 April 2012

In France, the first round of Presidential elections takes place. The socialist candidate François Hollande wins the first round with �8.4 per cent, while the centre-right President Nicolas Sarkozy finishes second with �5.5 per cent.

06 May 2012

In France the second round of the French Presidential elections takes place. Hollande defeats Sarkozy by 51.9 per cent to 48.1 per cent. In Greece, the right-wing party New Democracy led by Antonis Samaras comes out on top with almost 19 per cent of votes, but no party has enough seats for an overall majority in Parliament (151 seats). The three main political formations, consisting of New Democrarcy, the Coalition of the Radical Left (SYRIZA) and the Panhellenic Socialist Movement (PASOK) fail to form a coalition within the timeframe given by the Greek constitution.


16 May 2012

New elections are announced in Greece after all efforts to form a coalition government fail.

07 June 2012

The creditworthiness of the euro zone’s fourth biggest economy, Spain, is downgraded by the rating agency Fitch to just above “junk status”

09 June 2012

The Spanish Minister of Economy Luis de Guindos announces that his country will make a request for up to 100 billion euros in loans from funds of the euro zone to support Spain’s struggling banks.

17 June 2012

The second round of elections in Greece ends with the pro-austerity party New Democracy getting most votes. Antonis Samaras is the new Prime Minister of Greece.

27 June 2012

The Cypriot government asks for financial assistance from the euro zone members and the IMF in order to tackle the distress in the country’s banking sector and macroeconomic imbalances. Meanwhile, the Spanish government requests financial assistance from euro zone members only to cover problems in propping up its banking sector. The eurogroup ministers approve the Commission’s assessment that the assistance is necessary to guarantee the stability of the euro.


29 June 2012

The leaders of the euro zone establish a new banking supervisory agent, to be run by the ECB, in order to tackle the tensions within the financial markets.

05 July 2012

The Greek Prime Minister, Antonis Samaras, has his first meeting with the representatives of the troika (European Commission, the European Central Bank and the International Monetary Fund).

12 July 2012

Staff teams from the European Commission, the ECB and the IMF overviewing the implementation of Ireland’s assistance package, give a positive review after a visit to Dublin. Despite a challenging environment and high unemployment rates the implementation of the programme remains on track.

20 July 2012

The eurogroup approves Spain’s request for emergency financing for the recapitalization of its financial institutions. Financial assistance will be provided by the European Financial Stability Facility (EFSF) until the European Stability Mechanism (ESM) becomes available to cover financial needs of up to 100 billion euros.

26 July 2012

ECB President, Mario Draghi, declares that the ECB will do “whatever it takes” to preserve the euro.


06 September 2012

The ECB announces how it will buy an unlimited amount of member states’ short term government bonds in the secondary market via a facility called the Outright Monetary Transactions Programme (OMT). It will be available for the member states that receive financial support through a euro zone financial assistance mechanism.

12 September 2012

Early elections are held in the Netherlands, following the collapse of Prime Minister (and Leader of the People’s Party for Freedom and Democracy) Mark Rutte’s minority coalition government. The People’s Party for Freedom and Democracy (VVD) receives a plurality of the votes, followed by the Labour Party (PvdA). The big losers are the Freedom party, headed by far-right populist Geert Wilders, which loses 9 seats in Parliament. The election campaign was dominated by the euro crisis.

12 November 2012

The eurogroup meeting fails to resolve the issue raised by a funding gap in the Greek programme. Public disagreement erupts between the IMF and the European partners on the sustainability of the Greek debt and the need for a second debt restructuring. The dispute is holding up the release of 31 billion euros in emergency loans needed to keep Greece afloat.

19 November 2012

Moody’s downgrades France from AAA to AA1, announcing that the country’s economic outlook remains “negative”.


27 November 2012

After the updated assessment of the troika on the reforms in Greece, the eurogroup decides to continue payments to Greece. Its assistance programme is extended for another two years. Disagreement over the sustainability of the Greek debt is resolved through a series of actions such as lowering the interest rate charged to Greece on loans already provided by euro states, in order to reduce the Greek public debt to 1�4 per cent of GDP by �0�0.

30 November 2012

Moody’s downgrades the credit rating of the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM).

06 December 2012

In Italy, the centre-right party of Silvio Berlusconi withdraws its support from Mario Monti’s technocratic government.

13-14 December 2012

The European Council agrees to establish a body to supervise banks’ performance on a European basis, to be called the Single Supervisory Mechanism (SSM). This will form part of a strategy to create a banking union within the euro zone. The SSM will be run by the ECB in tandem with national supervisory bank authorities.

13 December 2012

The eurogroup approves the gradual disbursement under the second economic adjustment programme of 49.1bn to be paid out in several tranches to Greece.


14 January 2013

European finance ministers approve the adoption of a new harmonized financial transaction tax (FTT) by eleven EU member states. The UK abstains in the vote together with Luxembourg and the Czech Republic. Malta opposes FTT.

21 January 2013

Dutch Finance Minister Jeroen Dijsselbloem replaces Jean-Claude Juncker as President of the eurogroup.

23 January 2013

British Prime Minister David Cameron declares that if his Tory Party wins the next elections, it would hold a referendum on continuing as an EU member after having conducted negotiations to redefine the conditions of membership.

07 February 2013

The European Council reaches an agreement over the new Multiannual Financial Framework (MFF) which covers the years �014-�0�0 and determines the EU’s budgeting perspectives for those years. For the first time the EU’s budget, which accounts for 960 billion euros, or 1 per cent of the EU’s GDP, is reduced.

17 February 2013

In Cyprus, the first round of presidential elections ends with the centre-right party (DYSI) leader Nikos Anastasiadis winning the vote.


24 February 2013

At the second round of Cypriot presidential elections Nikos Anastasiadis is elected President of Cyprus.

24-25 February 2013

In Italian elections, the centre-left coalition of Pier Luigi Bersani wins the vote with a slim majority over the centre-right coalition of Silvio Berlusconi. Prime Minister Monti’s party, clearly preferred by EU leaders, secures only 18 seats.

09 March 2013

In Malta, the Opposition Labour Party led by Joseph Muscat wins general elections by a huge landslide.

15-19 March 2013

At a tough eurogroup meeting, ministers agree on a financial support package of 10 billion euros for Cyprus. Part of the deal is a one-off bank deposit levy of 6.7 per cent for deposits up to 100,000 and 9.9 per cent for higher deposits to be imposed by Cyprus on all domestic bank accounts. In the wake of large demonstrations against the levy and a run on bank cash machines, the deal is rejected by the Cypriot Parliament on 19 March.

24-25 March 2013

The eurogroup announces that an agreement has been reached with the Cypriot authorities on the key elements necessary for a future macroeconomic adjustment programme, including a safeguard for all bank deposits below 100,000 euros.


28 March 2013

The Portuguese Constitutional Court rejects four out of nine contested austerity measures included in the year’s budget. These include cuts in pensioners’ and public servants’ holiday allowances and reductions to sickness leave and unemployment benefits, creating a gap of 1.3 billion euros in Portugal’s budget.

18 April 2013

An agreement is reached with the European Parliament for the creation of a Single Supervisory Mechanism (SSM).

27 April 2013

Enrico Letta accepts to lead a grand coalition government following the resignation of socialist leader Pier Luigi Bersani who has been unable to form a government in the wake of general elections.

13 May 2013

The European Financial Stability Facility disburses 4.� billion euros to Greece, as the first sub-tranche of an installment which amounts to 7.5 billion euros. The same day the first installment of � billion euros out of 3 billion euros from the support mechanism for Cyprus is also transferred, with the outstanding 1 billion to be disbursed before the end of June.

13 May 2013

The European Council adopts the so-called ‘two-pack’ regulations which aim to further improve economic governance in the euro zone. The pack includes a regulation


on enhanced monitoring and assessment of draft budgetary plans of euro zone member states, with closer monitoring for those in an excessive deficit procedure and another regulation on enhanced surveillance of euro zone Member States experiencing or threatened by serious financial difficulties, or requesting financial assistance.

17 May 2013

The European Stability Mechanism releases 4.� billion euros for Greece. This disbursement is the first sub-tranche of an EFSF payment which amounts to 7.5 billion euros whilst the second sub-tranche of 3.3 billion euros will be released in June �013, after having implemented the agreements in the Memorandum of Understanding (MoU) as decided between Greece and the troika.

29 May 2013

The European Commission recommends termination of the excessive deficit procedure (EDP) for Italy, Latvia, Hungary, Lithuania and Romania and that it opens an EDP for Malta. Since its accession, Malta has twice been subject to an EDP. The first was launched in July �004 and the second in July �009. The Maltese authorities announced in April �013, that the general government deficit had reached 3.3 per cent of GDP in �01�.

31 May 2013

President Hollande meets German Chancellor Merkel in Paris. The discussions focus on the proposal that the 17 members of the euro zone appoint a full-time president of the eurogroup and hold more regular summits in order to coordinate better and to deepen economic and monetary union.


11 June 2013

The Maltese Parliament ratifies the fiscal pact. Debate on the subject was started in October �01� but a decision was still pending when March �013 elections were called.

11 June 2013

Athens announces the closure with immediate effect of its state broadcaster (ERT) to cut jobs in the public sector and meet bailout terms. The Democratic Left party withdraws from the government. The European Commission states that it cannot advise member states how to organise their public service broadcaster, nevertheless pointing out their important contribution to European values like media pluralism and freedom.

24 June 2013

The European Financial Stability Facility (EFSF) approves the extension of the maturities of its loans to Ireland (17.7 billion euros) and Portugal (�6 billion euros) in the framework of their assistance programmes in order to “enhance the confidence of market participants” and “protect Ireland and Portugal from refinancing risks”.

27 June 2013

The European Council sets out its position on how to deal with bank failures by adopting a single system to resolve failed banks in the euro zone and the EU, while strengthening supervision and stability in the financial sector. Future bailouts will be financed by bank shareholders, while protecting essential bank operations and diminishing taxpayers’ exposure to losses.


08 July 2013

The eurogroup mandates its Working Group (EWG) to approve the next EFSF installment for Greece, which amounts to 3.0 billion euros. The first tranche will be paid to Greece in July – of which �.5 billion euros will come from the EFSF – and the disbursement of the second sub-tranche of 0.5 billion euros will be made in October �013, linked to the implementation of the Memorandum of Understanding milestones, as agreed between Greece and the troika. In addition an amount of �.0 billion euros will be transferred from repayments of profits from the portfolios of central banks of the euro zone.

12 September 2013

The European Parliament gives the green light for the set-up of the single supervisory mechanism which will bring some 150 of the EU’s largest banks under the ECB’s direct supervision as of September �014, “a real step forward in setting up a banking union”, according to ECB President Draghi.

22 September 2013

Federal elections are held in Germany to elect the members of the 18th Bundestag (of Germany). The Christian Democratic Union/Christian Social Union (CDU/CSU) of Chancellor Angela Merkel achieves their best result since 1990, with nearly 4� per cent of the vote and nearly 50 per cent of the seats. However, their coalition partner the Free Democrats (FDP) fail to get seats in the Bundestag for the first time in their history. Merkel’s party reaches a “grand” coalition agreement on


the �7th November �013 after several weeks of negotiations with the main opposition party the Social Democrats (SPD).

07 November 2013

The European Central Bank decreases its basic interest rate to 0.�5 per cent in order to counter falling prices and stimulate economic recovery.

14 November 2013

The eurogroup welcomes Spain`s successful implementation of its financial sector programme. Spain will exit it in January �014, without requesting any further financial assistance from the ESM. Irish Minister of Finance, Michael Noonan, announces that his country will exit its adjustment programme on 15 December, to become the first euro zone country to exit an EU and International Monetary Fund bailout.

21 November 2013

Greece’s ongoing assistance programme is cancelled for a second time and the troika delegation leaves Athens. Substantial differences remain between the Greek coalition government and its lenders (EU Commission, European Central Bank and International Monetary Fund). The major concern is the size of the pending deficit in the Greek budget for �014.

22 November 2013

For the first time, the eurogroup discusses member states’ draft budgetary plans before they get confirmed by national parliaments. In their conclusions the members welcome the


fact that no draft budgetary plan was found to be in serious non-compliance with the Stability and Growth Pact (SGP).

30 November 2013

Moody’s upgrades the Greek economy by raising its credit rating two notches to Caa3 from C, still below investment grade.

15 December 2013

Ireland exits the bailout programmes and returns to the financial markets to fund its budgetary requirements. The country was saved from bankruptcy with an 85 billion euro bailout programme that lasted for three years. Irish ministers and the European Commission point out that the policy of austerity must still continue, in order to bring down Ireland`s public debt level, set at 1�4 per cent of GDP for �013

18 December 2013

European Finance Ministers reach a deal over the Single Resolution Mechanism (SRM), a board which will decide which banks in crisis should be bailed out and will then organize the bailout. This is considered an essential step towards a European banking union.

01 January 2014

Latvia becomes the 18th member of the euro zone.

22 January 2014

As announced in November, Spain is the second member state to exit the bank bailout programme, agreed in July �01� to cover a 41.3 billion euro prop for the country’s banking


sector. In the meantime the country`s unemployment rate has risen to over �6 per cent, the second highest unemployment rate in the EU after Greece’s.

22 February 2014

Matteo Renzi becomes Italian Prime Minister after taking over as leader of the (Socialist) Democratic Party following Enrico Letta’s resignation in the wake of criticism at the slow pace of reform.

10 March 2014

The Council of Ministers launches the Fund for European Aid to the Most Deprived (FEAD). Worth 3.8 billion euros for the period �014 to �0�0, it will support member states’ social emergency relief schemes. It will include a broad range of non-financial material assistance including food, clothing and other essential goods for personal use such as shoes, soap and shampoo, to be supplied to poor people.

01 May 2014

The ESM reaches its target level of 80 billion euros in paid-in capital. The final tranche of 15.7billion euros is transferred by the members of the mechanism, thus completing a process of capitalisation that started in October �01� when the ESM was inaugurated.

05 May 2014

The Prime Minister of Portugal Pedro Passos Coelho says that his country would exit its 78 billion euro bailout programme this month, without a precautionary credit line, as the country returns to growth after three years of strict and painful austerity and unpopular reforms.


The disbursement of a 6.3 billion euro tranche by the EFSF is approved for Greece. The country’s primary surplus is confirmed, according to the definition established in the economic adjustment programme.

07 May 2014

The ESM issues a 3 billion euro 5-year bond. Orders received from investors worldwide exceed 8 billion euros.

22-25 May 2014

The eighth European elections since 1979 are held. For the first time, the pan-European political parties have proposed candidates (“Spitzenkandidaten”) for the position of President of the European Commission, in an effort to strengthen the democratic credentials of the Union. Roughly one quarter of all seats are won by parties sceptical of the EU or by protest parties. The voter turnout is slightly in excess of 4� per cent.

25 May 2014

In Belgium federal and regional elections are held and a few days later negotiations start to form a new federal government as well as new regional governments (Flemish, Walloon, French community and Brussels). A government of the German-speaking community is formed only a few days after the elections.

02 June 2014

Portugal’s supreme court rejects once more a series of planned austerity measures. It rules as unconstitutional plans to cut welfare and public sector payments by between � and 1� per cent.


03 June 2014

The EU and the IMF suspend Portugal`s final �.6 billion euro tranche of the bailout loan, because of the ruling by Portugal’s supreme court.

09 June 2014

In Greece, following his party’s substantial defeat in the European elections, Prime Minister Antonis Samaras reshuffles his cabinet but offers no indications of a substantial policy change.

19 June 2014

The eurogroup decides that Lithuania fulfills the criteria to join the euro zone in �015

07 July 2014

The Board of Directors of the ESM approve a 600 million euro disbursement to Cyprus, after approving the review of the country’s macroeconomic adjustment programme and a Memorandum of Understanding detailing conditions to cover the disbursement. The eurogroup also approves the disbursement of the next aid tranche worth 1 billion euros to Greece.

25-26 August 2014

French Prime Minister Manuel Valls resigns following public stands taken by three ministers. including Arnaud Montebourg, responsible for the economy, against the socialist government’s austerity policies. These ministers leave the government to which Valls is reappointed as head. Former investment banker Emmanuel Macron is named economy minister.


28 August 2014

Mario Draghi President of the ECB in a speech at Jackson Hole, USA, remarks that in order to counter economic stagnation and unemployment “it would be helpful... if fiscal policy could play a greater role alongside monetary policy and I believe there is scope for this”.

14 September 2014

General elections are held in Sweden to elect the Swedish Riksdag. The Prime Minister’s Social Democratic Party gets 31 per cent of the votes.Together with the Green Party’s 6.9 per cent, the left-of-centre coalition thereby achieves 37.9 per cent. The centre-right Alliance, which includes the Moderate Party, the Liberal Party, the Centre Party and the Christian Democrats, collect 39.4 per cent of the votes. Since Sweden has a system of negative parliamentarism, by which a government can stay in power as long as it doesn’t have a majority against it, the Social Democrats and the Greens can form a (minority) government by themselves.Stefan Löfven from the Social Democratic party of Sweden becomes Prime Minister.

04 October 2014

Parliamentary elections are held in Latvia and a party mainly supported by ethnic Russians wins the largest number of votes. The Harmony party, led by the mayor of Riga, Nil Ushakov, wins �3 per cent of the votes in the elections, while the coalition of three current ruling parties has 56 per cent between them.

13 October 2014

Discussion in the eurogroup focuses on the need to boost


investment, generate growth and create jobs. Concerning Cyprus, the fifth assessment of its programme is left pending, because an effective legal framework for private debt restructuring has still not been established. Meanwhile, Greece’s progress over the past summer is acknowledged, though some measures that had been agreed are still pending.

22 October 2014

The European Parliament approves the newly formed European Commission. Jean-Claude Juncker is the President of this newly elected Commission which is bound to take charge of the new executive on 1 November.

26 October 2014

As part of the build-up towards a banking union, the results of new stress tests on European banks are published. 130 banks in the euro zone (including Lithuania) have been covered, or approximately 8� per cent of total bank assets. One in five banks in Europe fail to meet the capital requirements set by the ECB as a �5 billion euro capital hole is discovered in the asset base of the already fragile European banking system. Three Maltese banks (including BOV and HSBC) pass the test but they will need to overhaul parts of their operations. With gaps of 9.41 and 8.7� billion euros respectively, Italy and Greece account for the largest shortfalls. The world’s oldest bank, Italy’s Banca Monte dei Paschi di Siena, is assessed a shortfall of more than � billion euros which it will have to bridge in the coming nine months.

01 November 2014

The new European Commission assumes office.


26 November 2014

European Commission President Juncker announces a 315 billion euro Investment Plan to get Europe out of economic stagnation and high unemployment. The Plan is based on the creation of a new European Fund for Strategic Investments (EFSI), which will be guaranteed with public money. �1 billion euros will come out of the EU budget, including 5 billion euros from the European Investment Bank (EIB) which “translates” into more than 60 billion euros in loans and guarantees. Levering these amounts with private money is expected to bring the fund up to 315 billion euros. A second element of the Juncker plan is the establishment of a “credible” project pipeline coupled with an assistance programme. Thirdly, the aim is to improve and launch single market policies in strategic sectors in order to make Europe more attractive for investment; a roadmap for making this happen is published. In his appeal to the national governments of the EU to support the package, Juncker proposes that contributions made by member states to the fund would be exempted from calculations of budget deficits and debt under the rules of the Stability and Growth Pact.

28 November 2014

The European Commission concludes that the budgets of seven countries (including Austria, Belgium, Malta and Portugal) in the eurozone are at risk of non-compliance with the rules of the Stability and Growth Pact. In the case of France, Italy and Belgium, the Commission will again examine the situation in March �015 to check on the actions undertaken to implement changes in line with SGP rules.


18 December 2014

In its conclusions, the European Council endorses the Juncker plan and “calls for the setting up of a European Fund for Strategic Investments… with the aim to mobilize 315 billion euros in new investments between �015 and �017”. It also backs Juncker’s intention to get the Fund moving by June �015 However, no member state pledges a contribution to the Fund.

29 December 2014

At its third try, the Greek Parliament fails to elect a new President, triggering a political crisis. Early elections are called.

13 January 2015

The European Commission presents new guidelines on how it will apply “flexibility” in interpreting and implementing the rules of the Stability and Growth Pact (SGP) in order to better strengthen the link between structural reforms, investment and fiscal responsibility in support of jobs and growth.

22 January 2015

The ECB announces an expanded asset purchase programme, under a policy option labeled “quantitative easing”. The ECB will purchase sovereign bonds to the tune of 60 billion euros per month starting March �015 in addition to its existing private sector asset purchase programmes, in order to address the risks of a too prolonged period of low inflation that is further dimming growth prospects. Monthly “quotas” will be allocated to Central Banks


in eurozone member states for the bonds of their national governments to be bought in secondary markets. The allocation to Malta’s Central Bank is about 36 million euros monthly.

25-26 January 2015

Greek elections are held and the Coalition of the Radical Left Syriza wins a historic victory, with 36 percent of the vote, an eight percentage point lead over the New Democracy party of Antonis Samaras, the outgoing prime minister. Syriza falls just short of an absolute majority, with 149 seats in the 300-seat parliament. Its leader Alexis Tsipras is sworn in as Prime Minister and quickly forms a coalition with the nationalist Independent Greeks party.

12 February 2015

The Syriza government begins to negotiate a four-month extension to Greece’s bailout in return for dropping key anti-austerity measures and maintaining a eurozone-approved reform programme.

24 February 2015

The eurogroup approves the Greek government’s proposals to extend its 17� billion euros bailout for another four months during which the Greek government will negotiate new terms for the bailout. Though this represents a big retreat from Greece’s original demands, the IMF and ECB still raise concerns over the new plan.

25 February 2015

The European Commission grants France more time to


bring its budget deficit below the EU limit of 3 per cent of GDP, meaning the eurozone’s second-biggest economy will avoid a fine for the moment. France is given till �017, to reduce its budget deficit from the projected 4.1percent of GDP in �015 to below 3 percent.

27 February 2015

The German Bundestag approves the extension of Greece’s bailout programme.


II. IL-KRIÛI STABBILIZZATA/STABILIZING THE CRISIS

Jannar – Mejju 2012; January – May 2012

Understanding the Euro Crisis – An interview 109

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UNDERSTANDING THE EURO CRISIS – AN INTERVIEW

What triggered the euro crisis? When a given territory has a common currency, it carries the same exchange rate all over while interest rates are set on the same basis. But if there is no common economic policy because different parts of the territory operate as separate countries, economic conditions and government budgets will vary. If they vary hugely, as happened in the euro zone, places with high unemployment and inflation say, will be operating under the same financial terms as areas with opposite conditions. Weak economic performers will be buying and selling as if they were top of the walk. So long as the going is good, they can borrow like there’s no tomorrow. When the going gets bad, they find they cannot pay back what they owe or the interest on it.

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What are EU leaders led by Germany and France doing at all these summits we hear about? Do you agree with what they are proposing/implementing? The only way, economically, by which to solve the crisis once for all is to create a central federal government for the zone. Politically, nobody wants this, and for good reasons. The Franco-German solution is to create strong controls on how national governments can budget. All members of the zone would be subject to outside controls, which again will infringe their national sovereignty. I doubt whether this will work, not least because it means imposing austerity right through the euro zone. So what do you think is going to happen to the euro? A lot is at stake for the elites who conceived the euro

German Chancellor Angela Merkel with French President Nicholas Sarkozy – 2011.

Understanding the Euro Crisis – An interview 111

project. They will not let it go down the drain. So we’ll see new measures introduced to control the ways by which countries spend and borrow. Will this convince the global financial markets to onlend and invest in the euro zone? Up to now they have remained sceptical. We’ll see the euro stagger along for the foreseeable future. Beyond that, who knows?

You have always maintained that we shouldn’t have joined the euro when we did. When Malta joined the EU, there was an obligation to eventually adopt the euro. We did that prematurely. First we should have allowed more time for our economy to adapt fully to operating under EU rules and to restructure meaningfully. Secondly, we should have made sure to switch from the lira to the euro at an exchange rate that would have preserved the competitiveness of our exports but we did not. Thirdly we should have waited till the euro project itself became viable.

What would you suggest is the best course for Malta now euro-wise? We need to be fiscally prudent, while establishing limits for our involvement in euro support funding. Guarantees and loans as our contribution to help stabilize the euro system now total close to 18 percent of Malta’s GDP. Beyond that, on a national basis, contingency planning regarding the euro should prepare for what can happen, downside as well as upside.


What do you believe can the “man in the street” expect during 2012 when it comes to utility bills, cost of living, job opportunities etc? If the expectation is negative, can you suggest measures to soften the blow? Austerity now prevails right across the euro zone and it will be like so in Malta, as for the past few years. What we should have been – and are not – doing, is cut public waste, introduce effective measures to promote productive investment and improve economic competitiveness while using any arising financial slack to reduce hardship.

(Interview with Colin Fitz, First Magazine, January 2012)

Il-bastiment tal-bnazzi fiç-çaqliq tal-maltemp 113

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IL-BASTIMENT TAL-BNAZZIFIÇ-ÇAQLIQ TAL-MALTEMP

Din is-sena l-ewro jag˙laq 10 snin mindu da˙al fiç-çirkolazzjoni ta’ w˙ud mill-pajjiΩi membri. Madanakollu m’hemmx arja ta’ çelebrazzjoni fl-UE. XettiçiΩmu Ωejjed jew ottimiΩmu kawt?

La wa˙da u lanqas l-o˙ra. Na˙seb li hemm biΩa’ fost il-membri taΩ-Ωona ewro li biex il-problemi tassew ji©u ma˙lula, se jkun hemm ˙tie©a ta’ soluzzjoni li jew ˙add ma jrid jew ˙add mhu m˙ejji g˙aliha: ji©ifieri ta’ g˙aqda ekonomika li prattikament tkun tfisser gvern wie˙ed fi ̇ dan iΩ-Ωona ewro. Politikament din hi soluzzjoni li tista’ tqajjem problemi kbar g˙ax tfisser imbag˙ad li kul˙add ikollu j˙addem l-istess miΩuri ta’ tmexxija f’taxxi u f’servizzi soçjali – jew kwaΩi, waqt li fl-istess ˙in, dawk l-in˙awi miΩ-Ωona li jaqg˙u lura, isibu awtomatikament min jg˙addilhom il-fondi biex ikunu jistg˙u jibqg˙u jiffunzjonaw. Il-popli li jinsabu sejrin tajjeb xejn mhuma se jie˙du gost, g˙ax jistg˙u jqisu li qed ikollhom jissussidjaw lil min hu aktar g˙aΩΩien jew anqas ˙awtiel minnhom. Waqt li l-popli li sejrin ̇ aΩin jistg˙u jqisu

113


li qed ikollhom içedu mil-libertà tag˙hom biex jg˙ixu ta˙t kontroll barrani, effettivament mill-Ìermanja.

Kienet il-kriΩi finanzjarja fid-dinja li wasslet g˙al din is-sitwazzjoni jew g˙ax kien hemm pajjiΩi li ©ew aççettati fl-ewro meta s-sitwazzjoni finanzjarja tag˙hom ma kinitx tajba?

Na˙seb li l-problema fondamentali tal-ewro dejjem kienet li, kif g˙adni kemm semmejt, teΩisti b˙ala munita li qed tiççirkola fost sbatax-il pajjiΩ li g˙andhom kollha l-gvern tag˙hom b’politika ekonomika differenti. Qatt qabel dil-˙a©a ma ©rat. Biex tag˙qad, fost il-pajjiΩi mda˙˙la fiΩ-Ωona ewro, hemm differenzi kbar fil-livelli ta’ Ωvilupp ekonomiku. Fi ktieb li ˙ri©t ix-xahar li g˙adda, Malta u l-ewro ddiskutejt dan l-argument mill-qieg˙. Fir-realtà, il-pro©ett tal-ewro kien sa mill-bidu nett tieg˙u, u g˙adu, pro©ett


politiku. Mexxejja Ewropej influwenti... jien ng˙idilhom elites tal-poter... riedu l-munita komuni fl-Ewropa, ming˙ajr ma riedu jikkommettu rwie˙hom g˙al g˙aqda ekonomika s˙i˙a g˙ax kienu jafu li l-popli dan ma riduhx. Il-kompromess li waslu g˙alih – dak ta’ g˙aqda tal-muniti ming˙ajr g˙aqda ekonomika – ma kienx vijabbli. Kien bastiment sabi˙ g˙all-bnazzi, imma li fit-taqlib seta’ jinbaram bil-kbir. Biex tg˙axxaqha, kif g˙edt int, il-firxa politika u territorjali tal-ewro twessg˙et billi fiΩ-Ωona tag˙ha dda˙˙lu pajjiΩi b’ekonomiji relattivament dg˙ajfa mqabbla ng˙idu a˙na ma’ tal-Ìermanja. U˙ud komplew jg˙arrqu s-sitwazzjoni billi, b˙all-Greçja, ippreΩentaw statistika ekonomika u finanzjarja mhux korretta dwar fejn kienu jinsabu. Jien lanqas nag˙tihom wisq tort, la kien hemm dik il-pressjoni politika qawwija biex kollha jidhru “Ewropej” tajba billi jing˙aqdu maΩ-Ωona ewro. Aktar nag˙ti tort lil min kien qed imexxi l-proçeduri li bihom pajjiΩ jid˙ol fiΩ-Ωona, ji©ifieri l-Kummissjoni Ewropea, li kellha l-obbligu tiΩgura li l-affarijiet kienu qed isiru sew. Fil-fatt, ma kinux.

Il-Greçja hija l-iktar pajjiΩ mifni bil-problemi fost dawk li adottaw l-ewro. Kienet hi li ̇ olqot din l-instabbilità fiΩ-Ωona ewro jew kienet l-ewwel vittma taç-çirkostanzi?

B˙ala membru taΩ-Ωona ewro, barra milli t˙alliet turi statistika Ωbaljata dwar l-andament ekonomiku tag˙ha, il-Greçja setg˙et tibbenefika sakemm baqa’ l-bnazzi, mill-istess kundizzjonijiet ekonomiçi b˙all-Ìermanja u pajjiΩi ferm aktar qawwija minnha. PereΩempju setg˙et tissellef b’img˙ax baxx ˙afna. U fil-fatt, il-gvernijiet Griegi baqg˙u jissellfu – u jonfqu – bla qies. Ftit wara li faqqg˙et il-kriΩi finanzjarja tas-snin �007/�008, dawk li sellfu lill-Greçja


bdew jindunaw li din mhix se jkollha minn fejn t˙allas. Jekk se npo©©uha b’dal-mod, nistg˙u ng˙idu li iva, il-Greçja kienet l-ewwel “vittma” taç-çirkostanzi.

Ta˙seb li s-sitwazzjoni fil-Greçja tista’ twassal g˙al ‘domino effect’ fil-pajjiΩi l-o˙ra? Fosthom dawk fin-na˙a t’isfel b˙all-Italja, Spanja u l-Portugall?

Id-‘domino effect’ li qed issemmi di©à jinsab mag˙na. Fil-fatt, id-diffikultajiet finanzjarji li qed jaffaççjaw çerti pajjiΩi fiΩ-Ωona ewro jvarjaw minn pajjiΩ g˙al pajjiΩ. Imma b˙ala parti miΩ-Ωona ewro sabu li ma tantx g˙andhom kif jo˙or©u mill-problemi ˙lief dik biss li jnaqqsu mid-djun tag˙hom u mill-img˙axijiet li bihom tg˙abbew. L-istess pajjiΩi ma setg˙ux jag˙mlu aktar b˙al fis-snin l-img˙oddija, li jibdlu r-rata tal-kambju tal-munita tag˙hom pereΩempju, jew jirran©aw ir-rati tal-img˙ax fil-pajjiΩ ˙alli jnaqqsu l-piΩijiet tad-djun, jew inkella jg˙addu xi inçentivi ©odda lill-impriΩi tag˙hom ̇ alli jg˙inuhom ikampaw. B˙ala membri taΩ-Ωona ewro, dawn il-manuvri kollha issa kienu saru projbiti. Biex inaqqsu l-piΩijiet tad-djun fuqhom, il-pajjiΩi milquta kellhom imilu ta˙t il-pressjoni li saret fuqhom biex jekk xtaqu jing˙ataw appo©© finanzjarju minn “s˙abhom” taΩ-Ωona ewro, iridu l-ewwel jistinkaw bil-kbir biex inaqqsu l-ispiΩa tag˙hom, ̇ alli jkollhom minn fejn imbag˙ad iroddu lura d-djun li g˙amlu. MaΩ-Ωona tal-ewro xterdet g˙alhekk dak li qed tissejja˙ il-politika tal-awsterità, fejn il-gvernijiet jissikkaw u jer©g˙u jissikkaw iç-çinturin billi jnaqqsu l-benefiççji soçjali, l-impjiegi u l-benefiççji tal-gvern waqt li jΩidu t-taxxi. Il-problema b’dil-politika hi li meta tnaqqas in-nefqa tal-gvern, mhux l-anqas fl-investimenti li l-gvernijiet jag˙mlu,


se tkompli tg˙akkes l-ekonomija. Se jkun hemm anqas nefqa u konsum, anqas bejg˙ u xiri, u dan jaffettwa l-prospetti g˙all-futur kif ukoll l-impjiegi. L-aktar li pprotestaw kontra li jinsab g˙addej huma l-partiti soçjalisti u t-trejdjunjins Ewropej. Waqt li l-galbu u t-tnaqqis fl-ispiΩa pubblika huma me˙tie©a, l-awsterità qed twassal biex id-dalma ekonomika u finanzjarja tikber mhux tonqos.

G˙aliex donnu li huma l-pajjiΩi fin-na˙a t’isfel tal-Ewropa li g˙andhom sitwazzjoni finanzjarja prekarja mentri f’dawk taç-çentru tal-Ewropa u tan-na˙a ta’ fuq il-qag˙da tidher a˙jar?

G˙al ˙afna jidher li l-aktar pajjiΩi li kellhom ila˙˙qu ma’ sitwazzjoni finanzjarja prekarja kienu dawk tan-na˙a ta’ isfel. Imma fil-fatt mhux hekk. Veru li l-aktar li ntlaqtu kienu min-na˙a ta’ isfel tal-Ewropa, imma l-politika ta’ awsterità


qed tit˙addem fl-Irlanda, fi Franza, fil-Bel©ju u anki fil-Ìermanja: fil-pajjiΩ tal-a˙˙ar, tnaqqis li kien imwieg˙ed tat-taxxi baqa’ ma sarx u minn g˙axar snin ilu, inbeda traΩΩin qawwi tal-pagi u tal-kundizzjonijiet tax-xog˙ol tal-˙addiema ÌermaniΩi, li g˙adu sejjer sal-lum. Franza qed titqies b˙ala pajjiΩ fejn jistg˙u jiΩdiedu r-riskji kkawΩati mid-djun tag˙ha jekk ma jirnexxux il-miΩuri li qed tie˙u biex tikkontrolla l-ispiΩa u t˙arrek it-tkabbir ekonomiku. Hemm fattur ie˙or li jservi ta’ theddida g˙all-ekonomiji “ta’ fuq”. Min˙abba l-fatt li l-ewro g˙aqqad il-kontinent Ewropew madwar munita wa˙da, il-produtturi u l-impriΩi tan-nord sabuha aktar façli li jbig˙u lil tas-sud. Dawn tal-a˙˙ar xtraw kemm fel˙u u kienu lesti jissellfu kemm hemm bΩonn biex jibqg˙u jag˙mlu hekk. Il-produtturi u l-impriΩi tan-nord po©©ew il-qlig˙ tag˙hom fil-banek “ta’ fuq” li allura kellhom fondi kbar xi jsellfu. U sellfu dawn il-fondi lill-pajjiΩi “ta’ isfel” biex dawn ikunu jistg˙u jkomplu jixtru mill-impriΩi “ta’ fuq”! Ji©ifieri, kieku l-pajjiΩi tas-sud kellhom jikkollassaw jew ma j˙allsux id-djun tag˙hom, mag˙hom jaqilg˙u taptipa kbira, jekk ma jikkollassawx ukoll, il-banek tan-nord, ˙a©a li tkun ta’ dannu kbir g˙all-ekonomiji “ta’ fuq”.

Kif t˙ares lejn it-trattat li se ji©i ffirmat f’Marzu li ©ej bil-g˙an li jkun hemm iktar dixxiplina fiskali fil-pajjiΩi membri? Kif ta˙seb li se jolqot lil pajjiΩna?

It-trattat hu ma˙sub biex il-pajjiΩi kollha taΩ-Ωona ewro jsegwu l-istess regoli u l-istess dixxiplina meta ji©u biex ifasslu l-ba©its tag˙hom. Se jkollhom ida˙˙lu regola fil-kostituzzjonijiet tag˙hom li tipprojbilhom milli jag˙mlu ba©its b’defiçit akbar minn çertu ammont, u se jkollhom


jintrabtu li jekk jaqg˙u lura fl-impenji tag˙hom, tinda˙al il-Kummissjoni Ewropea minn Brussell jew xi awtorità o˙ra u tobbligahom isegwu r-regoli. Il-Ìermanja tinsab wara dawn il-bidliet li huma mfassla fuq kif tmexxew il-finanzi pubbliçi fil-Ìermanja fl-a˙˙ar snin. Permezz tad-dixxiplina fiskali li l-membri taΩ-Ωona ewro se jkunu mistennija jsegwu b’riΩultat ta’ dal-patt, hu mistenni li tittaffa l-problema l-kbira ta’ bejn is-17-il membru taΩ-Ωona ewro: dik li ma g˙andhomx tmexxija ekonomika wa˙da. M’iniex konvint li dil-biçça se ta˙dem kif qed jg˙idu li se ji©ri. Hu çar li pajjiΩi Ωg˙ar b˙al Malta se jkollhom isegwu r-regoli imma, meta ni©u g˙all-pajjiΩi kbar, jekk dawn ifettlilhom jinjoraw il-patt jew ma jkunux jistg˙u jsegwuh, x’se ji©ri tassew? Qabel twieldet iΩ-Ωona ewro, kien ©ie ffirmat Patt ta’ Stabbiltà u Tkabbir li kellu jil˙aq l-istess g˙anijiet, g˙alkemm ma kienx strett daqs il-patti fiskali tal-lum. Imma min kienu l-ewwel pajjiΩi li kisruh? Il-Ìermanja u Franza, fl-ewwel nofs tad-deçennju li g˙adda. U ˙add ma qalilhom xejn. Dan serva ta’ sinjal biex pajjiΩi o˙ra, bil-Greçja fuq quddiem nett, ji©u jitmell˙u huma wkoll mill-˙tie©a li jikkontrollaw l-ispiΩa tag˙hom, mhux jonfqu “bl-addoçç”. G˙andi wkoll dubji kbar dwar kemm dan il-patt se jkun ta’ ©id g˙all-iΩvilupp ekonomiku ta’ pajjiΩna. Jidhirli li se nkunu de˙lin f’sidrija, jew a˙jar pançiera li ovvjament tfasslet bla ebda ˙sieb dwar kemm tg˙odd g˙aç-çirkostanzi ta’ gΩira Ωg˙ira b˙al tag˙na. Hu evidenti li la ninsabu membri fiΩ-Ωona tal-ewro, se jkollna naççettaw ir-regoli tat-tmexxija tag˙ha, ming˙ajr wisq çans li nkunu nistg˙u naffettwaw lil dawn ir-regoli ˙alli n©ibuhom jirriflettu ç-çirkostanzi tag˙na.

1�0 MALTA u l-ewro/& the euro (2)

Jekk tag˙mel ftit kalkoli, malajr issib li skont dal-patt fiskali li se nid˙lu fih, l-a˙˙ar sitt ba©its tal-gvern Malti ma kinux jistg˙u jsiru g˙ax ma kinux ikunu konformi mieg˙u. Jekk naraw x’inhuma l-esi©enzi l-aktar importanti li g˙andna quddiemna, na˙seb li fuq nett ti©i l-˙tie©a li nkabbru r-rata tal-investiment tag˙na. Nemmen li fiç-çirkostanzi attwali, jekk gvern ikun irid jil˙aq dil-mira se ji©i mxekkel bil-kbir mill-patt fiskali. Imbag˙ad jien wie˙ed minn dawk – sej˙ilhom “antikwati” jekk trid, ma jimportax – li g˙adhom jemmnu fl-indipendenza ta’ Malta. Nemmen daΩgur li t-tmexxija ba©itarja tal-gvern, ikun liema gvern ikun, trid tibqa’ wa˙da serja u prudenti. Tmexxija ta’ gvern li tibqa’ to˙loq il-˙ofor finanzjarji m’g˙andhiex tkun aççettabbli. Imma n˙ossha bi tqila naqbel ma’ proçedura li biha se nag˙tu lil xi ˙add minn barra l-poter li jid˙ol fuq il-gvern Malti, jg˙idlu x’g˙andu jag˙mel, jikkore©ih jew jibdillu d-deçiΩjonijiet tieg˙u... qisna g˙adna fiΩ-Ωmien meta konna nitmexxew mill-Colonial Office f’Londra. Minflok dan tal-a˙˙ar, se jkun hemm teknokratiçi anonimi fi Brussell u fi Frankfurt li se jkunu qed jaslu g˙ad-deçiΩjonijiet tag˙hom biex jibdlu d-deçiΩjonijiet tal-gvern tag˙na. Bir-rispett kollu, ir-riΩultati li kisbu dawn l-istess nies matul l-a˙˙ar g˙oxrin sena fit-tfassil u t-tmexxija taΩ-Ωona ewro xejn ma kienu impressjonanti: bil-maqlub! U sadattant, is-sovranità ta’ pajjiΩna baqg˙et titnaqqar fl-a˙˙ar snin u se tibqa’ titnaqqar biex ikunu huma li jie˙du r-riedni f’idejhom. Hemm miljuni u miljuni ta’ çittadini fil-pajjiΩi l-o˙ra tal-ewro li qed ja˙sbu l-istess ˙a©a b˙ali.

Hemm min hu xettiku dwar kemm l-ewro jista’ jsalva. U hemm min sa˙ansitra qed ibassar li l-ewro


se jisfaxxa. Kemm tarah xenarju possibbli dan? U x’implikazzjonijiet ikollu g˙all-UE b’mod ©enerali?

L-ewro bl-istrutturi tieg˙u hu kif g˙edna, fuq kollox pro©ett politiku. Warajh hemm l-aqwa elites tal-poter fl-Unjoni Ewropea li investew fih kapital politiku enormi. Diffiçli tist˙ajjel li dawn se jaççettaw li j˙allu lill-ewro jisfaxxa u allura se jag˙mlu minn kollox biex iΩommuh g˙addej. Di©à rajna pereΩempju kif fl-a˙˙ar xhur, dwar kwistjonijiet ta’ sovranità nazzjonali kien hemm irtirata kbira lejn sistemi ta’ tmexxija çentrali. Min-na˙a l-o˙ra, iΩ-Ωona ewro qed tg˙um fil-ba˙ar tas-swieq finanzjarji li llum jinsabu mifruxa mad-dinja kollha – huma globalizzati. Il-


fondi f’dawn is-swieq itellg˙u triljuni fuq triljuni ta’ assi u jg˙idu xi jg˙idu l-Ewropej, bir-regoli attwali, dawn il-fondi se jmorru dejjem fejn isibu l-akbar profitti. Bid-deçiΩjonijiet politiçi li l-elites Ewropej jie˙du mhux se jirnexxilhom jikkontrollaw l-im©iba ta’ dawn is-swieq, li sal-lum ftit dehru impressjonati b’kif iΩ-Ωona ewro qed tilqa’ g˙all-problemi fondamentali tag˙ha. Kieku l-ewro kellu jisfaxxa f’daqqa u b’mod diΩastruΩ ikun hemm effetti serji kemm fl-Ewropa u kemm fil-bqija tad-dinja. Ma ninsewx li s-suq tal-Unjoni Ewropea issa hu l-akbar tad-dinja. Min-na˙a l-o˙ra jeΩistu skemi dwar kif b’mod ordnat u ppjanat, iΩ-Ωona ewro tkun tista’ jew tin˙all jew, b’mod aktar realistiku, tiçkien biex tinkorpora biss lill-ekonomiji l-aktar avvanzati, dawk li jqarrbu lejn l-ekonomija ÌermaniΩa. Fil-kaΩ li jkollha tittie˙ed din it-triq, xorta jkun hemm konsegwenzi serji imma ma jkunux g˙alkollox ta’ barraminnhawn.

X’g˙andu jsir biex l-ewro jissa˙˙a˙? Ta˙seb li g˙ad jasal iΩ-Ωmien fejn l-UE jkollha politika komuni fil-qasam ekonomiku kollu?

Awtoritajiet b˙all-Fond Monetarju Internazzjonali qalu li jkun a˙jar jekk iΩ-Ωona ewro ΩΩid fil-fondi li bihom qed tiddefendi lil dawk il-pajjiΩi li mhumiex ila˙˙qu mal-problemi tad-djun. Imma fuq quddiem nett il-Ìermanja qed tirreΩisti li jsir dan. U tifhem g˙aliex. Anki jekk nie˙du lilna b˙ala pajjiΩ çkejken, is-sehem li d˙alna g˙alih f’dawn l-a˙˙ar tliet snin hu enormi g˙alina. Mhux ta’ b’xejn li qatt ma nisimg˙u lill-gvern jitkellem dwaru. Bejn self dirett lill-Greçja, bejn garanziji mog˙tija u mwieg˙da liΩ-Ωew© fondi separati ta’

Il-bastiment tal-bnazzi fiç-çaqliq tal-maltemp 1�3

g˙ajnuna finanzjarja li waqqfet iΩ-Ωona ewro u bejn il-fondi li l-Bank Çentrali Malti se jpo©©i fil-Fond Monetarju Internazzjonali ̇ alli jintuΩa g˙aΩ-Ωona ewro, l-obbligi kollha tag˙na llum ila˙˙qu bejn biljun u biljun mitejn miljun ewro. L-ironija hi li meta da˙˙alna l-ewro, il-Prim Ministru Gonzi kien stqarr li b’hekk se nkunu qed niΩguraw l-istabbiltà tal-munita tag˙na. Imbag˙ad hemm il-˙tie©a li fiΩ-Ωona tal-ewro jer©g˙u jirrankaw l-ekonomiji biex jo˙olqu x-xog˙ol u l-©id. Sa issa, kif di©à semmejna, bil-politika ta’ awsterità li nfirxet maΩ-Ωona ewro, tqawwiet il-klima tar-riçessjoni u kompla jiΩdied il-qg˙ad fost iΩ-Ωg˙aΩag˙. Kellna ˙afna diskors dwar il-˙tie©a li l-ekonomija Ewropea ting˙ata spinta ’l quddiem imma ma tantx sa issa rajna jittie˙du inizjattivi konvinçenti. Mhux ta’ b’xejn li t-trejdjunjins Ewropej jinsabu inkwetati ˙afna. Inizjattivi b˙at-tnedija tal-patt fiskali suppost iressqu aktar lejn g˙aqda ekonomika. Fil-fatt il-federalisti Ewropej qed jaraw fil-kriΩi tal-ewro opportunità biex l-Unjoni Ewropea tersaq aktar lejn l-ideal tag˙hom ta’ Ewropa federali, naturalment bi strutturi ta’ g˙aqda ekonomika. Ner©a’ ng˙id: il-komplikazzjoni f’dil-˙a©a tinsab hawn: li g˙aqda ekonomika ©©ib mag˙ha dik li tissejja˙ g˙aqda ta’ trasferimenti finanzjarji – ji©ifieri li meta na˙a tal-unjoni ekonomika taqa’ lura finanzjarjament jew ekonomikament, b’mod awtomatiku jkun hemm çaqliq ta’ flus u riΩorsi minn min sejjer tajjeb lejn min sejjer ˙aΩin. Sal-lum, il-Ìermanja xejn ma trid tisma’ b’dil-˙a©a.

(Intervista ma’ Gaetano Micallef, l-orizzont, 06 ta’ Frar 2012)


O5

ON DIKTATS AND DEFICITS – WHAT’S IT ALL ABOUT?

In past weeks Malta has been showered with outside reviews, critiques and ratings regarding our economic performance. With others, I have strongly criticized the conduct of economic policy in this country. However, one cannot but feel uneasy at what’s going on. For the outside inputs about Malta’s economy are hardly distinguishable from directives telling the government what to do. One was in fact exactly that: the European Commission disagreed with the government’s projections for this year and ordered it to cut its spending. The Finance Minister duly reduced by 40 million expenditure commitments which he had passed through Parliament. The reduction was announced in a press release that got eclipsed by a botched cabinet reshuffle. Certainly, the move was part of procedures to which over the past two years Malta, as part of the euro zone, has agreed. Given the crisis caused by spiralling national debts and the absence of a unified economic policy within the euro

1�4

On diktats and deficits – what’s it all about? 1�5

zone, its members accepted to let the Commission oversee their budgetary operations. There are six regulations or directives under which national budgets will be vetted by the EU Commission to ensure that euro governments keep to rules such as that their annual deficit remains less than 3 per cent of Gross Domestic Product. The Commission now has power to force governments change their decisions, unless they want to face eventual sanctions.

PROMISES AND OUTCOMES

The rules are being tightened further under the fiscal stability pact which has been rammed through by Germany and France. The pact will require the introduction of some constitutional diktat, ensuring that budgets are always practically in surplus. It will give other euro states the right to seek sanctions from the European Court of Justice against other states, if they fail to follow the rules. Now it is clear that any government anywhere should follow prudent budgetary policies. Also, since the euro is Malta’s national currency, there is little we can do to avoid following rules intended to shore up its ongoing failures and restore it to credibility. However, it is difficult not to feel deep disquiet. Five years ago, the Maltese were promised that by adopting the euro, their national currency would be guaranteed stability. Instead we got caught in turmoil over which we have no control. As of now, our commitment to bolster the euro and underwrite the national debt of others stands at between 1.� to 1 billion in loans to Greece, guarantees actual and

promised, plus monies pledged to euro zone funds and to the IMF. The amount is piddling by the standards of big


countries, enormous by ours. Yet there has been minimal debate about these developments. More: we are increasingly surrendering control over the management of our public finances. Technocrats in Brussels and Frankfurt will pass judgement over what Malta’s finance minister projects and what Parliament decides. Diplomatic verbiage cannot hide the reality: their verdict and what to do about it will be binding on Parliament and government. There is no appeal.

SOVEREIGN CONTROLS

Some have said that this could be a good thing. It will prevent politicians, present and future, from pandering to constituents and playing loose with public finance to truck in votes. There is that side to it, if you like. But virtue imposed from outside or “above” works best in kindergartens. Such imposed virtue contradicts claims that a state, large or small, is sovereign and democratic. In this context, notions that proclaim “shared sovereignty” or “interdependence” clearly amount to fudge. Others discount these considerations, labeling them “euro sceptic”. By the same token, their counter claims could be equally classed as “euro fanatic”. Coincidentally, most of those who fall in this category do quite well out of the euro connection, by way of pay, contracts, consultancies and sinecures. Beyond these labels though, the real question is: to whom are we surrendering our sovereignty? Evidently, Maltese political leaders and managers are not top of the world. Will European technocrats based in Brussels and Frankfurt do any better for Malta?


Today all agree that the euro project was a totally political one. That its economic foundations were shaky and would buckle under pressure was admitted right from the start by none other than Jacques Delors, its conceptual founder, and former president of the European Commission. Meanwhile, the euro is being retained in its present format also for political reasons. From the start, the intention had been to bring as many EU member states on board as soon as possible. That attitude ran across the EU Commission and other bureaucracies which oversaw the euro system. I well remember how in the middle of the last decade, EU Commissioner Almunia brusquely countered arguments that Malta needed more time before it joined the euro. He emphasized how it made sense for all those willing to join, to do so soonest. Presumably that viewpoint was applied to other candidates.

Joaquin Almunia: countered arguments that Malta needed more time


Today, it is fashionable to decry the “fraudulent” irresponsibility of Greek authorities in publishing incorrect data about their public finance, by which they “duped” other euro governments. But surely, it takes two to tango. European bureaucrats, central bankers, commissioners and finance ministers accepted the Greek submissions at face value. Could they have been that naïve? None have been held accountable. Many remain in charge of the system. Are they, or their successors, going to be any better? On the evidence, not. They will follow the prevailing political wind and ride it for all it is worth, blanking out all dissent. Austerity has become the order of the day across Europe. Is it working? Unless there is economic growth, even if radical spending cuts are implemented, it will be hard to eliminate budget deficits as a percentage of (shrinking) GDPs. Sometimes though, the penny drops. So as at the most recent “informal” European Council, proposals for “new” growth measures were trumpeted as a breakthrough. Their central plank featured the need to strengthen the European single market. Is this what is really needed? Beyond the achievement of free trade in goods, as the single European market was being further extended, economic growth in EU member states and within the EU as a whole lagged behind that of their major trading partners, barring Japan.

GROWTH AND AUSTERITY

Italian Prime Minister Monti is among those pushing for growth strategies in tandem with the austerity policies prevailing in the euro zone. He too has been proclaiming


that further “deepening” of the European single market would help do the trick. Echoing this idea (or should I say dogma?) EU Commission President Barroso has argued that if further development of the single market encouraged all European SMEs to hire just one additional worker, the huge unemployment problem that now afflicts Europe would be solved. Two years ago, Professor Monti was asked by Barroso’s Commission to prepare a report on measures to further strengthen the European single market. In the report, one reads that �0 million EU medium, small and micro enterprises constitute the backbone of the European economy. However, only 8 per cent of SMEs engage in cross border trade and only 5 per cent have set up subsidiaries or joint ventures “abroad”. Given this reality, it is difficult to understand how deepening the European single market will compensate for today’s austerity and generate an employment boom in the short to medium term. Or consider another measure aimed to counteract austerity, namely the faster and earlier release of EU structural and other funds to projects in EU member states. What seems to have been overlooked is that the EU itself has a serious cash flow problem. Expenditures from last year are being carried forward to this year’s budget for payment, presumably curtailing commitments for the current year. The truth is that we are locked in a game where economic decisions are designed to carry forward past political dogmas and decisions. Meanwhile, measurements of economic and financial performance still relate to benchmarks set out in the late nineties, on the basis of the data available when the first stability and growth pact was drawn up. These benchmarks are one-size-fits-all, like the 3 per cent of GDP


rule for annual budget deficits, and have become fetishes which all must honour. And the system is being overseen from a distance, by very well paid bureaucrats who while loaded with the mistakes of the past are strengthened by the power of being unelected and unaccountable. Their track record has been dismal. Yet we are surrendering to them effective control over the country’s budgetary policy. There’s more than enough reason to consider these developments with disquiet.

(The Times, 24 February 2012)

Bejn awsterità u qg˙ad 131

06

BEJN AWSTERITÀ U QGÓAD

Fil-bidu ta’ Diçembru tas-sena �011 kienu ltaqg˙u l-mexxejja taΩ-Ωona ewro biex jiddeçiedu kif se jkomplu jilqg˙u g˙all-kriΩi tal-ewro li dejjem g˙addejja. Kien irnexxielhom je˙ilsu mill-gvern tal-PASOK fil-Greçja u jda˙˙lu gvern ta’ koalizzjoni mmexxi mill-bankier Papademos. B’hekk, il-ftehim g˙al self ©did lill-Greçja mil˙uq f’Ottubru ta’ qabel, seta’ jimxi ’l quddiem. Kienu raw lill-gvern ta’ Berlusconi fl-Italja jikkollassa wara li da˙˙al il-programm tal-awsterità li riedu minnu, biex warajh twaqqaf gvern “teknokratiku” ta˙t il-Professur Monti. U waslu g˙al qbil biex ikun hemm sa Marzu ta’ dis-sena ftehim fuq patt fiskali ©did. Bih il-gvernijiet membri taΩ-Ωona ewro se jintrabtu biex, g˙al li ©ej, ma j˙allux l-ispiΩa tag˙hom tog˙la aktar mid-d˙ul. Kollha kellhom jorbtu dan l-arran©ament fil-kostituzzjoni tag˙hom. Il-Ìermanja u Franza xprunaw dawn il-bidliet u deçiΩjonijiet. Il-pajjiΩi l-o˙ra qablu li jag˙mlu kif qalu t-tnejn il-kbar. Kienet il-Kançillier Merkel tal-Ìermanja li faqqset u mbuttat il-pjan g˙al patt fiskali ©did bir-rabta ma’ regola kostituzzjonali li tbarri d-defiçit fil-ba©it tal-gvern. Hi regola li tirrifletti l-prattika ÌermaniΩa.

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Minn mindu ntla˙aq il-“ftehim” ta’ Diçembru, se˙˙et firxa ta’ Ωviluppi fuq diversi fronti. Kif mistenni, il-Kunsill ta’ Diçembru ma ©abx tmiem g˙at-tweg˙ir taΩ-Ωona ewro. Id-deçiΩjonijiet tieg˙u sabu skoll wara l-ie˙or meta ©ew biex jitwettqu. Imma kif kien mistenni wkoll, ir-rieda politika biex l-ewro ma jit˙alliex jikkrolla baqg˙et qawwija biΩΩejjed. Forsi jkun tajjeb g˙alhekk li nag˙tu ˙arsa lejn u˙ud mill-fronti ewlenin ta’ din is-saga li qed ikollha effett akbar u akbar fuq il-prospetti ta’ miljuni fuq miljuni ta’ ˙addiema u familji Ewropej.

IL-PATT FISKALI

B’mod kurjuΩ, l-aktar ˙a©a li mxiet ’il quddiem kienet it-t˙ejjija tal-patt fiskali bejn il-pajjiΩi taΩ-Ωona ewro. Issa dan hu ftehim ma˙sub biex jorbot idejn il-gvernijiet. Il-mexxejja politiçi mhux se jkunu jistg˙u jonfqu aktar minn çerti ammonti; u se jkollhom jie˙du passi biex inaqqsu d-djun ta’ pajjiΩhom u dan b’mod tassattiv. Waqt li jimmina s-sovranità tal-pajjiΩi konçernati, inkluΩa Malta, dan kollu se jxekkel il-possibbiltà li gvernijiet jie˙du minn rajhom miΩuri speçjali biex jilqg˙u g˙al xi riçessjoni pereΩempju, jew ˙alli j˙arsu l-impjiegi, fost affarijiet o˙ra. Imma ta˙t l-g˙afsa tal-Ìermanja, il-ftehim f’dal-qasam intla˙aq f’qasir Ωmien u mistenni li ji©i ffirmat dalwaqt. Madankollu, kien di©à g˙addej proçess ie˙or, li di©à jeΩisti u li bih il-Kummissjoni Ewropea skont ftehim mil˙uq fl-ewwel nofs tas-sena �011 bejn il-pajjiΩi tal-ewro, kellha tifli l-ba©its tal-pajjiΩi Ewropej. Imbag˙ad, kellha tg˙id jekk dawn il-ba©its kinux t˙ejjew skont ir-regoli tal-Patt ta’ Stabbiltà u Tkabbir li bih kienet tnediet iΩ-Ωona ewro. Jekk


il-Kummissjoni Ewropea tqis li xi ba©its ma jkunux saru b’dal-mod, hi ng˙atat il-poter li tara kif se jinbidlu. Hekk qieset il-Kummissjoni li kellu ji©ri fir-rigward tal-ba©it Malti u dak ta’ numru ta’ pajjiΩi o˙ra. Biex jilqa’ g˙all-kritika tal-Kummissjoni, il-gvern Nazzjonalista minnufih bidel il-ba©it g˙as-sena �01� li kien g˙adda mill-Parlament. Wieg˙ed li se jnaqqas l-ispiΩa b’ 40 miljun. Kemm tassew se jag˙mel hekk, na˙seb li nsiru nafu wara li tkun g˙addiet l-elezzjoni li jmiss.

IL-QAGÓDA EKONOMIKA

Sadattant, il-qag˙da ekonomika fil-pajjiΩi tal-ewro baqg˙et te˙Ωien. Min˙abba t-taqlib dejjem g˙addej, ix-xog˙ol, il-bejg˙ u x-xiri baqg˙u jista©naw... jew marru g˙all-ag˙ar. Il-biΩa’ minn riçessjoni ©dida re©a’ sar realtà. F’linja ma’ dan, t˙arrku wkoll l-a©enziji li jeΩaminaw il-qag˙da finanzjarja ta’ pajjiΩi u impriΩi, u li wara, jag˙tu ©udizzju dwar kemm dawn huma finanzjarment ta’ fiduçja. L-a©enziji bdew jo˙or©u fehmiet negattivi dwar il-futur ta’ biçça kbira mill-pajjiΩi tal-ewro, fosthom Malta, imma anki pajjiΩi kbar b˙al Franza. Dan l-iΩvilupp kompla jqajjem kontroversja. Ûied mal-fehma li l-kriΩi tal-ewro se tkattar il-problemi ta’ xog˙ol u negozju fl-Ewropa. Waqt li n-numru ta’ nies qieg˙da qed jil˙aq çifri rekord f’˙afna pajjiΩi, il-perspettivi ta’ ˙idma ekonomika aktar qawwija fix-xhur li ©ejjin baqg˙u jonqsu, mhux l-anqas fil-Ìermanja. Il-biçça l-kbira tal-pajjiΩi ewro ng˙ataw tnaqqis fil-marka tal-fiduçja tag˙hom (“credit rating”) proprju g˙ax kienu membri taΩ-Ωona ewro. B’hekk tqies li jinsabu so©©etti g˙at-tweg˙ir li din g˙adha ssofri minnu. Kienet ironija kbira g˙al pajjiΩna li messitu l-istess xorti, wara li


da˙˙alna l-ewro b˙ala l-munita nazzjonali bil-weg˙da tal-Prim Ministru Gonzi li b’hekk konna se niggarantixxu l-istabbiltà tal-munita nazzjonali. Imbag˙ad, kien hemm çaqliqa o˙ra li ftit ing˙atat attenzjoni fil-bullettini tal-a˙barijiet. Imma kellha effett importanti ˙afna fl-a˙˙ar ©img˙at. G˙enet sew biex g˙al xi Ωmien jittaffew il-pressjonijiet li Ω-Ωona tal-ewro kienet i©©arrab.

JITÓARREK IL-BANK ÇENTRALI EWROPEW

Fl-a˙˙ar xhur, ˙afna mit-tweg˙ir kien qed jin˙ass l-aktar mill-banek kbar u Ωg˙ar tal-Ewropa. Huma sellfu bil-qawwi fl-img˙oddi, inkluΩ lil stati kbar, u issa kienu daharhom mal-˙ajt. Kienu qed jaffaççjaw talbiet g˙al ˙lasijiet u g˙al self ©did li ˙olqulhom saram kbir. Fiç-çirkostanzi dejjem jitqalu tal-ewro, kienu qed jing˙alqulhom il-bibien fejn minnhom qabel kienu jsibu jissellfu l-flus biex imexxu n-negozji tag˙hom. Il-banek bdew jitilfu l-fiduçja f’xulxin. Kieku l-biçça kellha tkompli sejra hekk, u˙ud bassru li konna se nersqu lejn kollass ta’ ˙afna banek Ewropej u wara minnufih taΩ-Ωona ewro. G˙al xi Ωmien, il-banek çentrali tal-Istati Uniti, taç-Çina u tal-Ìappun ̇ adu miΩuri mhux tas-soltu biex jag˙tu appo©© lill-banek Ewropej li kienu qed jispiççaw bla fondi kontanti. Hawn da˙al matul Diçembru l-Bank Çentrali Ewropew. Beda jsellef g˙at-tul lill-banek Ewropej biljuni ta’ ewro bl-img˙ax baxx ta’ 1 fil-mija. Din il-˙idma ftit ©ibdet l-attenzjoni tal-istampa imma kienet kruçjali biex isserra˙ mo˙˙ id-diri©enti tal-banek kbar. L-intervent tal-Bank Çentrali Ewropew kien massiçç. La˙˙aq is-somma ta’ 489 biljun u ta nifs ©did lis-settur bankarju.


Strettament dak li l-Bank g˙amel kien lil hinn mir-regoli ta’ tmexxija tieg˙u. Jidher li fi ̇ dan l-istess bank kien hemm dissens s˙i˙ dwar x’kien qed isir, ta˙t it-tmexxija tal-President il-©did Draghi. Il-Ìermanja li dejjem tis˙aq fuq kif il-Bank irid jibqa’ bog˙od minn kull kalkolu politiku ma ˙aditx gost. Imma jidher ukoll li fiç-çirkostanzi, malajr xtered l-g˙arfien li ftit seta’ jsir mod ie˙or. Fil-fatt, il-Bank Çentrali Ewropew ˙abbar li fl-a˙˙ar ©ranet ta’ Frar, se jer©a’ jo˙ro© self ©did massiçç ie˙or “bl-ir˙is” lill-banek.

IL-KRIÛI GRIEGA

Fil-©rajja kollha l-aqwa intriçç baqa’ dak tal-Greçja. Bid-deçiΩjonijiet li ttie˙du f’Ottubru u Diçembru tas-sena li g˙addiet mill-mexxejja tal-ewro, suppost kien hemm qbil çar dwar Ωieda fl-g˙ajnuna ta’ self lill-Greçja, dwar aktar miΩuri ta’ awsterità li l-pajjiΩ kellu jie˙u, u dwar tnaqqis qawwi tas-self (b’“ma˙fra”) li l-banek privati kellhom mieg˙u. Imma n-negozjati biex id-“dettalji” ta’ dawn l-arran©amenti ji©u mitmuma ˙adu l-©img˙at. Qamu kumplikazzjonijiet enormi. Minn na˙a, tqanqlu problemi politiçi hekk kif nibet dissens kbir fil-Parlament Grieg konta l-miΩuri proposti. Fit-toroq ta’ Ateni u fi bliet o˙ra Ωdiedu l-protesti tal-poplu kontra l-awsterità li kienet se titqawwa. Fl-a˙˙ar skattat vjolenza kbira f’Ateni. Kien hemm riΩenji mill-gvern. It-tielet partit Ωg˙ir tal-lemin telaq ’il barra mill-kabinett. Il-partit il-kbir tal-lemin, li mistenni jirba˙ l-elezzjoni li jmiss, beda jg˙id li ried bidliet fil-pakkett ta’ miΩuri maqbula mal-Ewropej u mal-Fond Monetarju Internazzjonali. Hawn il-mexxejja taΩ-Ωona ewro ̇ adu l-linja li jekk mhux


se jkun hemm ftehim miktub mill-partiti kollha li qed jaqblu mal-miΩuri kollha, se jikkançellaw kollox. Il-Ìermanja, jew il-ministru tal-finanzi tag˙ha, qalet/qal sa˙ansitra li ried(et) kontroll dirett fuq it-tmexxija tal-finanzi pubbliçi Griegi. Kontra dil-proposta, anki l-President tar-Repubblika Griega rvella. Fl-a˙˙ar instabet formola ta’ kompromess li biha ©ew addottati l-miΩuri kollha bil-qbil formali taΩ-Ωew© partiti l-kbar. L-aqwa skoll qam quddiem l-g˙arfien li l-Greçja mhix qed iΩΩomm mal-miri tal-ftehimiet li kienu di©à saru. L-esperti mibg˙uta mill-Ewropej u l-Fond Monetarju Internazzjonali rrapportaw li t-twettiq ta’ g˙add ta’ miΩuri kif imwieg˙ed mill-Greçja kien waqa’ lura sew. Fl-istess ˙in, setturi privile©©jati tas-soçjetà Griega kienu qed jit˙allew ipappuha, qisu xejn ma kien xejn g˙alihom. Dan kompla renda lill-pajjiΩi kbar involuti fis-self il-©did aktar kawti u insistenti li mhux se jo˙or©u aktar fondi ming˙ajr ma jkollhom iç-çertezza li flushom se jintefqu tajjeb. Imma forsi problema akbar minn din kienet l-ekonomija Griega: bl-awsterità g˙addejja, din baqg˙et tiçkien. Il-piΩ tad-djun li ma setg˙etx tla˙˙aq mag˙hom kien qed jitqal, mhux je˙fief. L-inkwiet fost il-pajjiΩi li l-aktar kienu kommessi f’self lill-Greçja Ωied jitqawwa. Fuq quddiem nett, re©a’ kien hemm il-Ìermanja: kalkoli li saru juru li l-Ìermanja issa tinsab esposta fuq il-Greçja g˙as-somma favoluΩa ta’ ftit anqas minn 7� biljun. Minn dal-lat ma tantx tista’ tag˙ti tort lill-ministru tal-finanzi ÌermaniΩ Schauble meta stqarr li l-aqwa interess tieg˙u kien dak li j˙ares l-interess tat-taxpayer ÌermaniΩ. U sadattant ukoll, il-Fond Monetarju Internazzjonali li kien mill-bidu nett involut fis-“salvata©©” tal-Greçja, ra kif


inaqqas mis-sehem tieg˙u g˙at-tieni pakkett ta’ “g˙ajnuna”. Did-darba, beda jsir diskors fil-miftu˙ dwar kif l-a˙jar triq se tkun li l-Greçja to˙ro© miΩ-Ωona ewro. Imma mill-©did, ˙akmet id-dinamika politika. Hemm wisq kapital politiku involut fit-tmexxija taΩ-Ωona ewro biex il-mexxejja tag˙ha jaççettaw xi forma ta’ “falliment”. Dil-©img˙a, fl-a˙˙ar “instabu” l-arran©amenti tekniçi biex bihom it-tieni pakkett ta’ appo©© finanzjarju lill-Greçja, li ilu ©ej minn Ottubru �011, jibda jit˙addem. Se jkun jiswa xi 130 biljun f’impenji finanzjarji ©odda. Il-Greçja kellha taççetta sorvelja u kontrolli ©odda miΩ-Ωona ewro fuq il-modi li bihom tonfoq kemm il-flejjes ©odda li se jkunu die˙la u kemm id-d˙ul intern minn taxxi u sorsi o˙ra Griegi. Ming˙ajr dal-pakkett, f’nofs Marzu l-Greçja kienet tispiçça falluta.


IL-VERA KRIÛI

Na˙seb li ˙add mhu qed jistenna li wasalna fit-tmiem tal-kriΩi. Anki jekk bil-mod il-mod, il-Greçja jirnexxilha titla’ fil-wiçç ming˙ajr aktar dnewwa, ˙a©a li jg˙idu xi jg˙idu, ma tantx tidher probabbli… Baqa’ problemi o˙ra kbar li jridu ji©u ffaççjati. Mit-tliet pajjiΩi li sa issa kellhom problemi gravi biΩΩejjed biex ji©©ustifikaw l-intervent dirett ta’ g˙ajnuna finanzjarja miΩ-Ωona ewro – ji©ifieri l-Greçja, l-Irlanda u l-Portugall – l-Irlanda biss tidher li bdiet tistejqer finanzjarjament (imma mhux ekonomikament jew soçjalment). Rapporti jg˙idu kif il-Portugall mhux ila˙˙aq mal-miri mpo©©ija fil-programm ta’ g˙ajnuna tieg˙u g˙ax l-ekonomija marret lura wisq bil-miΩuri ta’ awsterità li ttie˙du. Sadattant, mill-Italja, il-Prim Ministru Monti li wettaq il-miΩuri kollha li wieg˙ed li se jwettaq, pubblikament g˙amel Ωew© ilmenti. L-ewwel, li kien jistenna li s-swieq finanzjarji “japprezzaw” aktar l-isforzi li qed jag˙mel pajjiΩu. U t-tieni, li mal-Ewropa kollha, il-˙tie©a issa hi li barra mill-awsterità, tidda˙˙al politika li tag˙ti prijorità lit-tkabbir ekonomiku u lill-˙olqien ta’ impjiegi ©odda. Hawn tinsab il-vera sfida li Ω-Ωona tal-ewro... anzi l-Ewropa kollha... mhix jirnexxilha tilqa’ g˙aliha. Ninsabu maqbuda f’morsa fejn fi Ωmien ta’ tweg˙ir ekonomiku, il-gvernijiet qed ikollhom jag˙fsu fuq it-tnaqqis tal-ispiΩa. Dan qed ikompli jnaqqas l-opportunitajiet ta’ tkabbir fin-negozji u fix-xog˙ol. It-trejdjunjins ilhom mill-bidu nett jilmentaw dwar dil-˙a©a. Illum anki l-gvernijiet qed jg˙iduha... meta forsi hu tard wisq. Aktar u aktar g˙ax il-proposti li qed isiru biex l-ekonomiji jer©g˙u jing˙ataw spinta ’l quddiem ftit huma konvinçenti. Tal-anqas lili hekk jidhruli.


Sadattant, miljuni fuq miljuni ta’ Ωg˙aΩag˙ u ˙addiema o˙ra mhuma jaraw l-ebda perspettiva ta’ titjib fil-qrib. G˙ax biex tg˙axxaqha, ˙afna impjiegi prekarji (li jeΩistu bil-kbir, mhux billi jg˙idu s-sidien) qed ikomplu jintilfu. Fl-a˙˙ar mill-a˙˙ar quddiem dik li hi l-vera kriΩi, iΩ-Ωona ewro ma resqet lejn l-ebda soluzzjoni bil-ftehim mil˙uq dil-©img˙a mill-ministri tal-finanzi dwar g˙ajnuna lill-Greçja… li suppost kienet ©iet irran©ata f’Ottubru li g˙adda.

(It-Torça, 26 ta’ Frar 2012)


07

AÓNA U L-PATTFISKALI TAL-EWRO

Waqt l-a˙˙ar laqg˙a tal-Kunsill Ewropew li saret fl-ewwel jiem ta’ dax-xahar, il-pajjiΩi taΩ-Ωona ewro, inkluΩa Malta, iffirmaw patt fiskali ©did. In-negozjati g˙al dat-trattat bdew f’Diçembru li g˙adda. Il-Ìermanja u Franza insistew li min qieg˙ed jew se jkun fiΩ-Ωona ewro g˙andu jinΩamm b’miri soda u qawwija aktar minn qabel, dwar kif se jmexxi l-ba©it tieg˙u. Il-mudell ta’ m©iba g˙al kul˙add kellu jkun dak tal-istess Ìermanja. Din hi marbuta bil-kostituzzjoni tag˙ha li ma tistax idda˙˙al ba©it b’˙ofra finanzjarja. L-inizjattiva tal-patt fiskali kienet o˙ra mis-sensiela ta’ miΩuri li l-pajjiΩi taΩ-Ωona ewro ˙adu fl-a˙˙ar tliet snin jew kemm, biex jilqg˙u g˙all-kriΩi finanzjarja tal-ewro. Il-kriΩi rriΩultat mid-djun li w˙ud mill-pajjiΩi tal-ewro tellg˙u matul is-snin u li fl-a˙˙ar ma setg˙ux ila˙˙qu aktar mag˙hom. Madankollu, il-problemi kienu u g˙adhom aktar profondi minn hekk.

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A˙na u l-patt fiskali tal-ewro 141

L-GÓERUQ TAL-PROBLEMI

Il-problemi jirriΩultaw ukoll mill-fatt li t-twaqqif taΩ-Ωona ewro se˙˙ fl-istess Ωmien fejn ikkargat il-globalizzazzjoni ekonomika mad-dinja kollha. L-ekonomiji nazzjonali bdew jin©iebu parti minn suq wie˙ed ta˙t regoli ta’ tmexxija ppernjati fuq in-negozju “˙ieles”. Óadu s-sopravvent is-swieq finanzjarji fejn banek u fondi enormi ta’ investiment, assigurazzjoni u tfaddil g˙andhom g˙ad-dispoΩizzjoni tag˙hom biljuni u triljuni ta’ dollari u ewros u jen ÌappuniΩi u liri sterlini, li jinvestuhom f’le˙˙a daqqa hawn u daqqa hemm mad-dinja kollha, skont fejn l-aktar irendi. Il-problemi tal-ewro rriΩultaw mill-fatt li, b˙ala g˙aqda monetarja, din ma g˙andhiex tmexxija ekonomika u finanzjarja wa˙da. Kull pajjiΩ Ωamm is-sovranità tieg˙u g˙ax ˙add fil-verità ma ried içediha. Dan fisser li l-ekonomiji tal-pajjiΩi Ewropej ma setg˙ux jitmexxew skont l-istess boxxla. Qatt qabel g˙aqda monetarja bejn territorji differenti ma tmexxiet hekk. Dejjem kellha çentru wie˙ed li jidderie©i l-affarijiet. Sakemm kien hemm bnazzi ekonomiku madwar iΩ-Ωona ewro, dan id-difett ma tax fil-g˙ajn. Anzi, pajjiΩi “˙alja” sabuha ̇ a©a komda li jistg˙u jonfqu u jissellfu qishom kienu b˙all-pajjiΩi l-kbar u sodi taΩ-Ωona ewro. U pajjiΩi “sodi” sabuha ˙a©a komda li jistg˙u jbig˙u bla xkiel lill-pajjiΩi “˙alja” u jag˙mlu l-profitti mill-bejg˙ tag˙hom. Il-banek taΩ-Ωona ewro sabuha ˙a©a komda li jistg˙u jibqg˙u jirçievu l-fondi mill-bejg˙ u l-qlig˙ tal-pajjiΩi “sodi” biex isellfuhom lura lill-pajjiΩi “˙alja”. B’hekk, dawn tal-a˙˙ar ikunu jistg˙u jibqg˙u jixtru mill-pajjiΩi “sodi”. Malli g˙eb il-bnazzi bil-kriΩi finanzjarja mad-dinja kollha tas-snin �007-�008, il-pro©ett tal-ewro Ωvela ru˙u b˙ala bastiment li mhux imfassal tajjeb g˙all-maltemp.


Imma hu kien u baqa’ pro©ett politiku. Intefaq fuqu kapital politiku enormi mill-aqwa partiti u mexxejja politiçi fl-Ewropa. Bl-ebda mod dawn ma kienu se j˙allu l-pro©ett jikkollassa. U fl-a˙˙ar snin rajniehom jaraw kif se jillapazzaw biex isalvawh. Fuq quddiem nett, dehru l-Ìermanja u Franza, bl-ewwel pajjiΩ dominanti – ˙a©a li tifhimha. Huma ˙ar©u l-aktar fondi u g˙amlu l-aqwa impenji b’risq il-pro©ett. Il-banek tag˙hom kienu fost l-aktar maqbuda fix-xibka tas-self taΩ-Ωona ewro.

IR-“RIMEDJI”

Allura matul ix-xhur rajna jittie˙du firxa ta’ miΩuri ma˙suba biex jilqg˙u g˙all-gwaj li rrombla fuq membri taΩ-Ωona... mill-Greçja, g˙all-Irlanda, il-Portugall, Spanja, l-Italja. Il-biΩa’ dejjem kien li xi wie˙ed minnhom se jikkrolla finanzjarjament u jkollu jiddikjara ru˙u fallut. Mieg˙u setg˙et taqa’ Ω-Ωona kollha tal-ewro, ˙a©a li setg˙et ukoll twassal g˙all-kollass tal-Unjoni Ewropea nnifisha... jew hekk beda jintqal. Fl-istess ˙in, baqa’ m’hemmx qbil li s-soluzzjoni kellha tkun li l-pajjiΩi Ewropej fiΩ-Ωona ewro jin©iebu ta˙t gvern wie˙ed. Minflok, idda˙˙lu miΩuri biex jassiguraw li fit-tmexxija tal-ba©its tal-pajjiΩi involuti, jinΩammu l-istess regoli ewlenin kif kienu ©ew imfissra fil-Patt ta’ Stabbiltà u Tkabbir tas-snin disg˙in li ta bidu g˙aΩ-Ωona ewro. Kellna regola li biha fil-ba©it m’g˙andux ikun hemm defiçit kbir “wisq” (kellu jkun anqas minn tlieta fil-mija tad-daqs tal-ekonomija nazzjonali jew tal-Prodott Gross Domestiku). U regola fejn id-dejn nazzjonali jinΩamm anqas minn çertu livell (60 fil-mija tal-Prodott Gross Domestiku).


Fit-teorija dawn dejjem kienu tpo©©ew fost il-miri tal-pajjiΩi li da˙˙lu l-ewro. Fir-realtà, ftit jekk mhux ˙add ma kien segwiehom. Issa kellhom jittie˙du bis-serjetà. B’konsegwenza tal-isforzi li saru biex il-kriΩi tal-ewro ting˙eleb, kibret enfaΩi fuq tnaqqis fl-ispiΩa tal-gvernijiet b˙ala mod kif jitraΩΩnu d-defiçit u d-djun. Imma meta gvern inaqqas in-nefqa tieg˙u f’ekonomija, qed jikkontribwixxi biex ir-rankatura tag˙ha tmajna. Se jonqsu l-konsum, il-bejg˙, ix-xiri u l-investiment. Sadattant, tnaqqis fis-servizzi soçjali se jkompli jxekkel is-sens ta’ fiduçja u solidarjetà. Rajna tinfirex minn pajjiΩ g˙al pajjiΩ politika ta’ awsterità li kompliet tg˙akkes it-tkabbir ekonomiku. Fil-fatt, l-awsterità Ωiedet mal-piΩ tad-djun u tad-defiçit f’pajjiΩi li raw l-ekonomiji tag˙hom jiçkienu minn sena g˙al sena, minflok ˙adu r-ru˙. Rajna dan ji©ri fil-Greçja, fl-Irlanda, fi Spanja u fil-Portugall fost o˙rajn... fejn il-qg˙ad imbag˙ad sploda. Im©ieg˙la miç-çirkostanzi u kontra r-regoli li kienu twaqqfu fil-bidu g˙at-tmexxija taΩ-Ωona ewro, il-pajjiΩi membri taΩ-Ωona kellhom jag˙tu g˙ajnuniet kbar lill-pajjiΩi fejn qamu l-problemi finanzjarji, fuq quddiem nett il-Greçja. Dan kompla jΩid il-pressjoni mill-pajjiΩi li ˙ar©u l-akbar ammont ta’ fondi f’g˙ajnuna, biex dawk bi problemi jitmexxew skont politika ta’ awsterità. Kellna l-patt imsejja˙ “ewro plus” ma˙sub biex isa˙˙a˙ il-kompetittività tal-ekonomiji differenti billi jwassal biex il-pajjiΩi kollha tal-ewro jie˙du l-istess miΩuri fit-tmexxija ekonomika u soçjali. Kellna s-sitt direttivi mfassla mill-Kummissjoni Ewropea biex ji©i Ωgurat li fit-t˙ejjija tal-ba©its nazzjonali jkunu rispettati l-miri ssettjati miΩ-Ωona ewro.


L-IMPATT FUQ MALTA

Membru taΩ-Ωona ewro, Malta kellha tag˙mel b˙all-o˙rajn u ssegwi d-deçiΩjonijiet li ttie˙du. Óri©na f’g˙ajnuna g˙all-pajjiΩi bi problemi, flus u garanziji li qed ila˙˙qu issa mal-biljun u mitejn elf miljun ewro. Fit-twettiq tas-sitt direttivi dwar it-tmexxija tal-finanzi pubbliçi, rajna lill-gvern inaqqas ˙abta u sabta b’40 miljun ewro min-nefqa tieg˙u g˙al dis-sena, kif kien g˙addieha mill-Parlament. Wa˙idha tqum il-mistoqsija: kif se nkunu affettwati minn dal-patt fiskali ©did li l-gvern Malti ffirma bl-istess g˙a©la tal-membri l-o˙ra taΩ-Ωona ewro wara li l-ÌermaniΩi u l-FrançiΩi stqarrew l-esi©enzi tag˙hom f’Diçembru li g˙adda? Imma effettivament, fiex jikkonsisti dal-patt? F’kaxxa hawn ta˙t, tidher lista tal-punti ewlenin li jinsabu fil-ftehim. Huma kundizzjonijiet li se jimponu bidla qawwija fid-dixxiplina u fid-direzzjonijiet li bihom jitmexxew il-finanzi ta’ pajjiΩna. Li ©ara sa issa imma hu li l-Parlament ma ddiskuta xejn mill-prinçipji u d-dettalji tal-ftehim, g˙alkemm ©ie ffirmat mill-Prim Ministru. Kulma ©ara kien li f’Diçembru (�011), fi Frar u l-©img˙a li g˙addiet, il-Prim Ministru Gonzi g˙amel stqarrija fil-Parlament dwar il-laqg˙at tal-Kunsill Ewropew fejn po©©a t-test tal-ftehim fuq il-Mejda tal-Kamra. Wara l-istqarrijiet, id-deputati setg˙u jag˙mlulu mistoqsijiet, b˙alma ji©ri fil-programmi tal-kwiΩΩ fuq it-televixin. Ìimag˙tejn ilu, il-gvern ressaq abbozz ta’ riΩoluzzjoni biex il-Parlament jirratifika l-ftehim. Kulma se jkunu jistg˙u jag˙mlu d-deputati fid-dibattitu dwar dir-riΩoluzzjoni hu li jressqu rimarki ©enerali g˙ax fil-fatt ̇ add minnhom, tne˙˙i xi ministri tal-gvern (?), ma jkollhom id-dettalji ta’ kif se ni©u affettwati tabil˙aqq mill-ftehim li ©ie ffirmat b’din l-g˙a©la kollha.


Le, kont se ninsa! Hemm punt ie˙or: teΩisti esi©enza fil-ftehim li r-regoli tieg˙u g˙andhom jid˙lu b’xi mod fil-kostituzzjoni tal-pajjiΩi firmatarji. Allajbierek, il-Prim Ministru di©à qal li l-gvern jippreferi kieku dawn ir-regoli jid˙lu fil-kostituzzjoni Maltija fi klawsola li tkun “entrenched”. Ji©ifieri klawsola li ma tistax tinbidel jekk mhux bil-kunsens ta’ Ωew© terzi mid-deputati tal-Parlament. Dan Ωgur mhux mod serju kif isiru l-affarijiet. Parlamenti o˙ra Ewropej mhux hekk qed jimxu – fuq quddiem nett il-parlament tal-pajjiΩ li qed jg˙idulna li g˙andna nikkupjaw l-istil ta’ tmexxija tieg˙u, il-Ìermanja. Tul il-©img˙at li g˙addew, parlamenti o˙ra kienu qed jing˙ataw informazzjoni dettaljata dwar il-ftehim waqt li dan kien qed ji©i nnegozjat – u dwar kif kienu se jintlaqtu l-finanzi pubbliçi u l-ekonomiji tal-pajjiΩi firmatarji. Id-deputati kienu qed jing˙ataw tifsir s˙i˙ mill-esperti tal-gvern u tal-banek çentrali fost o˙rajn, biex l-implikazzjonijiet enormi ta’ dal-ftehim jo˙or©u çari g˙al kul˙add. Hawn Malta le: kollox qed jit˙alla g˙addej u kollox isir b’g˙ajnejn mag˙luqa. Mentri dil-biçça se tkun qed tibdel mill-qieg˙ it-tmexxija tag˙na, speçjalment g˙ax bil-ftehim se nkunu qed naççettaw tnaqqis serju u nd˙il kostanti fis-sovranità ta’ pajjiΩna.

IL-VERDETT TA’ RICCARDI

Fil-Parlament, il-Ministru tal-Finanzi Fenech qal li mhux hekk. Qal li l-parametri ©odda g˙at-tmexxija tal-finanzi tal-pajjiΩ li jinsabu fit-trattat, mhuma ©odda xejn, skont hu. Meta staqsejt biex ning˙ataw kopja tar-rapporti li saru dwar l-impatt ekonomiku u finanzjarju tal-patt fuq Malta, bqajt b’xiber imnie˙er. L-g˙ada li Fenech qal li ftit se jse˙˙u bidliet bil-patt,


kiteb editorjal Ferdinando Riccardi. Dan imexxi l-©urnal Agence Europe li kuljum, tul dawn l-a˙˙ar ˙amsin sena u aktar, jippubblika informazzjoni s˙i˙a dwar x’inhu g˙addej fl-Unjoni Ewropea, u li Ωgur mhux xi ewro-xettiku, bil-maqlub! Kiteb hekk: “Sa fejn nista’ nara, il-kummenti dwar it-trattat ©did fuq id-dixxiplina ba©itarja baqg˙u lura milli jenfasizzaw kemm dan il-ftehim fl-oqsma li jitkellem dwarhom se jkun qed inaqqas u jillimita s-sovranità tal-pajjiΩi li ffirmawh. Ir-regoli imposti huma stretti u dettaljati, u l-Kummissjoni Ewropea se jkollha r-responsabbiltà li tiΩgura li qed ji©u m˙addma... Hu minnu li l-Unjoni Ewropea di©à tillimita s-sovranità nazzjonali f’g˙add konsiderevoli ta’ oqsma... imma t-tmexxija ba©itarja g˙adha fil-biçça l-kbira, materja nazzjonali... Dan issa se jispiçça g˙alkollox. Minn kmieni s-sena d-die˙la, kull pajjiΩ li bi˙siebu jibqa’ fiΩ-Ωona tal-ewro (jew jing˙aqad mag˙ha) se jkollu jçedi l-awtonomija ba©itarja tieg˙u... Is-sovranità nazzjonali qieg˙da bil-mod tg˙addi g˙al-livell Ewropew. (B’dan) l-g˙aqda politika qed issir inevitabbli.” Safrattant, il-Parlament Malti qed ji©i mistenni jiddiskuti u jittratta dawn l-a˙˙ar Ωviluppi fi ̇ dan it-tmexxija taΩ-Ωona ewro b’g˙ajnejn mag˙luqa: bil-proçedura ta’ suq u ©erri, ˙a mmexxu. Veru ̇ a©a tal-mist˙ija li s-sovranità nazzjonali ta’ pajjiΩna kif imniΩΩla fil-kostituzzjoni qed titqies b’dal-mod. Kieku r-regoli msemmija fil-patt fiskali l-©did li l-Prim Ministru ffirma kienu vi©©enti fl-a˙˙ar sitt snin, kieku l-ebda wie˙ed mill-ba©its Maltin li g˙addew tul dan iΩ-Ωmien ma kienu jkunu validi.

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IL-PATT FISKALI

Dawn huma w˙ud mill-kundizzjonijiet li l-Patt Fiskali


se jimponi b’mod tassattiv fuq il-pajjiΩi membri taΩ-Ωona ewro:

***il-ba©it tal-gvern kull sena jrid ikun jew bilançjat jew f’bilanç favorevoli;

***il-Kummissjoni Ewropea jkollha l-poteri biex minn qabel u waqt li qed jit˙ejja u ji©i implimentat ba©it, tissorvelja x’inhu g˙addej u timponi miΩuri ta’ korrezzjoni;

***fil-kaΩ li pajjiΩ ma jil˙aqx il-miri ssettjati mill-Patt, ikun irid i˙ejji programm biex imur lura lejn sitwazzjoni ta’ bilanç, liema programm ikun so©©ett g˙all-approvazzjoni u s-sorvelja tal-Kummissjoni u tal-Kunsill tal-Unjoni Ewropea;

***fil-kaΩ li pajjiΩ, skont rapport mag˙mul mill-Kummissjoni Ewropea, ikun baqa’ lura milli jwettaq l-obbligi tal-Patt, jittella’ quddiem il-Qorti Ewropea tal-Ìustizzja; membri tal-Patt jistg˙u jtellg˙u lil xulxin quddiem il-Qorti Ewropea, anki ming˙ajr ma jkun hemm rapport tal-Kummissjoni, jekk iqisu li xi ˙add minnhom qed jikser l-obbligi tal-Patt;

***kull pajjiΩ b’dejn nazzjonali og˙la minn 60 fil-mija tal-Prodott Gross Domestiku jrid mid-d˙ul tal-ba©it inaqqas dan id-dejn kull sena b’medja ta’ wie˙ed fuq g˙oxrin tad-differenza bejn id-dejn attwali u s-60 fil-mija tal-Prodott Gross Domestiku;

***ir-regoli tal-Patt dwar it-tmexxija ba©itarja g˙andhom isiru effettivi f’kull pajjiΩ b’li©ijiet ta’ karattru permanenti, preferibbilment kostituzzjonali.

(It-Torça, 18 ta’ Marzu 2012)


08

IS-SELF LI QED NAGÓTULILL-GREÇJA FLUS MAÓRUQA?

Bl-abbozz ta’ li©i li g˙andna quddiemna, g˙at-tieni darba, il-gvern qed jipproponi li jinbidlu l-kundizzjonijiet li ta˙thom Malta, ma’ pajjiΩi o˙ra, sellfet lill-Greçja g˙add ta’ miljuni ta’ ewro. Biex tag˙mel dan, Malta wkoll kellha tissellef. Fil-bidu l-ministru tal-finanzi kien qalilna li t-transazzjoni li biha Malta tissellef ˙alli ssellef lill-Greçja, kienet se t˙alli profitt g˙al pajjiΩna. Matul iΩ-Ωmien li g˙adda minn meta l-Parlament approva li jsellef lill-Greçja g˙all-ewwel darba, iç-çirkostanzi nbidlu. Illum, il-prospetti ta’ profitti jidhru li çkienu g˙alkollox. Hemm is-sogru li anki jekk il-flus imsellfa jit˙allsu lura, nistg˙u b˙ala pajjiΩ nispiççaw minn ta˙t. Fl-ewwel bidla g˙al-li©i ori©inali ta’ self li tressqet quddiem il-Parlament is-sena li g˙addiet, kien Ωdied l-ammont tas-self li qed nag˙mlu u kienu t˙affew il-kundizzjonijiet li ta˙thom is-self kien sar ori©inarjament. Fit-tieni emenda li g˙andna quddiemna issa, il-kundizzjonijiet qed jit˙affu aktar. It-terminu tas-self, li g˙andu jla˙˙aq aktar minn 70 miljun ewro, issa Ωdied

148

Is-self li qed nag˙tu lill-Greçja flus ma˙ruqa? 149

g˙al 15-il sena; kien beda ta’ 5 snin u Ωdied di©à s-sena li g˙addiet g˙al 10 snin. IΩ-Ωmien tal-bidu li matulu ma jsirx ˙las lura tal-kapital issa se jsir 10 snin. Kien beda ta’ 3 snin u s-sena li g˙addiet ittawwal g˙al 4 snin u nofs. Barra minn hekk, issa se jkun hemm tnaqqis sostanzjali fir-rata ta’ mg˙ax g˙as-self lill-Greçja, wara li din ir-rata kienet di©à tnaqqset is-sena li g˙addiet.

IL-LIÌI DWAR IR-RATIFIKA TA’ TRATTATI MHIX QED TKUN RISPETTATA

Il-bidliet qed ji©u ppreΩentati b˙ala konsegwenzjali fuq ftehim li sar bejn il-pajjiΩi membri taΩ-Ωona ewro fl-�0 ta’ Frar ta’ dis-sena. Tie˙u l-impressjoni li hi bidla anodina, jekk mhux kosmetika. Il-mod kif tressqet, malajr malajr, bla daqq ta’ trumbetti, kompla jΩid fil-˙sieb li m’hemmx bΩonn ta’ wisq konsiderazzjoni dwarha. Hi xi ˙a©a maqbula u lesta. Kulma dal-Parlament g˙andu... anzi kulma jista’ jag˙mel... hu li jg˙id sinjur si. Ma nemminx li g˙andna nibqg˙u g˙addejja b˙ala deputati tal-poplu f’dal-Parlament, b’dal-mod le©©er li bih qed inqisu l-miΩuri li jittie˙du fi ˙dan iΩ-Ωona ewro. Huma miΩuri ma˙suba biex jilqg˙u g˙all-kriΩi li g˙adha qed titfaçça u ma˙suba wkoll biex isa˙˙u l-istrutturi taΩ-Ωona. Aktar minn hekk, u se nibqa’ nis˙aq fuq dil-˙a©a, il-Parlament mhux qed jirrispetta l-li©ijiet u l-proçeduri tieg˙u stess fil-mod kif qieg˙ed jittratta u jg˙addi l-ftehimiet mag˙mula fi ˙dan iΩ-Ωona ewro u anki fi ˙dan l-Unjoni Ewropea bejn il-pajjiΩi membri. Se nibqa’ nis˙aq fuq dal-punt g˙ax inqisu tal-akbar importanza. Il-li©ijiet qeg˙din hemm biex ji©u rrispettati billi jitwettqu skont l-ispirtu u skont il-kelma tag˙hom.


Dan li g˙andna quddiemna hu abbozz biex jimplimenta ftehim internazzjonali li jemenda ftehim internazzjonali ie˙or, bejn pajjiΩi membri taΩ-Ωona ewro. Kwalunkwe ftehim internazzjonali jrid ji©i ratifikat skont il-proçedura mniΩΩla fil-li©i dwar ir-ratifika tat-trattati tal-1983. G˙al darb’o˙ra, fil-kaΩ li g˙andna quddiemna wkoll, dan mhux qieg˙ed isir. Kwalunkwe trattat jg˙addi mill-faΩi tan-negozjati fejn gvern jinnegozja ma’ gvernijiet o˙ra sakemm jintla˙aq ftehim bejniethom. Jg˙addi mill-faΩi tal-iffirmar. Imbag˙ad jg˙addi mill-faΩi tar-ratifikar, skont il-li©ijiet ta’ kull pajjiΩ involut. Ir-ratifika ©eneralment, b˙al fil-kaΩ tag˙na, tg˙addi minn proçess fejn il-ftehim ji©i diskuss mill-Parlament u approvat skont il-proçeduri stabbiliti. Fil-kaΩ ta’ ftehim li jirrikjedi li jin˙ar©u l-flejjes, dal-ftehim, imbag˙ad permezz ta’ li©i o˙ra separata, suppost jg˙addi mill-faΩi fejn il-Parlament japprova li jin˙ar©u l-flejjes me˙tie©a. U ©eneralment dil-˙a©a ssir fil-ba©it annwali. Skont l-Att dwar l-Unjoni Ewropea, ftehimiet fi ˙dan l-istrutturi tal-Unjoni Ewropea bi proçedura li l-gvern b˙alissa qed jipprova jemenda qed jittellg˙u quddiem il-Parlament biex ji©u inkorporati fil-firxa ta’ li©ijiet nazzjonali li jorbtu flimkien l-impenji Ewropej ta’ Malta, u jsiru parti integrali minnhom. Imma dan bl-ebda mod ma jista’ ji©i kkunsidrat b˙ala forma ta’ ratifika. Hi faΩi o˙ra, Ωejda jew ©dida, li dda˙˙let biex to˙loq tessut wie˙ed g˙all-istrutturi legali u o˙rajn li bihom huma implimentati f’Malta d-deçiΩjonijiet Ewropej. Din hi l-kelma tal-li©ijiet mg˙oddija minn dal-Parlament. Jekk ma tog˙©obniex, jekk naraw li hi struttura goffa wisq, ripetittiva wisq, kulma g˙andna nag˙mlu hu li nirrevedu l-proçedura


u nag˙mluha aktar diretta. Imma b˙alissa li qed ji©ri hu li f’˙afna kaΩi sempliçement qed ninjoraw l-esi©enzi tar-ratifikar tat-trattati minn dal-Parlament. F’çerti kaΩi, dan qed isir billi g˙ax ftehim ji©i diskuss mill-Parlament jew il-kumitati tieg˙u ta˙t l-Att dwar l-Unjoni Ewropea, dil-˙a©a qed titqies b˙ala ekwivalenti g˙al ratifika: li mhux il-kaΩ. F’oqsma o˙ra b˙al dan li g˙andna quddiemna llum, il-fro©a qed tin˙ema b’mod differenti, li jekk ma tridx, ©ie artikolat mis-sedja f’ruling li tat meta kellna quddiemna s-sena li g˙addiet l-ewwel emenda g˙all-ftehim dwar self lill-Greçja. Skont id-dutrina kurjuΩa li ˙ar©et minn dak ir-ruling, jekk ftehim internazzjonali dwar self jitressaq quddiem il-Parlament biex dan japprova li jsir xi ˙las skont il-provedimenti tal-ftehim, mela dan hu ekwivalenti g˙al ratifika tat-trattat. Imkien fil-li©ijiet ta’ Malta ma hemm


xi klawsola jew provediment li ji©©ustifika poΩizzjoni b˙al din. B˙alissa anki b’dan l-abbozz li g˙andna quddiemna, qed insegwu dil-proçedura vvizzjata. Meta qed ng˙id dan, m’iniex nivvinta minn Ωniedi, imma kif di©à stqarrejt f’dil-Kamra, fittixt u ng˙atajt parir legali li mar fis-sens li qed ng˙id, minn Ωew© sorsi legali li ma jista’ jkolli l-ebda dubju dwar il-˙ila tag˙hom. Ftit jag˙mel sens li biex pajjiΩna jaddotta miΩuri g˙all-˙arsien tal-ewro, li ti©i l-munita nazzjonali tag˙na, nibqg˙u nsegwu toroq ivvizzjati ˙alli nimplimentaw l-obbligi internazzjonali li qed nid˙lu g˙alihom f’dal-qasam.

IL-PARLAMENT QED JIÌI FFAÇÇAT B’FATTI KOMPJUTI

Jista’ jkun li dan kollu hu marbut ma’ problema o˙ra fil-mod kif il-Parlament qed jittratta l-qasam li g˙andna quddiemna: anzi f’kif qieg˙ed ikollu jittratta l-materji li qed iqumu fil-qasam tat-tmexxija tal-ewro: anzi f’kif qieg˙ed ikollu jevalwa dak li jinsab g˙addej fil-qasam Ewropew kollu. Hawn ukoll, qed inqajjem punt li ili nqanqal f’dil-Kamra. U g˙alkemm qieg˙ed nitkellem mal-˙ajt, se nibqa’ nqajjem dawn l-affarijiet g˙ax jirriflettu fuq is-serjetà li bihom is-soçjetà tag˙na qed tqis Ωviluppi tal-akbar importanza g˙all-futur tag˙ha. Huma Ωviluppi li f’˙afna kaΩi qed ikollhom impatt dejjem akbar fuq is-sovranità tal-pajjiΩ. Kemm il-li©i ori©inali dwar self lill-Greçja, kemm l-emenda tas-sena li g˙addiet u kemm din l-emenda li g˙andna quddiemna, ©ew ippreΩentati lill-Parlament Malti b˙ala fatt kompjut. Sakemm wasalna g˙ad-diskussjoni tal-


lejla, hawn ma saret l-ebda diskussjoni la qabel ©ie ffirmat il-ftehim u lanqas wara, sal-mument tal-lum. Forsi jkun hawn min jit˙ajjar jg˙id li mhux hekk, g˙ax kien hemm l-istqarrijiet li l-Prim Ministru g˙amel f’dal-Parlament wara li jkun attenda xi Kunsill Ewropew meta kellna wkoll, b˙ala deputati, l-opportunità nag˙mlulu l-mistoqsijiet. Xejn ma jista’ jkun aktar stort u faΩull minn twe©iba b˙al din. Kull min hu mid˙la ta’ kif ja˙dem il-Parlament jaf kif il-preΩentazzjoni li jag˙mel il-Prim Ministru ftit tmur lil hinn mill-fatti superfiçjali li jkunu ©raw u lesti, u jkunu di©à t˙abbru mill-midja. Il-mistoqsijiet li jag˙mlulu d-deputati ftit jistg˙u jid˙lu fl-aspetti konkreti ta’ li jkun g˙addej u kif b’mod konkret dawn jolqtu lil Malta. Effettivament, l-okkaΩjoni kollha sservi biex il-kap tal-gvern, jekk ikun fil-burdata, ikun jista’ jag˙mel ftit grandstanding paternalista fi tmiem is-seduta, hu u jwie©eb… jekk dik hi l-kelma… g˙all-mistoqsijiet li jkunu sarulu, jew u˙ud minnhom. Il-kuntrast ma’ dak li jinsab g˙addej f’Parlamenti nazzjonali o˙ra tal-Unjoni Ewropea ma jistax ikun akbar… kif ma nixbax ng˙id. Fi Ωmien fejn u˙ud mill-aqwa deçiΩjonijiet dwar il-futur tal-pajjiΩi Ewropej qed jittie˙du g˙al kul˙add minn kabali ta’ Prim Ministri u Ministri tal-Finanzi tal-pajjiΩi Ewropej il-kbar, qam u g˙adu g˙addej ferment kbir fil-pajjiΩi Ewropej biex l-iskrutinju tal-parlament nazzjonali jsir aktar serju, qawwi, effettiv, kemm qabel jittie˙du çerti deçiΩjonijiet kruçjali, kemm waqt u kemm wara li jittie˙du. Dan mhux qed ji©ri f’dal-Parlament. Waqt li mill-Ìermanja, sal-Iskandinavja, sal-Greçja u l-Irlanda, qed jissa˙˙u l-poteri ta’ eΩami, skrutinju u deçiΩjoni tal-parlamenti nazzjonali, hawn bqajna nsegwu l-aktar metodi


primittivi li bihom nistg˙u niflu u nifhmu dak li qieg˙ed jit˙assel g˙alina u g˙all-poplu tag˙na, u dak li qieg˙ed ji©i implimentat. Il-verità hi li anki l-emenda li g˙andna quddiemna llum, biex intejbu l-kundizzjonijiet tas-self li tajna sentejn ilu lill-gvern Grieg, ma jistax ikollha ta˙t il-kundizzjonijiet attwali, xi diskussjoni serja f’dal-Parlament.

DISKUSSJONI SUPERFIÇJALI

Jekk irridu na˙dmu bis-serjetà b˙ala Parlament g˙all-pajjiΩ, g˙andu jkun hemm seduti fejn qabel u waqt li l-gvern ikun qed jittratta mal-pajjiΩi l-o˙ra taΩ-Ωona ewro u tal-Unjoni Ewropea dwar materji ekonomiçi, finanzjarji u ba©itarji tal-akbar importanza, hu jersaq quddiem il-Parlament biex jag˙ti lilu jew lil xi kumitat tieg˙u tag˙rif s˙i˙. Dan ma jsirx mill-Ministru konçernat biss, imma wkoll mill-uffiçjali g˙olja tieg˙u jew ta’ istituzzjonijiet konçernati b˙all-Bank Çentrali, li jkunu lesti jirrispondu g˙all-aspetti kollha tekniçi u konkreti li jistg˙u jitqajmu. Proçess b˙al dan irid ikun dejjem g˙addej, ongoing, u mhux ta’ suq u ©erri. Irid isir sa minn qabel abbozz ta’ li©i ji©i quddiem il-plenarja tal-Parlament. PajjiΩi o˙ra tant qed jie˙du dil-˙a©a bis-serjetà li l-parlament DaniΩ, il-Folketing, qed jinsisti li kwalunkwe ˙a©a li tkun se ti©i diskussa u negozjata fil-Kunsill Ewropew, trid qabel ti©i miflija mill-Folketing biex il-gvern jing˙ata mandat g˙al kif g˙andu jimxi fin-negozjati. Il-Finlandja tinsab g˙addejja fuq l-istess binarju. Fil-Ìermanja, il-Qorti Suprema imponiet regola li biha qabel jittie˙du deçiΩjonijiet ewlenin fi ˙dan iΩ-Ωona ewro, il-gvern irid ikun iddiskuta u ˙a vot fil-Parlament favur il-poΩizzjoni li jkun se jaddotta.


Minflok, hawn fostna, qed ikollna sitwazzjoni wara l-o˙ra fejn il-Parlament qed jing˙ata informazzjoni qadima dwar materji lesti u konkluΩi, u jkun mistenni li jibqa’ j˙affef u j©erri biex japprova li jkun sar. PereΩempju din id-darba, b˙ala informazzjoni ta’ sfond… fuq dak li hemm fl-abbozz ta’ li©i li g˙andna quddiemna… tqassmet g˙al min kien interessat, karta indirizzata lill-OppoΩizzjoni, b’tag˙rif tekniku. G˙andha t-titlu Explanatory Memorandum to the Opposition. Biex ng˙id kollox: b˙ala karta teknika hi a˙jar, superjuri, g˙al dik li ng˙atajna s-sena li g˙addiet dwar l-ewwel emenda g˙all-ftehim dwar self Grieg. U did-darba tal-anqas mhux qieg˙ed isir l-iΩball inkredibbli tas-sena li g˙addiet u qabel, fejn ftehimiet li kienu qed jiddefinixxu l-li©i li dal-Parlament kien qed jg˙addi, lanqas biss tpo©©ew mat-test tal-li©i. Meta qajjimt dal-punt, is-sena li g˙addiet, in-na˙a tal-gvern mill-Prim Ministru ’l isfel ˙ar©et tg˙id li kont mo˙˙i biex infixkel. Tal-anqas illum, ittie˙det ukoll il-prekawzjoni li mal-abbozz ta’ li©i quddiemna, qed jitka˙˙al ukoll it-trattat li g˙alih qed jirreferi, u dan hu kif g˙andu jkun. Min-na˙a l-o˙ra, insib stramba g˙all-a˙˙ar id-diçitura tan-nota li ng˙atajna: Memorandum g˙all-OppoΩizzjoni – hekk tg˙id. Imma skuΩi, g˙aliex mhux nota g˙all-Parlament kollu? Donnu li mhux il-Parlament kollu hu involut u interessat fil-mod kif pajjiΩna qed isellef lil pajjiΩi o˙ra u jissellef, skont il-bΩonn. Sakemm mhux qed ji©ri li l-gvern g˙andu prokura ©enerali mid-deputati tieg˙u biex jiddeçiedi f’isimhom dak li jrid, kif irid, u huma dejjem se jg˙idu iva. G˙alija, id-diçitura nnifisha tan-nota li tqassmet dwar dan l-abbozz ta’ li©i hi turija ta’ attitudni min-na˙a tal-


gvern li xejn mhi bixra ta’ galbu. Donnu li l-gvern mo˙˙u l-aktar kif se jirrombla l-faΩi parlamentari, mhux l-anqas ukoll billi jara kif jag˙laq ˙alq l-OppoΩizzjoni. Mentri quddiem l-isfidi li g˙adhom jinqalg˙u fit-tmexxija taΩ-Ωona ewro fejn il-gvern da˙˙alna biex jag˙ti stabbiltà aqwa milli qatt kellha lill-munita nazzjonali tag˙na… anki jekk ©ara bil-maqlub… il-mira g˙andha tkun: l-ewwel li l-pajjiΩ ikun informat fl-akbar dettall dwar dak li jkun g˙addej; u t-tieni, li jintla˙aq u jinΩamm kunsens nazzjonali dwar il-qag˙da li Malta g˙andha tiddefendi f’konfront le©ittimu ma’ interessi nazzjonali o˙ra. G˙ax g˙andha tkun ˙a©a çara li l-miΩura li g˙andna quddiemna trid tinftiehem u ti©i analizzata b˙ala parti mill-iΩviluppi li baqg˙u jse˙˙u tul il-©img˙at u x-xhur fiΩ-Ωona ewro u fis-swieq finanzjarji globali. Id-diskussjoni li nistg˙u nag˙mlu hawn illum bilfors li se tibqa’ xotta u superfiçjali g˙ax dal-Parlament ma ng˙ata l-ebda forum fejn jista’ jsegwi dak li jinsab g˙addej u jiflih minn qabel, fuq baΩi integrata, konkreta u teknika. Bqajna ntellg˙u diskussjonijiet plenarji jew anki f’kumitat skont il-konvenjenza tal-gvern meta jkun irid isegwi xi direttiva li ti©ih minn Brussell jew meta jkun di©à qabel ma’ deçiΩjonijiet me˙uda barra. Issa m’hemmx dubju li biex naslu g˙al ©udizzju serju dwar dak li qed ji©i propost lilna, messna qed nag˙mlu din id-diskussjoni wara li fi ˙dan dal-Parlament tkun baqg˙et issir analiΩi kontinwa ta’ kif qed tevolvi l-kriΩi tal-ewro, kif qed taffettwa u tista’ taffettwa lil Malta u lill-Ewropa, u x’inhi t-triq li taqbel l-aktar g˙all-interess nazzjonali. AnaliΩi kontinwa b˙al din tkun trid twassal g˙al kunsens serju bejn il-partiti rappreΩentati f’dal-Parlament g˙ax il-materji mqajma tant huma fondamentali, li ftit hemm lok g˙al dissens.


Madankollu, il-kunsens mixtieq m’g˙andux jo˙ro© billi l-Parlament ikun mistenni li j˙alli kollox g˙addej... sempliçement in˙allu l-affarijiet isiru u mbag˙ad ng˙addu mir-ritwal, kif qed nag˙mlu issa, li g˙ax m’hemmx ie˙or xi jsir u l-ftehim lest iffirmat, nibqg˙u ng˙idu iva. Mhux biss qed inkomplu nçekknu s-siwi tal-Parlament imma qed in˙ejju ming˙ajr ma nafu jew jimpurtana, g˙al kriΩijiet istituzzjonali radikali meta Ωviluppi li qed jit˙ejjew fl-Ewropa lejn g˙aqda politika dejjem aktar soda, jibdew jigdmu fil-la˙am il-˙aj. Ma nistg˙ux nibqg˙u sejrin hekk. Kieku qed na˙dmu tajjeb, dal-Parlament illum g˙andu quddiemu, barra mill-preΩentazzjoni tal-ministru tal-finanzi, analiΩi m˙ejjija mis-servizzi tieg˙u ta’ kif dan li qed ji©i propost lilna jinkwadra mal-a˙˙ar Ωviluppi fil-kriΩi tal-ewro. Minflok, jekk wie˙ed jifli t-tifsira vera ta’ x’qed jintqal lilna, baΩikament hi din: ma hemmx alternattiva g˙al dak li qed ji©i propost. Irridu ng˙idu iva. Is-s˙ubija tag˙na fiΩ-Ωona ewro hi dik li hi. Il-qag˙da tal-Greçja hi dik li hi. Il-˙tie©a li l-Greçja tibqa’ fl-ewro u li l-Greçja tkun tista’ tla˙˙aq mal-impenji finanzjarji li g˙adha ΩΩomm, hi dik li hi u trid tkun sodisfatta.

IL-QAGÓDA FIL-GREÇJA

M’g˙andniex f’dal-Parlament strutturi ta’ tmexxija u skrutinju serji. Kieku kellna, konna nkunu nistg˙u b’mod serju u mhux g˙ad-dehra biss, f’isem il-poplu Malti, niddeterminaw a˙jar kif l-interess nazzjonali ta’ pajjiΩna qed ji©i affettwat b’dak li qed jg˙idulna li se jkollna niddeçiedu, g˙ax m’hemmx alternattiva o˙ra. Konna nkunu nistg˙u npo©©u dak li qed niddeçiedu fil-qafas tal-iΩviluppi aktar wiesg˙a li se˙˙ew fiΩ-Ωona tal-ewro fl-


a˙˙ar xhur, u mhux l-anqas fil-qafas tal-iΩviluppi fil-Greçja nnifisha. Konna nkunu nistg˙u norbtu flimkien id-deçiΩjoni li n˙affu l-kundizzjonijiet tas-self tag˙na lill-Greçja, ma’ konkluΩjonijiet dwar fejn qed nispiççaw fil-kriΩi tal-ewro u bil-bidliet istituzzjonali li g˙addejja fil-governanza politika u ekonomika taΩ-Ωona. Minflok, qed ikollna naççettaw li dal-Parlament ma jag˙ti l-ebda ©udizzju dwar li jinsab g˙addej u lejn fejn sejrin, imma impliçitament, tajjeb jew ˙aΩin, in˙allu lill-gvern ji©©udika u jfattar hu, ming˙ajr ma tinΩamm l-ebda accountability serja dwar x’qed isir. Anzi, biex inkun aktar skjett minn hekk, ˙afna minna jemmnu, anki jekk ma jg˙idux hekk, li l-gvern ma hu qed ikollu l-ebda ©udizzju tieg˙u, l-ebda strate©ija tieg˙u g˙ad-difiΩa tal-interess nazzjonali fi ˙dan iΩ-Ωona ewro, ˙lief dak li jag˙mel kif jg˙idulu… g˙ax m’g˙andux alternattiva… Hu minnu li b˙alissa l-kriΩi tal-ewro tinsab g˙addejja minn Ωmien ta’ kalma relattiva. Fl-a˙˙ar donnhom intla˙qu l-g˙anijiet tas-summit tal-Kunsill Ewropew ta’ Ottubru li g˙adda, wara ©img˙at ta’ ta˙wid politiku u mani©©i finanzjarji. G˙al xi Ωmien jidher li l-poΩizzjoni finanzjarja tal-Greçja issa ©iet stabbilizzata. Ji©ifieri, id-dejn nazzjonali enormi tal-Greçja re©a’ ©ie riçiklat, billi saret tqasqisa kbira tas-self li kienu g˙amlu istituzzjonijiet privati lil dal-pajjiΩ. Dan l-istabbilizzar se˙˙ ukoll billi re©a’ n˙are© self kbir ©did miΩ-Ωona ewro u mill-Fond Monetarju Internazzjonali bi tnaqqis fil-kundizzjoniiet ta’ self, anki fuq l-ewwel self li kien in˙are©. Il-bidliet li qed jg˙addu minn dal-Parlament fil-kundizzjonijiet tas-self Malti lill-Greçja hu parti çkejkna ˙afna mill-a©©ustament li sar fl-appo©© finanzjarju li sorsi pubbliçi taw lill-Greçja fl-a˙˙ar snin. U l-istabbilizzar se˙˙ ukoll bil-mod kif il-forzi politiçi Griegi ©ew im©ag˙la


jaççettaw kundizzjonijiet ta’ awsterità ekonomika u soçjali li huma inkredibbilment ˙arxa. Biss, dan kollu ma jistax ja˙bi l-fatt li l-Greçja mhix qed til˙aq il-miri ekonomiçi u finanzjarji li ©ew impo©©ija g˙aliha kemm fl-ewwel fazi, meta ng˙atat l-ewwel self, u kemm fit-tieni faΩi minn meta, fis-sajf tas-sena li g˙addiet, kienet qed tit˙ejja t-triq biex il-Greçja ting˙ata t-tieni self. Qalulna li dan ©ara g˙ax il-Greçja ma kinitx qed twettaq il-programm ta’ awsterità u privatizzazzjoni li kienet qablet mag˙hom. Jew waqg˙et lura sew fit-twettiq jew addirittura lanqas kienet bdiet idda˙˙al miΩuri me˙tie©a. Qalulna wkoll kif setturi s˙a˙ mis-soçjetà Griega kienu baqg˙u barra mill-miΩuri ©odda ta’ awsterità u tassazzjoni li kellhom jidda˙˙lu, fosthom dawk l-oqsma tas-soçjetà Griega li huma l-aktar privile©©jati. Sadattant imma, il-kundizzjonijiet tax-xog˙ol tal-˙addiema bil-paga u l-kundizzjonijiet ta’ ˙ajja tal-pensjonanti kienu qalg˙u daqqa kbira. Illum suppost li bit-tmexxija ta’ Prim Ministru hekk imsejja˙ teknokratiku li g˙andu l-appo©© fil-Parlament Grieg ta’ kwaΩi l-forzi politiçi kollha, il-miΩuri ta’ awsterità se jitwettqu kollha. Issa naraw. Dan kollu sar u qed isir b’ind˙il politiku enormi fl-affarijiet interni tal-Greçja mill-pajjiΩi l-o˙ra membri taΩ-Ωona ewro, fuq quddiem nett, il-Ìermanja u Franza. It-theddida kienet din fl-a˙˙ar ©img˙at: jekk ma jsirx kif ng˙idulhom, il-Greçja tfalli u jkollha t˙alli l-ewro. Biss, il-mod kif tqasqas id-dejn li l-Greçja kellha mas-settur privat mhu xejn differenti fir-realtà milli x’kien ji©ri, tal-anqas parzjalment, kieku l-Greçja falliet. Sadattant, ˙afna mill-analiΩi ekonomika u finanzjarja li qrajt jien g˙all-anqas, anki ©ejja mill-Ìermanja, hi fis-sens li anki b’dan kollu li sar, il-Greçja xorta mhux se jkollha s-


sa˙˙a li tla˙˙aq mal-obbligi li da˙let g˙alihom u li mhix se til˙aq il-miri ekonomiçi ssettjati g˙aliha.

L-ISTABBILIZZAR TAL-EWRO

Fil-verità, l-istabbilizzar relattiv li rajna fiΩ-Ωona ewro fl-a˙˙ar ©img˙at kien ©ej mill-azzjonijiet li ˙a l-Bank Çentrali Ewropew ta˙t it-tmexxija tal-President il-©did tieg˙u, Mario Draghi. Fi tmiem Diçembru �011 u mill-©did fi tmiem ix-xahar li g˙adda, il-Bank Çentrali Ewropew ̇ are© self ta’ 500 biljun ewro b’rati ta’ mg˙ax ta’ 1 fil-mija lill-banek Ewropej li resqu g˙all-façilitajiet offruti lilhom. Dan ta nifs ©did lill-banek, u ppermettielhom jilqg˙u ming˙ajr ma jog˙tru, kemm g˙at-tqasqis fl-obbligi tal-Greçja u kemm g˙at-talbiet ta’ façilitajiet li kienu qed jag˙mlulhom l-impriΩi. Fl-istess ˙in, madankollu, fi ˙dan il-Bank Çentrali

Mario Draghi, President tal-Bank Çentrali Ewropew.


Ewropew hemm tensjoni kbira dwar il-front finanzjarju li nfeta˙ ta˙t it-tmexxija ta’ Draghi. Sezzjoni s˙i˙a ta’ poter u influwenza fi ˙dan il-bank u l-istati membri tieg˙u xejn mhi konvinta li l-miΩuri me˙uda huma konformi mal-a˙jar interessi tal-ekonomija Ewropea f’perspettiva medja. Dwar dan kollu g˙ad irridu naraw x’se ji©ri. Imma anki hawn, tajjeb li wie˙ed jis˙aq kif il-Parlament Malti mhu qed jing˙ata l-ebda informazzjoni dwar l-iΩviluppi li qed ise˙˙u… bil-maqlub ta’ Parlamenti o˙ra, li ©img˙a wara l-o˙ra, baqg˙u jsusu biex jinΩammu informati dwar xi jkun g˙addej. U bir-ra©un. Fin-nofs, g˙alkemm ˙afna çittadini u familji Malti g˙adhom ma nteb˙ux, hemm il-mod kif fil-futur jistg˙u jiΩviluppaw l-opportunitajiet ta’ xog˙ol u ˙ajja g˙at-tfal tag˙na u t-tfal tag˙hom… u dwar kif il-futur tal-pensjonijiet jista’ ji©i assigurat jew imminat. ...Ni©i lura g˙all-qag˙da fil-Greçja. Lil hinn minn jekk il-Griegi humiex iwettqu l-obbligi li da˙lu g˙alihom, hemm mistoqsija o˙ra. Il-politika ta’ awsterità li qed ti©i imposta fuq il-Greçja qisha kienet sidrija ta’ forza, kif qed ti©i imposta fuq pajjiΩi o˙ra, kemm qed tag˙ti riΩultati? – u kemm tista’ tag˙ti riΩultati tajba? Saffi s˙a˙ tal-poplu Grieg, mhux l-anqas dawk il-familji li huma l-aktar vulnerabbli, qed jintlaqtu tassew ˙aΩin mill-miΩuri ta’ awsterità. Ter©a’, il-kundizzjonijiet soçjali li jiddeterminaw il-˙ajja tal-˙addiema u l-impjegati, kif ukoll tal-pensjonanti, qed jitkissru bil-kbir. BiΩΩejjed wie˙ed jaqra r-rapporti li ˙ar©et l-ILO, l-Organizzazzjoni Internazzjonali tax-Xog˙ol, biex jifhem dil-˙a©a. F’Settembru tas-sena li g˙addiet, l-ILO ˙ar©et rapport dwar il-qag˙da soçjali wara li bag˙tet delegazzjoni g˙olja fil-Greçja. Ix-xahar li g˙adda ppubblikat studju Social Dialogue and Collective Bargaining in Greece li jag˙ti stampa


ta’ kif marret lura l-qag˙da fuq il-postijiet tax-xog˙ol. Il-pagi tal-˙addiema ©ew imqaççta, ix-xog˙ol prekarju naqas u Ωdied fl-istess ˙in, oqsma s˙a˙ tal-ekonomija produttiva qed jiçkienu. L-ekonomija kollha kemm hi baqg˙et tiçkien g˙al sena wara l-o˙ra. Min˙abba l-fatt li l-Greçja tinsab marbuta fiΩ-Ωona ewro, l-uniku mod kif il-kompetittività ekonomika tag˙ha tista’ titjieb donnu sar dak li bih jitnaqqsu l-pagi. Imma dan mhu qed iwassal imkien… tal-anqas sa issa. Skont eksministru tal-affarijiet soçjali fil-gvern ta’ Papandreou, din hi l-unika strate©ija li qed ti©i segwita biex titjieb il-kompetittività tal-Greçja… u ma tistax tirnexxi. Xejn ma juri mill-esperjenza ta’ ekonomiji o˙ra li billi tnaqqas il-pagi u l-kundizzjonijiet soçjali se ttejjeb il-kompetittività. Jekk dan l-argument hu minnu, l-ewwel ˙a©a li ti©i f’mo˙˙na b˙ala Maltin hi li s-self li qed nag˙tu lill-Greçja se jkun flus ma˙ruqa. Illum bil-li©i li g˙andna quddiemna, sempliçement qed intawlu l-iskadenzi ta’ meta se nit˙allsu lura u qed innaqqsu l-piΩ tal-img˙axijiet li se nit˙allsu g˙as-self tag˙na. Imma jidher li l-qag˙da hi ˙afna aktar imwieg˙ra milli ntqal pubblikament. Jekk hu hekk, ir-realtà tista’ tkun li se nibqg˙u b’xiber imnie˙er meta ni©u biex nirçievu flusna lura, l-istess kif ©ralhom l-investituri privati u l-banek li sellfu lill-Greçja fl-a˙˙ar g˙oxrin sena u li kellhom jaççettaw tnaqqis sostanzjali fil-fondi li sellfu. Lil hinn minn dal-punt madankollu, qed tikkonferma ru˙ha qag˙da li biha Ω-Ωona tal-ewro donnha tinsab imwa˙˙la fl-awsterità b˙ala l-unika politika li biha tista’ tilqa’ g˙all-kriΩi u ΩΩomm is-sa˙˙a u l-koerenza tag˙ha. Safrattant, l-istess politika mhix qed tag˙ti r-riΩultati mixtieqa. Anzi qed tkattar ir-riçessjoni. F’ekonomiji o˙ra kbar… dik tal-Istati Uniti, fuq


quddiem nett… bdiet tqum it-tama ta’ tkabbir ekonomiku ©did, imma fi ˙dan iΩ-Ωona ewro kollox donnu qed jibqa’ çass. Minflok, nibqg˙u nisimg˙u t˙e©©i© g˙al aktar u aktar awsterità. Mentri l-indikazzjonijiet minn Spanja u l-Portugall, pereΩempju, huma li bil-politika tal-awsterità b’kollox, l-ekonomija qed tibqa’ tiçkien, ˙a©a li qed iΩΩid il-piΩ relattiv tad-djun nazzjonali b˙ala persenta©© tal-ekonomija. Kieku ma kienx g˙all-interventi tal-Bank Çentrali Ewropew li semmejt ftit ilu – u li fl-a˙˙ar mill-a˙˙ar qeg˙din jikkontradixxu l-lo©ika li biha suppost ja˙dem is-suq kontinentali Ewropew fi ˙dan iΩ-Ωona ewro – kieku llum il-kriΩi minflok tinsab f’qag˙da stabbli, kienet qed tfur.

MILJUNI MAÓRUQA

Imma l-punt li jrid isir hu li, jekk l-awsterità se tibqa’ g˙addejja ming˙ajr ma ti©i ©enerata ˙idma ekonomika ©dida, mhux se jkun hemm ˙olqien ta’ ©id biΩΩejjed fiΩ-Ωona ewro biex id-djun qodma u ©odda li qed isiru, jit˙allsu lura. F’dak il-kaΩ, ner©a’ ng˙id, illum se nkunu qed napprovaw self li g˙ad jispiçça vroma. Dak li nag˙mlu, irridu nkunu qed nag˙mluh b’g˙ajnejna miftu˙a. Meta wie˙ed jg˙id hekk, mhux bilfors ikun qed jargumenta kontra li s-self, issa li ng˙ata, m’g˙andux ikun konfermat bil-kundizzjonijiet e˙fef li qed ikunu proposti mill-gvern. Tajjeb li dil-˙a©a tintqal ukoll minn issa. G˙ax dik hi l-ironija li ©abet mag˙ha g˙alina, is-s˙ubija fiΩ-Ωona tal-ewro, li skont il-gvern Nazzjonalista kellha tiggarantilna stabbiltà monetarja li qatt qabel ma rajna b˙alha. Biex insostnu din l-istabbiltà qed ikollna naqblu mat-ti©did


b’kundizzjonijiet e˙fef, ta’ self f’g˙exieren ta’ miljuni, anki jekk dawn il-miljuni x’aktarx li se jispiççaw du˙˙an. Fil-fatt, mhix qieg˙da ting˙ata biΩΩejjed attenzjoni g˙all-˙tie©a li mal-awsterità, jissawru u jit˙addmu miΩuri o˙ra li jo˙olqu attività ekonomika ©dida. Ma jidhirx li hemm ideat biΩΩejjed biex dan isir, u lanqas hemm impetu politiku li jmur lil hinn mill-kliem sabi˙. Il-Prim Ministru Taljan Monti appella dan l-a˙˙ar biex, mal-awsterità, l-impenn favur it-tkattir ekonomiku ji©i mistqarr u mwettaq. Kien hemm min irrepeta dak li qal. Kellna Kunsill Ewropew li ˙are© stqarrija favur dan il-g˙an. Imma jien l-ewwel wie˙ed, m’iniex qed nara li hemm xi çaqliqa serja u effettiva biex it-tkabbir ekonomiku bil-˙olqien ta’ impjiegi u pro©etti produttivi jitpo©©a fuq quddiem nett tal-a©enda. Biex tag˙qad, hemm xi ̇ a©a o˙ra wkoll li mhix tissemma biΩΩejjed u dan fuq binarju differenti imma li jmur fl-istess direzzjoni b˙al dik li g˙andu jkun hemm politika ©dida li tiffavorixxi t-tkabbir ekonomiku… Dan hu l-binarju fejn fi ˙dan iΩ-Ωona ewro, tid˙ol konver©enza bejn l-ekonomiji tal-pajjiΩi membri. Mhux biss dawn g˙andhom isostnu politika ba©itarja li b’kejl li jkun l-istess g˙al kul˙add, t˙ares kontra d-defiçit, il-˙ofra, kif qed tikkmandalna nag˙mlu d-domma preΩenti. Mhux biss hemm bΩonn li barra minn politika ta’ awsterità, titmexxa wkoll politika ta’ tkattir ekonomiku… ˙a©a li saret ting˙ad il-˙in kollu fl-Ewropa ming˙ajr ma titwettaq verament…

AWSTERITÀ BLA KONVERÌENZA EKONOMIKA

Aktar minn hekk, hemm bΩonn ta’ politika li tiΩgura li sse˙˙ konver©enza ekonomika bejn il-membri differenti taΩ-Ωona


monetarja tal-ewro. Dwar dil-˙a©a m’a˙na qed nisimg˙u prattikament xejn. Il-˙tie©a ta’ dil-konver©enza – ji©ifieri ta’ mod kif l-ekonomiji differenti se jaslu biex jil˙qu ftit jew wisq, l-istess livell ta’ effiçjenza u prosperità – hi essenzjali daqs il-mira li ˙add fiΩ-Ωona ewro ma jispiçça b’˙ofra finanzjarja li ma jkunx jista’ jla˙˙aq mag˙ha. Nuqqas b˙al dan se jkompli jΩid fil-probabbiltà li, jekk nibqg˙u sejrin hekk, il-fondi li a˙na u ̇ addie˙or g˙addejna u qed ng˙addu f’self lill-Greçja, qatt mhuma se ji©u lura. Lanqas dwar dan imbag˙ad, ma nkunu nistg˙u nwa˙˙lu fil-Greçja. It-tort ikun ©ej mill-fatt li ninsabu lkoll kemm a˙na mag˙luqa f’sistema ekonomika u finanzjarja li g˙ax tfasslet b˙ala pro©ett politiku, spiççat bi prinçipji ta’ tmexxija li huma kontradittorji. G˙alhekk, kull membru taΩ-Ωona ewro g˙andu d-dmir jibqa’ jifli l-prinçipji ta’ tmexxija taΩ-Ωona ewro biex jara kif jista’ jag˙milhom aktar idonei g˙al pajjiΩu fl-ewwel lant, u g˙all-bqija taΩ-Ωona bi prijorità mhux daqstant anqas. M’iniex konvint li dan qed isir. Ûgur li dan mhux qed ji©ri f’pajjiΩna. Minflok qed ikun hemm çaqliqa s˙i˙a lejn g˙aqda politika bil-g˙an li t-tmexxija finanzjarja ti©i çentralizzata. Wie˙ed jifhem g˙aliex dan qed ji©ri. Imma kemm strate©ija b˙al din se tkun ta’ ©id mhux biss g˙all-ekonomiji l-qawwija imma wkoll g˙al dawk ta’ daqs mezzan… u l-aktar ta’ dawk Ωg˙ar u periferi fl-ispazju Ewropew… baqg˙et kwistjoni mistura. Bil-mod kif iΩ-Ωona ewro qed tilqa’ g˙all-kriΩi li laqtitha, mhux qed ikun hemm bilanç effettiv… bejn il-˙tie©a ta’ prudenza fit-tmexxija tal-finanzi pubbliçi u l-˙tie©a li ma nifgawx bl-awsterità, it-tkabbir ta’ ˙idma ekonomika ©dida u l-˙olqien ta’ impjiegi g˙aΩ-Ωg˙aΩag˙… bejn il-koordinament çentralizzat tal-finanzi fl-istati membri, jew


l-g˙aqda politika, u l-˙tie©a ta’ strate©ija li tassew t˙e©©e© il-konver©enza ekonomika fost il-membri kollha taΩ-Ωona ewro. Jekk nibqg˙u sejrin hekk, se nispiççaw… kif forsi di©à spiççajna, fi sqaq… fejn l-isforzi biex tinΩamm dixxiplina finanzjarja me˙tie©a… u sforzi o˙ra anqas le©ittimi biex minn ta˙t, tidda˙˙al g˙aqda politika Ewropea li ma jkollhiex kunsens demokratiku… jistg˙u jwasslu fl-a˙˙ar g˙al spluΩjoni perikoluΩa ta’ rabja fost popli li jirrealizzaw kif qed ji©u mitqiesa b˙ala l-mili tat-torta. Forsi dan hu sogru li l-mexxejja Ewropej huma lesti jie˙du… imma niddubita. Ninsabu quddiem il-konsegwenzi ekonomiçi ta’ deçiΩjonijiet politiçi li ttie˙du biex, akkost ta’ kollox, titwettaq g˙aqda monetarja fl-Ewropa, meta l-kundizzjonijiet politiçi u ekonomiçi biex dan seta’ jsir kienu g˙adhom mhux f’posthom. Illum, a˙na wkoll b˙ala Maltin u G˙awdxin, qed na˙sdu l-frott ta’ dik l-inizjattiva. Kif dal-frott g˙ad jissarraf f’©id lil pajjiΩna, g˙ad irridu narawh… mhux bilfors fi Ωmien qasir. U tqum ironija o˙ra li ta’ min isemmi: dal-Parlament qed jintalab ikompli jrattab il-kundizzjonijiet li bihom, ma’ pajjiΩi o˙ra, sellef lill-Greçja biex din tkun tista’ to˙ro© mill-˙ofra finanzjarja li waqg˙et fiha. G˙al das-self, il-Greçja qed ti©i m©ieg˙la twettaq politika ta’ awsterità li sa issa kkawΩat tbatija soçjali kbira l-aktar fost saffi tal-poplu Grieg li jaqilg˙u d˙ul baxx jew medju.

IL-KUMMISSJONI EWROPEA TIBDEL DEÇIÛJONIJIET TAL-PARLAMENT

Fl-istess ˙in, u fl-istess proçess ta’ addattament g˙all-kriΩi tal-ewro, il-gvern Malti qabad u qaççat 40 miljun ewro mill-


ba©it ta’ dis-sena li kien g˙adda minn dal-Parlament, xahar u nofs wara li g˙addieh, g˙ax ©ie kkmandat jag˙mel hekk mill-Kummissjoni Ewropea. Sadattant, proçess me˙tie© ta’ ristrutturar fl-Air Malta, il-linja nazzjonali tal-ajru Maltija, baqa’ jistenna fil-kju sakemm l-istess Kummissjoni Ewropea tag˙ti l-approvazzjoni tag˙ha g˙al dak li hemm xi jsir. Hemm rabta bejn dawn l-iΩviluppi kollha… forsi anqas fl-a˙˙ar kaΩ tal-Air Malta, milli hemm fl-o˙rajn. Imma dawn huma kollha Ωviluppi li qed jitwettqu min˙abba obbligi li a˙na u pajjiΩi o˙ra d˙alna g˙alihom ming˙ajr ˙afna drabi ma fhimna tajjeb g˙al xiex konna de˙lin. Aktar ma jg˙addi Ω-Ωmien, aktar dawn l-obbligi qed i©ibu mag˙hom esi©enzi profondi fuq it-tmexxija tal-pajjiΩ. Qed irendu lil dal-Parlament kunsill lokali. Dwar l-Air Malta pereΩempju: il-gvern g˙addej b’diskussjonijiet u negozjati dettaljati mal-Kummissjoni Ewropea, dwar x’jista’ jag˙mel u ma jag˙milx, waqt li f’dal-

Il-proçess ta’ ristruttar tal-AIRMALTA kellu jistenna l-approvazzjoni tal-Kummissjoni Ewropea.


Parlament mhux biss ma saru l-ebda ta˙ditiet imma l-©urnalisti jafu aktar mid-deputati dwar x’inhu g˙addej. Minflok jid˙ol fil-kwistjonijiet li jinqalg˙u waqt li qed ji©u ttrattati, il-Parlament sar post fejn tinΩamm diskussjoni superfiçjali u le©©era wara li l-materji jkunu di©à ©ew deçiΩi, sempliçement biex id-deputati jg˙idu iva. Illum a˙na mistennija ng˙idu iva g˙al proposta biex intejbu l-kundizzjonijiet ta’ mg˙ax u ˙las lura fuq self lill-Greçja, self li hemm çansijiet kbar li qatt mhu se jinfeda… jew se jinfeda forsi meta a˙na nkunu lkoll di©à qed nistrie˙u fl-Addolorata, u probabbli fi Ωmien meta anki l-Addolorata tkun spiççat qed titmexxa skont regoli ffissati fi Frankfurt u sorveljati minn Brussell. Mela, ejja ng˙idu iva.

(Minn intervent fil-Parlament Malti dwar abbozz ta’ li©i nru 104 “dwar self tal-gvern u l-g˙oti ta’ self lir-Repubblika Ellenika” [Kap. 502] – 20 ta’ Marzu 2012)

L-investimenti diretti pubbliçi se jisfaw limitati bil-kbir 169

09

L-INVESTIMENTI DIRETTI PUBBLIÇI SE JISFAW LIMITATI

BIL-KBIR

Il-miΩuri tal-ba©it li g˙andna quddiemna g˙addew minn Ωvilupp tassew stramb. Tressqu quddiem dal-Parlament wara l-proçess ta’ hekk imsej˙a konsultazzjoni li jsir kull sena, u li aktar jixbah reçta milli konsultazzjoni. Dan permezz ta’ pre-budget document, ta’ dokument ippubblikat xhur qabel jit˙abbar il-ba©it, li suppost ifisser x’perspettivi l-gvern ikun qed jara quddiemu qabel jiddeçiedi dwar il-ba©it tas-sena li jmiss. Fil-fatt il-proposti li jidhru fil-ba©it ikunu ˙afna drabi ’l bog˙od sew minn çerti kunsiderazzjonijiet li jitqajmu fid-dokument ta’ qabel il-ba©it. Dis-sena ma tantx kienet eççezzjoni f’hekk. Imbag˙ad matul u wara d-diskors li jag˙mel il-ministru tal-finanzi u li jdum xi sag˙tejn jekk mhux aktar, ikollna quddiemna l-proposti tal-ba©it fid-dettall, biex il-Parlament jivvota fuqhom. Dis-sena wkoll hekk ©ara. Min-na˙a tal-OppoΩizzjoni saret il-kritika li l-ba©it wera prijoritajiet Ωbaljati, kif ukoll li ˙afna mill-premessi tieg˙u ma kinux realistiçi. B˙as-soltu, il-gvern Nazzjonalista ma tax kas ta’ dil-kritika...

169


IL-KUMMISSJONI EWROPEA MA QABLITX

Ftit qabel l-Ewwel tas-Sena, ˙ar©et l-a˙bar li mill-Kummissjoni Ewropea kienet g˙orkithom g˙ajnhom mill-miΩuri tal-ba©it anki wara li dan g˙adda mill-Parlament. Imbag˙ad, fi stqarrija g˙all-istampa, il-gvern ˙abbar li kien iddeçieda li jnaqqas b’xi 40 miljun ewro l-proposti g˙an-nefqa tieg˙u... Effettivament, il-Kummissjoni Ewropea ma qablitx mal-pronostku li l-gvern kien qed jag˙mel dwar kemm se tikber l-ekonomija Maltija. Qieset li l-ekonomija se tikber b’rata anqas milli bassar il-gvern... u allura... id-defiçit b˙ala persenta©© tal-ekonomija, tal-Prodott Gross Domestiku, se jiΩdied fuq dak li bassar il-gvern. Il-gvern kellu jbaxxi rasu u jara kif jag˙mel, minkejja d-deçiΩjoni li g˙addiet mill-Parlament, biex inaqqas il-miΩuri tan-nefqa tieg˙u. Fl-a˙˙ar ©img˙at ma naqsux il-kontroversji dwar x’©ara tassew. Bir-ra©un l-OppoΩizzjoni talbet spjega dettaljata ta’ kif il-gvern kien bi˙siebu jwettaq it-tnaqqis fl-ispiΩa. ...Il-gvern g˙amel minn kollox biex ja˙bi kif bi˙siebu jwettaq it-tnaqqis. Imma l-ag˙ar kienet l-iskuΩa li n©abet mill-gvern biex tispjega t-tnaqqis innifsu. F’din l-ispjega, l-intervent tal-Kummissjoni bilkemm issemma. Skont il-gvern u skont il-ministru tal-finanzi, lejn l-a˙˙ar tas-sena li g˙addiet u matul Diçembru, il-previΩjonijiet dwar kif kienet se tmur l-ekonomija dinjija u Ewropea ˙adu daqqa ©dida ’l isfel. U allura kien jag˙mel sens li l-gvern jie˙u prekawzjonijiet billi jnaqqas mill-impenji finanzjarji g˙al dis-sena. Xejn ma jista’ jkun aktar diΩonest mill-blaff ta’ din l-ispjega. It-talba tal-Kummissjoni Ewropea biex il-gvern


inaqqas in-nefqa fil-ba©it jekk ried li titwaqqaf il-proçedura kontrih tal-Kummissjoni Ewropea dwar defiçit eççessiv saret f’ittra formali. Il-korrispondenza tpo©©iet fuq il-Mejda tal-Kamra fuq talba tieg˙i mill-ministru tal-finanzi. Il-proçedura dwar defiçit eççessiv kontra Malta twaqqfet meta l-gvern innotifika lill-Kummissjoni li kien baxxa rasu g˙at-talba tag˙ha.

IT-TBASSIR DWAR L-EKONOMIJA DINJIJA

Aktar minn hekk, mhu minnu xejn li lejn l-a˙˙ar tas-sena li g˙addiet, inqalg˙et xi bidla liema b˙alha fit-tbassir ekonomiku. Kemm fid-diskors tal-ba©it u kemm fl-Economic Survey li tqassam mad-diskors, saru referenzi g˙ar-rapport tal-Kummissjoni Ewropea, l-autumn forecast, bit-tbassir ekonomiku li ˙are© f’Ottubru �011. Saru referenzi wkoll g˙all-World Economic Outlook tal-Fond Monetarju Internazzjonali li ˙are© f’Settembru �011. FiΩ-Ωew© rapporti hemm imniΩΩel çar u tond li kien qed ise˙˙ ta˙sir sinjifikattiv fil-qag˙da ekonomika internazzjonali... Mhux minnu li l-gvern kellu jaffaççja sitwazzjoni li qed tit˙assar f’daqqa wa˙da matul Diçembru �011, wara li kien g˙adda l-ba©it... Sadattant imma, l-affarijiet fit-tmexxija tal-finanzi pubbliçi Maltin jew tal-ekonomija Maltija mhumiex ward u Ωahar, kif i˙obb jifta˙ar il-gvern. Kienet ˙a©a stramba kif hu pprefera jinjora t-tbassir tal-Kummissjoni Ewropea meta ©ie biex jit˙addet dwar l-ekonomija Maltija u kif kienet mistennija tiΩviluppa. Fir-rebbieg˙a tas-sena li g˙addiet, il-Kummissjoni Ewropea kienet qed tbassar tkabbir ta’ �.� fil-mija fis-sena �01� g˙all-ekonomija Maltija. Fil-˙arifa tas-sena li g˙addiet, f’Ottubru, g˙ax rat li l-affarijiet kienu qed


ji˙Ωienu fl-Ewropa, il-Kummissjoni bassret li l-ekonomija Maltija minflok bi �.� fil-mija kienet se tikber bir-rata ta’ 1.3 fil-mija tul l-�01�. Issa ftit biss wara, fil-ba©it tieg˙u, il-gvern Malti ˙are© jg˙id li l-ekonomija Maltija g˙as-sena �01� kellha tikber bi �.3 fil-mija, ji©ifieri aktar milli bassret il-Kummissjoni Ewropea fir-rebbieg˙a, qabel imbag˙ad naqqset it-tbassir tag˙ha. Ovvja x’©ara; il-gvern induna fl-a˙˙ar mument, f’Diçembru, kemm la˙qet marret lura l-ekonomija dinjija. Il-˙sieb tieg˙u kien li jda˙˙al previΩjoni ta’ tkabbir ekonomiku Malti li setg˙et imbag˙ad tippermettilu li jçekken id-defiçit pubbliku b˙ala persenta©© tal-Prodott Gross Domestiku, waqt li jkompli jΩid fin-nefqa tieg˙u.

IS-SOVRANITÀ NAZZJONALI MNAQQRA

Imma sab lill-Kummissjoni Ewropea li qaltlu: no way. Hi baqg˙et temmen fit-tbassir tag˙ha u sa˙qet li l-gvern kellu jara x’jag˙mel, inkella tibqa’ g˙addejja bil-proçedura tad-defiçit eççessiv. U l-gvern baxxa rasu. Hu ˙aΩin li dawn l-affarijiet mhux qed jintqalu b’mod onest u çar lill-poplu Malti. Strettament, dal-Parlament messu qed jer©a’ jiddiskuti mill-©did il-ba©it g˙al dis-sena, g˙ax id-deçiΩjonijiet li g˙addew b’vot minn dal-Parlament... kontra l-parir tal-OppoΩizzjoni, imma g˙addew... dawn id-deçiΩjonijiet ©ew sfiduçjati mill-Kummissjoni Ewropea u mibdula. T˙ares kif t˙ares lejn dil-˙a©a, d˙alna fi Ωmien fejn is-sovranità nazzjonali u l-poteri ta’ dal-Parlament qed jitnaqqsu u qed ikunu so©©etti g˙al sorvelja u g˙al kontroll minn barra. Jien wie˙ed minn dawk li xejn m’a˙na nie˙du gost b’dil-biçça, anke meta nara li f’çerti oqsma, il-kummenti


li tag˙mel il-Kummissjoni Ewropea jag˙mlu sens kbir. M’iniex nie˙u gost g˙ax minn Ωmien twil ilu, kont bassart x’se ji©ri. M’iniex konvint li xejn m’hawn nies li b˙ali mhumiex jie˙du gost. Anzi, forsi hemm ˙afna aktar milli jien l-ewwel wie˙ed kont nistenna. Imma dak punt li ta’ min iqisu b’mod ie˙or, f’lok ie˙or u b’mezzi o˙rajn. G˙ax issib min jargumenta li m’hemm xejn ta’ barra minn hawn f’li Malta taççetta d-dixxiplina Ewropea u taΩ-Ωona ewro, kif qed jag˙mlu pajjiΩi kbar o˙ra. B’hekk, qed jin˙oloq blokk wie˙ed li jkun koerenti u qawwi fl-Ewropa, skont g˙aΩliet politiçi li di©à saru fil-pajjiΩi differenti. Il-gvern jidher li hu miexi fuq dal-binarju, allavolja jaf li kull darba qed nid˙lu aktar ’il ©ewwa fi triq li minnha diffiçli, jekk mhux impossibbli wara, li to˙ro©. Sadattant, kull darba, mhux qed jing˙ata tag˙rif lill-poplu dwar x’inhu g˙addej. Tag˙rif li l-poplu jista’ jifhem. Tag˙rif li jkun onest u çar dwar il-konsegwenzi tad-deçiΩjonijiet li qed jittie˙du. Tag˙rif li jkun inkwadrat fi stampa çara u realistika tal-qag˙da tal-ekonomija Maltija, lil hinn mill-propaganda li dejjem g˙addejja. Hu x’inhu, ninsabu fit-triq fejn ikollna naççettaw b’g˙ajnejna mag˙luqa kontrolli dejjem akbar fuq it-tmexxija tag˙na – kontrolli biex jassiguraw li a˙na wkoll qed insegwu r-regoli ssettjati fuq skala Ewropea g˙al kif jitmexxew il-ba©its tal-pajjiΩi differenti. Óalliha li l-esperjenza turi kif skont il-pajjiΩ li jkun: jekk tkun Spanja, jag˙tuk iç-çans li matul sena tfalli mill-mira li qbilt mag˙ha, sakemm twieg˙ed li s-sena ta’ wara jirnexxilek iΩΩomm mal-mira li ssettjajt g˙al dik is-sena – kif g˙adu kemm ©ara. U jekk tkun Malta, ikollok malajr malajr tibdel il-ba©it li g˙addejt mill-Parlament qabel tkun


bdiet is-sena u t˙abbar x’©ag˙luk tag˙mel, inkiss inkiss, fi stqarrija g˙all-midja.

L-ESPERTI EWROPEJ U AÓNA

U ̇ alliha wkoll li dawk li qed jag˙mlu s-sorvelja u l-kontrolli fuqna, minn Brussell jew Frankfurt, huma hekk imsej˙a esperti u ekonomisti imma mhux eletti, li huma dedikati biex ida˙˙lu l-istess kejl kullimkien, f’Malta daqskemm fil-Ìermanja, qisu li l-ekonomiji huma kollha tal-istess skala u struttura, u jinsabu g˙addejja fuq l-istess binarju. Fl-istess ˙in, dawn in-nies u esperti huma mnebb˙a, mhux billi jg˙idu, minn miri politiçi aktar milli miri tekniçi. Semmejtha kemm-il darba u ner©a’ nsemmiha hawn – il-laqg˙a li kellna Dottor Ìor© Vella u jien mal-Kummissarju Almunia fl-ewwel Ωmien meta l-gvern Nazzjonalista twebbel li jrid ida˙˙al lil Malta akkost ta’ kollox fiΩ-Ωona ewro malajr kemm jista’ jkun. Fil-laqg˙a ma’ Almunia, intba˙t kif dan u l-esperti tieg˙u, mo˙˙hom kien kif ikabbru malajr kemm jista’ jkun iΩ-Ωona ewro, bilfors g˙al ra©unijiet politiçi, g˙ax ir-ra©unijiet ekonomiçi u tekniçi qatt ma da˙lu fil-kwistjoni. Xejn ma kien jimpurtahom jekk Malta ˙aditx Ωmien biΩΩejjed biex taddatta ru˙ha g˙al s˙ubija s˙i˙a fl-Unjoni Ewropea li dak iΩ-Ωmien kienet g˙adha friska. Wisq anqas impurtahom jekk l-istrutturi ekonomiçi Maltin kinux adatti u kompetittivi biΩΩejjed g˙at-t˙addim tal-ewro. Kulma kellha tag˙mel Malta, qalu, kien li taddatta ru˙ha malajr kemm jista’ jkun g˙ar-regoli tat-tmexxija tal-ewro. Fl-istess Ωmien li kienu qed jg˙idulna dan, Almunia u s˙abu kienu qed jag˙lqu g˙ajnejhom lejn dak li kien qed ji©ri fil-Greçja, jew lejn dak li kien qed jin˙ema fil-Portugall


u fl-Irlanda. Wara ©ew jg˙idu li l-Greçja kienet ippreΩentat statistika li tat stampa falza ta’ x’kien g˙addej jew li dwar il-Portugall l-affarijiet ˙Ωienu malajr wisq min˙abba li dal-pajjiΩ ma mmodernizzax malajr biΩΩejjed. Illum l-istess nies g˙adhom f’posthom, qisu ma ©ara xejn... u qed ikunu huma li se jissorveljaw dak li nkunu qed nag˙mlu, tajjeb jew ˙aΩin, fil-finanzi pubbliçi u fit-tmexxija ekonomika. Issa hi ˙a©a çara li a˙na hawn m’g˙andniex stilel imexxuna... u jien wie˙ed mill-aktar nies li, matul is-snin, ikkritikajt it-tmexxija preΩenti. Imma d-dubju jqum: kemm huma a˙jar l-istilel li se jkunu qed jikkontrollawna minn Brussell? G˙ax biex tg˙axxaqha, meta wie˙ed i˙ares illum lejn il-kriΩi li Ω-Ωona tal-ewro tinsab maqbuda fiha... u aktar minn hekk, lejn in-nuqqas ta’ konver©enza li teΩisti bejn l-ekonomiji differenti fi ˙dan iΩ-Ωona, il-mistoqsija tqum minnufih: x’se ji©ri meta l-gvernijiet kollha se jkunu tpo©©ew suppost fil-camicia di forza ta’ bilanç fil-kotba finanzjarji tag˙hom, u meta kollha se jibqg˙u j˙addmu l-istess munita, waqt li ma jeΩisti xejn biex jiΩgura li tal-anqas l-ekonomiji involuti se jkunu qed jersqu qrib xulxin f’dak li g˙andu x’jaqsam ma’ livelli tal-g˙ajxien u produttività? Hemm xi çans li ˙a©a b˙al din tista’ tirnexxi? Veru li ˙add, jew kwaΩi ˙add f’Malta, mhu jpo©©i dawn il-mistoqsijiet: imma hemm qeg˙din. U twe©iba g˙alihom se tkun qed tiddetermina, b’mod kruçjali, il-futur tal-ba©its Maltin, ikun min ikun fil-gvern.

BLA GÓODOD TA’ TMEXXIJA TAJBA BIÛÛEJJED

…Hemm aspett ie˙or li g˙andu j˙assibna. Kif rajna dis-sena, il-ba©it Malti m’g˙adux aktar Malti mija fil-mija, imma


qed ji©i determinat minn barra skont regoli li aççettajna. Parti minn din id-determinazzjoni ssir permezz ta’ negozjati mal-awtoritajiet ta’ Brussell; parti o˙ra tispiçça imposta minnhom. Madankollu, dawn l-awtoritajiet g˙andhom g˙odod ta’ kejl, skrutinju u superviΩjoni li dejjem qed jitjiebu. Sadattant, kif naraha jien u o˙rajn, min-na˙a Maltija, l-g˙odod ta’ tmexxija ekonomika u finanzjarja baqg˙u primittivi g˙all-a˙˙ar – barra milli huma mherrija bil-kamla tal-interess parti©jan tal-gvern tal-©urnata. Fuq kollox, teknikament qed na˙dmu b’mezzi li ma jistg˙ux i˙abbtuha ma’ dawk ta’ pajjiΩi o˙ra jew tal-Kummissjoni Ewropea. U mid-dehra se nibqg˙u naççettaw b’g˙ajnejna mag˙luqa l-verdetti dwarna li tibqa’ to˙ro© il-Kummissjoni ta’ Brussell. De˙lin fi Ωmien fejn se jkollna nkampaw ma’ nd˙il dirett fil-ba©its tal-pajjiΩ, ming˙ajr ma nistg˙u nkunu Ωguri li dak li j©ag˙luna nag˙mlu qed ikun tassew bis-sens. Dan g˙ax l-g˙odod li a˙na qed nuΩaw mhumiex tajba biΩΩejjed. Tidher sew dil-˙a©a mill-mod kif il-gvern g˙adu kemm aççetta qisu ˙aruf, ming˙ajr ma kkontesta b’mod konvinçenti, dak li l-Kummissjoni qalet dwar ir-rata ta’ tkabbir ta’ dis-sena fl-ekonomija Maltija. Minnu nnifsu… apparti mill-effett li dan se jkollu fil-mod kif nittrattaw mal-Kummissjoni Ewropea… il-fatt li m’a˙niex qed in˙addmu g˙odod tajba biΩΩejjed messu qed jixprunana biex intejbuhom. Minflok, g˙al ra©unijiet politiçi tul dawn l-a˙˙ar snin: jien ng˙id mis-sena 1998 lil hawn, imma jista’ jkun li ninsab pre©udikat dwar hekk: l-interess primarju tal-gvern kien kif jillapazza mill-a˙jar li jista’ ˙alli jara kif se jag˙laq ˙alq il-Kummissjoni Ewropea. Kwalunkwe titjib li sar fil-g˙odod ta’ tmexxija ekonomika u finanzjarja sar sakemm jintla˙aq dan il-g˙an. Mill-bqija ftit li xejn urejna interess


filli l-g˙odod jitjiebu b’mod konkret g˙ax, tg˙id x’tg˙id il-Kummissjoni u ji©ri x’ji©ri mag˙ha, hu fl-interess nazzjonali li dawn l-g˙odod ta’ kejl u tmexxija jinΩammu misnuna. Óalli nsemmi w˙ud minnhom. Nibda bl-istess statistika dwar il-finanzi tal-gvern. Il-weg˙da li se jkollna l-ispiΩa u d-d˙ul tal-gvern ippreΩentati fuq baΩi ta’ accruals ilha mag˙na snin twal. Il-ministru tal-finanzi ilu jg˙id li l-gvern baqa’ jwettaqha. Imma meta wie˙ed jifli x’g˙adda u x’inhu g˙addej, isib li mhu veru xejn. Il-finanzi tag˙na g˙adhom iperpru g˙ax, effettivament, il-gvern g˙adu qed jopera fuq baΩi ta’ cash, ta’ flus kontanti. Isiru a©©ustamenti mekkaniçi fl-a˙˙ar tas-sena biex ir-riΩultati finanzjarji mniΩΩla skont il-˙ru© ta’ flus jing˙ataw id-dehra li saru fuq baΩi ta’ accruals, imma r-realtà hi li l-gvern innifsu qatt mhu qed jag˙ti rendikont serju ta’ x’inhuma l-ispejjeΩ. Biex tag˙qad, hemm patafjun ta’ miΩuri li jistg˙u jittie˙du biex il-gvern jonfoq jew jimpenja ru˙u li jonfoq, u dawn jibqg˙u ma jidhrux fil-kontijiet tal-gvern. Special purpose vehicles, kumpaniji u fondazzjonijiet imwieΩna b’garanziji tal-gvern, pro©etti simili g˙al joint ventures mal-kunsilli lokali u mekkaniΩmi o˙ra biex tal-a˙˙ar jonfqu l-flus ming˙ajr kontabilità – dawn il-mani©©i u o˙rajn b˙alhom qed irendu l-kontijiet li jinΩammu, dubjuΩi g˙all-a˙˙ar. B’hekk insibu li fl-ewwel xhur ta’ sena finanzjarja tog˙la n-nefqa tal-gvern, g˙ax ikun qed i˙allas kontijiet tas-sena ta’ qabel li ma jkunux dehru fir-rendikonti li jag˙ti fi tmiem is-sena, u l-log˙ba tkompli g˙addejja minn sena g˙al sena. U nsibu wkoll Ωidiet ta’ sena fid-dejn nazzjonali li jibqg˙u jeççedu l-ammont li l-gvern ikun iddikjara b˙ala d-defiçit tieg˙u g˙al dik is-sena. Dil-˙a©a fil-verità mhix qed ti©ri f’Malta biss imma


fiΩ-Ωona kollha tal-ewro. Mhux ta’ b’xejn li l-Greçja kellha kull kantuniera minn fejn tista’ ta˙bi d-defiçit tag˙ha. Personalment, m’iniex konvint li fejn na˙sbu li nistg˙u ng˙adduha lixxa, a˙na u pajjiΩi o˙ra, inkluΩa l-Ìermanja, m’a˙niex lesti li nag˙mlu l-istess ˙a©a. Kieku hemm tassew rieda soda biex kul˙add iΩomm bilanç fil-ba©it tieg˙u, kullimkien u l-˙in kollu, l-ewwel pass messu kien li tidda˙˙al sistema wa˙da serja, maqbula u m˙addma, g˙al kif jinΩammu l-finanzi pubbliçi b’mod ekwivalenti g˙as-sistema tal-accruals fis-settur privat. Bejn l-1996 u l-1998, konna tellaqna proçedura b˙ala gvern Laburista biex nil˙qu dan il-g˙an. Wara, dil-proçedura ©iet Ωmantellata, u minflokha dda˙˙let sistema komplikata li kellha tissorvelja l-infiq tad-dipartimenti tal-gvern sakemm twassal g˙al sistema s˙i˙a ta’ accruals. Imma wara ftit taΩ-Ωmien, dan kollu spiçça jintesa. Raw kbir u spiççaw ma g˙amlu xejn. Minflok sistema ta’ accruals biex inkunu nafu kemm tassew il-gvern qed jonfoq fi spiΩa rikorrenti u fi spiΩa kapitali, g˙andna sistema ta’ kontijiet li g˙adha sal-lum, iççajpar ir-realtà finanzjarja. Jien xi kultant nie˙u l-impressjoni li ˙afna nies qed isibu ˙a©a b˙al din konvenjenti.

AWDITJAR TA’ KONTIJIET U ÛAMMA TAL-ISTATISTIKA

FiΩ-Ωmien li ©ej, dis-sistema antikwata ta’ kif jinΩammu l-kontijiet tal-gvern se tkompli tnaqqas fil-˙ila tal-gvern, hu min hu li qed imexxi, biex jag˙raf tassew fejn jinsab u biex ikun jista’ jikkontesta l-verdetti tal-Kummissjoni Ewropea dwar it-tifsira vera tal-istatistika finanzjarja li tkun qed tintuΩa. Aktar u aktar g˙ax jidher sew li fejn hemm xi dubju


dwar il-kejl li qed jintuΩa, il-Kummissjoni Ewropea se tibqa’ tuΩa l-kejl tag˙ha, ng˙idu xi ng˙idu a˙na. Il-problema tikkomplika ru˙ha mill-fatt li hemm bΩonn ta’ reviΩjoni s˙i˙a fil-mod kif qed jopera l-uffiççju tal-Awditur Ìenerali biex jag˙mel l-awditjar u r-rapporti tieg˙u. Dan l-Uffiççju li jinsab ta˙t id-direzzjoni tal-Parlament baqa’ marbut wisq ma’ prattiki u metodi qodma ta’ kif isir l-awditjar pubbliku. Ir-rapport annwali tieg˙u dwar il-kontijiet tal-gvern hu prevedibbli g˙all-a˙˙ar u g˙adu msejjes fuq il-mudell li kien jinΩamm snin twal ilu, meta l-esi©enzi finanzjarji tal-gvern kienu bil-wisq differenti. Ta’ spiss, ir-rapporti u l-analiΩijiet tal-awditur jirrestrin©u ru˙hom g˙al jekk hix qed ti©i segwita l-proçedura finanzjarja stabbilita mir-regolamenti tal-gvern – ˙a©a li bla dubju hi importanti. Imma dan qed isir a skapitu tal-kunsiderazzjoni wisq aktar importanti, dwar jekk il-metodi li bihom il-gvern qed jopera jag˙tux value for money u jekk humiex effettivi minn perspettiva mani©erjali g˙all-a˙jar uΩu tar-riΩorsi. Imbag˙ad, biex b˙al tpo©©i dawl kurjuΩ fuq il-problema li g˙adni kemm semmejt, g˙andna l-prattika tal-Uffiççju tal-Awditur fejn ir-rapport annwali tieg˙u dwar il-finanzi pubbliçi jitpo©©a fuq il-mejda tal-Kamra eΩatt wara li jkunu spiççaw id-dibattiti dwar il-ba©it tas-sena li jmiss. Ftit ilu – ma nafx jekk din kinitx l-ewwel darba li ©rat – ipprotestajt kontra dil-˙a©a. Kien hemm min skanta u tkaΩa: b˙allikieku hawn xi kumpanija li tag˙mel il-laqg˙a annwali ©enerali biex tikkunsidra l-kontijiet ming˙ajr ma jkollha quddiemha fl-istess ˙in ir-rapport tal-awditur dwar il-kontijiet tal-a˙˙ar sena mitmuma. Imma mhux dik hi l-prattika b˙alissa f’dal-Parlament. FiΩ-Ωmien li ©ej, dil-biçça se tikkontrasta sew mal-˙tie©a li se tikber, biex il-kontijiet tal-gvern jidhru li huma serji u trasparenti g˙al


kul˙add, quddiem l-esi©enzi li nibqg˙u konformi ma’ regoli ta’ tmexxija li se jkunu qed ji©u sorveljati bi ˙ruxija dejjem akbar minn barra. L-istess kunsiderazzjonijiet li jqumu dwar in-nuqqas ta’ sistema reali ta’ accruals fil-kontijiet tal-gvern iqumu fir-rigward ta’ kif, b’mod ©enerali, l-istatistika ekonomika qed tin©abar. Hemm bΩonn ta’ awditjar s˙i˙ tal-Uffiççju Nazzjonali tal-Istatistika. Skont regoli ©odda li jridu jda˙˙lu minn Brussell dwar il-©bir ta’ statistika nazzjonali, l-istruttura attwali tal-Uffiççju Nazzjonali tal-Istatistika mhux se tkun vijabbli aktar. L-Uffiççju ma jistax jibqa’ ta˙t it-tutela tal-gvern imma jrid ikun indipendenti mill-gvern, kif mill-bidu nett konna s˙aqna li g˙andu jsir b˙ala OppoΩizzjoni Laburista. Ji©ifieri li tal-anqas l-Uffiççju tal-Istatistika jrid ikun b˙all-Uffiççju tal-Awditur ta˙t it-tutela tal-Parlament. Mhux bilfors ˙a©a b˙al din awtomatikament se ttejjeb l-operat tal-Uffiççju tal-Istatistika. Imma forsi dda˙˙al sens ta’ indipendenza fl-Uffiççju mill-poteri statali u ΩΩid fih ukoll imbag˙ad il-˙erqa g˙at-trawwim ta’ kompetenza statistika awtonoma, li b˙alissa g˙adha nieqsa sew. L-Uffiççju qieg˙ed jag˙mel ˙iltu biex isegwi l-proçeduri imposti jew imda˙˙la fuqu mill-Eurostat, imma dan mhux biΩΩejjed. L-Uffiççju m’g˙andux il-kompetenzi statistiçi me˙tie©a biex jg˙arbel b’mod xjentifiku t-tifsira g˙al pajjiΩna tal-proçeduri ta’ kejl kif imda˙˙la mill-Eurostat. Hi ˙a©a ovvja li rridu nkunu konformi mal-esi©enzi tal-Eurostat... g˙alkemm anki dan l-uffiççju Ewropew je˙tie©lu riforma mill-qieg˙. L-isem tieg˙u ma jfissirx xi çertifikat ta’ kompetenza li g˙andu ji©i aççettat b’g˙ajnejn mag˙luqa. BiΩΩejjed wie˙ed jisma’ xi opinjonijiet li jo˙or©u fuq baΩi hekk imsej˙a “kunfidenzjali” mill-istaff tal-Fond Monetarju


Internazzjonali biex jifhem dil-˙a©a. Biss lil hinn minn hekk, g˙andna bΩonn ta’ eΩami serju dwar kif qed tin©abar l-istatistika ekonomika u finanzjarja f’Malta u dwar kemm tista’ tkun fijabbli. Qed naddottaw proçeduri ta’ sampling u surveying mill-Eurostat b’g˙ajnejna mag˙luqa u mbag˙ad qed nie˙du r-riΩultati tag˙hom b˙ala Van©elu. Il-gvern ma tantx hu mdejjaq b’hekk sa issa g˙ax in-numri li ˙er©in g˙adhom jistg˙u ji©u interpretati b’mod li lilu ma jdejqux. Dan mhux kriterju tajjeb biΩΩejjed. G˙ax çerti diskrepanzi u lakuni li jinsabu fl-istatistika uffiçjali qed ikunu lampanti: bejn l-indizji tal-produzzjoni u dawk tal-esportazzjoni industrijali; bejn il-figuri tal-importazzjoni u dawk tal-konsum intern; bejn iΩ-Ωieda fl-output u Ω-Ωieda fl-impjiegi; bejn il-qag˙da fit-turiΩmu u d-data ppubblikata mill-g˙aqda tal-lukandiera u r-ristoranti. L-introduzzjoni tal-metodolo©ija tal-Eurostat dwar l-esportazzjoni u l-importazzjoni pereΩempju ΩΩelle© id-differenza bejn esportazzjoni u ri-esportazzjoni. G˙all-pajjiΩi l-kbar din mhix daqstant problema. G˙al pajjiΩ b˙al tag˙na tista’ tkun, u qed tkun, distinzjoni kruçjali. Jew inkella hemm l-istatistika tal-impjiegi, li tidher kemm permezz ta’ survey ibbaΩat fuq il-metodolo©ija tal-Eurostat u kemm skont ir-re©istri tal-ETC. MiΩ-Ωew© lati hemm problemi. Hemm bΩonn li l-metodolo©ija li qed ti©i segwita g˙al-Labour Surveys tkun awditjata xjentifikament, dwar kemm hi adatta g˙aç-çirkostanzi tag˙na. Mentri l-istatistika mi©bura fuq il-baΩi tad-data li g˙andha l-ETC hi suspettuΩa – biex tifhem li ç-çifri li qed jg˙addulna huma nieqsa mill-kredibilità, biΩΩejjed tiltaqa’ ma’ nies li ilhom Ωmien twil ma ja˙dmu imma li skont l-ETC huma impjegati g˙ax ir-re©istrazzjoni tag˙hom qatt ma tne˙˙iet.


Din hi ˙a©a mill-aktar serja u mhux g˙ax g˙andha impatt fuq kif qed issir il-propaganda politika dwar kemm dal-gvern qed jirnexxilu jilqa’ g˙ar-riçessjoni u jo˙loq impjiegi. L-aktar serju tag˙ha hu li ma tippermettilniex ikollna stampa çara dwar kif tabil˙aqq qed tevolvi l-ekonomija fil-qasam tal-impjiegi.

KIF ISIR IT-TBASSIR EKONOMIKU

Lil hinn minn dan imbag˙ad, g˙andna l-kwistjoni dwar kif qed isiru l-previΩjonijiet ta’ tkabbir ekonomiku. Jekk fhimt tajjeb xintqal matul is-snin, fis-sistema tal-gvern fostna qed jintuΩaw Ωew© mudelli ta’ tbassir ekonomiku g˙al Malta: wie˙ed fil-Ministeru tal-Finanzi, l-ie˙or fil-Bank Çentrali. Dawn mhux dejjem ikunu f’sintonija ma’ xulxin. Il-buΩillis imma hu li t-tnejn mhumiex trasparenti. Kulma ©ieli nsiru nafu dwarhom hu r-riΩultat tal-eΩerçizzji ta’ tbassir li jintg˙amlu bihom. Xi Ωmien ilu, kont issu©©erejt li l-mudell tal-Bank Çentrali ji©i ppubblikat biex il-konkluΩjonijiet tieg˙u jkunu jistg˙u ji©u evalwati b’mod indipendenti. Wara kollox ma hemm l-ebda ra©uni g˙aliex mudelli b˙al dawn, li huma mibnija bi flus il-pubbliku, g˙andhom jinΩammu kunfidenzjali. Kif dejjem ji©ri f’kaΩi hekk, l-appell tieg˙i waqa’ fuq widnejn torox. Illum, meta jkollna previΩjonijiet differenti mag˙mula mill-Ministeru tal-Finanzi u mill-Kummissjoni Ewropea dwar kif se tiΩviluppa l-ekonomija Maltija, wie˙ed irid jag˙mel att tal-fidi biex jara liema previΩjoni tag˙mel l-aktar sens. Jien l-ewwel wie˙ed, m’iniex lest nag˙mel atti tal-fidi f’dal-qasam. B’li qed ng˙id, nixtieq nuri li hemm ˙tie©a ur©enti biex l-g˙odod li bihom qed ti©i ssettjata l-a©enda ekonomika


tal-pajjiΩ, ji©u riformati u modernizzati. L-ur©enza to˙ro© mill-fatt li bil-piΩijiet ©odda ta’ tmexxija li s-s˙ubija tag˙na fiΩ-Ωona ewro qed tpo©©i fuq il-finanzi pubbliçi tag˙na, ma nistg˙ux naffaççjaw ind˙il minn barra fuq it-tmexxija tal-finanzi pubbliçi b’g˙odod tekniçi li ma jistg˙ux jaqduna tajjeb. U dan jg˙odd g˙al kwalunkwe gvern hu min hu, tal-lum u tal-futur. Jekk ma ni˙dux ˙sieb a˙na tal-g˙odod li bihom irridu nippjanaw u mmexxu, ˙add mhu se jid˙ol minflokna biex jiΩgura li tassew l-g˙odod qed iservu l-interess tal-poplu Malti. Dan irid jitqies fl-isfond tal-miri ewlenin li g˙andu jkollna quddiemna fiΩ-Ωmien li ©ej, minkejja l-˙afna fta˙ir vojt li nisimg˙u dwar kemm sejrin tajjeb ekonomikament.

TKABBIR EKONOMIKU FRAÌLI

De˙lin aktar ’il ©ewwa f’sistema ta’ tmexxija Ewropea li se tnaqqas… u mhux iΩΩid… fil-g˙aΩla ta’ strate©iji ekonomiçi li nistg˙u naddottaw. B’xorti ˙aΩina, dan se ji©ri forsi fl-ag˙ar mument g˙alina. Jg˙id xi jg˙id il-gvern, l-ekonomija Maltija qed taffaççja futur ta’ sta©nar jekk ma ttejjibx il-produttività u l-kompetittività tag˙ha. It-tkabbir ekonomiku li l-gvern tant jifta˙ar bih qed ikun fra©li g˙all-a˙˙ar. Fondamentalment jiddependi mis-settur finanzjarju u dak tal-im˙atri fuq l-internet, imwieΩen ftit dan l-a˙˙ar mit-turiΩmu meta l-kon©untura politika fil-Mediterran issir xi ftit imwieg˙ra. Dan mhux mudell sostenibbli, sakemm Malta ma tridx tadotta mija fil-mija l-istrate©ija tar-Renju Unit u tpo©©i l-futur kollu tag˙ha fis-setturi finanzjarji. Imma strate©ija b˙al dik mhix se tkun kompatibbli ma’ kif qed tiΩviluppa l-politika ekonomika fi ˙dan iΩ-Ωona ewro.


G˙alhekk il-kompetittività u l-produttività jridu jissa˙˙u fl-oqsma li huma direttament produttivi, qodma u ©odda. Biex dan jitwettaq, irridu nkabbru l-livelli ta’ investiment, kemm pubbliku u kemm fis-settur privat. Ma hemmx triq o˙ra. Kif ili ng˙id, u kif di©à re©a’ ntqal anki waqt dan id-dibattitu, fl-a˙˙ar snin il-livelli ta’ investimenti diretti fil-pajjiΩ naqsu minflok Ωdiedu. Qabel d˙alna fl-Unjoni Ewropea kienu jg˙idulna li s-s˙ubija s˙i˙a se sservi ta’ xprun g˙al aktar investiment dirett, li dak iΩ-Ωmien kien di©à qed jidher b˙ala problematiku. Imma wara li sirna membri tal-Unjoni, minflok Ωdied, il-livell ta’ investiment dirett fostna naqas. Din hi l-istess problema… li minkejja x’tg˙id it-trojka li qed tikkontrolla l-finanzi tal-Greçja – il-problema ji©ifieri, ta’ livell sistematikament baxx ta’ investiment – li qed tifni lill-Greçja u lill-pajjiΩi o˙ra tal-Mediterran membri taΩ-Ωona ewro, inkluΩa Malta. Hi l-problema li tispjega g˙aliex mhux qed ikun hemm konver©enza bejn il-pajjiΩi fiΩ-Ωona ewro li sejrin tajjeb u l-pajjiΩi li qed jaqg˙u lura jew li jinsabu fi kriΩi. Madankollu, ir-regoli ta’ tmexxija finanzjarja li qed ji©u u se jkunu qed ji©u m˙addma miΩ-Ωona ewro, se jillimitaw bil-kbir il-mobilizzazzjoni ta’ investimenti diretti, speçjalment dawk pubbliçi – se jkunu qeg˙din jillimitaw bil-kbir kemm jista’ jsir investiment ©did mill-gvern. Hu b’investiment pubbliku b˙al dan, investiment li jkun iffokat u effettiv, li gvern jista’ jikkontribwixxi direttament g˙al titjib fil-kompetittività tal-pajjiΩ. Imma r-regoli li se japplikaw g˙all-finanzi pubbliçi ma jag˙mlux differenza bejn nefqa fuq investiment u nefqa rikorrenti. Biex inkunu g˙edna kollox. Ir-rekord tal-gvern


Nazzjonalista dwar nefqa kapitali, anki fil-livelli baxxi li fuqhom din inΩammet fl-a˙˙ar snin u qabel, xejn mhu sabi˙. G˙andna l-fjask fl-investiment kapitali fl-isptar Mater Dei, fejn il-fehma ©enerali hi li minkejja l-g˙exieren tal-miljuni li ntefqu fuqu, dan l-isptar mhux qed ila˙˙aq mal-bΩonnijiet. Fis-sena 1998, gvern Laburista kien ˙alla pjanijiet u beda jibni g˙al sptar b’aktar sodod. Wara, gvern Nazzjonalista g˙o©bu jkabbar il-footprint tal-isptar waqt li jnaqqas is-sodod u waqt li jΩid bla qies fin-nefqa kapitali. Rajna ©ennata o˙ra fil-mod kif ©ew ittrattati l-bΩonnijiet g˙al spiΩa kapitali ©dida dwar ener©ija u modernizzar tal-Enemalta, ˙a©a li konna bdejna nag˙tuha prijorità bejn l-1996 u l-1998 u li t˙alliet fid-diΩgwid g˙al kwaΩi tnax-il sena s˙a˙. G˙andna l-fjask fl-investimenti pubbliçi li saru g˙al Smart City. Kellna l-fjask fl-infiq ta’ fondi pubbliçi g˙all-bidla tat-trasport pubbliku, fejn in˙lew miljuni ta’ ewro fuq konsulenzi u xog˙lijiet li ma servew g˙alxejn ˙lief biex jo˙olqu d-diΩgwid. U qed ikollna spiΩa kapitali o˙ra fuq da˙la tal-Belt u teatru bla saqaf hemm li anki l-aqwa sostenituri tal-gvern qed jg˙idu bla tlaqliq li hi ˙ala ta’ flus. Minkejja dan kollu, l-aqwa miΩura li biha nistg˙u ntejbu l-kompetittività tal-pajjiΩ hi b’aktar investiment dirett ˙alli tal-anqas inla˙˙qu l-medja Ewropea b’mod sostenibbli. Element ewlieni f’din it-triq irid jing˙ata mis-settur pubbliku – ˙a©a li se tkun diffiçli bid-dixxiplini finanzjarji taΩ-Ωona ewro li se jkollna nsegwu. Tibqa’ allura l-istrate©ija li qed tissejja˙ wa˙da ta’ Ωvalutar intern, u li qed ti©i imposta b’mod estrem fuq il-Greçja u anki l-Portugall. Ji©ifieri li waqt li l-munita tibqa’ l-ewro, jitnaqqsu bil-kbir l-ispejjeΩ pubbliçi u jinΩamm


Il-Prim Ministru Gonzi u Renzo Piano jammiraw id-disinn ta’ Bieb il-Belt – 2011.

brejk fuq is-servizzi soçjali u fuq il-pagi... jew addirittura jitqaççtu. Teknikament, ma hemmx triq o˙ra... g˙alkemm di©à ˙ar©et evidenza konkreta li strate©ija b˙al din mhix se tkun effettiva biΩΩejjed biex tistimola l-kompetittività ta’ ekonomija.

MHUMIEX JINTQALU LILL-POPLU MALTI

FiΩ-Ωmien li ©ej, il-pressjonijiet biex jitnaqqsu l-livelli tal-pagi u tas-servizzi soçjali se jkunu qed jiΩdiedu fuq il-gvern Malti, ikun hemm min ikun hemm fil-gvern. Di©à meta ©ie fformulat il-patt ewro plus, ir-reviΩjoni tal-paga minima kif issir kull sena f’Malta mal-ba©it tpo©©iet fuq l-a©enda b˙ala punt problematiku. Se nkunu qed nisimg˙u aktar dwar das-su©©ett.


Fuq l-istess a©enda wkoll g˙ad jitpo©©ew is-sistemi ta’ pensjonijiet, l-istipendji tal-istudenti u l-iskemi ta’ sa˙˙a b’xejn, inkluΩi fl-isptarijiet. Se jintqal li ming˙ajr tqasqis qawwi, dawn is-sistemi mhux se jkunu vijabbli fi ˙dan is-sistema tal-ewro. Altru milli se jing˙ata widen g˙at-talba tal-Caritas biex tiΩdied il-paga minima ˙alli tilqa’ g˙all-effetti dejjem jiΩdiedu tal-faqar. Di©à minn ta˙t, ˙afna li jafu lejn xiex resqin qed iqisu l-proposta tal-Caritas b˙ala çajta tajba. Hu dnub li dawn l-affarijiet mhux qed jintqalu lill-poplu Malti, ˙alli jkun jaf g˙al xiex da˙al, u x’inhu riesaq lejh. Minflok hekk, bla dubju ta’ xejn, fil-©img˙at li ©ejjin se nassistu g˙al weg˙di elettorali bla qies mill-gvern bl-uΩu s˙i˙ tal-power of incumbency li g˙andu u li lest juΩa bla skruplu. Se nassistu g˙al Ωieda fin-nefqa rikorrenti li tin˙eba kemm jista’ jkun min˙abba l-fatt li m’g˙andniex, kif di©à semmejt, sistema ta’ accruals suret in-nies fil-finanzi pubbliçi. Imbag˙ad, it-ta˙wid li jkun sar u d-defiçit li jkun kiber minflok naqas, jit˙abbar wara l-elezzjoni... U miΩuri ©odda u aktar iebsa, bil-bidliet fondamentali li j©ibu mag˙hom fil-mudell soçjali Malti, jit˙abbru f’dak il-waqt. Din hi d-diΩonestà politika li l-poplu Malta dara jara u sa issa aççetta. Jiena nawgura li ma jer©ax jag˙milha fl-elezzjoni li ©ejja wkoll. Xorta wa˙da, quddiem l-esi©enzi ©odda li qed jitpo©©ew fuq it-t˙addim tal-ba©it tal-gvern, id-dmir tag˙na f’dal-Parlament hu li ng˙idu l-verità kif inhi, biex il-poplu jkun jaf. U d-dmir tag˙na wkoll hu li nifhmu kif l-g˙odod li bihom ji©u prospettati, jit˙addmu u ji©u skrutinjati l-ispejjeΩ li jag˙mel il-gvern, g˙andhom jitjiebu minnufih. Inkella se nibqg˙u de˙lin fi triq li tpo©©i piΩijiet akbar fuq il-poplu


ming˙ajr ma toffrilu baΩi g˙al titjib ekonomiku sostenibbli minn fejn ikunu jistg˙u jinbnew impjiegi sodi. M’a˙niex sa issa maqbuda fit-tnalja li nqabdu fiha l-Greçja u l-Portugall. Imma min jemmen li m’a˙niex naffaççjaw problemi simili g˙al tag˙hom, qed jg˙ix fis-s˙ab. IΩ-Ωmien g˙all-blaff u l-kompjaçenza spiçça, anki jekk se nibqg˙u narawhom jit˙addmu sal-elezzjoni li jmiss. Il-mod kif inbidlu nkiss inkiss il-miΩuri li dal-Parlament approva g˙all-ba©it tas-sena �01� hu l-aqwa turija ta’ dil-˙a©a.

(Minn intervent fid-dibattitu tal-Parlament Malti dwar abbozz ta’ li©i nru 94 li timplimenta l-miΩuri tal-ba©it g˙as-sena 2012 – 28 ta’ Marzu

2012)

Euro options: federalize or downsize 189

10

EURO OPTIONS: FEDERALIZEOR DOWNSIZE

Never have the political stakes attached to European construction been so high, surely not since the sixties of the past century. Increasingly they are being played out in economic and social terms. So people are not noticing what is going on, till events explode into political reality. Such is the case in Malta. Till the euro issue comes to the boil here, we still need to turn another corner or two. Meanwhile, we remain allergic to any review of European topics conducted in contemporary terms and stay frozen in the political logic dictated by the elites which promoted Malta’s accession to the EU in �003. Their determination is to brush aside any assessment which seems to even hint that many of the economic pluses they promoted to justify Malta’s accession to the EU have not materialized. So today, any discussion that takes realistic stock of the options available to Malta as part of the euro zone, is dismissed as eurosceptic. Yet, I am astonished by the resigned acceptance I meet on right and left at the idea that

189


for instance, the loans being extended to Greece will end up in smoke. Still, one thing has become certain. The problems of the euro zone do not arise simply from Greece’s “irresponsible” financial policies. Nor do they result solely from equally improvident approaches followed in Ireland, Portugal, now Spain and who else next? (Do not exclude the possibility that post the coming elections, no matter who wins, this country will be in the line of those pilloried for their lack of prudence.) True, during the past four months, much of the financial turmoil that characterized Europe during �010 and �011, calmed down. This happened while awareness grew that Greece will not be able to meet the targets defined by her euro zone paymasters and the IMF; that Portugal and Ireland will also be having problems to satisfy the short term targets set to reduce their budget deficits; that Italy will encounter difficulties to streamline its debt overhang; and that Spain’s problems, consistently underestimated, are reaching flash point.

TWO CAUSES

Analysts reacted to the day to day movements of stock and bond markets by proclaiming that the euro crisis was over or close to. Government leaders and eurogroup spokespersons encouraged this feeling – which is what they are paid to do. However, what counts is the underlying trend regarding how economies and government budgets shape up... even if one puts between brackets, the effects of such events as the French presidential elections, among others. Basically there were two causes for the easing of


concern about the euro zone. First the European Central Bank pumped funds at extremely low interest rates into European banks, for well over a trillion euros. Bending its own rules, the Bank successfully quashed fears that the European banking system would collapse under the stiff write down decreed by German Chancellor Merkel – and endorsed by euro zone leaders – of the loans made to Greece by the private sector. Secondly, there was the swift progress (two months) in implementing another decree set by Chancellor Merkel: that all euro zone members and those other EU member states that were prepared to join in, would adopt a fiscal pact. Under it, all signatories pledge to keep their budget in balance or surplus, according to common rules, while submitting themselves to budgetary oversight and control from Brussels. They will write consequent financial rules into their constitution or pass legislation having equivalent effect. That the sovereignty of member states will be seriously breached is evident. How member states will deal with the tensions that will follow could become another European soap opera in coming years. However, just as significant will be the economic impact of what is being proposed. A curious consequence of the fiscal pact will be to subject economic and financial performance under a free market system to legislation. Such a coupling of economic management and legislative decree has never succeeded. Perhaps the euro zone will succeed. I am doubtful.

STRUCTURAL MISMATCHES

However, there is a more serious problem. The different economies within the euro zone are inherently mismatched.


By way of structure, performance, level of development, governmental outreach and social policy commitments, they continue to follow diverging paths. Yet they will be subjected to uniform guidelines regarding how to be managed. No mechanisms are being envisaged to ensure that financial transfers will apply to support states/regions which are trailing as they implement the inflexible rules of the pact. Under such conditions, the fixed exchange rate operative through the euro zone and the absence of a central, “federal” budget of any significance mean that states/regions which fail to cope will have to adjust in one of two ways: either they will be obligated to leave the zone; or they will have to undergo – which is what is happening at present – some form of “internal” devaluation. How does the latter happen? By straight reduction in wage levels, in social security pay outs, in pensions, in the levels by which government “subsidizes” health care and education provision, and so on. There can hardly be a more painful process, politically and socially. In its most recent assessment of the Greek situation, prior to extending further loans to Greece, the IMF considered the impact of the two scenarios: exiting the euro zone and “internal” devaluation. Of that report, Box � “Greece: Potential Economic Impact of Euro Exit” and Box 3 “International Experience with Internal Devaluation” should be made obligatory reading. There can be no doubt that “internal” devaluation has horrendous consequences for the population involved. The IMF observes that “internal devaluations are almost inevitably associated with deep and drawn out recessions, because fixed exchange rate regimes put the brunt of


adjustment on growth, income and employment... Restoring competitiveness by way of internal devaluation has proved to be a difficult undertaking with very few successes.” No wonder the suicide rate in Greece has ballooned. Nor does the IMF report gloss over the impact of Greece leaving the euro zone. It claims that “post-exit, Greece’s external debt burden would soar, making a default inevitable”. For political reasons, Europe has been loaded with a deficient economic and financial model. Its weaknesses are magnified by the central role in economic affairs now being played by global financial markets. To counter this problem, the fiscal pact that is being bulldozed through Europe is another political strait jacket that at this moment fits the worldview and interests of Germany, and practically nobody else. The pact is neither fish nor fowl. It does not amount to federalization of the zone, around a central budget that could automatically transfer funds to regions that lag hard behind others. Nor does it allow for flexibility in the case of states/regions whose economic performance diverges widely from that of top performers.

TWO OPTIONS

While the euro zone is a political construct, a solution to its problems can only be reached by political decisions that take full account of economic logic, in which globalization now weighs overridingly. That logic leads one to conclude that the political choice that looms is between one of two options: either the euro zone goes federal; or it is acknowledged that the political targets that have been set


are counterproductive at the present stage and the euro zone is scaled down. The first option is the one preferred by the dominant elites who have always insisted that the way forward is “more Europe”. However all over Europe including Malta, this has led to a situation where �0 per cent of the population reap most of the benefits while the remaining 80 per cent feel left out or squeezed. Middle middle and low income earners are carrying more and more of the burden. No wonder that this is serving to energize the extreme right. The other option – that of downsizing the euro zone – would require a lot of courage, which is a political not an economic variable. Nobody likes to front policies which seem to reverse the “achievements” of long years. And there is the assessment made by the IMF about the disruption that would be caused by one or more of its members exiting the euro zone. Yet, how persuasive is this point? Hardly more than two years ago, it used to be said that were Greece to default on its private sector debt, a full collapse of the European banking system could ensue. Since then, Greece has defaulted on its private sector obligations in a big way. Yet, because there was a political will, the whole process was on the whole, admirably managed and no large scale disruptions occurred. So it is difficult to understand how, given the political will, the same could not be organized for an exit from the euro zone by one or a number of its members. Increasingly, it is emerging that this could be the best option, even if the dominant political elites will find it difficult to accept. They would have to downscale their designs for “more Europe” which are proving to be unstable


and unwieldy. Meanwhile, beyond the cosseted world of the elites, huge masses of people are fed up with being sidelined and made to carry the burden of sacrifices. A well managed downsizing of the euro zone would contain the advances of the extreme right in Europe by preventing it from appearing as the sole real defender of the interests of ordinary people. Moreover, it would focus political attention on the need to make European structures really fit with the continent’s deep identity. However as of now, the best forecast is that a truncated federalism via the imposition of “balanced” budgets will remain the main item on the agenda. It will mean the imposition of more austerity across Europe, especially in a scenario where economic growth remains problematical. Here in Malta, we should be tooling up strategies to help us cope with these developments, which we cannot really influence. Are we doing so?

(The Malta Independent on Sunday, 29 April 2012)


11

BEJN ATENI U PARIÌI

B˙al-lum ©img˙a, is-Soçjalista François Hollande ©ie elett President ta’ Franza. Fl-istess jum, inΩammu l-elezzjonijiet ©enerali tal-Greçja. IΩ-Ωew© partiti l-kbar – is-Soçjalisti tal-PASOK u l-konservattivi tad-Demokrazija Ìdida – qalg˙u taptipa kbira. Bejniethom ©abu anqas minn 44 fil-mija tal-voti u anki flimkien ma setg˙ux jifformaw gvern. Mill-©did, il-qag˙da tal-ewro kkomplikat ru˙ha bil-kbir. Fl-a˙˙ar xhur, ̇ afna ttamaw li l-ewro re©a’ stabbilizza. Il-Bank Çentrali Ewropew ˙are© aktar minn triljun ta’ ewro f’self b’img˙ax baxx ˙afna lill-banek Ewropej. B’hekk setg˙u jilqg˙u fost o˙rajn, g˙al meta l-Greçja qaççtet id-dejn li tellg˙et fis-snin ta’ qabel ma’ dawk li kienu sellfuha bla raΩan. U ©ie konkluΩ patt fiskali, li bih il-gvernijiet membri taΩ-Ωona ewro ftiehmu kif issa, b’mod tassattiv, mhux se j˙allu d-defiçit fil-finanzi tag˙hom jaqbeΩ çertu limitu.Wara dal-patt fiskali, il-perçimes kienet il-Kançillier ÌermaniΩa Merkel. Mag˙ha, jag˙tiha palata kbira, kellha lil Nicholas Sarkozy li tilef l-elezzjoni ta’ ©img˙a ilu.

196

Bejn Ateni u Pari©i 197

IL-PATT FISKALI KKRITIKAT

Il-president FrançiΩ ©did ikkritika bil-kbir il-patt fiskali. Qal li mhux lest jiffirmah fil-forma preΩenti tieg˙u. Stqarr li l-patt se jkun qed iwettaq biss l-awsterità fl-Ewropa – se jΩid il-piΩijiet soçjali u jnaqqas il-benefiççji, waqt li jag˙fas ˙alli l-pagi tal-˙addiema jitnaqqsu. Hollande sostna, u mieg˙u s-soçjalisti Ewropej u bosta ekonomisti, li mhux biss dan kien inaççettabbli soçjalment, imma kien ukoll qed jag˙ti riΩultati ekonomiçi ˙Ωiena. L-awsterità wa˙idha, ming˙ajr miΩuri favur ˙idma ekonomika akbar li ssa˙˙a˙ l-impjiegi u to˙loq il-kummerç, se tispiçça tag˙mel il-problemi tal-ewro ag˙ar milli di©à kienu. F’daqqa, b’Hollande f’Pari©i jinsisti g˙al miΩuri favur it-tkabbir ekonomiku aktar milli jag˙fsu fuq l-awsterità, il-mutur Franko-ÌermaniΩ li sa issa dderie©a l-protezzjoni tal-ewro xxaqqaq bil-kbir. Kienu jsej˙ulu Merkozy – f’g˙aqda bejn l-isem ta’ Merkel u Sarkozy... u Merkel donnha spiççat wa˙idha. Minn Berlin bdew jg˙idu li lesti jiddiskutu miΩuri li jippromwovu l-investiment u t-tkabbir ekonomiku. Imma mhux se jaqblu li fil-patt fiskali g˙andhom jiddg˙ajfu l-miΩuri ma˙suba biex jikkontrollaw il-˙ofor finanzjarji fil-ba©its tal-gvernijiet.

IL-VOT TAL-GRIEGI

Fil-Greçja, it-taqliba dehret akbar milli fi Franza. Jekk tikkalkola kif ivvotaw il-Griegi, jidher sew li hemm ma©©oranza kontra t-tkomplija tal-miΩuri ta’ awsterità li fnew il-qag˙da soçjali ta’ ˙afna familji. Fit-tieni post, ©ie partit ©did tax-xellug jismu SiriΩa, li hu g˙alkollox kontra l-miΩuri imposti fuq il-Greçja miΩ-Ωona tal-ewro biex


tkun tista’ ting˙ata s-self li qed iΩommha fil-wiçç. SiriΩa wkoll ing˙ata l-inkarigu jara jistax iwaqqaf gvern. Imma anki hu ma setax jag˙mel hekk. Fost dawk li qed jg˙idu b˙alu li je˙tie© jitne˙˙ew il-miΩuri imposti fuq il-Greçja, hemm partiti tal-lemin estrem li mag˙hom SiriΩa ftit jista’ ja˙dem. Insomma, il-qag˙da politika fil-Greçja t˙awdet bil-kbir. Dil-©img˙a, l-Ewropej g˙addew parti o˙ra mis-self li wieg˙du li se jag˙mlu lill-Greçja. Kellhom jg˙adduha kontra qalbhom, biex ma j˙awdux il-bejg˙a aktar milli hi di©à. Qed jintqal li se jkollha ssir elezzjoni o˙ra fil-Greçja. Dan ma tantx jawgura tajjeb g˙all-ekonomija Griega, li g˙andha bΩonn tirpilja sew jekk il-pajjiΩ se jfiq f’qasir Ωmien. Imbag˙ad hemm fattur ie˙or li dil-©img˙a ̇ abat jintesa: il-qag˙da fi Spanja. Fl-a˙˙ar ©img˙at xtered pessimiΩmu kbir dwar fejn sejjer dal-pajjiΩ. Sa˙ansitra, il-Prim Ministru Rajoy, li ftit ilu fil-kariga, ©ie mixli li qed jin˙eba min-nies u qed i˙alli lill-ministri tieg˙u jitkellmu g˙alih. Quddiem l-awsterità li baqg˙et tit˙addem u quddiem il-konkluΩjoni li din mhix twassal g˙al riΩultati siewja, il-gvern ta’ Rajoy di©à tilef kull popolarità li beda biha. Sadattant, il-qg˙ad, l-aktar fost iΩ-Ωg˙aΩag˙, baqa’ jiΩdied biex jil˙aq livelli rekord dejjem og˙la. Beda jintqal fil-miftu˙ li Spanja m’g˙andha l-ebda tama li til˙aq il-miri li qed tpo©©i biex tnaqqas id-defiçit tag˙ha. Dan ukoll qed ikompli jikkonferma l-argument “ta’ Hollande” li l-awsterità wa˙idha ma tista’ twassal imkien, anzi se ΩΩid il-problemi. Sa issa, Merkel baqg˙et targumenta li jekk iΩ-Ωona ewro twarrab il-˙tie©a li qabel kollox jitwittew il-˙ofor fil-finanzi tal-gvern, se mmorru mill-˙aΩin g˙all-ag˙ar.

Bejn Ateni u Pari©i 199

ID-DUBJI ÌERMANIÛI

Lilha ma tistax tag˙tiha tort li titkellem hekk. Ekonomisti mag˙rufa fil-Ìermanja u barra qed jg˙idu kemm g˙andha ra©un. Fuq kollox, fil-qasam politiku ÌermaniΩ mix-xellug g˙al-lemin, forzi qawwija qed jg˙idu: il-Ìermanja m’g˙andha tid˙ol fl-ebda triq li tista’ twassalha biex hi tkompli t˙allas waqt li ˙addie˙or ikompli ja˙li. Ninsabu mdendla f’nofs din l-inçertezza. Kul˙add b˙alissa, inkluΩa l-Kummissjoni Ewropea bil-President tag˙ha Barroso, qed jg˙id li l-awsterità g˙andha titmexxa fl-istess nifs ma’ politika li tinkora©©ixxi t-tkabbir ekonomiku, u allura l-impjiegi u n-negozju. Imma fil-verità, dwar kif dil-˙a©a g˙andha ssir, ftit li xejn hemm qbil jew ideat ©odda. Fost il-proposti li qed isiru, b˙al mill-Prim Ministru Taljan Monti li darba kien hu nnifsu Kummissarju Ewropew, hemm dik li s-swieq Ewropej isiru aktar kompetittivi, inkluΩ is-suq tax-xog˙ol. Trejdjunjonisti Ewropej jafu dan xi jfisser: tnaqqis tal-protezzjoni soçjali u tal-livelli tal-pagi... jew forma o˙ra ta’ awsterità! Jissemmew investimenti ©odda fl-infrastruttura li mbag˙ad i©ibu mag˙hom aktar ˙idma ekonomika u aktar impjiegi. Biss, minn fejn se ji©u l-flus g˙alihom? Il-gvernijiet ftit g˙andhom fondi g˙al-lest u ftit jistg˙u jissellfu aktar. Proposta li l-Bank Çentrali Ewropew g˙andu jiggarantixxi fond li minnu jkunu jistg˙u jsiru investimenti pubbliçi ©odda qanqal mill-©did iç-ça˙da ta’ Merkel. Il-Ìermanja targumenta kontra kull miΩura li biha l-Bank Çentrali Ewropew jispiçça jillaxka mill-proçeduri li bihom jassigura tmexxija prudenti tal-finanzi pubbliçi. Jekk jag˙mel dan, jibdew jog˙lew il-prezzijiet u


mew©a ©dida ta’ sta©nar u inçertezzi ekonomiçi tolqot lill-Ewropa. Bl-istess mod, il-Ìermanja – sa issa tal-anqas – g˙adha tirreΩisti proposta o˙ra, li Hollande u Monti jaqblu dwarha: dik li jin˙ar©u çedoli ta’ self garantiti b’mod komuni g˙aΩ-Ωona ewro (euro bonds) fejn jipparteçipaw il-pajjiΩi kollha taΩ-Ωona u jkunu jistg˙u juΩawhom biex jiffinanzjaw il-pro©etti tag˙hom. F’hekk ukoll, il-Ìermanja tara t-triq lejn diΩastri ©odda ta’ flejjes sparpaljati. Biss, l-ista©nar u l-inçertezzi ilhom issa jobormu bil-qawwa madwar iΩ-Ωona ewro... Xi ˙a©a trid issir.

REALTÀ OÓRA

F’dawn il-jiem, Hollande u Merkel mistennija li jkollhom l-ewwel laqg˙a tag˙hom. G˙alkemm Hollande g˙andu s-suççess elettorali li kiseb biex jixprunah, hemm realtà o˙ra li mhux se jkun jista’ ja˙rab. Franza b˙all-pajjiΩi l-o˙ra kollha taΩ-Ωona ewro qed tg˙um f’ba˙ar ta’ ekonomija globalizzata. Kollox jitmexxa skont ir-regoli tan-neo-liberaliΩmu msejjes fuq is-suq ˙ieles. U l-ekonomija u l-finanzi pubbliçi ta’ Franza mhumiex g˙addejja b’nifs qawwi. Malajr, Franza wkoll tista’ ssib ma’ wiççha kontijiet dejjem telg˙in biex t˙allas lura l-img˙axijiet fuq id-djun tag˙ha. Wie˙ed u tletin sena ilu, f’çirkostanzi differenti, kien tela’ President ta’ Franza François Mitterrand, li wieg˙ed li se jwettaq programm soçjalista bla kompromess. Hekk g˙amel, b’nazzjonalizzazzjonijiet u riformi soçjali impressjonanti. Imma f’qasir Ωmien, is-swieq finanzjarji, li dakinhar ma kellhomx il-qawwa li g˙andhom illum, ©abu lil Franza g˙arkupptejha. Mitterrand kellu jaqleb il-programm tieg˙u ta’ ta˙t fuq.

Bejn Ateni u Pari©i �01

Nemmen li Hollande llum ma jridx jinqabad fl-istess nassa. Sadattant, fejn jidher li hu u Merkel Ωgur g˙andhom jaqblu jirrigwarda miΩura g˙al taxxa ©dida fuq in-negozji finanzjarji. Jintqal li dil-miΩura sservi biex il-banek u l-istituzzjonijiet simili jibdew i˙allsu taxxi fuq in-negozju (transazzjonijiet finanzjarji) tag˙hom, b˙alma ji©ri f’oqsma o˙ra tal-ekonomija. Wara kollox, il-banek u istituzzjonijiet finanzjarji kienu l-fus tal-kriΩi ekonomika li ilha tiddomina x-xena sa mis-sena �008. Ma jag˙milx sens li huma biss jibqg˙u ˙ielsa minn kull taxxa fuq il-˙idma tag˙hom. Jintqal ukoll li taxxa ©dida fuq it-transazzjonijiet finanzjarji to˙loq fondi ©odda biex jintuΩaw g˙al skopijiet ta’ tkabbir ekonomiku. Dwar dal-punt fl-Ewropa qed jaqblu kemm soçjalisti u kemm liberali-konservattivi.

BUÛILLIS

Minn dil-biçça jqum buΩillis kbir g˙al pajjiΩna. Kif re©a’ wera r-rapport fuq Malta li l-Fond Monetarju Internazzjonali ˙are© dil-©img˙a, is-settur finanzjarju sar l-aktar wie˙ed importanti g˙al Malta. Minnu li ̇ iere© it-tkabbir ekonomiku li jifta˙ar bih il-gvern tal-lum. Sadattant, il-banek Maltin sa issa skansaw mill-kriΩi taΩ-Ωona ewro mhux g˙ax ninsabu fiha (kif jifta˙ar il-gvern!) imma g˙ax kemm il-gvern innifsu u kemm huma jiddejnu u jisilfu l-aktar fis-suq Malti, çkejken kemm hu çkejken. Ma jdendlu kushom ma’ ˙add aktar. Issa, jekk tid˙ol dit-taxxa fuq it-transazzjonijiet finanzjarji li jridu Merkel u Hollande u Monti, fost o˙rajn, il-biΩa’ hu li s-settur finanzjarju ta’ Malta (b’assi li ji©u aktar minn tmien darbiet u nofs id-daqs tal-ekonomija Maltija)

�0� MALTA u l-ewro/& the euro (2)

jaqla’ daqqa. Fl-a˙˙ar xhur, flimkien mal-Ingilterra, l-IΩvezja u l-Lussemburgu, Malta kienet qed titkellem kontra d-d˙ul ta’ dit-taxxa finanzjarja. Imma l-Ingilterra u l-IΩvezja mhumiex membri taΩ-Ωona ewro. Il-pressjoni se tiΩdied biex, jekk din it-taxxa ma tid˙olx fl-Unjoni Ewropea, almenu g˙alissa, tidda˙˙al fiΩ-Ωona ewro. Dwar dil-biçça, il-gvern Malti tkellem ftit li xejn fil-pubbliku hawn Malta. Hi ˙a©a çara li l-wasla ta’ Hollande fil-presidenza ta’ Franza se ΩΩid fil-pressjoni politika biex isir sforz qawwi ̇ alli jilqa’ g˙ad-diΩappunt kbir li xtered fost il-popli Ewropej. Is-sentiment qed jiΩdied li l-Ewropa qieg˙da hemm biex tpaxxi lil ftit privile©©ati dominanti (elites) li jla˙˙qu xi �0 fil-mija tal-poplu, waqt li l-bqija qed ikunu mistennija li j©orru l-piΩijiet u joqog˙du kwieti. Óafna mhux qed jag˙mlu hekk aktar. Qed iduru lejn il-partiti estremisti. Fl-elezzjonijiet tal-Greçja u Franza, dawn il-partiti kisbu Ωieda kbira fil-voti tag˙hom. Imma din mhix problema li qed tolqot lil dawn iΩ-Ωew© pajjiΩi biss jew lil Spanja. Rapport dwar il-Portugall tal-Kummissarju g˙ad-Drittijiet tal-Bniedem tal-Kunsill tal-Ewropa jg˙id hekk: il-miΩuri ta’ awsterità mda˙˙la fil-Portugall sena ilu b˙ala parti mis-self ta’ 78 biljun ewro qed jaffettwaw ˙aΩin u bil-kbir id-drittijiet tal-aktar çittadini vulnerabbli fil-pajjiΩ – it-tfal, ix-xju˙ u Ω-Ωingari. �0 fil-mija tal-anzjani u tat-tfal PortugiΩi llum jinsabu fix-xifer tal-faqar waqt li l-qg˙ad fost iΩ-Ωg˙aΩag˙ la˙aq iç-çifra ta’ 34 fil-mija. Óadd ma g˙andu jiççassa quddiem dan l-isfre©ju li baqa’ jiΩdied fiΩ-Ωona ewro. Jikkonçerna lilna l-Maltin u l-G˙awdxin daqskemm jikkonçerna lil ˙addie˙or. Irridu nie˙du poΩizzjoni. Il-munita tal-ewro hi wkoll il-munita

Bejn Ateni u Pari©i �03

nazzjonali ta’ Malta, dik li kellha dda˙˙al fostna, skont il-Prim Ministru Gonzi, Ωmien ©did u favoluΩ ta’ stabbiltà liema b˙alha. U ©ara bil-maqlub.

(It-Torça, 13 ta’ Mejju 2012)


12

ROADS: MANAGEMENT À LA MALTAISE

Year after year we are told about the need to improve productivity. Yet we tolerate administrative practices that are obviously not working well. Indeed, these practices are defended as dogmas forming part of some divinely revealed truths, not to be questioned or challenged. For example: ***Privatisation has worked wonders to instill efficiency; ***EU funding has boosted the selection, planning and running of new essential projects. By contrast, the need to improve productivity has been reduced to a mantra, repeated at bankers’ dinners and “business” breakfasts. The chant, usually co-ordinated by the Central Bank, proclaims that productivity gains will happen when wage growth is successfully curtailed and social spending braked. Nothing else matters. But it is obvious that other factors are also involved in the productivity stakes. They impact sectorally or through the economy as a whole. They result from the way we do

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Roads: management à la Maltaise �05

things. Even if they get ignored in the statistical outturn, such factors are felt by citizens in their everyday lives as a source of concern, cost, worry, delay what have you.

PLANNING ROAD WORKS

Road works are a case in point. Year after year they cause huge difficulties for people and businesses. These cannot be simply blamed on too much traffic on the roads. Planning, management and implementation of road building projects are a major part of the problem, especially when cost overruns occur and/or the completion of projects becomes subject to huge postponements. Actually, completion dates planned for local projects that by European standards are puny in scale, would be more appropriate for works requiring major feats of trans-Alpine engineering. Many wonder why doing up a strip of road less than three kilometers long needs a planned timeframe of a year or more at least, never mind that it then gets completed even later than planned. At present, we are witnessing a road works scenario that has reached a new climax of disruption. In the north of Malta, the arterial road that leads to the Gozo ferry is being redone. Similarly in the “south” of Gozo, connecting with the ferry. The complications this has caused at Mellie˙a have been well publicized. Less so, the problems for commuters and commercial traffic between Malta and Gozo: travel time has been increased by between 30 to 45 minutes. The question arises: did these two projects which are taking an eternity to finish need to be done at the same time? I know that part of the stock reply is that due to the requirements of EU funding procedures, the same datelines


had to be set for projects to modernize our arterial roads. Even so, could not this have been taken into account at the planning stage? When during question time in Parliament on 15 May (�01�), I asked about this, infrastructure and communications minister Gatt gave a pretty articulate reply. He argued that the planning process was in his view well run even if the implementation phase could be criticized in certain points. Here is the gist of how he explained matters: EU funds for doing up roads come under the so-called Ten-T pan-European programme which targets major arterial highways across Europe. Funds under the programme can only apply in Malta to the Rabat-Im©arr link in Gozo and the Çirkewwa-Freeport arteries, thus limiting the areas where works can be launched. Moreover, such works can only be carried out during the period for which EU funds are available, subject to the respect of EU programme procedures, and after MEPA permits have been released. As a result, projects tend to come on stream all at once. Moreover, Maltese tenders are too small to interest foreign contractors having superior human and technical resources to those held by Maltese counterparts. EU international tenders have been duly launched but there were no foreign takers. Meanwhile, the number of local contractors having the capacity to undertake road works amount to a maximum of five. They are all involved in a variety of works, sometimes winning two tenders at the same time. They tend not to have sufficient manpower or equipment. The Minister also argued that up to now, there have been minimal variations on the tender prices as set and agreed. In the circumstances, local contractors have no incentive


to postpone the completion date because this would simply mean they have to pay more wages for no return. To reduce the duration of contract works, “theoretically” contractors would have to invest in equipment that would be much more sophisticated than what they currently hold. But this would not be viable for them and even less so at the current stage of the process, since there would be no suitable return on such investment for what remains of road contracts. On “average”, road projects are assumed to take from 9 to 1� months, but these have had to be extended due to rainy weather, this year especially, and when works hit archaeological sites – for both of which occurrences,

Maltese road tenders are too small to interest foreign contractors.


contractors have to be allowed lee-way. End of explanation.

CHRONIC INEFFICIENCY

On the surface, it all sounds reasonable and down to earth. Look outside the box though, and troubling questions emerge. What we have here is a Maltese recipe for chronic inefficiency. Few may remember that public works were the first governmental activity to be privatized. It was done without fanfare but carried through determinedly as of 1987. Works that formerly used to be assigned to the Public Works Department were contracted out by tender to the private sector. That is what is done now across the line. The assumption has been that we are being better served. What the minister said disproves this. In reality what seems to have happened is that further diseconomies of scale have been injected into an already small-scale situation. In the official version we have today, the five contractors able to take up government tenders do not have the resources to give optimal results under conditions of “free” competition. Nor does it make sense for them to acquire these resources because returns on their investment would be unattractive. Would it therefore not make better sense to have just one organization catering for road and public works so that it could secure some measure of scale economies? Nor need this one “monopolistic” organization be necessarily publicly owned and run. Actually on public management, we are reminded all the time about the allegedly bad workmanship for which public works were responsible in the past. But


hello! Has it not been repeatedly shown in past years that private sector work too can be just as shoddy? The truth is that privatization of public works has not resulted in a more efficient outcome. The contrary may be the case. Yet it is outside the pale to bring up this point.

THE EU FACTOR

Consider now the claim that EU funding for public works projects has sharpened planning and implementation. The minister’s explanation indicates the opposite. First, EU funds can apply to Malta only with reference to the restricted context of a backbone of European road infrastructure whose parameters basically lie outside the Maltese reality. One can understand why – unless extra attention is deployed – local projects will tend to bunch together in time and space. Planners need to take into account the fact that EU terms of reference create complications for a small peripheral island, but they clearly lack the knowhow to compensate for such complications. Indeed, one-size-fits-all measures adopted at EU level continue to have a negative impact on the implementation of projects here. Secondly, we are going through the admittedly serious scrutiny and assessment procedures followed by the EU to award international contracts. Procedures are lengthy and take up valuable time within the calendar imposed by the EU budgeting system for the overall implementation of projects. Yet at the end, offers come only from well-known Maltese contractors. No outside European firms show any interest. So, on top of the diseconomies of scale imposed on us by size,


we undergo a European procedure for awarding tenders that leaves us with the same choice that a local tendering process would have triggered. A few local under-resourced contractors implement the contract, operating in a less than optimal fashion within a restricted time window. Incidentally, on an average basis, some 78 per cent of the EU payments for roads and other projects extended to Malta are counterbalanced by the payments Malta makes to the EU budget. Which makes another outcome of the whole approach as described by the minister even more worrying, though it did not seem to faze him. There exists an inherent disincentive to invest in up-to-date road works equipment because it cannot be economically viable. This all fits in with another feature of the Maltese economy in recent years, despite EU membership. Investment as a percentage of GDP has stayed invariably low – which is a major reason for low productivity over the same period, though it rarely gets mentioned by the Central Bank. Finally, one notes the official satisfaction at the claim that cost overruns have been practically eliminated on road works even if the same cannot be said for duration of works. Everybody seems to find it convenient to sweep under the carpet the point that too long a time horizon for works undertaken and then the extension of completion dates create real extra costs for the economy and society as a whole. The minister was being complacent when he claimed that contractors have no incentive to drag out the completion of works. I have heard contractors argue the contrary. From their perspective, what they said made sense. Delays encountered by citizens and businesses when carrying out their tasks on a day to day basis, the extra

Roads: management à la Maltaise 211

consumption of fuel in cars having to follow lengthy deviations, the resulting pollution and other factors imply economy-wide costs. We seem not to notice this. One reason is that a real improvement in how road building is managed à la Maltaise would require among other things, a radical re-examination of the role of privatization and of the implementation of EU one-size-fits all approaches to Malta. Too many strong vested interests would rebel against that option.

(The Malta Independent on Sunday, 27 May 2012)


II. GOVERNANZA EKONOMIKA/ECONOMIC GOVERNANCE

Ìunju – Diçembru 2012/June – December 2012

Jin˙ema att ©did fis-saga tal-ewro �15

13

JINÓEMA ATT ÌDID FIS-SAGA TAL-EWRO

Fl-ewwel tliet xhur ta’ dis-sena kien hemm min ̇ aseb li forsi l-mexxejja taΩ-Ωona ewro beda jirnexxilhom jikkontrollaw il-problemi li tul l-a˙˙ar snin fnew lill-membri taΩ-Ωona u l-munita nazzjonali tag˙hom, l-ewro. Patt dwar it-tmexxija fiskali, imnebba˙ mill-Ìermanja, b’kundizzjonijiet iebsa li jorbtu l-gvernijiet kollha taΩ-Ωona dwar kif g˙andhom jamministraw il-ba©its tag˙hom, ©ie maqbul fi Ωmien rekord. Il-Bank Çentrali Ewropew immexxi mill-president ©did tieg˙u Mario Draghi ˙are© triljuni ta’ ewro f’self ir˙is lill-banek Ewropej biex jag˙tihom in-nifs. Ta˙t il-gvern “teknokratiku” ta’ Mario Monti, l-Italja donnha kienet qed ter©a’ tikseb il-fiduçja tas-swieq finanzjarji. Ma damitx iΩda ma re©g˙et qamet klima ta’ t˙assib. Fuq quddiem nett, ja˙ti g˙al dan kien il-fatt li l-ekonomiji kbar u Ωg˙ar tal-Ewropa baqg˙u f’qag˙da mwieg˙ra: bil-qg˙ad jiΩdied; b’talba g˙all-prodotti u s-servizzi li qed tmajna; b’rata ta’ tkabbir ekonomiku tonqos sew jew addirittura b’ekonomiji li qed jiçkienu.

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L-AWSTERITÀ

Óadu aktar sa˙˙a argumenti kritiçi li kienu ilhom isiru tul l-a˙˙ar sentejn... u li ddiskutejniehom kemm-il darba fil-kolonni ta’ It-Torça. Il-politika ta’ awsterità... tal-issikkar taç-çinturin... li l-gvernijiet tal-ewro segwew biex iraΩΩnu l-˙ofra fil-ba©its tag˙hom, aktar servew biex ixekklu l-ekonomiji u komplew iΩidu l-piΩ tad-djun. Madankollu, bil-Kançillier ÌermaniΩa Merkel fuq quddiem, il-pressjoni nΩammet qawwija biex pajjiΩi b˙all-Greçja, il-Portugall, l-Irlanda, l-Italja u Spanja jibqg˙u jistinkaw ˙alli jnaqqsu l-ispiΩa tag˙hom. Akkost ta’ kollox, kellhom i©ibu malajr malajr bilanç bejn d˙ul u ˙ru© fil-ba©it tal-gvern. B’hekk biss setg˙et ter©a’ titrabba fiduçja s˙i˙a fil-munita tal-ewro. Il-wasla ta’ François Hollande fil-presidenza ta’ Franza xaqqet din l-insistenza fuq l-awsterità. Franza llum qed tg˙id li se tiffirma l-patt fiskali biss jekk jidda˙˙lu mieg˙u miΩuri li ja©evolaw ˙idma ekonomika ©dida li tirranka l-bejg˙ u x-xiri, kif ukoll l-impjiegi. Waqt li ˙afna bdew jistqarru li l-inizjattiva ta’ Hollande kienet me˙tie©a, il-fatt li da˙al b˙al feles bejn il-Ìermanja u Franza, li bit-tmexxija ta’ Merkel u Sarkozy kienu Ωammu front mag˙qud, minnu nnifsu sar fattur ©did ta’ inçertezza. Ma’ dan ing˙aqad l-isfrattu Grieg. Ir-riΩultat tal-elezzjonijiet Griegi li nΩammu f’Mejju wera kemm il-poplu Grieg hu mxebba’ bil-politika ta’ awsterità. Sabu appo©© kbir partiti li prattikament qed jg˙idu li ma jridux i˙addmu l-miΩuri li Ω-Ωona tal-ewro u l-Fond Monetarju Internazzjonali imponew fuq pajjiΩhom ˙alli jqaççtu l-ispiΩa tal-gvern u ˙alli j˙allsu lura d-djun kbar li l-gvern Grieg tella’ matul is-snin. Fuq il-baΩi tar-riΩultati elettorali miksuba, ma seta’


jitwaqqaf l-ebda gvern ©did. U fi ftit tal-jiem o˙ra, se jkollha ssir elezzjoni ©enerali o˙ra fil-Greçja. Jirba˙ min jirba˙... u kien hemm çansijiet tajba li partiti li huma g˙alkollox kontra l-programm ta’ awsterità imposti fuq il-Greçja jirb˙u ma©©oranza... Ωdiedu bil-kbir id-dubji dwar kemm l-g˙ajnuna finanzjarja enormi mog˙tija lill-Greçja permezz ta’ self sejra twassal ximkien. Biex tkompli t˙awwar il-borma, intqal li r-riformi li l-Greçja suppost kellha tmexxi baqg˙u fl-ajru. Dil-˙a©a kompliet iΩΩid mal-polemika. B’mod miftu˙, beda ji©i diskuss su©©ett li sa ftit taΩ-Ωmien ilu kien tabù: il-Greçja se jkollha titlaq miΩ-Ωona ewro. L-ag˙ar ˙a©a – minkejja kulma jintqal – hi li xenarju b˙al dan awtomatikament se jqajjem il-prospett li malli l-Greçja to˙ro© mill-ewro, pajjiΩi o˙ra jit˙ajru jag˙mlu b˙alha. Mhux imbilli jsiru stqarrijiet qawwija biex jiç˙du dal-prospett. Id-dubji fost dawk li jmexxu s-swieq globalizzati tal-flus tqawwew. Ûdied id-diskors dwar kif iΩ-Ωona ewro g˙ad tista’ tisfaxxa – li kompla jiΩra’ d-dubji u l-inçertezzi.

IMISS LIL SPANJA

Kien inevitabbli li b’hekk se ji©u affettwati aktar dawk l-ekonomiji taΩ-Ωona ewro li jinsabu f’qag˙da vulnerabbli. Spanja sabet ru˙ha fil-qalba ta’ tempesta finanzjarja ©dida. F’dal-pajjiΩ – li wara l-Ìermanja, Franza u l-Italja ji©i l-akbar wie˙ed fl-ewro – mhux biss it-tkabbir ekonomiku sfaxxa u l-qg˙ad baqa’ tiela’ m’og˙la s-smewwiet fl-a˙˙ar snin. Imma bdew jo˙or©u fil-bera˙ problemi enormi ta’ tmexxija. Id-dejn nazzjonali kien qed jisplodi. Il-gvern lemini tal-Prim Ministru Rajoy, li ftit ilu reba˙ elezzjoni u tajjar min-nofs lis-soçjalisti fil-gvern, sab li minkejja l-weg˙di li


g˙amel lill-poplu Spanjol u lill-Kummissjoni Ewropea fi Brussell, mhux qed jirnexxilu jikkontrolla d-defiçit fil-ba©it tal-gvern. Minn Brussell raw kif se jtawlu Ω-Ωmien li fih Spanja kellha xxejjen id-defiçit tag˙ha u b’hekk jag˙tuha aktar nifs biex tin©abar. Malajr deher li dan mhux se jkun biΩΩejjed. G˙ax sadattant, ˙ar©u fil-bera˙ fatti ©odda dwar kif, fost affarijiet o˙ra, il-gvernijiet re©jonali tal-pajjiΩ kienu baqg˙u jonfqu u jissellfu bla raΩan. Fl-a˙˙ar mill-a˙˙ar, dawn il-piΩijiet kien se jispiçça j©orrhom il-gvern çentrali, anki jekk g˙all-ewwel ma ntwerewx fuq il-kotba tieg˙u. Minn hawn skattat kriΩi fost il-banek Spanjoli, li di©à kellhom it-tikketta ta’ banek li trid toqg˙od attent dwarhom. Kienu sellfu bil-kbir lill-gvernijiet re©jonali tal-pajjiΩ. U kienu wkoll sellfu bl-amment fi Ωvilupp tal-bini, li wara li ˙a spinta qawwija ’l quddiem fi Spanja, waqa’ Ωorba. Barra minn hekk, u˙ud mill-akbar banek baqg˙u marbuta ma’ partiti politiçi u d-diri©enti tag˙hom. Biex jibqg˙u fil-wiçç, dawn il-banek kienu lag˙bu fuq il-prospett li l-ekonomija Spanjola u dik tal-ewro se jer©g˙u jirrankaw. Dan baqa’ ma ©arax. G˙alhekk, il-kriΩi tal-finanzi tal-gvern Spanjol malajr issarrfet fi kriΩi tal-banek. Hekk kien ©ara di©à qabel f’pajjiΩi o˙ra, kemm barra u kemm ©ewwa Ω-Ωona tal-ewro. Il-gvern Spanjol kellu jara kif jag˙mel biex isostni l-banek, u dan meta l-˙ofra fil-finanzi tieg˙u stess kienet qed tikber. Qed ji©i kkalkolat li je˙tie© mal-100 biljun ewro biex il-banek Spanjoli jing˙ataw in-nifs u ma jikkollassawx. Il-problema hi minn fejn il-gvern Spanjol se jsib il-flejjes me˙tie©a. G˙all-bidu dan t˙ajjar jo˙ro© çedoli ©odda ta’ self, anki jekk b’hekk kien ikabbar bis-s˙i˙ id-dejn nazzjonali. Il-Bank Çentrali Ewropew xejn ma ˙a gost, g˙ax dan kien se


jfisser li l-banek Spanjoli jistg˙u jressqulu ç-çedoli ©odda tal-gvern tag˙hom u jsarrfuhom mieg˙u biex b’hekk ji©i hu li qed isostni t-telf tal-banek. Min-na˙a tag˙ha, kif kienet g˙amlet mal-Portugall, il-Ìermanja bdiet tag˙fas fuq il-gvern Spanjol ˙alli dan idur lejn il-fond li waqqfet iΩ-Ωona ewro, imsejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea, biex jag˙ti appo©© lill-gvernijiet li jkunu qed jaffaççjaw problemi finanzjarji kbar. Il-gvern ta’ Rajoy ftit g˙o©bitu l-idea. Fehem li arran©ament b˙al dan se jfisser ind˙il akbar minn Brussell u Frankfurt fit-tmexxija finanzjarja ta’ Spanja. Fl-istess ˙in, min˙abba d-daqs ta’ dan il-pajjiΩ, ˙afna bdew iqisu li l-fondi Ewropej g˙as-salvata©© finanzjarju se jkunu qed jitpo©©ew ta˙t pressjoni enormi jekk jintuΩaw biex jag˙tu wens lil Spanja. Id-dubji dejjem jinxterdu bdew jin˙assu fil-mod kif Spanja bdiet ti©i offruta rati ta’ mg˙ax dejjem og˙la meta tipprova tpaçi dejn li jkun qed jag˙laq, billi tie˙u self ©did. Jekk dil-˙a©a tibqa’ sse˙˙, kif Ωgur ji©ri jekk Spanja ma ssibx mod sodisfaçenti kif tiffinanzja l-g˙exieren ta’ biljuni ta’ ewro li je˙tie©u l-banek tag˙ha, l-img˙axijiet wa˙idhom isiru piΩ li l-pajjiΩ ma jkunx jista’ jifla˙.

IL-BANEK TAÓT IN-NAR

Biex tg˙axxaqha, id-diffikultajiet Spanjoli ˙abtu jirriflettu ˙aΩin ukoll fuq l-Italja fejn ir-riformi li kien wieg˙ed il-gvern teknokratiku ta’ Monti donnhom qed jittardjaw. Kien hemm mumenti fejn l-Italja sabet li, anki g˙as-self li kienet qed to˙ro©, l-img˙axijiet mitluba mis-swieq finanzjarji re©g˙u qed jitqalu wisq. Mill-©did, hekk kif il-kriΩi fil-finanzi tal-istati membri

��0 MALTA u l-ewro/& the euro (2)

tal-ewro saret ukoll kriΩi fis-sostenn tal-banek tag˙hom, qam id-diskors dwar il-˙tie©a li Ω-Ωona tal-ewro jkollha tmexxija ekonomika aktar mag˙quda. Il-patt fiskali wa˙du mhux biΩΩejjed; aktar minn hekk, tal-anqas hemm bΩonn ta’ g˙aqda bankarja. Il-President Draghi tal-Bank Centrali Ewropew li kien g˙eleb reΩistenza qawwija fi ˙dan il-Bank qabel setg˙u jin˙ar©u t-triljuni ta’ self bl-ir˙is lill-banek aktar kmieni dis-sena, ammetta li hemm bΩonn ta’ miΩuri ˙afna aktar qawwija. Draghi stqarr li bl-istrutturi tag˙ha llum, iΩ-Ωona ewro mhix sostenibbli: il-mexxejja tal-banek je˙tie©u qafas politiku u tekniku fuq baΩi Ewropea, ©did u aktar qawwi milli hemm b˙alissa, biex ikunu jistg˙u jie˙du miΩuri effettivi. Il-bankiera, qal, ma jistg˙ux jag˙mlu x-xog˙ol tal-politiçi. Il-Kummissjoni Ewropea malajr ˙ar©et xi proposti ˙alli jkun hemm sorvelja, kontroll u appo©© çentrali ©odda fuq il-banek Ewropej – ˙a©a li mhux kul˙add qed jilqa’ tajjeb. Sadattant, baqa’ jirrombla l-patt fiskali mwelled mill-Ìermanja. Nofs tuΩΩana pajjiΩi rratifikawh. Fosthom hemm l-Irlanda li organizzat referendum dwaru fejn, b’parteçipazzjoni baxxa ˙afna, mas-sittin fil-mija vvotaw favur il-patt. Sadattant ukoll, il-Kummissjoni Ewropea bdiet t˙addem bis-s˙i˙ il-proçeduri ©odda li dda˙˙lu s-sena li g˙addiet biex bihom tissorvelja u tikkore©i t-tmexxija finanzjarja tal-istati membri, anki billi tinda˙lilhom fil-politika li jkunu qed imexxu. Il-Kummissjoni ˙ar©et l-analiΩi u r-rakkomandazzjonijiet tag˙ha dwar dak li jinsab g˙addej. Kien hemm min innota li mal-pajjiΩi Ω-Ωg˙ar il-Kummissjoni dehret bil-wisq aktar iebsa milli kienet mal-kbar... speçjalment il-Ìermanja u Franza!

Jin˙ema att ©did fis-saga tal-ewro 221

Ter©a’, ftit g˙adu ©ie rrimarkat li g˙alkemm il-Portugall u l-Irlanda tqiesu li qed josservaw il-kundizzjonijiet iebsa ta’ “riforma” li ta˙thom ing˙ataw g˙ajnuna mill-Ewropej, x’aktarx li mhux se jirnexxilhom jil˙qu mal-miri tal-ftehimiet li da˙lu g˙alihom. Dwar il-Portugall, qed jintqal li x’aktarx se jkun hemm bΩonn ta’ ftehim ie˙or ta’ g˙ajnuna, g˙ax l-ekonomija PortugiΩa g˙otrot wisq bil-miΩuri ta’ awsterità li ttie˙du. Waqt li g˙al ra©unijiet simili, l-Irlanda qed tag˙mel pressjoni qawwija biex il-kundizzjonijiet tas-self ta’ biljuni ta’ ewro li ng˙atawlha, jit˙affu.

MALTA KIF SE TINTLAQAT B’LI QED JINÓEMA?

Kollox juri li qed jin˙ema att ©did fis-saga tal-ewro. In-nis©a baqg˙et tikkomplika ru˙ha u b’fatturi tant numeruΩi li Ωgur ma jistg˙ux jissemmew kollha hawn. B˙al pereΩempju, il-qag˙da politika interna fil-Ìermanja, fejn il-Kançillier Merkel qed iΩΩomm il-popolarità tag˙ha waqt li l-alleati politiçi tag˙ha waqg˙u lura, u fejn wara l-elezzjoni li jmiss, qed tikber il-probabbiltà li l-koalizzjoni fil-gvern tkun differenti minn tal-lum.

***

Matul dan kollu, il-gvern Nazzjonalista jittratta bl-akbar kompjaçenza kull mistoqsija dwar kif il-kriΩi tal-ewro tista’ taffettwa lil Malta. Veru li ftit li xejn jista’ jkollna xi influwenza fuq deçiΩjonijiet li jmissu bil-kbir il-munita nazzjonali tag˙na – u kien l-istess gvern li da˙˙alna f’dis-sitwazzjoni. Illum, Malta tinsab esposta b’impenji finanzjarji ta’ aktar minn biljun u mitejn miljun ewro g˙ad-difiΩa tal-ewro.


Fosthom hemm balla flus fl-g˙exieren tal-miljuni tal-ewro li tajna lill-Greçja u li ç-çansijiet kbar huma li se nitilfuhom. Imma se jinqalg˙u Ωviluppi akbar minn hekk fl-atti li jmiss tal-melodramm tal-ewro. Jekk titwettaq, l-g˙ajta ta’ unjoni bankarja g˙aΩ-Ωona ewro se taffettwa bil-kbir il-qasam tas-servizzi finanzjarji tag˙na, li hu bbaΩat ̇ afna fuq il-preΩenza tal-banek. Il-gvern jipprova ja˙bi dil-˙a©a, imma fl-a˙˙ar snin, biex iΩΩomm fil-wiçç u tikber, l-ekonomija Maltija stra˙et sew fuq is-servizzi finanzjarji (u s-settur tal-im˙atri bl-internet). Issa, bil-proposta ta’ unjoni bankarja Ewropea, l-ispazju biex Malta jkollha r-regolamenti tag˙ha dwar banek re©istrati f’Malta u biex hi tmexxihom kif jidhrilha li jkun l-a˙jar, x’aktarx li se jidjieq. U sal-lum, kienet il-possibbiltà ta’ regolamenti mfassla apposta g˙al pajjiΩna li ©ibdet lejna n-negozju tas-servizzi finanzjarji. Ma nafx kemm din it-triq tista’ tibqa’ miftu˙a g˙alina bil-proposta tal-unjoni bankarja li saret parti issa mix-xenarju tal-kriΩi tal-ewro. Il-poplu tag˙na g˙andu bΩonn min jibqa’ attent fuq x’inhu ji©ri matul l-atti tal-kriΩi tal-ewro, melodramm li donnu mhu se jintemm qatt. Tal-anqas imissna qed nipprevedu x’jistg˙u jkunu l-konsegwenzi g˙alina ta’ dak li jkun qed jin˙ema. M’iniex konvint li ta˙t il-gvern Nazzjonalista dan l-isforz qieg˙ed isir b’galbu jew b’serjetà.

(It-Torça, 10 ta’ Ìunju 2012)

Fl-interess nazzjonali, tal-anqas Ωew© salvagwardji ��3

14

FL-INTERESS NAZZJONALI, TAL-ANQAS ÛEWÌ SALVAGWARDJI

Meta wasal biex ida˙˙al f’Malta l-munita tal-ewro l-gvern Nazzjonalista kien qal ma’ kullimkien – u beda f’dan il-Parlament – li konna qed nintroduçu l-ewro biex nassiguraw l-istabbiltà tal-munita nazzjonali tag˙na. Qatt ma saret stqarrija daqstant perikoluΩa dwar xi ˙a©a li taffettwa t-tmexxija ekonomika u finanzjarja ta’ pajjiΩna – perikoluΩa fis-sens li mhux biss dak li bassret ma ©arax, imma wkoll g˙ax effettivament da˙˙litna f’sitwazzjoni fejn il-munita nazzjonali tag˙na tinsab kompletament barra mill-kontroll tag˙na. L-abbozz ta’ li©i li g˙andna quddiemna jikkonferma mill-©did din il-˙a©a. Qeg˙din nitkellmu fuq MekkaniΩmu, fond enormi li a˙na se nipparteçipaw fih b’mod minimu, li huwa ma˙sub biex jilqa’ g˙all-problemi ta’ instabbiltà kbira li l-ewro affaççja fl-a˙˙ar tlieta jew erba’ snin. Wasalna fi stadju fejn il-gvern xorta baqa’ jg˙id li l-fatt li konna fiΩ-Ωona tal-ewro ppreserva l-kisbiet ekonomiçi u finanzjarji

��3


tag˙na u alla˙ares ma konniex ©o fiha. Jiena ma nistax nifhem kif li tpo©©i f’nofs tempesta huwa l-mod kif t˙ares lilek innifsek minnha. Veru li l-ewro g˙andu l-vanta©©i tieg˙u mhux l-anqas dak li j˙oss il-poplu meta jivvja©©a pereΩempju jew meta jinnegozja bl-internet u jibqa’ juΩa munita “tieg˙u”. Imma, min-na˙a l-o˙ra, meta tqis il-bilanç ekonomiku u finanzjarju fir-rigward tat-tmexxija tal-pajjiΩ, inkunu qed ng˙ixu rasna fis-s˙ab jekk ng˙idu b˙all-gvern. Il-problema taΩ-Ωona ewro hi li l-istruttura tag˙ha tfasslet ˙aΩin. U l-parteçipazzjoni fil-MekkaniΩmu g˙all-Istabbiltà Ewropea li qed niddiskutu llum, bit-trattat li qeg˙din nirratifikaw, huwa pass ie˙or f ’irtirata wara l-o˙ra li saret fil-mod kif ikkonçepixxu t-tmexxija taΩ-Ωona ewro u fil-mod kif ˙addmu u mexxew il-munita sal-lum, fil-kuntest tal-globalizzazzjoni finanzjarja li issa ta˙kem ma’ kullimkien.

IRTIRATI

L-ewwel disinn taΩ-Ωona ewro kien jg˙id çar u tond li min jipparteçipa fiha u min se jaddotta l-munita tal-ewro se jkun huwa responsabbli – hu biss wa˙du b˙ala nazzjon, b˙ala gvern, g˙at-tmexxija ekonomika u finanzjarja tajba tieg˙u. Ma setg˙ux jintwerew solidarjetà jew appo©© biex kwalunkwe membru li jkollu problema jΩomm fuq saqajh. Ried ikun hu wa˙du li jirran©a l-problemi tieg˙u. Niftakar lill-Ambaxxatur ÌermaniΩ ta’ dak iΩ-Ωmien madwar tliet snin ilu jg˙idli: ir-regoli huma çari, kul˙add irid jie˙u ˙sieb jirran©a d-dar tieg˙u. Dan meta kienet qed tqum il-problema tal-Greçja bil-kbir. Imbag˙ad il-problema tal-Greçja kompliet kibret.


Kulma tiΩen il-Greçja hu bejn 3 fil-mija g˙al 4 fil-mija fil-kejl tal-ekonomija taΩ-Ωona ewro, imma bdew jirrealizzaw li jekk il-Greçja tog˙tor se jkun hemm konsegwenzi u riperkussjonijiet kbar, mhux kontrollabbli, fuq il-bqija taΩ-Ωona. Allura da˙let l-ewwel çaqliqa, l-ewwel irtirata ng˙idilha jien. Beda jintqal illi l-Greçja b˙ala kaΩ partikolari g˙andha bΩonn l-g˙ajnuna u l-appo©© u se ting˙ata dan b’mod multilaterali. Tfassal mudell li Malta pparteçipat fih g˙ax ma kellhiex mod ie˙or x’tag˙mel. Ing˙ata self bilaterali lill-Greçja minn kull pajjiΩ tal-ewro, bi ftehim bejn il-pajjiΩi kollha. Dan konna ddiskutejnieh fil-Parlament meta l-Ministru tal-Finanzi g˙amel stqarrija tal-g˙a©eb anki g˙al dak iΩ-Ωmien. Qalilna li din kienet biçça negozju li se tqallag˙na l-flus g˙ax se nkunu qed nissellfu bl-ir˙is u nsellfu bl-g˙oli, bi premium. Allura se nag˙mlu profitt. Jiena kont rajtu ta’ barra minn hawn dak il-kunçett, imma kien fuq dik il-premessa min-na˙a tal-gvern li g˙addiet il-li©i dwar is-self lill-Greçja. Imbag˙ad bdew iqumu l-problemi – jien mhux se nid˙ol fid-dettalji ta’ kif qamu g˙ax iddiskutejniehom kemm-il darba – dwar l-Irlanda, dwar il-Portugall – waqt li baqg˙et ittektek il-problema tal-Greçja. B’hekk kellna t-tieni rtirata. Hawn qam l-argument: in˙olqot problema temporanja fiΩ-Ωona ewro u allura trid titwaqqaf façilità li bdiet tissejja˙ Façilità Ewropea g˙all-Istabbiltà Finanzjarja – ji©ifieri fond temporanju, hekk konna g˙ednielu – biex il-pajjiΩi li b’xi mod jew ie˙or ji©u daharhom mal-˙ajt fiΩ-Ωona ewro jkunu jistg˙u jduru fuqu. Minnu, mhux b’mod bilaterali, pajjiΩ ma’ pajjiΩ, imma direttament, jing˙ataw self – g˙ajnuniet. B’hekk jilqg˙u g˙all-problemi finanzjarji li jinqalg˙ulhom.


Inkella jekk jit˙allew jimirdu huma, iΩ-Ωona ewro kollha kien se jaqbadha bronkite kbira. Ma’ dan il-fond imbag˙ad kien ing˙aqad ukoll fond tal-Kummissjoni Ewropea, il-MekkaniΩmu Ewropew g˙all-Istabbiltà Finanzjarja – li kien mitmug˙ mill-fondi tal-Unjoni Ewropea nnifisha, dejjem b’mod “temporanju” ˙alli jilqa’ g˙all-problemi tal-Greçja, tal-Portugall u tal-Irlanda. Imma iktar ma g˙adda Ω-Ωmien aktar beda jidher li dak li ntqal li kien temporanju ma kien temporanju xejn u se jsir permanenti. L-ewwel Ωdiedu l-fondi tal-Façilità Ewropea g˙all-Istabbiltà Finanzjarja. Jew a˙jar, Ωdidilha l-mod kif tista’ ttella’ l-fondi – u issa nispjega g˙aliex. Imbag˙ad beda jintqal li tista’ tittawwal il-˙ajja tal-Façilità. Wara ntqal li a˙jar ikun hemm xi ˙a©a permanenti: b’hekk faqqas dan li g˙andna quddiemna llum, il-MekkaniΩmu g˙all-Istabbiltà Ewropea.

NIRREAÌIXXU GÓALL-ÌRAJJIET

Jekk wie˙ed i˙ares lejn il-mekkaniΩmi li semmejna, isib li kull darba kien qed ikun hemm reazzjoni g˙all-©rajjiet li jkunu se jiΩgiççaw mill-kontroll tal-mexxejja taΩ-Ωona ewro. Jiena nibΩa’ li anke dan il-MekkaniΩmu li qed nitkellmu dwaru jista’ jkollu l-istess destin, billi jispiçça ja˙rab out of control u jkollu bΩonn jibqa’ ji©i a©©ustat. Fil-fatt di©à ©ie a©©ustat, g˙ax waqt li kien qieg˙ed jitfassal, l-istess fasla kellha tinbidel. Meta tqabbel l-abbozz tal-ftehim li ˙are© f’Mejju tas-sena li g˙addiet mal-abbozz ta’ Frar ta’ din is-sena, tinduna li kellhom jiççaqilqu l-goal posts. Il-mexxejja kienu qeg˙din il-˙in kollu jirrea©ixxu g˙all-©rajjiet. Din hi ˙a©a perikoluΩa ˙afna.


Allura iktar u iktar imbag˙ad irridu niflu sew il-MekkaniΩmu li g˙andna quddiemna, anki jekk ma nistg˙ux ng˙idu li m’a˙niex se nie˙du sehem fih. Il-MekkaniΩmu g˙all-Istabbiltà Ewropea minn na˙a qisu fond Ewropew immudellat fuq il-Fond Monetarju Internazzjonali, u min-na˙a l-o˙ra g˙andu aspetti kompletament differenti.

NUQQAS TA’ SKRUTINJU SERJU

Jibqa’ l-argument li kull darba qed ni©u b˙ala Parlament affaççjati b’fait accompli. Ìieli jkollna spjega tal-Ministru, ©ieli ji©i l-Prim Ministru jag˙mlilna stqarrija fuq xi jkun qal il-Kunsill Ewropew imma mezz ta’ skrutinju biex tal-anqas inkunu nafu kif sejrin l-affarijiet, mhux qed ikollna. Ili ng˙id din il-˙a©a dawn l-a˙˙ar tlieta, erba’ snin. Na˙seb li hemm bΩonn niddeçiedu bis-serjetà li dan il-Parlament, f’isem in-nazzjon Malti, jist˙oqqlu li l-iΩviluppi g˙addejja dwar il-munita nazzjonali jitressqu quddiemu, anke jekk f’kumitat (jista’ jkun il-PAC jew il-Kumitat tal-Affarijiet Barranin) biex regolarment ning˙ataw rendikont fuq kif sejrin l-affarijiet, mhux bilfors mill-Ministru imma wkoll mill-esperti tieg˙u. Biex inkun g˙edt kollox, waqt li kienet g˙addejja din is-seduta lill-Ministru staqsejtu informazzjoni fuq il-˙ru© ta’ Malta fil-kuntest tal-Greçja u tal-Fond tal-Façilità Ewropea g˙all-Istabbiltà Finanzjarja. L-informazzjoni tahieli minnufih. Imma allura g˙aliex m’g˙andux ikollna forum g˙addej il-˙in kollu fejn ladarba l-Ministru m’g˙andux problema biex jag˙ti din l-informazzjoni, hi tin˙are© fuq il-mejda kontinwament fil-laqg˙at ta’ kumitat strutturat li jiddiskuti l-istess affarijiet? B’hekk, il-poplu Malti jew


tal-anqas dawk li jinteressaw ru˙hom fil-materja, ikunu jistg˙u jsegwu. Fl-istess waqt, hemm bΩonn li nkomplu nirriflettu fuq id-difett strutturali fil-binja tal-ewro. Jekk ma ji©ix affaççjat b’analiΩi ekonomika stretta, u mag˙ha analiΩi politika, se nkomplu nçafçfu ’l hemm u ’l hawn, kull darba b’pass ’il quddiem jew b’irtirata f’sempliçi reazzjoni g˙al ©rajjiet li mhumiex ta˙t kontroll. Dwar hekk, min joqg˙od iwa˙˙al f’spekulaturi u mhux spekulaturi frankament ma jin˙assx serju. Jekk aççettajt dinja globalizzata, immexxija skont il-prinçipji tal-kummerç ˙ieles u ̇ allejt is-sistema finanzjarja tiddomina, u sostnejt li hekk g˙andu jkun, mela bir-rispett kollu ma tistax toqg˙od twa˙˙al fl-ispekulaturi. Il-problema hija o˙ra. G˙andna g˙aqda monetarja bla pilastru ekonomiku u finanzjarju kkontrollat miç-çentru. Personalment ma naqbilx ma’ ˙a©a b˙al din, imma g˙andhom ra©un dawk li jg˙idu li jekk ma jkunx hemm çentru politiku b’kontroll fuq it-tmexxija ekonomika b˙al fl-Istati Uniti tal-Amerika, l-ewro se jibqa’ bi struttura difettuΩa u bilfors se jinqalg˙ulu problemi.

PROBLEMA POLITIKA DAQSKEMM EKONOMIKA

Sal-lum safejn nista’ nara, g˙ad m’hemmx qbil fuq struttura federali fl-Ewropa – u mhux f’Malta, Malta ma tantx hija importanti f’dan il-kuntest – imma fi Franza, fil-Ìermanja stess. Jekk t˙ares lejn l-ideolo©ija tal-Qorti Kostituzzjonali ÌermaniΩa, din tag˙milha çara li, skont il-Kostituzzjoni ÌermaniΩa, materji li d-deçiΩjoni dwarhom hi tal-Bundestag ma jistg˙ux jg˙addu g˙ad-deçiΩjoni ta’ Brussell. Il-problema hi politika daqskemm hi ekonomika u


g˙andha impatt fuq it-tmexxija taΩ-Ωona ewro. Nag˙mlu kemm nag˙mlu fondi biex jilqg˙u, il-problema çentrali tibqa’ hemm: l-istrutturi politiçi ta’ lqug˙ huma nieqsa. Il-problema qed tikber fil-qafas tal-globalizzazzjoni li se˙˙et fl-a˙˙ar g˙oxrin, tletin sena. Meta jqumu l-˙alel finanzjarji, se jkunu enormi. Mhux se jibqg˙u fuq skala re©jonali jew anki kontinentali, imma se jinfirxu mad-dinja. Allura meta ji©u biex jimmanuvraw f’dawn il-˙alel, l-istrutturi ta’ tmexxija tal-ewro, g˙alkemm huma strutturi kontinentali, mhumiex sodi biΩΩejjed. Ta’ min isemmi punt ie˙or: fil-kriΩi, insibu Ωew© livelli marbuta flimkien: dak tad-djun nazzjonali li baqg˙u jikbru u dak tal-banek. Id-djun nazzjonali baqg˙u jiΩdiedu g˙ax l-eΩistenza stess tal-ewro wasslet biex pajjiΩ b˙all-Greçja jkun jista’ jissellef qisu kien il-Ìermanja. Il-Greçja g˙amlet hekk (u o˙rajn b˙alha) g˙al snin twal, bl-istess façilità u bl-istess img˙ax baxx daqs tal-Ìermanja sakemm wasalna fejn wasalna. Imbag˙ad, kien hemm il-kriΩi l-o˙ra tal-banek li sellfu bl-amment... Meta nqala’ l-g˙aw©, kemm il-banek u kemm il-gvernijiet ixxuttaw mill-flus... Dawn iΩ-Ωew© problemi g˙adhom hemm u ma nistax nara li qeg˙din ji©u ffaççjati... Biex issolvihom ming˙ajr ma to˙loq bidliet strutturali kbar, trid to˙ro© il-flus. U l-mistoqsija dejjem tkun: min se j˙allas u kemm lest i˙allas? Frankament, fl-irtirata wara l-o˙ra li g˙amlet iΩ-Ωona ewro, jiena bqajt imbellah li ˙afna mill-modi kif tfasslu l-miΩuri ta’ lqug˙ kien permezz ta’ dak li nsejja˙lu creative accounting. L-EFSF, il-Façilità Ewropea g˙all-Istabbiltà Finanzjarja, tidhirli eΩempju s˙i˙ ta’ hekk meta l-ewwel


tg˙idilha fond temporanju; imbag˙ad tiffinanzjah mhux billi to˙ro© flus up front imma billi to˙ro© il-garanziji; imbag˙ad tg˙id li din il-façilità li se tmur fuq is-swieq biex tissellef, trid tkun tista’ tie˙u s-self tag˙ha bl-img˙ax li jing˙ata lill-korpi mitqiesa b˙ala triple A. Imma l-pajjiΩi li qed jo˙or©u l-garanziji m’g˙andhomx kollha l-istatura ta’ triple A. Allura jridu jΩidu l-ammont ta’ garanziji li jid˙lu g˙alihom, pereΩempju, g˙al 500 miljun minflok 300 miljun, biex il-500 miljun tag˙hom jitqies b˙ala ekwivalenti g˙al 300

miljun ta’ min g˙andu fis-swieq finanzjarji l-istatura ta’ triple A. Ma nistax nifhem kif ̇ a©a b˙al din setg˙et timpressjona lis-swieq finanzjarji globalizzati. L-argument kien li hekk jaqbel na˙dmu. Niftakar, dwar dan kont nibqa’ perpless: ji©i l-Ministru jg˙idilna kemm huwa l-impenn finanzjarju ta’ Malta, imbag˙ad jirritorna ftit wara u jg˙idilna li kellna nΩidu dak l-impenn g˙ax Malta mhix triple A, ma nistg˙ux nag˙tu l-aqwa garanzija, u allura kellna ng˙ollu l-ammont tal-garanzija tag˙na biex imbag˙ad inkunu nistg˙u b’dik iΩ-Ωieda nla˙˙qu g˙al garanzija li suppost tkun triple A. Le, ma nistax nifhem kif dawn il-mani©©i setg˙u jimpressjonaw.

GARANZIJI U KOMPETENZA

Hemm argument ie˙or: jintqal li billi to˙ro© garanzija, m’intix qed tissellef jew issellef. Nafhom dawn l-argumenti g˙ax anke hawn Malta l-gvernijiet kollha kultant jag˙mlu garanzija mal-bank biex imbag˙ad il-bank jo˙ro© is-self hu u l-biçça ma tidhirx fuq il-kotba tal-Gvern. Imma, kemm tista’ tibqa’ tag˙milha din il-˙a©a? Jekk qed inkunu serji dwar il-kriΩi taΩ-Ωona tal-ewro, b’mod ©enerali trid t˙ares

Fl-interess nazzjonali, tal-anqas Ωew© salvagwardji �31

lejn kull garanzija qisha self prattikament, u hu fuq l-opportunity cost ta’ self li trid tibbaΩa l-kalkoli tal-affarijiet. Il-Gvern Malti g˙adu kif ˙are© il-bonds g˙al img˙ax ta’ bejn it-3.75 fil-mija – jekk niftakar tajjeb – g˙al madwar 5.5fil-mija. Dak huwa l-opportunity cost tal-Gvern Malti meta jissellef. Issa, jekk se jag˙mel onlending jew se jipparteçipa fil-kapital ta’ kumpanija, ta’ fond, ta’ façilità, ta’ mekkaniΩmu, di©à g˙andu dik l-ispiΩa g˙addejja. Reali jew virtwali, mill-opportunity cost, x’termini... x’mar©ini ta’ profitt jista’ jkollu? Na˙seb li dawn l-affarijiet imisshom ji©u mfissra a˙jar. Na˙seb li min˙abba fihom li çerti problemi nqalg˙u bil-kbir. PereΩempju, meta beda jissemma l-MekkaniΩmu g˙all-Istabbiltà Ewropea, x’g˙amlu l-Ewropej? Bag˙tu delegazzjoni kbira ç-Çina, u t˙abbret fil-midja, biex jitolbu liç-ÇiniΩi jag˙tu appo©© bil-fondi tag˙hom lill-fondi tal-MekkaniΩmu. Marru wkoll g˙andu jkun ir-Russja, imma ma tawhomx flus; ara lil Çipru mid-dehra r-Russi qed jag˙tuh wiçç. L-istess iç-ÇiniΩi: baqg˙u çassi quddiem it-talba tal-Ewropej. Qrajt ftit ilu intervista maç-Chairman tal-Bank Dinji fuq dan is-su©©ett. Hu qal li ma setax jifhem kif l-Ewropej marru ç-Çina, b’dak it-tip ta’ pakkett finanzjarju li kellhom, mibni fuq garanziji u stennew li ç-ÇiniΩi se jimpressjonaw ru˙hom. Donnu li ninsabu mmexxijin, kemm Malta u kemm fiΩ-Ωona ewro, minn numru ristrett ta’ nies li ja˙sbu li jafu kollox, li l-mudell tag˙hom huwa t-tajjeb, li dak kollu li jg˙idu, mhux problema, u jekk jag˙mlu Ωball, ma jimpurtax g˙ax malajr nirran©awh skont kif jg˙idu huma! Kemm ilna nisimg˙u kontra l-Griegi u l-gvern Grieg! SkuΩani, mela l-Eurostat, mela l-Kummissjoni Ewropea u


l-o˙rajn kollha… x’kienu qed jag˙mlu matul is-snin dwar il-Greçja? Qalulna mbag˙ad li se jwaqqfu gvern teknokratiku fil-Greçja ˙alli jmexxi tajjeb. Po©©ew lil xi ˙add li kien Viçi President tal-Bank Çentrali Ewropew, preçiΩament fi Ωmien li l-Greçja – skont ma qalulna wara – kienet qed t˙awwad fl-istatistika! Kienu kollha l-istess nies involuti u ma indunawx b’x’inhu ji©ri fil-Greçja? Jew inkella… sentejn ilu u s-sena li g˙addiet, b’˙afna fanfarri, qalulna li qed isiru stress tests mal-banek kollha Ewropej. Sabu, qalulna, min kienu l-banek ftit batuti u liema banek kienu aktar, u se jie˙du passi fuqhom! Il-Kummissjoni Ewropea u l-Kunsill tal-Ministri laqg˙u r-riΩultati b’˙afna çapçip. Anke l-Bank of Valletta mar tajjeb, prosit. Imma mbag˙ad, kif ji©u jg˙idulna, tliet xhur, xahrejn ilu, li l-banek Spanjoli qed jikkollassaw? U qisu ma ©ara xejn! Sena ilu qalulna li hemm banek Spanjoli li skont l-istress test li sar fuqhom kellhom problema. Kif il-problema ma ©ietx affaççjata dakinhar? Baqa’ qisu ma ©ara xejn! Issa, f’daqqa wa˙da, ifaqqsu mitt biljun ewro ta’ krediti li jridu jin˙ar©u lill-gvern Spanjol, ˙alli dawn il-banek li suppost sena ilu g˙addew jew m’g˙addewx minn stress test jibqg˙u fil-wiçç! L-istess elites jibqg˙u g˙addejjin minn irwol g˙al ie˙or... kummissarju Ewropew, jew chairman ta’ bank çentrali, jew chairman ta’ xi korporazzjoni tal-gvern… Dan qed ji©ri fuq skala Ewropea! G˙ax il-problema kollha hi marbuta wkoll ma’ nuqqas ta’ trasparenza u accountability. L-istess MekkaniΩmu g˙all-Istabbiltà Ewropea ma jag˙tix sens ta’ trasparenza u accountability. Jien qrajt id-dokument kollu tat-trattat, flejt ukoll xintqal f’çerti


parlamenti Ewropej o˙ra, u l-istess argument jibqa’ jqum: ta’ nuqqas ta’ trasparenza. G˙alhekk, irridu noqog˙du attenti kemm nikkommettu ru˙na u fiex nikkommettu ru˙na.

IL-ÌERMANJA TORBOT U TÓOLL

Nikkalkula li di©à ninsabu impenjati b’xi mod jew ie˙or, f’sens anke ta’ garanziji jew weg˙da ta’ garanziji g˙al 1,�00 miljun! Dak hu l-envelope tal-impenn tag˙na. U kif

qed nitkellem jien, biex noqog˙du attenti g˙al xiex de˙lin, l-istess jitkellem ˙addie˙or. B˙allikieku mhux il-Ìermanja wkoll li g˙andha l-problemi finanzjarji tag˙ha? Hawn xi ˙add rasu fuq g˙onqu li meta ji©i biex i˙allas kont, ma joqg˙odx jiççekkja n-numri u jara ftit x’qed i˙allas? Il-mistoqsija tibqa’: min se jikkompensa g˙all-problema tal-istruttura dg˙ajfa li g˙andha Ω-Ωona ewro f’nofs il-˙alel tal-globalizzazzjoni? Iddur kemm iddur, taqa’ fuq pajjiΩ wie˙ed. Jien g˙andi r-riΩervi tieg˙i dwar kif qed ta©ixxi l-Ìermanja, imma min-na˙a l-o˙ra, trid tifhem ukoll x’inhuma l-interessi ÌermaniΩi. Kul˙add effettivament idur fuq il-Ìermanja biex t˙allas! Jekk se jkollna n˙allsu a˙na – hekk qed jg˙id Schäuble, il-Ministru tal-Finanzi ÌermaniΩ – irridu naraw x’qed tag˙mel bil-flus li nag˙tuk g˙all-ba©it tieg˙ek! Mhux inti ti©ri u tonfoq, imbag˙ad ti©i g˙andi biex in˙allaslek! G˙andu ra©un. Daqskemm g˙andha ra©un imbag˙ad Merkel, il-Kançillier ÌermaniΩa, li tg˙id: Isma’, toqog˙dux idduru fuq il-Ìermanja biex t˙allas g˙al kollox! Anke kieku kellha tag˙mel hekk, il-Ìermanja ma tifla˙x t˙allas g˙al kollox!


Dwar l-argument tal-euro bonds pereΩempju: il-proposta li biex id-djun u l-piΩ tal-img˙axijiet ma jg˙arrqux lill-pajjiΩi kollha, il-gvernijiet taΩ-Ωona ewro jwaddbu f’pakkett wie˙ed is-self tag˙hom. B’hekk jitpo©©a s-self ta’ min jinsab tajjeb fl-istess pakkett ma’ min huwa batut, li jkollu j˙allas ˙afna mg˙ax. Xi jfisser dan? Ifisser li bejn min qed i˙allas nag˙mlu mod img˙ax ta’ � fil-mija, u min qed i˙allas 9 fil-mija, l-img˙ax se jsir tag˙hom kollha tag˙hom l-istess – forsi 4 g˙al 5 fil-mija. Ifisser li min i˙allas � fil-mija se jkollu jibda j˙allas 5 fil-mija. Il-ÌermaniΩi kkalkulawha din u jg˙idu li biha jispiççaw bejn 30 biljun g˙al 70 biljun ewro minn ta˙t! Daqqa jg˙idu li din l-ispiΩa ssir f’sena, u daqqa li titla’ sa hekk fi tliet snin. Mhux ovvja li se jitmeΩmΩu? Ma tag˙milx sens g˙alihom. Hawn, ner©a’ ng˙id, tinsab problema fondamentali g˙all-ewro: min se j˙allas...?.... Issa, il-pajjiΩ li l-aktar jista’ j˙allas... hu wkoll il-pajjiΩ li l-aktar ibbenefika mill-˙olqien taΩ-Ωona ewro: il-Ìermanja. Il-poΩizzjoni tag˙ha dejjem kienet li mhix lesta t˙allas biex ˙addie˙or jonfoq bla raΩan. Trid kontrolli li japplikaw g˙al kul˙add l-istess. B’hekk kull irtirata li rajna tiΩviluppa fl-a˙˙ar snin, fejn pajjiΩ wara l-ie˙or ji©i offrut self ta’ g˙ajnuna miΩ-Ωona ewro kontra r-regoli li l-istess Ωona bdiet bihom, ©iet akkumpanjata minn kundizzjonijiet li jobbligaw lill-pajjiΩ konçernat biex inaqqas bil-kbir l-ispiΩa tieg˙u – preçiΩament ˙alli jnaqqas id-defiçit li kien qed i©orr. Dil-politika tal-awsterità kellha l-effett li ddg˙ajjef l-ekonomiji Ewropej. Naqqsu fir-ritmu tag˙hom. Kiber il-qg˙ad. Mar lura n-negozju Ewropew. Sadattant, id-d˙ul tal-gvernijiet xorta mhux ila˙˙aq mal-˙ru©; id-defiçits kienu kbar u baqg˙u kbar.


IL-MEKKANIÛMU GÓALL-ISTABBILTÀ MHUX BÓALL-FOND MONETARJU INTERNAZZJONALI

Fl-a˙˙ar, nixtieq ni©bed erba’ konkluΩjonijiet dwar ir-ratifika li g˙andna quddiemna tat-trattat tal-MekkaniΩmu g˙all-Istabbiltà Ewropea. L-g˙an tal-MekkaniΩmu g˙all-Istabbiltà Ewropea f’artiklu 3 tal-ftehim hu mniΩΩel hekk: se naqrah bl-IngliΩ: “The purpose of the ESM shall be to mobilize funding and provide stability support under strict conditionality appropriate to the financial instrument chosen, to the benefit of ESM members which are experiencing, or are threatened by severe financing problems, if indispensable to safeguard the financial stability of the euro area as a whole and of its member states.” Ma jistax ikun hemm ambigwità dwar din id-definizzjoni. Jekk jinqala’ kaΩ fejn, alla˙ares qatt, Malta wa˙idha ti©i qed taffaççja diffikultajiet finanzjarji, bl-ebda mod dan ma jkun jista’ jitqies b˙ala li b’xi mod se jkun ta’ theddida g˙all-istabbiltà finanzjarja taΩ-Ωona tal-ewro kollha kemm hi u tal-membri tag˙ha. Ji©ifieri se nkunu qed nipparteçipaw f’Fond li strettament ma jistax jintuΩa favurina. Il-MekkaniΩmu g˙all-Istabbiltà Ewropea ©ie mpin©i b˙ala l-Fond Monetarju Internazzjonali g˙aΩ-Ωona ewro. Imma bl-ebda mod ma tista’ tqabbel l-g˙anijiet tieg˙u mal-g˙anijiet tal-Fond Monetarju Internazzjonali, fejn Malta wkoll tipparteçipa u fejn jekk jinqalg˙ulna problemi rilevanti, g˙andna kull dritt li nitolbu appo©©. Dan g˙ax l-Istatut tal-Fond Monetarju Internazzjonali, fl-Artiklu I u fil-paragrafu 5 tieg˙u, jg˙id hekk dwar l-g˙anijiet tal-Fond:


“To give confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguard, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity.” X’differenza bejn iΩ-Ωew© testi! Issa naf li l-gvern se jg˙id li g˙andu l-konfort ta’ xi tniΩΩel fil-Parlament Ewropew dwar dil-˙a©a. Se jsemmi xi intendiment fil-minuti tal-laqg˙at tal-mexxejja taΩ-Ωona ewro li hu jg˙id li akkwista, b˙ala kjarifika dwar kif Malta tista’ ti©i meg˙juna direttament mill-MekkaniΩmu ta’ Stabbiltà Ewropea jekk jinqala’ l-kaΩ. Naf li se jg˙id li hemm Çipru – li mhux wisq akbar minn Malta – li qed ilesti biex jirçievi g˙ajnuna mill-Fond. Fl-interess nazzjonali, dawn m’g˙andhomx jitqiesu b˙ala salvagwardji biΩΩejjed. Il-kaΩ ta’ Çipru qed iqum f’kon©untura fejn il-membri taΩ-Ωona ewro ma jistg˙ux jidhru li qed jiddeçiedu favur Spanja, l-Italja jew l-Irlanda waqt li j˙allu lil Çipru jsaffar. Jekk nag˙mlu mod tg˙addi dil-kriΩi imma wara tqum wa˙da g˙al Malta biss, skont il-ftehim li g˙andna quddiemna ma jkun hemm l-ebda ra©uni g˙aliex g˙andha tittie˙ed azzjoni. Minuti tal-kunsill jew xi dokumenti simili ftit ikunu jorbtu, kif rajna f’diversi kaΩi ji©ri pereΩempju dwar l-immigrazzjoni illegali. Allura hu fl-interess nazzjonali li fir-ratifika tal-ftehim li g˙andna quddiemna, il-gvern jorbot mal-©enb tal-firma tieg˙u, ittra fejn jer©a’ jistqarr dak li qal li twieg˙ed waqt il-laqg˙at tal-mexxejja taΩ-Ωona ewro. Ma nista’ nara l-ebda komplikazzjoni politika jew diplomatika f’mossa b˙al din. U allura, fl-istadju ta’ kumitat se nressaq emenda g˙al-li©i li g˙andna quddiemna li tmur f’dan is-sens.


AKTAR SKRUTINJU MILL-PARLAMENT

It-tieni punt tieg˙i jer©a’ jorbot man-nuqqas ta’ trasparenza u ta’ accountability li sa issa ddomina t-tmexxija tal-munita nazzjonali tag˙na l-ewro – tal-anqas sa fejn g˙andu x’jaqsam dal-Parlament, biex ma nsemmix parlamenti nazzjonali o˙ra. Permezz tal-ftehim jew trattat li g˙andna quddiemna, qed tinbena struttura intergovernattiva ©dida o˙ra u permanenti. Se tkun qed tie˙u deçiΩjonijiet ta’ portata kbira li jirriflettu fuq il-futur u l-preΩent tal-munita ta’ Malta. L-istituzzjonijiet tag˙ha u l-og˙la persuni li jmexxuhom g˙andhom ikunu trasparenti u accountable, mhux biss lejn il-gvernijiet li jappuntawhom, imma wkoll lejn il-parlamenti nazzjonali li jirrappreΩentaw is-sovranità tal-pajjiΩi konçernati. Permezz tal-ftehim qed jitwaqqfu Bord ta’ Gvernaturi biex imexxu l-politika ©enerali tal-MekkaniΩmu g˙all-Istabbiltà Ewropea, kif ukoll Bord ta’ Diretturi li se jkun inkarigat mit-tmexxija tal-operazzjonijiet tal-MekkaniΩmu. Malta se jkollha membru jirrappreΩentaha fuq il-Bord tal-Gvernaturi u Direttur appuntat minnha. Dan il-Parlament g˙andu jkun informat regolarment b’li jkun g˙addej fi ˙dan l-istituzzjonijiet tal-MekkaniΩmu. Huma r-rappreΩentanti tal-pajjiΩ li g˙andhom jinfurmaw lill-Parlament Malti. G˙alhekk, fl-istadju ta’ kumitat, bi˙siebni nressaq emenda g˙al-li©i li biha tal-anqas darba fis-sena, il-Gvernatur u d-Direttur ta’ Malta jitilg˙u quddiem kumitat tal-Kamra, nist˙ajjel il-Kumitat tal-Kontijiet Pubbliçi g˙ax b˙alissa dak hu l-uniku kumitat li g˙andu xi kompetenzi ta’ skrutinju finanzjarju, ˙alli jag˙mlu rapport quddiemu ta’ xi jkun g˙addej fi ˙dan il-MekkaniΩmu g˙all-


Istabbiltà Ewropea u biex jirrispondu g˙all-mistoqsijiet li jsirulhom. L-a˙˙ar Ωew© punti li xtaqt inqajjem huma fl-istess ˙in ©enerali u fondamentali g˙al li qed nag˙mlu.

BIDLIET U INÇERTEZZI

Il-ftehim li g˙andna quddiemna ma jiddefinixxix g˙alkollox kif se ja˙dem il-MekkaniΩmu Ewropew ta’ Stabbiltà. Wara li kienu kwaΩi ntemmu n-negozjati dwaru, faqqa’ l-pro©ett l-ie˙or g˙al patt fiskali ta˙t pressjoni qawwija ÌermaniΩa. Dan il-patt hu separat mill-ftehim li g˙andna quddiemna. Fost affarijiet o˙ra, qed jag˙fas fuq il-pajjiΩi membri tal-ewro biex ida˙˙lu xi regola kostituzzjonali dwar kif g˙andhom imexxu l-finanzi pubbliçi. Qieg˙ed ukoll jg˙id li min ma jsegwix dawn ir-regoli, anki jekk ikun ikkontribwixxa g˙all-MekkaniΩmu ta’ Stabbiltà Ewropea, mhux se jkun jista’ jirçievi appo©© minnu. Malta qed tag˙mel tajjeb li ma tg˙a©©ilx biex tirratifika l-patt fiskali. Dan twelled wara li ©ie varat il-ftehim li g˙andna quddiemna. Imma ninsabu quddiem dokument ta’ trattat li, biex jinftiehem sew, irid jinqara f’konnessjoni ma’ trattat ie˙or li g˙ad irid ji©i ratifikat minn dan il-Parlament. Sibtha ˙a©a kurjuΩa ˙afna li, fil-preΩentazzjoni tieg˙u, il-Ministru tal-Finanzi ftit li xejn aççenna g˙al dil-˙a©a. G˙ax imbag˙ad g˙andna komplikazzjoni akbar. Meta bdejt nitkellem fuq dan l-abbozz ta’ li©i l-©img˙a li g˙addiet, ma kinitx hemm. Illum wara s-summit tal-ewro li nΩamm nhar il-Óamis u l-Ìimg˙a li g˙addew, inqalg˙et din il-komplikazzjoni. Il-ftehim li g˙andna quddiemna b’dil-li©i jiddefinixxi l-operat tal-MekkaniΩmu g˙all-Istabbiltà Ewropea b˙ala


li se jkun ma˙sub biex joffri appo©© finanzjarju lill-pajjiΩi membri. Jg˙id ukoll li s-self li jag˙mel lill-pajjiΩi se jie˙u prijorità fuq kull self ie˙or li l-pajjiΩ jista’ jid˙ol g˙alih. Dawn kienu mitqiesa b˙ala pedamenti ewlenin ta’ kif se jopera l-MekkaniΩmu g˙all-Istabbiltà Ewropea. Imma kif fhimt jien, fis-summit tal-©img˙a l-o˙ra, ©ie deçiΩ bil-maqlub, wara l-pressjoni li g˙amlu Spanja u l-Italja min˙abba d-diffikultajiet li qed jiltaqg˙u mag˙hom fis-swieq finanzjarji. Ìie maqbul li effettivament il-MekkaniΩmu g˙all-Istabbiltà Ewropea se jkun jista’ jsellef direttament lill-banek. U se jkun jista’ jaqbel li s-self li jag˙mel ma ji˙ux prijorità s˙i˙a fuq kull self ie˙or. Ji©ifieri, hawn se nkunu qed nag˙tu l-konferma g˙al ftehim li di©à g˙andu bΩonn li ji©i emendat radikalment. Utli kemm jistg˙u jkunu utli dawn il-bidliet li qed jissemmew, ftit jista’ jkun hemm turija aqwa ta’ kemm iΩ-Ωona ewro qed titbandal minn sitwazzjoni g˙al sitwazzjoni ming˙ajr ma to˙ro© mis-salib it-toroq li tinsab fih. U dan waqt li l-parlamenti nazzjonali jit˙allew isaffru u mbag˙ad ji©u mistennija çumpaqq biex jirratifikaw ftehimiet li jkunu saru bejn ftit gruppi mag˙Ωula. Fil-Bundestag nhar il-Ìimg˙a li g˙addiet, quddiem dil-˙a©a, il-president tal-grupp parlamentari tal-Linke, Dagmar Enkelmann, sej˙et dak li kien g˙addej b˙ala verarschung tal-Parlament tag˙ha. Wara kellha tiskuΩa ru˙ha g˙alkemm ma na˙sibx li kellha daqstant g˙alfejn. L-istess ˙a©a tista’ tintqal g˙all-parlamenti nazzjonali l-o˙ra, fosthom dal-Parlament. U m’iniex se niskuΩa ru˙i fuq dil-˙a©a. G˙ax il-˙a©a tassew kurjuΩa qed tkun din: li l-pro©ett tal-ewro – imwieled b˙ala pro©ett politiku – qed jispiçça li, biex iΩomm fil-wiçç, ikollu juΩa metodi xejn demokratiçi. Fatti kompjuti anki meta jkunu kontradittorji ta’ fatti


kompjuti o˙ra li jkunu ©raw ftit qabel, qed ji©u ppreΩentati fl-istrutturi tad-demokrazija parlamentari Ewropea mhux aktar fuq il-baΩi ta’ take it or leave it, imma fuq il-baΩi ta’ take it. Kull min jemmen fl-ideal tad-demokrazija kif Ωviluppata fl-Ewropa moderna g˙andu... ˙alli nkun prudenti... i˙ossu skomdu b’dan l-iΩvilupp xokkanti.

(Minn intervent fid-dibattitu tal-Parlament Malti dwar l-approvazzjoni tal-ftehim biex Malta tie˙u sehem fil-Mekkanizmu g˙all-Istabbiltà Ewropea, 27 ta’ Ìunju - 02 ta’ Lulju 2012)


15

IL-ÌRAJJA TAL-EWRO: KIF TINKITEB TELENOVELA

Fl-a˙˙ar ©imag˙tejn jew tlieta, il-©rajja tal-ewro Ωiedet fix-xebh ma’ kif tiΩvol©i telenovela. Wara numru ta’ episodji fejn inkunu segwejna l-avventuri ta’ xi karattri, tinbidel l-enfasi. Ix-xenarju jibda jurina x’inhu g˙addej minn karattri o˙ra. Sa ftit taΩ-Ωmien ilu, il-kamera kienet qed tiffoka fuq il-Greçja u kif il-President il-©did FrançiΩ Hollande se ji©©ieled kontra l-awsterità. Imbag˙ad dan l-a˙˙ar Spanja u l-Italja da˙lu fuq il-quddiem nett tal-intriçç. Fil-fatt wara t-tieni elezzjoni li nΩammet din is-sena fil-Greçja, irnexxielhom jifformaw gvern il-partiti li jridu jibdlu “xi ftit” il-ftehim tal-pajjiΩ maΩ-Ωona ewro, bl-awsterità kollha ta’ ©o fih. Imma mhumiex jipproponu li jiç˙duh.Il-Kummissjoni Ewropea, il-Bank Çentrali Ewropew u l-Fond Monetarju Internazzjonali kellhom jer©g˙u jibag˙tu l-esperti tag˙hom (grupp imsejja˙ it-“trojka”) biex jiflu g˙al darb’o˙ra l-qag˙da tal-pajjiΩ. Imma ©ara li l-Prim Ministru tal-Greçja Samaris kellu jag˙mel operazzjoni f’g˙ajnejh u

�41


l-Ministru tal-Finanzi l-©did tah attakk f’qalbu u rriΩenja qabel mank la˙aq ˙a l-˙alfa tal-kariga. Il-Greçja lanqas kellha rappreΩentanza effettiva fil-laqg˙a tal-mexxejja Ewropej ©imag˙tejn ilu. Donnu li g˙o©bot lil kul˙add dil-biçça li l-kumplikazzjonijiet Griegi jinΩammu g˙al xi ˙in fil-limbu. Xorta wa˙da l-fehma baqg˙et tinfirex li, f’xi Ωmien futur, mhux bilfors imbieg˙ed, il-Greçja se jkollha t˙alli Ω-Ωona tal-ewro.

MIÛURI FAVUR TKABBIR EKONOMIKU

Min-na˙a tieg˙u François Hollande baqa’ jinsisti li l-politika ta’ awsterità fl-Ewropa trid titwieΩen... u sew... b’politika li tifta˙ il-vit finanzjarju ˙alli jin˙olqu x-xog˙ol u l-impjiegi. Sab min jappo©©jah. Saru sforzi biex jinstabu mezzi biex tinqatag˙lu xewqtu ming˙ajr ma titrieg˙ex il-Kançillier ÌermaniΩa Merkel. Hollande sostna li malli jintla˙aq qbil dwar pakkett ra©onevoli ta’ spiΩa fuq pro©etti siewja, Franza tkun sodisfatta. Tkun lesta tiffirma l-patt fiskali li Merkel bl-appo©© tal-eks-President FrançiΩ Sarkozy kienet insistiet fuqu f’Diçembru tas-sena li g˙addiet. Skont dal-patt, il-pajjiΩi membri taΩ-Ωona ewro qed jintrabtu li jda˙˙lu fil-kostituzzjoni tag˙hom regola li timponi fuq gvern li ma jittollerax defiçit fil-ba©it tieg˙u. Il-fondi g˙all-pro©etti li xtaq Hollande nstabu. L-a˙˙ar laqg˙a tal-Kunsill Ewropew lejlet l-Imnarja qablet fuq dokument ©did, l-hekk imsejja˙ Patt g˙at-Tkabbir u l-Impjiegi. Fih, irrepetew ˙afna mit-temi tal-Unjoni Ewropea tul l-a˙˙ar snin: dwar kif is-suq wie˙ed Ewropew kellu ji©i mwettaq sew fis-setturi kollha; jew dwar li g˙andha ting˙ata importanza akbar lill-industriji li jg˙inu fil-˙arsien

Il-©rajja tal-ewro: kif tinkiteb telenovela �43

tal-ambjent – insomma, temi li ftit li xejn sar progress reali dwarhom. Aktar minn hekk, wieg˙du li se “jimmobilizzaw” 1�0 biljun ewro biex jintefqu fuq pro©etti ta’ tkabbir ekonomiku. Il-flus se jinstabu billi 55 biljun ji©u minn fondi li l-Unjoni Ewropea kellha fil-parti tal-ba©it tag˙ha li jissejja˙ “strutturali” u li ma kinux se jintuΩaw; 4.5 biljun ji©u billi l-Unjoni to˙ro© self pubbliku f ’bonds g˙al pro©etti; u billi l-kapital tal-Bank Ewropew ta’ Investiment jiΩdied b’ 10 biljun li fuqhom il-Bank ikun jista’ jsellef sa 60 biljun aktar milli jista’ llum. Ma kinux ftit dawk li ma impressjonawx ru˙hom b’dil-proposta. Intqal li fil-verità, fondi, pro©etti u ideat ©odda ftit li xejn ˙ar©u minn dal-patt il-©did. Id-deputat Ewropew Cohn-Bendit ikkritikah bil-qawwa b˙ala ̇ obΩ mimg˙ud. Ma tantx tista’ tlumu. Imma Hollande ˙are© sodisfatt u Merkel kellha l-assigurazzjoni li Franza se tapprova l-patt fiskali.

SPANJA U L-ITALJA FIN-NAR

Biss, sadattant ix-xenarju tat-telenovela kien dar lejn Spanja u mag˙ha l-Italja, fejn kienet in˙miet kriΩi o˙ra. Banek Spanjoli ewlenin waslu qrib il-falliment u Spanja kellha titlob g˙all-g˙ajnuna taΩ-Ωona ewro. Minkejja li ©iet imwieg˙da appo©© li kellu jla˙˙aq mal-mitt biljun ewro, xorta wa˙da meta l-gvern Spanjol ©ie biex jissellef il-flus fis-swieq internazzjonali g˙all-˙ti©iet tieg˙u (mhux tal-banek) kien qed ji©i offrut rati ta’ mg˙ax tant g˙olja li kienu se j©ibuh f’xifer il-kollass. Is-swieq globalizzati tal-flus ma kinux qed jafdaw li Spanja, bid-djun li qed i©©orr, se tkun tista’ to˙ro© mill-problemi tag˙ha. Biex jipprote©u ru˙hom, kienu qed jitolbu mg˙axijiet dejjem og˙la.


Id-deni dwar Spanja malajr infirex lejn l-Italja. Dal-pajjiΩ ukoll beda jsib li l-img˙axijiet fuq is-self li kellu bΩonn jag˙mel fis-swieq finanzjarji qed jog˙lew b’mod li mhux se jkun jista’ jqandilhom aktar. Is-swieq finanzjarji bdew ipo©©u lill-Italja fl-istess keffa ma’ Spanja fil-kejl tas-sogru. Kienu qed jitolbu Ωieda fil-prezz tag˙hom jekk se jsellfu lill-Italja (ji©ifieri riedu mg˙ax og˙la fuq il-flus li jo˙or©u biex jixtru çedoli ta’ self Taljani). Tifhem g˙aliex il-Prim Ministru Taljan Monti rvella quddiem dis-sitwazzjoni. Bit-tmexxija “teknokratika” tieg˙u, l-Italja kienet qed twettaq il-miΩuri ta’ riforma u awsterità kollha mitluba minnha. Imma xorta wa˙da l-img˙axijiet fuq çedoli tal-gvern Taljan kienu qed jiΩdiedu bil-kbir. Anki la˙qu l-livelli ta’ Ωmien Berlusconi, ftit qabel dan, bl-imbuttatura ta’ Merkel u Sarkozy, kellu jirriΩenja minn Prim Ministru. Issa dwar Berlusconi kul˙add seta’ jg˙id li t-tort kien tieg˙u, g˙ax minflok fuq problemi ekonomiçi s˙an, kellu jikkonçentra fuq problemi ta’ nisa, problemi li wkoll iqanqlu s-s˙ana veru, imma mhux bl-istess mod. Dil-˙a©a ma tistax ting˙ad dwar Monti – bil-maqlub. U allura x’kienet ˙adet l-Italja billi bidlet il-Prim, jekk xorta re©g˙et ©iet minn fejn telqet? B˙al fi Spanja, jekk l-img˙axijiet mitluba g˙al self mill-Italja kienu se jibqg˙u g˙olja daqskemm telg˙u fl-a˙˙ar ©img˙at, il-gvern Taljan ukoll kien se jin©ieb fixxa. Sa˙ansitra l-Kançillier Merkel kellha tifhem is-sa˙˙a tal-argumenti ta’ Monti, aktar u aktar meta rat lilu u lill-Prim Ministru Spanjol Rajoy… li t-tnejn huma parti mill-istess “familja” politika tal-lemin tag˙ha (jg˙id xi jg˙id Monti)… jit˙abbu mal-President soçjalist ta’ Franza. L-iΩvilupp kien deçiΩiv g˙ax g˙all-ewwel darba fit-telenovela tal-ewro, Ωew© ekonomiji kbar inqabdu fil-kriΩi


– it-tielet u r-raba’ l-akbar fiΩ-Ωona tal-ewro. Jekk jaslu sax-xifer u jkollhom iduru g˙all-g˙ajnuna s˙i˙a taΩ-Ωona, ir-riskju kien se jikber li malajr jixpakkaw id-digi ta’ ˙arsien finanzjarju li din bniet sa issa. Dawn jikkonsistu l-aktar fil-mezzi li g˙andu l-Bank Çentrali Ewropew biex jipprovdi flus bl-ir˙is lill-banek, u fil-Fond li twaqqaf b’mod temporanju – il-Façilità Finanzjarja g˙all-Istabbiltà Ewropea – biex jag˙ti appo©© lill-pajjiΩi milquta. Wara dil-Façilità hemm fond ie˙or, akbar minnu, li se jkun permanenti u li g˙adu qieg˙ed jitwaqqaf biex jag˙mel l-istess ˙a©a b˙alu, imma b’mod aktar qawwi – il-MekkaniΩmu g˙all-Istabbiltà Ewropea. Issa Rajoy ried li Spanja ting˙ata l-g˙ajnuna li xtaqet biex tifdi l-banek tag˙ha imma ried ukoll li din l-g˙ajnuna tmur direttament lill-banek, mhux tg˙addi mill-gvern Spanjol. B’hekk il-flejjes li Spanja ti©i mislufa ma jidhrux b˙ala dejn ©did fuq il-gvern Spanjol. Inkella, dan imbag˙ad


ikollu j˙allas aktar img˙ax g˙as-self li je˙tie©lu jag˙mel – preçiΩament g˙ax id-dejn nazzjonali tieg˙u jkun og˙la. Waqt li min-na˙a tieg˙u Monti ried li l-fondi Ewropej jibdew jinda˙lu huma biex jixtru b’img˙ax “ir˙is” iç-çedoli ta’ self Taljan. Jekk ji©ri hekk, il-kalkolu tieg˙u kien li l-img˙axijiet mitluba mis-swieq g˙as-self Taljan ikollhom jaqg˙u.

MERKEL FI TNALJA

IΩ-Ωew© esi©enzi rrokkaw kontra linja li dejjem ˙adet il-Ìermanja. L-ewwel, li l-g˙ajnuniet taΩ-Ωona ewro jridu jing˙ataw biss lill-istati membri mhux lill-banek jew korpi o˙ra tag˙hom. U t-tieni li l-Bank Çentrali Ewropew jew xi fond Ewropew ie˙or m’g˙andhomx jinda˙lu direttament b’qawwa fis-swieq tal-flus biex iwieΩnu l-bejg˙ tad-dejn tal-gvernijiet. L-Italja u mag˙ha Spanja qalu li jekk tirrifjuta dan, ma kinux se jappo©©jaw il-patt dwar tkabbir u impjiegi. Ironija kbira kienet li Merkel issa kienet trid dal-patt daqskemm riedu Hollande. Fil-Ìermanja stess, biex i©©ib appo©© g˙all-politika tag˙ha dwar iΩ-Ωona ewro, Merkel kellha tag˙mel ˙afna weg˙di u kompromessi. Kellha tikkonvinçi lil Ωew© terzi tad-deputati fil-Bundestag u Ωew© terzi tas-senaturi fil-Bundesrat, is-senat ÌermaniΩ, biex jivvotaw favur it-trattati li hi kienet imbuttat flimkien ma’ Sarkozy – it-trattat li jwaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea u dak li jda˙˙al il-patt fiskali. Dwarhom it-tnejn sabet reΩistenza politika qawwija, g˙ax fil-Ìermanja s-sentiment g˙adu li l-pajjiΩ qed ikollu j˙allas g˙ad-dnubiet ta’ ˙addie˙or waqt li jitlef mill-˙elsien politiku tieg˙u.


Effettivament ©imag˙tejn ilu, Merkel çediet g˙all-pressjoni ta’ Monti u Rajoy. Meta marret lura fil-Bundestag fejn kellhom jittie˙du l-voti dwar iΩ-Ωew© trattati, sabet xita ta’ kritika tistennieha. U˙ud akkuΩawha li kienet qalbet il-poΩizzjoni ÌermaniΩa ta’ ta˙t fuq. Imma xorta rnexxielha ©©ib il-vot ta’ Ωew© terzi favur li riedet. B’hekk kul˙add ˙a dak li xtaq… jew kwaΩi… u spiçça kuntent – tal-anqas g˙al ftit taΩ-Ωmien. G˙ax dwar x’inhu ji©ri fiΩ-Ωona tal-ewro hekk trid tg˙id: isir, jew jidher li jkun qed isir progress. Imbag˙ad jer©g˙u jqumu kumplikazzjonijiet ©odda. Ftit wara li spiççat il-laqg˙a tal-mexxejja taΩ-Ωona ewro, beda jintqal li l-gvernijiet tal-Olanda u tal-Finlandja xejn ma kienu sodisfatti bid-deçiΩjonijiet me˙uda. Ûgur imma hu li l-img˙axijiet fuq self Spanjol u Taljan waqg˙u malajr wara li t˙abbru r-riΩultati tal-laqg˙a bejn il-mexxejja. Madankollu, l-istess soluzzjoni g˙al dan l-a˙˙ar tweg˙ir tista’ tqajjem inçertezzi ©odda. Fuq kollox dwar ir-regoli li bihom se jkun qed jimxi l-MekkaniΩmu g˙all-Istabbiltà Ewropea. Skont it-trattat li b˙alissa qed ji©i rratifikat mill-parlamenti nazzjonali Ewropej, dan il-MekkaniΩmu suppost jg˙in biss lill-istati membri taΩ-Ωona ewro. It-trattat jg˙id ukoll li s-self li jag˙mel il-MekkaniΩmu g˙andu jie˙u prijorità fuq kull self ie˙or li jid˙ol g˙alih stat, ˙lief meta jkun hemm self mal-Fond Monetarju Internazzjonali. Il-ftehim li sar dwar Spanja u l-Italja se jwassal biex f’çerti kaΩi dil-˙a©a ma tibqax tg˙odd. Li allura suppost ifisser li t-trattat li bih qed jitwaqqaf il-fond ta’ ˙arsien g˙aΩ-Ωona ewro, il-MekkaniΩmu g˙all-Istabbiltà Ewropea, se jkollu jer©a’ jinbidel preçiΩ fil-mument meta qed ji©i rratifikat mill-parlamenti nazzjonali.


DUBJI U SKRUTINJU SERJU

Niddubita kemm dan it-tibdil u manuvrar jistg˙u jissarrfu f’kisbiet sodi g˙aΩ-Ωona tal-ewro. Kif di©à g˙edna, ninsabu f’faΩi ©dida tal-kriΩi g˙ax involuti fiha bil-kbir issa hemm ekonomiji li g˙andhom daqs sostanzjali fiΩ-Ωona. M’hemmx dubju li l-Kançillier Merkel kellha tirrikonoxxi dil-˙a©a meta g˙amlet l-irtirata tag˙ha. Din hi faΩi tassew delikata g˙ax tista’ tiskatta f’ur©enzi ©odda anki qabel tmiem is-sajf.

***

Sadattant dil-©img˙a kien g˙addej mill-Parlament Malti abbozz ta’ li©i li jirratifika t-trattat li jwaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea u jawtorizza lill-gvern Malti jie˙u sehem fih. Kif wie˙ed seta’ jistenna, kwaΩi ˙add ma ta kas dan id-dibattitu parlamentari, anki jekk permezz tieg˙u qed nikkommettu lil pajjiΩna jo˙ro© ftit aktar minn nofs biljun ewro g˙all-fond ma˙sub biex jag˙ti appo©© lil pajjiΩi fiΩ-Ωona ewro li jibdew jog˙tru. Deher çar x’kien il-˙sieb tal-gvern g˙all-bidu: ried li ng˙addu kollox malajr malajr, qisna qed nie˙du belg˙a te biex wara l-Parlament imur g˙all-vaganzi tas-sajf. B’xorti tajba, g˙ax insistejna fuq hekk min-na˙a tal-OppoΩizzjoni, il-gvern aççetta li l-affarijiet isiru bis-serjetà. Kellna diskussjoni dettaljata dwar l-aspetti kollha tas-sehem ta’ Malta fil-MekkaniΩmu g˙all-Istabbiltà Ewropea. Ma jidhirlix li nistg˙u nibqg˙u ninjoraw l-effetti fuqna u madwarna tal-iΩviluppi politiçi u ekonomiçi li qed iqanqlu lill-pajjiΩi Ewropej kollha sa mill-g˙eruq, u li qed jo˙olqu ta˙wid kbir dwar il-munita nazzjonali tag˙na, l-ewro.

(It-Torça, 08 ta’ Lulju 2012)


16

THE ECONOMIC GOVERNANCE OF EUROPE AND DEMOCRATIC

LEGITIMACY

I am one of those who are concerned about the future stability of Europe. Increasingly this has become tied to the fate of the euro project and to the success or otherwise of policies followed to tackle the crisis that has plagued the project in recent years. Time has confirmed original misgivings about the euro. As established, it was inherently flawed. Monetary union was launched lacking the vital economic instruments – whether centralized or federalized, call them what you will – that would have made such a union coherent. The reason for this was that neither the governments nor the peoples of Europe wanted to give up their sovereignty. Moreover, the euro project took shape when affairs were increasingly determined by the growing scope and scale of globalization, with financial markets and information technology as the dominant motors of economic development. This reinforced the difficulties arising from the flaws in the

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euro zone design, at a time of global financial crisis and its aftermath. Two other developments continued to have an enduring effect on euro zone performance.

DIVERSITY AND DIVERGENCE

First it would seem that in a general sense, Europe has allowed the diversity of its productive base to shrink excessively. Under the callsign of restructuring, too wide a range of productive activities has been merrily outsourced, reducing the flexibility of national economic systems to cushion the effects of crisis. Secondly, a major target set for the euro project was to promote the convergence of the component national economies. In effect, the contrary has happened. The existence of a common currency initially served to mask divergences. Now, it is serving to highlight them. Perhaps here we have the most crucial problem of all. To defend the integrity of the euro, the zone’s decision makers have adopted a two-pronged approach. On the one hand, they have sought to enforce the principles of the Stability and Growth Pact which starting 1997, formed the conceptual basis for the euro zone’s formation. The Pact set guidelines for member states to follow in curbing budget deficits, national debt levels and inflation. It was mainly honoured in the breach. Now with the fiscal pact and the directives by which the European Commission will vet and supposedly correct national budgets, targets set by the Stability and Growth Pact are in the process of becoming mandatory. In second place, decision makers progressively

The economic governance of Europe and democratic legitimacy �51

abandoned their starting principle that national governments in financial trouble should deal with the problem expeditiously all by themselves. We are now at the stage where a permanent mechanism is being set up, worth 700 billion euros, to bail out under strict conditionality the finances of members states in trouble. Both approaches have had their share of criticism. Mandatory controls to ensure that governments balance their budgets and reduce their national debt will probably slip or become inoperative when the bigger euro zone economies are involved. Also conceptually, it is difficult to see how feasible it will be to run a monetary union in which each one of its many component parts is to maintain an internal balance. With regard to the support funds that have been set up, the criticism has been that too little was done too late.

AUSTERITY AND THE PEOPLE

Meanwhile, the peoples of Europe find themselves completely outside the decision making loops where decisions regarding the euro are being taken. Such decisions refer to financial and technical considerations that lie totally outside their interest, knowledge or experience. Yet on their basis, the lifestyles of whole strata of European society have been affected negatively by decisions taken to “defend” the euro. When governments are changed in reaction, the new administration carries on with the policies of its predecessor. Under pressure from the euro zone, it then makes them tougher. Given existing structures, euro zone governments cannot really prevent the worries about budgetary stability


from spreading. Blaming this on speculation in global financial markets contradicts the overriding ideology, to which it seems we all must subscribe, that globalization within the parameters of generalized free trade is beautiful. Inside the euro zone, the only way by which to preserve national budgetary stability is through internal devaluation. The resulting austerity is hurting many many people. Logically, the need is for the establishment of economic union to complement the monetary one. Halting and piecemeal steps are being taken to build structures that would approximate to such a development, like the present initiative to organize a so-called banking union. These moves are being justified on the grounds that if euro zone governments or their banks are given support to overcome budgetary and/or economic difficulties, then they must allow those who aid them to centrally supervise and control their conduct of affairs. Those who favour deeper political and economic integration in Europe, project what they believe is a more positive way of looking at things. They claim that to put the euro zone house in order, what is needed is “more Europe”. By this, they mean full economic union amounting to a politically federated European entity. National sovereignty would have to be given up in a big way. That would certainly solve the “technical” problem of the euro’s design. However, there is no mandate for it among the peoples of Europe. Already, the piecemeal steps that have been attempted – vital though they were given current circumstances – lack democratic legitimacy. They were rammed through national legislatures on a take it, you can’t leave it, basis. They have created huge popular resistance among citizens in countries


where economic performance was non-problematic, because they considered their tax money was being diverted to subsidize undisciplined big spenders. And correspondingly, citizens in countries where austerity programmes have been imposed in return for being bailed out have protested widely because social justice and fairness are being destroyed.

INADEQUATE DEMOCRACY

Existing EU structures are not providing democratic legitimacy. The intergovernmental nodes at the levels of European Council, Council of Ministers and eurogroup are rightly seen as slow to react to events in global markets. Their responses are likely to be contradicted and changed within months, if not weeks. The European Commission and its President, as well as the President of the European Union, function mainly as the high representatives of a technocratic black box. Their frequent calls for the adoption of a so-called “Community” method sound incongruous. And with all respect, the European Parliament is having little relevance in bringing democratic legitimacy to European economic governance, least of all – for obvious institutional reasons – where euro zone matters are concerned. Indeed, it may have been a mistake to separate some years back, the European Parliament structurally from national parliaments. Nor have the latter been bringing democractic intelligibility or legitimacy to economic governance. If intergovernmental structures have been simply responding to the pressures of financial markets, national parliaments – as already said – have mainly been cast in the role of


endorsing decisions taken centrally, frequently when such decisions are already being overtaken by events. So, what should be done? Clearly, there is no magic painless solution. For instance, the frequently cited proposal of mutualizing state debt within the euro zone should carry wideranging political implications if it is to make sense. It would have to follow from a further substantive erosion of national sovereignty through federalization of economic decision making. It does not make sense for countries which would have to pay higher interest rates on “their” debt under mutualization, to let others which will benefit by paying lower interest rates continue to have a free hand with lax budgetary policies. Still, it is doubtful whether mutualization of national debt would resolve the dilemmas set by the euro crisis. The


deeper problem will remain: within the zone are grouped national entities which have widely diverging economies. These are now being accommodated within existing EU structures, even if with some difficulty. In a monetary union operating in the context of globalised markets, such an accommodation cannot but be subject to ongoing instabilities. Effectively, the euro zone as at present configured is not an optimum monetary area.

ROOT AND BRANCH REVIEW

So what should be done to make economic governance democratically legitimate? If things were to be done transparently, a root and branch review of the euro zone project would need to be carried out. All options would need to be considered, including that of determining what the boundaries of the euro zone as an optimal monetary area could be, subject to further expansion at a later stage. For if the parameters that define the euro project fail to make economic sense, then any political arrangements meant to provide legitimacy will remain ineffective. There would have to be a rethink leading to consensus, about how political legitimacy can be constituted, both within a redefined euro zone and within the wider European Union. Some of the ideas that have been mentioned, like electing directly the President of the Union seem to me to be half baked, unless it is being proposed that he would be vested with powers equivalent to that to the US president. But as far as I can tell, there is no constituency for such a change in most European countries. In any event, the reality is that the euro zone project


remains a political project, designed and implemented by a European elite which is committed at all costs to maintain it. Worries about democratic legitimacy are marginal to its concerns, as has been shown over the years when proposals like the European constitution were voted out. This elite considers the euro project as an indispensable instrument by which to achieve full political and economic integration in Europe. Indeed, the call for “more Europe” would seek to turn the euro crisis into a new opportunity for further political integration. As a result, it is likely that the euro zone crisis will continue to be managed by muddling through. In the context of globalization and given its internal divergences, this could continue to undermine the euro zone’s growth potential. Meanwhile, political leaders will have to ride through mounting popular dissent at the consequences of the internal devaluations made necessary by the logic of the zone’s architecture. This is why I share the concerns of those who fear that Europe could be entering an unwelcome phase of instability.

(Paper read at the European Public Law Organization Conference, 20 July 2012; Malta Independent on Sunday, 29 July 2012)


17

L-EWROPA F’SALIB IT-TOROQ... IMMA ILHA HEMM

Fil-kapitali Ewropej infirex sens ta’ ser˙an mill-inkwiet Ωejjed malli ˙are© ir-riΩultat tal-elezzjoni li l-Óadd li g˙adda nΩammet fil-Greçja, g˙at-tieni darba fi Ωmien qasir. Deher li jista’ jitwaqqaf gvern f’Ateni li mhux se jiç˙ad il-ftehim li l-Greçja ffirmat mal-pajjiΩi taΩ-Ωona ewro biex dawn isellfuha l-flus ˙alli to˙ro© mill-isqaq finanzjarju u ekonomiku li da˙let fih fl-a˙˙ar erba’ snin jew aktar. Fil-fatt, koalizzjoni ta’ gvern twaqqfet ta˙t il-Partit tad-Demokrazija l-Ìdida mmexxi minn Antonis Samaris. Dan reba˙ ma©©oranza relattiva çkejkna fil-Parlament Grieg (meg˙jun mill-50 si©©u aktar li ng˙ata skont il-kostituzzjoni Griega talli l-partit tieg˙u ©ie quddiem l-o˙rajn). Kemm il-partit ta’ Samaris u kemm il-PASOK li ng˙aqdu fil-koalizzjoni ja˙tu bil-kbir g˙all-problemi enormi li l-Greçja qed taffaççja llum, min˙abba l-flejjes kbar li berbqu matul is-snin img˙oddija li kienu fil-gvern. Il-koalizzjoni ©dida issa se tinnegozja maΩ-Ωona tal-ewro biex il-ftehim ta’ self u awsterità li jeΩisti mal-Greçja jit˙affef xi ftit imma jibqa’ fis-se˙˙.

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Ma tlumx lill-mexxejja taΩ-Ωona ewro li ˙adu gost bir-riΩultat. Kieku ©ara mod ie˙or u minn fuq spiçça l-partit xellugi s-SiriΩa, il-Greçja kienet se tiç˙ad il-ftehim, bl-obbligi kollha li dan da˙˙al lill-pajjiΩ fihom – obbligi ta’ ssikkar taç-çinturin li ˙afna Griegi ma jistg˙ux jifil˙u aktar. Ekonomikament u soçjalment, il-pajjiΩ i©©ammja. G˙al erba’ snin wara xulxin, jekk mhux aktar, l-ekonomija Griega baqg˙et tiçkien, b’konsegwenzi koroh g˙al dawk is-saffi tas-soçjetà li l-anqas g˙andhom protezzjoni.

X’SE JSIR MILL-FTEHIM GRIEG?

Il-gvernijiet taΩ-Ωona ewro li sellfu lill-Greçja baqg˙u jistennew li din issostni l-impenji mag˙hom li da˙let g˙alihom. Huma li kienu ˙ar©u flejjes kbar biex “isalvaw” lill-Greçja – fosthom il-gvern Malti – kienu bdew jaffaççjaw kritika interna dejjem akbar, g˙ax sellfu lil pajjiΩ li se jfalli. Qam tgergir kbir fil-pajjiΩi tal-ewro g˙ax, skont ma ntqal, ˙afna mill-weg˙di li l-gvern Grieg kien g˙amel biex jing˙ata self g˙al darba tnejn miΩ-Ωona ewro u mill-Fond Monetarju Internazzjonali baqg˙u ma twettqux. Il-˙ala u n-nuqqas ta’ serjetà fil-©bir tat-taxxi kien baqa’ g˙addej. G˙alhekk, id-diskors dwar li l-Greçja se jkollha titlaq miΩ-Ωona ewro nfirex b˙al qatt qabel. Imma m’hemmx dubju li, fl-istess waqt, meded s˙a˙ tal-poplu Grieg minn fost il-klassijiet tan-nofs, fost il-˙addiema manwali u fost il-pensjonanti kienu qalg˙uha bil-kbir fit-t˙addim tal-ftehim ta’ self maΩ-Ωona ewro. Effettivament meta wie˙ed janalizza sew ir-riΩultati elettorali tal-Óadd li g˙adda, isib li kwaΩi 55 fil-mija tal-elettorat hu kontra l-ftehim ta’ self. Minkejja dan, fil-Greçja nnifisha anki l-partiti li riedu

L-Ewropa f’salib it-toroq... imma ilha hemm �59

jiç˙du l-ftehim bl-awsterità li ©ab mieg˙u, baqg˙u jsostnu li ma ridux jo˙or©u lill-Greçja miΩ-Ωona ewro. St˙arri© tal-opinjoni pubblika baqa’ juri li ma©©oranza sostanzjali tal-poplu Grieg riedet li l-ewro jinΩamm. Kif dan seta’ jkun kompatibbli ma’ ça˙da tal-ftehim ta’ self u “riforma” iffirmat maΩ-Ωona ewro, ˙add ma qal. Sa minn meta t˙abbru r-riΩultati elettorali Griegi, il˙na ewlenin fil-Ìermanja u f’pajjiΩi o˙ra taΩ-Ωona, kif ukoll mill-Fond Monetarju Internazzjonali, ˙ar©u jg˙idu li ftit li xejn seta’ jinbidel mill-arran©ament finanzjarju li kien sar mal-Greçja. Il-Fond Monetarju sostna li se jkun hemm bΩonn ta’ spezzjoni ©dida tal-qag˙da ekonomika u finanzjarja tal-Greçja peress li fl-a˙˙ar ©img˙at ta’ tqanqil politiku twaqqfet il-˙idma ta’ sorvelja u monitera©©. Kien il-Ministru


tal-Affarijiet Barranin ÌermaniΩ Westerwelle li l-aktar feta˙ xaqq ta’ dawl dwar xi kompromess possibbli. Hu qal li forsi l-kundizzjonijiet tal-ftehim mal-Greçja setg˙u jittaffew billi çerti miri jintla˙qu fuq medda itwal ta’ Ωmien. O˙rajn wara qalu b˙alu. Madankollu diffiçli tifhem kif il-qag˙da fil-Greçja tista’ ti©i mwittija bla ma jkun hemm aktar tweg˙ir, ting˙aΩel liema triq ting˙aΩel. Saffi privile©©ati tas-soçjetà g˙ad g˙andhom sa˙˙a kbira meta ji©u biex i˙arsu l-interessi tag˙hom, waqt li s-saffi soçjali tan-nofs u dawk bi d˙ul baxx qed jitilfu kull tama. Fl-a˙˙ar elezzjoni, partit tal-lemin estrem irnexxielu jid˙ol fil-Parlament. Il-qag˙da politika u soçjali se tibqa’ spluΩiva. U l-a˙˙ar ©img˙at servew biex il-bixra tal-opinjoni pubblika Ewropea tibbies “kontra” l-Greçja.

IL-PROBLEMI TA’ SPANJA

Fil-verità, il-kriΩi Griega bdiet ukoll tintefa’ fid-dell mill-kriΩi l-o˙ra ta’ pajjiΩ ferm akbar, Spanja. Dil-kriΩi qed tissejja˙ bankarja, imma l-problemi Spanjoli jmorru ˙afna aktar bog˙od minn hekk. L-ekonomija ilha sta©nata, b’rata rekord ta’ qg˙ad fost iΩ-Ωg˙aΩag˙. Mo˙bi wara d-defiçit finanzjarju tal-gvern çentrali Spanjol, hemm ˙ofor finanzjarji o˙ra m˙affra mill-gvernijiet re©jonali li issa bdew jo˙or©u fid-dieher. Il-borma faret, veru, min˙abba li f’daqqa, il-banek kbar Spanjoli ma setg˙ux ila˙˙qu aktar mal-obbligi finanzjarji li kienu ©emmg˙u tul is-snin. Naturalment, il-˙idma enormi ta’ kif dawn il-banek se jinΩammu fil-wiçç waqg˙et fuq spallejn il-gvern Spanjol, immexxi mill-Prim Ministru Rajoy li ftit tax-xhur ilu reba˙ l-elezzjoni ©enerali Spanjola b˙ala kap tal-partit lemini.


Malajr deher li se jkollu saram kbir biex isib il-fondi me˙tie©a. Aktar u aktar g˙ax, minn ©img˙a g˙all-o˙ra, bdew ̇ er©in stejjer ©odda dwar it-ta˙wid fil-banek Spanjoli, mg˙aff©a ta˙t il-kollass tal-prezzijiet tal-bini u proprjetà, fejn kienu investew bil-qawwa. Il-gvern Spanjol stinka biex jevita li jdur fuq il-pajjiΩi “s˙abu” taΩ-Ωona ewro. Xejn ma ried li jispiçça mli©©em b˙all-Greçja u l-Irlanda bi programm ©did ta’ awsterità. Madankollu baqg˙et tiΩdied fuqu l-pressjoni biex jitlob g˙ajnuna Ewropea, mhux l-anqas mill-Ìermanja. Il-kollass tal-banek Spanjoli seta’ jaffettwa bil-kbir il-banek ÌermaniΩi. Hekk kien ©ara wkoll fil-kaΩ tal-Portugall. Idur fejn idur, il-gvern ta’ Rajoy kien se jkollu jissellef ammonti kbar li kienu mbag˙ad se jidhru b˙ala Ωieda sostanzjali fid-dejn nazzjonali Spanjol. Hu ried li anke dil-˙a©a jevitaha. F’daqqa imma – ©imag˙tejn ilu, Rajoy kellu jçedi. Spanja sabet li meta tmur tissellef il-fondi fis-swieq tal-flus, kien qed ikollha taççetta mg˙axijiet tant g˙oljin li kienu se jo˙onquha. Self miΩ-Ωona ewro tal-anqas seta’ ji©i b’img˙ax “ra©onevoli”. U nstab mezz kif inparti jsalvaw wiçç il-Prim Ministru Spanjol. F’video conference bejn il-ministri tal-finanzi taΩ-Ωona ewro ddiskutew x’se jag˙mlu jekk ji©u quddiem talba minn Spanja ˙alli ting˙ata appo©© finanzjarju g˙as-salvata©© tal-banek tag˙ha. U t-twe©iba billejl fis-Sibt ta’ ©imag˙tejn ilu kienet li, jekk issir it-talba Spanjola, iΩ-Ωona ewro se tkun lesta to˙ro© sa mitt biljun ewro f’self mill-fondi li g˙andha (l-aktar il-Façilità g˙all-Istabbiltà Finanzjarja Ewropea) u mill-fond li se jkollha dalwaqt (il-MekkaniΩmu g˙all-Istabbiltà Ewropea). Baqa’ mhux çar ta˙t liema kundizzjonijiet dan kien se ji©ri. Il-gazzetti u l-midja l-o˙ra Spanjoli minnufih qalu li


se jkun self b’img˙ax ta’ 3 fil-mija. Il-gvern Spanjol qal li s-self messu jing˙ata direttament lill-banek. Imma ˙are© çar li le: l-Ewropej riedu – u l-aktar il-ÌermaniΩi – li s-self isir direttament lill-gvern, anke jekk dan kien se jg˙ollilu bil-goff iç-çifra tad-dejn nazzjonali. Intqal ukoll li s-self kien se jo˙ro© ming˙ajr ma ji©u imposti kundizzjonijiet ©odda ta’ awsterità fuq il-gvern Spanjol, peress li dan di©à qed isegwi programm maqbul mal-Kummissjoni Ewropea dwar kif id-defiçit tieg˙u se jin©ieb konformi mar-regoli tal-Unjoni Ewropea u taΩ-Ωona ewro. Kienet ˙a©a bla preçedent li impenn ta’ dan il-kobor jing˙ata daqshekk f’tebqa ta’ g˙ajn. L-istennija kienet li, b’hekk, is-swieq finanzjarji se jimpressjonaw ru˙hom bl-appo©© mog˙ti lil Spanja u se jibdew jitolbuha mg˙axijiet içken meta jsellfuha l-flus. Madankollu, id-dettalji dwar x’se jkunu l-kundizzjonijiet tal-“g˙ajnuna” lil Spanja baqg˙u ma ng˙atawx. U qam il-punt li jekk Spanja kienet se ting˙ata kundizzjonijiet ˙anina, mela l-istess messu jsir mal-Irlanda, il-Greçja u l-Portugall. Il-buΩillis kien dan: is-swieq finanzjarji minflok impressjonaw ru˙hom kif mistenni, kwaΩi minnufih re©g˙u g˙ollew mhux naqqsu l-img˙axijiet li bdew jesi©u g˙ax-xiri ta’ çedoli ta’ self Spanjol. Biex tg˙axxaqha, l-istess ˙a©a bdiet ti©ri dwar l-Italja, li qed titqies li g˙andha problemi li, jekk mhumiex b˙al ta’ Spanja, jistg˙u jkunu gravi daqs tag˙ha. Bosta analisti finanzjarji u l-konsulenti ta’ gvernijiet qed jistaqsu kemm il-qafas taΩ-Ωona ewro jista’ jilqa’ g˙all-problemi ta’ ekonomiji kbar b˙al Spanja u l-Italja. Nhar il-Óamis li g˙adda, Spanja ressqet formalment it-talba g˙all-g˙ajnuna. Min-na˙a tag˙ha, il-Kançillier Merkel kellha tag˙milha çara li min ja˙seb li l-Ìermanja g˙andha riΩorsi


biΩΩejjed biex tilqa’ g˙all-ag˙ar li jista’ jinqala’ fiΩ-Ωona ewro, qed jiΩbalja bil-kbir. Na˙seb li f’dan, Merkel g˙andha ra©un.

XILQUGÓ HEMM?

Effettivament b˙ala Ωona, fejn jinsabu sa issa l-istrutturi ta’ lqug˙ finanzjarju li nbnew? Hemm l-istrutturi ta’ sorvelja u d-direttivi m˙addma mill-Kummissjoni Ewropea li ©ew imsa˙˙a s-sena li g˙addiet, dwar kif gvernijiet Ewropej, imma l-aktar dawk taΩ-Ωona ewro, iridu jikkontrollaw id-defiçit fil-ba©it tag˙hom u d-dejn nazzjonali. Il-Kummissjoni tista’ tordna lill-gvernijiet kif g˙andhom jibdlu l-ba©it tag˙hom biex ikunu konformi mar-regoli Ewropej ta’ tmexxija finanzjarja retta. Il-Kummissjoni issa qed tag˙mel hekk b’sa˙˙a akbar, kif rajna ftit xhur ilu meta hi ordnat lill-gvern Malti biex inaqqas l-istimi tieg˙u g˙all-ba©it ta’ dis-sena b’40 miljun ewro u l-gvern kellu jbaxxi rasu. Hemm imbag˙ad il-patt fiskali, li l-Ìermanja mbuttat tard is-sena li g˙addiet. Dan se jorbot lill-pajjiΩi taΩ-Ωona ewro b’regoli dejjem aktar iebsa dwar kif jikkontrollaw u jnaqqsu l-ispiΩa u d-dejn nazzjonali tag˙hom. Se jobbligahom li jda˙˙lu fil-kostituzzjoni tag˙hom xi forma ta’ impenn dwar hekk. Il-patt g˙adu jrid ji©i rratifikat mill-firmatarji, ˙lief g˙al xi ˙amsa, bl-Irlanda li ssottomettietu g˙al referendum fejn ©ie approvat (Malta g˙adha ma rratifikatux). Hemm il-fondi li qed jintuΩaw biex jiffinanzjaw l-appo©© lill-pajjiΩi membri taΩ-Ωona ewro li jispiççaw daharhom mal-˙ajt. B˙alissa, l-aktar fond attiv hu dak li di©à semmejna – il-Façilità g˙all-Istabbiltà Finanzjarja Ewropea, li kien ma˙sub biex jopera g˙al ftit taΩ-Ωmien biss. Il-˙sieb


hu li minfloku jid˙ol fond permanenti ©did, imsejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea,permezz ta’ trattat li qed ji©i rratifikat mill-pajjiΩi firmatarji. Il-gvern Malti qed jg˙id li se jtella’ dal-ftehim quddiem il-Parlament dil-©img˙a g˙ar-ratifika. Fejn l-ewwel fond kien ©ie ffinanzjat permezz ta’ garanziji mill-istati membri tal-ewro, il-MekkaniΩmu se jinvolvi l-˙ru© ta’ kapital mill-pajjiΩi membri – preçiΩament g˙ax il-˙sieb hu li dan jopera b˙ala fond permanenti. Ftit jemmnu li l-ilqug˙ li g˙andu b˙alissa l-ewro hu biΩΩejjed g˙all-g˙aw© li g˙ad jista’ jinqala’. Dwar x’g˙andu jsir, baqg˙u jo˙or©u patafjun ta’ ideat, imma ftit minnhom twettqu, jew twettqu fil-waqt. Hemm min isostni li tul kemm ilha g˙addejja l-kriΩi, l-“Ewropej” urew inkoerenza liema b˙alha. Dan g˙ax ipproklamaw g˙anijiet mill-aktar ambizzjuΩi g˙all-pro©ett tal-ewro, imma mbag˙ad meta ©ew biex iwettqu l-mezzi li setg˙u jla˙˙qu ma’ dawn l-g˙anijiet, baqg˙u lura.

BEJN TOND U KWADRU

Fl-istess ˙in, b˙ala munita, l-ewro issa jinsab injettat fl-arterji u fil-qalb tas-sistema finanzjarja Ewropea. Jekk il-munita jkollha tiΩΩarma mil-lum g˙al g˙ada, dan jista’ jfisser ir-rovina ta’ miljuni u miljuni ta’ familji u negozji, Ωg˙ar u kbar. Min-na˙a l-o˙ra, meta l-popli u l-gvernijiet qed jag˙mlu s-somom dwar kemm lesti j˙allsu biex iΩommu l-ewro fil-wiçç, qed jitmeΩmΩu bil-kbir huma u jaraw il-kont. Hemm paradoss ie˙or fil-biçça. Politikament, l-idea ta’ g˙aqda Ewropea qalg˙et daqqa kbira fl-a˙˙ar tliet snin fost il-popli Ewropej. X’aktarx li hu f’Malta biss li g˙adna


nisimg˙u mil-lemin antikwat ta’ dal-pajjiΩ, il-pani©ierki dwar Robert Schumann u kif bl-eΩistenza tag˙ha l-Unjoni Ewropea warrbet it-theddida ta’ gwerra li tebbg˙et l-istorja moderna tal-Ewropa minn Ωmien Napuljun lil hawn. Id-diskussjoni fi ̇ dan il-©enerazzjonijiet Ewropej tal-lum dwar x’tip ta’ Ewropa g˙andha tinbena, ilha li mxiet ’il quddiem minn din il-viΩjoni arkajka, g˙alkemm il-lemin Malti baqa’ ma indunax b’dil-˙a©a. Hu x’inhu, jekk l-idea tal-g˙aqda Ewropea qalg˙et daqqa ’l isfel fost il-popli Ewropej, mhux l-istess jista’ jintqal dwar l-idea tal-ewro. In-nies g˙adha trid lill-ewro!... jew hekk jidher. Di©à semmejna kif il-Griegi fil-ma©©oranza tag˙hom ma jridux jitilqu l-ewro. Hux eΩempju ie˙or dan ta’ kif aspett ewlieni tal-©enju Ewropew minn Platun sa Ωminijietna kien jikkonsisti fi sforz ma jaqta’ xejn biex it-tond jitgawda fl-istess nifs mal-kwadru? ...X’aktarx madankollu li a˙jar in˙allu dil-kwistjoni f’idejn l-editur tat-Torça Aleks Farrugia biex jorganizza xi forum storiku-filosofiku dwarha. Fiç-çirkostanzi tal-lum hu Ωgur dan: l-Ewropa u l-ewro jinsabu f’salib it-toroq, imma ilhom hekk g˙al Ωmien sew di©à.

(It-Torça, 24 ta’ Lulju 2012)


18

IS-SAJF TAL-EWRO

Awwissu hu x-xahar li matulu ˙afna mill-mexxejja politiçi u ekonomiçi taΩ-Ωona ewro jitilqu g˙all-vaganzi. Il-©rajjiet li jqanqlu kontroversja jkunu mistennija li jbattu. Waqt li qed jinkiteb dan, hekk deher li qed ji©ri fl-Awwissu li ninsabu fih. L-a˙barijiet dwar l-inkwiet tal-Greçja jew ta’ Spanja ma ˙adux rankatura u kienu dominati mir-riΩultati tal-Log˙ob Olimpiku u mill-gwerra çivili fis-Sirja. Madankollu, baqg˙u jtektku çerti Ωviluppi li jorbtu ma’ x’kien g˙addej fl-a˙˙ar xhur. Huma Ωviluppi li se jo˙olqu mew© qawwi mal-bidu tal-˙arifa li jmiss... jekk mhux qabel. Fuq kollox, baqg˙et tinfirex klima ta’ inçertezza u ta’ dubju dwar kif qed jitmexxew l-affarijiet fiΩ-Ωona ewro. Ta’ min jg˙id li l-inçertezza Ωdiedet mhux biss dwar l-ewro, imma wkoll dwar kif qed jitmexxa l-kapitaliΩmu mondjali.

IL-GLOBALIZZAZZJONI KAPITALISTA

Kemm-il darba f’dawn il-kitbiet dwar il-kriΩi fiΩ-Ωona tal-ewro, semmejna kif je˙ti©ilna nifhmu li t-t˙addim tal-ewro bl-istrutturi difettuΩi tieg˙u qed ise˙˙ f’qafas ta’ globalizzazzjoni.

�66

Is-sajf tal-ewro �67

Id-dinja, aktar ma jg˙addi Ω-Ωmien, aktar qed issir suq wie˙ed. Huma l-banek u d-diri©enti tal-flus im©emmg˙in mad-dinja kollha li saru l-mutur tas-suq wie˙ed globali. G˙andhom is-sa˙˙a tal-flejjes enormi li jikkontrollaw. Fost miΩuri o˙ra, huma jiddeçiedu dwar l-img˙axijiet g˙all-fondi li jisilfu jew jissellfu, u dwar il-kundizzjonijiet li ta˙thom isellfu jew jissellfu. Suppost li dan kollu ji©ri skont il-kalkoli li wie˙ed jag˙mel f’suq ˙ieles bejn dak li jixtieq jit˙allas min ibig˙, u dak li lest joffri min se jixtri. Mentri nstab li fis-suq ewlieni tal-banek f’Londra, imbag˙ad fis-swieq tal-flus tal-ewro fost o˙rajn... u jien ng˙id anki fis-swieq tad-dollaru... il-banek il-kbar kienu qed jiftiehmu bejniethom biex jissettjaw l-img˙axijiet skont kif jaqblilhom. Din is-sejba mminat il-fiduçja, li di©à kienet imnaqqra sew, fil-mod kif qed jitmexxew l-affarijiet. Ir-riedni tat-tmexxija ekonomika mad-dinja t˙allew f’idejn id-diri©enti tal-banek li qed jit˙allsu salarji kolossali. Minn Ωmien il-kriΩi tas-sena �008 lil hawn, instab li dawn kienu inkompetenti, imprudenti, rg˙iba u, minkejja l-arroganza tag˙hom, xorta jistennew li l-gvernijiet jo˙or©u l-flejjes biex isostnuhom malli jkunu se jfallu bil-kbir. Issa nstab ukoll li l-istess nies kienu korrotti fit-t˙addim tar-regoli suppost o©©ettivi tal-kapitaliΩmu, imsejsa fuq il-prinçipji tas-suq ˙ieles. Nemmen li dan l-iΩvilupp (li g˙andu importanza bla qies fir-rigward ta’ kif il-popli se jqisu t-tmexxija ekonomika u finanzjarja tad-dinja) se jkollu wkoll effett qawwi, anki jekk mo˙bi, fuq id-destin tal-ewro. Se jaffettwa l-mod kif investituri jiΩnu l-miΩuri li jippreΩentawlhom biex isostnu l-fiduçja f’pajjiΩ. U se jkollu rabta mal-mod kif g˙al li ©ej, çittadini u familji Ewropej se jqisu s-sagrifiççji ta’ ça˙da u awsterità li ji©u imposti fuqhom g˙al darba wara l-o˙ra.


Sadattant, jidher li g˙ad baqa’ Ωmien sew li matulu l-Ewropej se jkollhom jimxu mat-triq taç-ça˙da – tal-awsterità, minkejja l-problemi politiçi u soçjali li qieg˙da to˙loqilhom. Naraw issa f’rassenja fuq fuq, x’inhu ji©ri mad-diversi fronti tal-kriΩi tal-ewro.

IL-MEKKANIÛMU GÓALL-ISTABBILTÀ EWROPEA

Il-fond kbir permanenti biex i˙ares lill-pajjiΩi membri taΩ-Ωona ewro minn problemi finanzjarji kellu jitwaqqaf fil-bidu ta’ Lulju. Imma g˙adha tonqsu r-ratifika tal-Ìermanja li ming˙ajrha ma jista’ jsir xejn. Il-Qorti Kostituzzjonali ÌermaniΩa ©iet mitluba tag˙ti ˙aqq dwar kemm dan il-Fond – imsejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea – hu kompatibbli mas-sovranità tal-pajjiΩ. Il-Qorti g˙andha tag˙ti sentenza f’Settembru. Fl-istess ̇ in, qamet diskussjoni dwar jekk il-MekkaniΩmu g˙andux jing˙ata liçenzja biex jopera b˙ala Bank ̇ alli jkun jista’ jg˙in direttament lill-istati taΩ-Ωona ewro billi jixtri ç-çedoli ta’ self (“bonds”) li huma jo˙or©u. B’hekk, jitraΩΩnu l-img˙axijiet g˙olja li çerti gvernijiet jintalbu j˙allsu g˙as-self tag˙hom. Il-Ìermanja – li lanqas trid li l-Bank Çentrali Ewropew jag˙mel dan – xejn mhi tie˙u gost. Hemm sentiment qawwi fil-Ìermanja li din il-miΩura tixpruna l-g˙oli tal-prezzijiet u tinkora©©ixxi t-tmexxija irresponsabbli tal-fondi pubbliçi. Mhuwiex sentiment Ωbaljat sa barra.

SPANJA

Fis-summit Ewropew ta’ Ìunju, Spanja ming˙aliha li kienet ©abet g˙ajnuna ta’ xi 100 biljun ewro. Din kellha tmur direttament g˙as-salvagwardja tal-banek tag˙ha, ming˙ajr


ma torbot lill-pajjiΩ b’kundizzjonijiet ©odda ta’ awsterità.Mhux biss il-fondi mwieg˙da damu biex ji©u Ωblukkati, talli biex jin˙ar©u kellhom ji©u negozjati kundizzjonijiet dettaljati marbuta ma’ kif jistg˙u jintuΩaw. Ter©a’, xorta wa˙da, ftit wara li ttie˙det id-deçiΩjoni biex l-g˙ajnuna ting˙ata lil Spanja, meta din marret fis-swieq finanzjarji biex tissellef, re©g˙et bdiet ti©i ççar©jata mg˙axijiet g˙olja wisq. Id-diri©enti tas-swieq mhumiex jemmnu li l-finanzi u l-banek ta’ Spanja huma sodi biΩΩejjed. Biex tg˙axxaqha, il-gvernijiet re©jonali tal-pajjiΩ, li g˙andhom awtonomija mill-gvern çentrali, bdew jiddikjaraw li kellhom problemi finanzjarji kbar. U˙ud minnhom daru fuq il-gvern çentrali biex jitolbuh g˙ajnuna ©dida. F’dawn iç-çirkostanzi, il-Prim Ministru Rajoy kellu jwarrab kull stqarrija li kien g˙amel qabel, u jibda jikkonsidra bis-serjetà li jag˙mel talba formali liΩ-Ωona ewro ˙alli tag˙ti lil pajjiΩu pakkett s˙i˙ ta’ appo©© finanzjarju. Jekk jag˙mel dit-talba, se jkollu jaççetta miΩuri aktar qawwija ta’ ssikkar taç-çintorin fi Ωmien meta qed jinfirxu protesti kbar kontrihom ma’ Spanja kollha.

L-ITALJA

It-tweg˙ir Spanjol qed ikollu effett ikrah fuq l-Italja. Ta˙t it-tmexxija tal-Prim Ministru Monti din bdiet idda˙˙al ˙afna mir-“riformi” mixtieqa miΩ-Ωona tal-ewro u li kienu mitqiesa b˙ala essenzjali biex l-Italja tikseb il-fiduçja tas-swieq. Ìara iΩda li fis-swieq finanzjarji, il-kaΩ tal-Italja beda jintrabat ma’ dak ta’ Spanja. L-img˙axijiet mitluba mis-swieq g˙as-self li riedet tag˙mel l-Italja bdew anki jaqbΩu l-livelli li ntalbu fi Ωmien Berlusconi. Monti mexxa kampanja fil-pajjiΩi tal-ewro biex il-Bank


Çentrali Ewropew u l-fondi l-o˙ra taΩ-Ωona ewro jibdew jixtru l-“bonds” tal-pajjiΩi membri taΩ-Ωona. B’hekk biss, sostna, setg˙u jitraΩΩnu l-img˙axijiet fuq self tal-gvernijiet. Ma tantx ing˙ata wiçç. Monti – mhux wa˙du – jinsab imdejjaq bid-dewmien biex il-MekkaniΩmu g˙all-Istabbiltà Ewropea jid˙ol fis-se˙˙. Qanqal l-argument li l-gvernijiet tal-ewro g˙andu jkollhom is-sa˙˙a li jwettqu minnufih id-deçiΩjonijiet tag˙hom, mhux ikollhom “ja˙lu” Ω-Ωmien jiddiskutu mal-Parlamenti tag˙hom. Dwar dan, qamet maltempata kbira kontra tieg˙u fil-Ìermanja. Ìie mixli li jrid ikompli jimmina d-demokrazija parlamentari kif ipprattikata fl-Ewropa. Sadattant qed tinfirex il-fehma li l-Italja wkoll mhux se tkun tista’ tevita li titlob l-g˙ajnuna s˙i˙a (jew bailout) taΩ-Ωona ewro.

L-IRLANDA

Wara li l-MekkaniΩmu g˙all-Istabbiltà Ewropea kien ©ie approvat b’referendum mill-IrlandiΩi, ittella’ rikors quddiem il-Qorti Kostituzzjonali tal-pajjiΩ biex din tiddikjara li l-parteçipazzjoni IrlandiΩa f’dal-fond kienet se tmur kontra l-kostituzzjoni. Ir-rikors ©ie miç˙ud. Fl-istess Ωmien, g˙all-ewwel darba wara xi tliet snin, il-gvern irnexxielu jer©a’ jid˙ol fis-swieq finanzjarji biex jissellef b’rata ta’ mg˙ax “ra©onevoli”. Dan tqies b˙ala sinjal li, wara s-sagrifiççji enormi tal-poplu, l-Irlanda bdiet tirkupra mill-kriΩi finanzjarja li ˙akmitha fl-a˙˙ar snin.

IL-GREÇJA

TeΩisti l-akbar konfuΩjoni dwar fejn waslet il-Greçja bil-miΩuri u l-impenji li ˙adet u qed tie˙u biex tkun konformi mal-


esi©enzi taΩ-Ωona ewro u tal-Fond Monetarju Internazzjonali meta dawn qablu li jsellfuha l-biljuni tal-ewro ˙alli ΩΩomm fil-wiçç. Jidher li l-esperti taΩ-Ωona ewro, tal-Bank Çentrali Ewropew u tal-Fond Monetarju Internazzjonali (it-“trojka”) mhumiex jemmnu dak li qed jg˙idilhom il-gvern Grieg (mag˙mul issa minn koalizzjoni bejn tliet partiti). Hu gvern li jinsab dahru mal-˙ajt quddiem ir-rabja u l-apatija dejjem jikbru fost il-poplu Grieg min˙abba l-awsterità imposta fuqu bla wisq riΩultati poΩittivi. Wasalna fl-istadju fejn anki l-akbar attivisti pro-Ewropa – b˙ad-direttur tal-a©enzija tal-a˙barijiet dwar l-Unjoni Ewropa, Europe – qed jistqarru li ma baqa’ l-ebda alternattiva ˙lief li l-Greçja to˙ro© miΩ-Ωona ewro. Il-President tal-ministri tal-finanzi taΩ-Ωona, il-grupp tal-ewro, il-Prim Ministru Juncker tal-Lussemburgu, sa˙ansitra kien lest jg˙id li t-tluq tal-Greçja mill-ewro tista’ titwettaq skont pjan fattibbli.

L-ISTATI UNITI

Hemm min se ja˙seb: x’g˙andhom x’jaqsmu l-Istati Uniti tal-Amerika mal-problemi taΩ-Ωona ewro? Ir-rabta ©ejja minn dan: f’dinja globalizzata, fejn iΩ-Ωona ewro hi wa˙da mill-akbar swieq tad-dinja, jekk hi timrad, il-mard tag˙ha jinfetta lill-bqija. It-tama tal-mexxejja fiΩ-Ωoni ekonomiçi kollha – inkluΩa ç-Çina – hi li l-ekonomiji l-kbar ma jibqg˙ux sta©nati imma jer©g˙u jirrankaw ˙alli jo˙olqu negozju u impjiegi. Min˙abba l-kriΩi tag˙ha, iΩ-Ωona ewro qed tfixkel bil-kbir dan il-g˙an. Is-Segretarju tat-TeΩor Amerikan Tim Geithner qasam l-Atlantiku biex jiltaqa’ mal-Ministru tal-Finanzi ÌermaniΩ Schauble fejn dan kien g˙all-vaganzi tas-sajf. Qallu li Ω-


Ωona ewro ˙ti©ilha tkun aktar soda u m˙arrka fil-miΩuri li tie˙u, jekk se to˙ro© mill-kriΩi. Fil-fatt, dan hu l-istess argument ta’ Monti. Jin˙ass b˙ala kritika tal-Ìermanja. Wara, mhux bla ra©un, kummentaturi ÌermaniΩi qalu kif l-interess tal-amministrazzjoni Obama hu li tnaqqas il-qg˙ad Amerikan g˙ax riesqa l-elezzjoni presidenzjali. U allura l-Amerikani jridu li Ω-Ωona ewro tifta˙ idejha ˙alli l-impriΩi Amerikani jkunu jistg˙u jbig˙u aktar fl-Ewropa u b’hekk i˙addmu aktar nies fl-Istati Uniti waqt il-kampanja g˙all-elezzjoni tal-President!

IL-PORTUGALL

Kul˙add jaqbel li l-Portugall wettaq l-impenji kollha tieg˙u, jew kwaΩi, skont il-ftehim li bih ing˙ata l-g˙ajnuna s˙i˙a (permezz ta’ self kbir f’bailout ie˙or). Il-miΩuri ta’ awsterità bi tnaqqis f’servizzi soçjali u ta’ pagi, fost o˙rajn, idda˙˙lu kif ©ie maqbul. Biss, l-ekonomija PortugiΩa baqg˙et tiçkien g˙al sena wara l-o˙ra, mhux l-anqas b’konsegwenza tal-istess awsterità. G˙ax naqaslu d-d˙ul, il-gvern xorta mhux ila˙˙aq mal-ispejjeΩ tieg˙u, minkejja l-ekonomiji kollha li saru. Óafna donnhom qed jifhmu li l-Portugall daqt se jkun je˙tie© bailout ie˙or.

IL-BANK ÇENTRALI EWROPEW

Waqt li suppost hu indipendenti mill-gvernijiet, il-Bank Çentrali Ewropew mistenni jissalvagwardja l-integrità taΩ-Ωona ewro. Imma m’g˙andux il-poteri ta’ bank çentrali verament qawwi. Il-President tieg˙u Draghi qal kemm-il darba li ma jistax jie˙u deçiΩjonijiet li jaqg˙u fir-


responsabbiltà tal-gvernijiet membri taΩ-Ωona ewro. Imma quddiem it-tbandil tal-a˙˙ar ©img˙at, Draghi ˙a poΩizzjoni aktar soda. Qal li l-ewro Ωgur li qatt mhu se jit˙alla jinkalja. Iddikjara li l-Bank Çentrali Ewropew se jkun lest anki li jer©a’ jag˙mel kif g˙amel ftit taΩ-Ωmien ilu imma b’mod aktar massiçç: ji©ifieri, jixtri direttament iç-çedoli ta’ self ma˙ru©a minn gvernijiet taΩ-Ωona ewro. L-istqarrija ta’ Draghi tat nifs ©did ta’ fiduçja fl-ewro lis-swieq finanzjarji. Qajmet ukoll konflitti interni fi ˙dan it-tmexxija tal-Bank Çentrali Ewropew. Fuq quddiem nett kontra Draghi ˙are© il-Bank Çentrali ÌermaniΩ, li jemmen li mossa b˙al din tkun tfisser rovina. Beda jintqal li l-ÌermaniΩi biss kienu kontra l-fehma ta’ Draghi (li tqarreb ukoll lejn dak li jrid il-Prim Ministru Taljan Monti). X’aktarx li hemm o˙rajn li jaqblu mal-argument ÌermaniΩ dwar kif il-Bank Çentrali Ewropew ma jistax jid˙ol f’manuvri li jmorru kontra l-istatut tieg˙u g˙ax jift˙u t-triq g˙al inflazzjoni qawwija. Imma qed i˙allu lill-ÌermaniΩi jidhru koroh huma.

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Fejn twassalna din ir-rassenja? Twassalna forsi biex nag˙rfu kif iΩ-Ωona ewro tinsab riesqa lejn punt fejn, b’mod kritiku u qawwi, se jkollha tiddefinixxi mill-©did kemm, kif, u b’min l-Ewropa se ta©ixxi b˙ala element monetarju mag˙qud fil-˙idma finanzjarja u ekonomika tad-dinja. Dan la hu proçess ˙afif; wisq anqas hu wie˙ed taç-çekçik. Minnu se jiddependi l-futur ta’ miljuni ta’ çittadini u familji Ewropej.

(It-Torça, 12 ta’ Awwissu 2012)


19

X’INHU GÓADDEJ REALMENTFL-EKONOMIJA?

Meta g˙al xahrejn tliet xhur wara xulxin, l-ekonomija Maltija çkienet u allura b’hekk tqieset li kienet f’riçessjoni, il-gvern ˙are© jg˙id li konna f’riçessjoni “statistika”. Qal dan biex ifisser li l-affarijiet xorta kienu sejrin tajjeb imma n-numri mi©bura biex ikejlu l-andament ekonomiku Ωelqu xi ftit u kienu qed jag˙tu stampa li mhix daqstant reali. Din il-©img˙a, l-istess çifri wrew li g˙at-tielet tliet xhur, l-ekonomija Maltija kibret fuq it-tliet xhur ta’ qabel – kibret b’sufa, imma kibret. Hawn il-kelliema tal-gvern ˙ar©u jittrombettaw li l-ekonomija di©à fieqet – u li ˙ar©et mir-riçessjoni. Imma ma qalux li g˙amlet hekk “statistikament”! Quddiem dan il-log˙ob bil-kliem, ˙afna nies bilfors jibqg˙u çassi. Jistaqsu: x’inhi l-verità? Aktar u aktar tqum il-mistoqsija meta elezzjoni tinsab qrib g˙ax il-gvern g˙andu l-fama li lest jag˙mel kollox ˙alli jibqa’ mka˙˙al mal-poter. Biex isibu tifsira serja ta’ dak li jisimg˙u, u˙ud iqabblu x’jintqal dwar l-ekonomija mal-esperjenza tag˙hom fil-˙ajja ta’ kuljum. Dan mhux dejjem se jag˙ti stampa çara ta’ x’inhu ji©ri. Anki fl-istess saff tas-soçjetà, ikun liema jkun

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X’inhu g˙addej realment fl-ekonomija? �75

– fost il-klassi tan-nofs jew fost dawk li jaqilg˙u l-anqas – mhux kul˙add ikun qed i©arrab l-istess esperjenza. Minn hawn to˙ro© l-importanza tal-istatistika. Din tipprova, jekk titmexxa tajjeb, toffri stampa mifruxa u “kompleta” tal-ekonomija kollha kemm hi.

TWEÌIBA ONESTÀ

Allura, sejrin tajjeb, sejrin ˙aΩin? Biex nag˙tu twe©iba onesta g˙all-mistoqsija, nemmen li lil hinn mill-propaganda politika li dejjem g˙addejja, irridu nag˙rfu r-realtajiet. Hemm il-fatt li l-ekonomija Ewropea u ekonomiji o˙rajn li a˙na marbutin mag˙hom jinsabu g˙addejja minn diffikultajiet ekonomiçi kbar li ilhom hemm u li ma jidhirx li se jittaffew fi Ωmien qasir. Il-problema tin˙ass bil-qawwi fiΩ-Ωona tal-ewro. B’deçiΩjoni Ωbaljata li l-gvern Nazzjonalista ˙a xi snin ilu, ninsabu marbuta intimament mag˙ha. Fost affarijiet o˙ra, g˙andna l-istess munita b˙all-pajjiΩi li jinsabu fiΩ-Ωona ewro. Nag˙mlu x’nag˙mlu, ma nistg˙ux niΩgiççaw mill-g˙afsa tal-kundizzjonijiet ekonomiçi u finanzjarji li jaffettwaw lill-pajjiΩi s˙abna. Imbag˙ad, hemm realtà o˙ra. Kemm bir-riçessjoni u kemm ming˙ajrha, il-magna ekonomika ta’ pajjiΩna baqg˙et t˙abbat b’polz anqas qawwi minn ta’ pajjiΩi o˙ra membri tal-Unjoni Ewropea. Il-Maltin ma jindunawx b’dan il-fatt g˙ax ilhom jg˙ixuh. Drawh u jqisuh b˙ala naturali. Fil-verità, l-aspettattivi ekonomiçi tal-Maltin huma anqas minn ta’ çittadini f’pajjiΩi o˙ra Ewropej. Inpattu xi ftit g˙al dan il-fatt billi g˙andna wa˙da mill-akbar ekonomiji suwed tal-Ewropa (relattivament dejjem): ˙afna individwi jaraw kif jg˙ixu ˙ajja a˙jar billi “jirran©aw”.


G˙alija jixhdu din ir-realtà fuq kollox Ωew© fatturi. Fl-ewwel post, insibu r-rata baxxa tal-poplu tag˙na li jie˙u sehem fid-dinja tax-xog˙ol. Il-gvern jg˙id li qed itejjeb din ir-rata. Imma g˙adna lura sew. Meta l-gvern jifta˙ar dwar kemm il-qg˙ad tag˙na hu baxx imqabbel ma’ ta’ Spanja jew ta’ ma nafx fejn, jinsa jsemmi kif f’dawn il-pajjiΩi r-rata tal-qg˙ad titkejjel fuq nies fid-dinja tax-xog˙ol li proporzjonalment huma ˙afna aktar minn tag˙na. Kieku d-dinja tax-xog˙ol tag˙na titkejjel bl-istess proporzjon tal-popolazzjoni b˙al tag˙hom, kieku l-qg˙ad tag˙na ji©i ag˙ar minn tag˙hom. Dan ma jissemma qatt. Kif ma jissemma qatt il-punt li fl-a˙˙ar g˙axar snin jew aktar, l-investiment li sar f’pajjiΩna, mill-gvern u mill-privat, majna sew b˙ala persenta©© tal-ekonomija. Minflok fuq investiment, bqajna nikkonçentraw fuq il-konsum. Kienu jg˙idulna li d-d˙ul ta’ Malta fl-Unjoni Ewropea kellu jinkora©©ixxi aktar investiment. Mhux talli dan ma ©arax. Talli l-investiment b˙ala proporzjon tal-˙idma ekonomika g˙addejja fil-pajjiΩ kompla jonqos wara li sse˙ibna fl-Unjoni Ewropea. Illum ninsabu fost il-pajjiΩi Ewropej li l-anqas jinvestu.

L-INVESTIMENT NIEQES

G˙aliex din il-˙a©a g˙andha to˙loq t˙assib? Permezz tal-investiment, ekonomija ta’ pajjiΩ i©©edded l-impjanti u t-teknika li bihom to˙loq il-©id – ittejjibhom – tibdilhom u ΩΩid mag˙hom. B’hekk issostni u ssa˙˙a˙ ir-ritmu li bih tipproduçi l-©id g˙ad-dispoΩizzjoni taç-çittadini li jg˙ixu fil-pajjiΩ u ta’ xerrejja o˙ra barra minnu. Jekk le, il-produzzjoni tal-©id ti©i dejjem aktar diffikultuΩa u ta’


spiΩa g˙olja, bir-riskju li jonqsu l-bejg˙ u x-xiri, kif ukoll l-impjiegi fl-ekonomija. M’hemmx dubju li dan ©ara f’Malta. Fil-manifattura bqajna nitilfu l-impjiegi. Fit-turiΩmu fejn kellna ˙afna blaff mill-gvern Nazzjonalista dwar kemm Ωammejna tajjeb din is-sena minkejja l-problemi ta’ flus fis-swieq Ewropej, issa ˙ar©et informazzjoni li l-lukandi tag˙na qed joffru l-aktar prezzijiet baxxi fil-Mediterran, wara Tunes. U sadattant, regolarment bqajna n©arrbu g˙oli tal-prezzijiet fi Ωmien meta fil-bqija tal-Ewropa l-inflazzjoni tkun qieg˙da ti˙fief. Hemm fatturi o˙ra, daΩgur, li ja˙tu g˙all-fatt li l-ekonomija tag˙na b’mod ©enerali tilfet mill-kompetittività tag˙ha. Personalment, jien nibqa’ konvint li l-aqwa fattur hu li ma rnexxilniex ninvestu daqs u b˙al ˙addie˙or. Imma dan ifisser li kollox jinsab f’diΩastru? Óa©a ovvja li le. Kif nafu, fl-a˙˙ar snin, kellna Ωew© setturi “©odda” li ˙olqu attività tajba, ©ieli qawwija, fl-ekonomija tag˙na: is-servizzi finanzjarji u s-settur tal-im˙atri bl-internet. F’tal-a˙˙ar sirna l-pajjiΩ ewlieni mill-Ewropa kollha. IΩ-Ωew© oqsma joffru xog˙ol lil mijiet ta’ professjonisti li jit˙allsu tajjeb ˙afna, u hekk g˙andu jkun. Din il-©img˙a l-ministru tal-finanzi stqarr li s-settur tal-im˙atri bl-internet ˙oloq eluf ta’ impjiegi fl-a˙˙ar erba’ snin.

NUQQAS TA’ DIREZZJONI

IΩ-Ωew© setturi l-“©odda” g˙andhom l-opportunitajiet u l-problemi tag˙hom – li m’g˙andniex spazju biex insemmuhom hawn. Dwarhom, ˙a©a wa˙da hi çerta madankollu: ma jistg˙ux ikollhom l-istess impatt fejjiedi fuq l-ekonomija


daqs il-pilastri “tradizzjonali” tal-ekonomija: l-industrija, it-turiΩmu u l-bini. PereΩempju, l-a˙˙ar settur baqa’ mdeffes sal-lum fi kriΩi li qed taggrava. Biççiet ewlenin minnu qed iΩommu fil-wiçç bin-nefqa tal-gvern fuq toroq u d-da˙la tal-Belt. Biççiet o˙rajn ma kkollassawx g˙ax il-banek jafu li se jaqilg˙uha huma wkoll jekk i˙allu dan ji©ri – u l-banek fil-fatt jinsabu f’qag˙da li tixbah dik tal-banek Spanjoli fl-a˙˙ar sentejn. Biss, dwar dan ukoll, ma jintqal xejn pubblikament. Fir-realtà, l-ekonomija tag˙na tippreΩenta dehra ta’ nuqqas ta’ direzzjoni. Din il-˙a©a qed tin˙eba bid-diskors li jsir dwar il-˙tie©a imperattiva li nsegwu l-ordnijiet mill-Ewropa biex innaqqsu d-defiçit fil-finanzi tal-gvern u d-dejn nazzjonali. Saret ˙a©a aktar importanti li nΩommu mar-regoli ta’ Brussell milli jkollna strate©ija koerenti dwar kif se nsa˙˙u l-kompetittività tag˙na u kif se nΩidu l-investiment. Tag˙tina rasna jekk ma nil˙qux il-mira sal-a˙˙ar punt ta’ perçentwal dwar il-weg˙diet li l-gvern ikun g˙amel fi Brussell dwar id-defiçit tieg˙u mqabbel mal-Prodott Gross Domestiku. Biss ma jqanqal id-dwejjaq ta’ ˙add il-fatt li, ming˙ajr is-servizzi finanzjarji, il-log˙ob tal-im˙atri bl-internet u n-nefqa tal-gvern, l-ekonomija tag˙na kienet tiçkien sew din is-sena. M’iniex ng˙id li l-kontroll strett fuq il-finanzi tal-gvern u t-traΩΩin tad-dejn nazzjonali mhumiex g˙anijiet importanti: huma! – u importanti ˙afna! Biss iridu jkunu parti minn pjan ta’ Ωvilupp ekonomiku nazzjonali, imfassal g˙aç-çirkostanzi tag˙na u mhux sempliçement sforz biex nobdu lil Brussell. Forsi xejn ma juri l-qag˙da reali tal-ekonomija tag˙na daqs il-qasam edukattiv. Se jkun hemm min jg˙id – dan x’g˙andu x’jaqsam? G˙andu mela m’g˙andux.


Ilkoll naqblu kif l-aqwa riΩors li jista’ jkollu pajjiΩna jikkonsisti fit-talenti u l-˙iliet tal-poplu tag˙na. Mela g˙andna kull interess li niΩguraw li dawn it-talenti u ˙iliet jing˙ataw l-aqwa spinta ’l quddiem. Realistikament dan irid ifisser li kull student, kull tifel u tifla jsibu kif jiΩviluppaw ˙ilithom u t-talenti tag˙hom bl-aqwa mod. Mhux qed ji©ri hekk – anki jekk persenta©© tajjeb tal-istudenti tag˙na qed jikseb riΩultati eççellenti. Dan mhux biΩΩejjed. Imqabbla ma’ pajjiΩi Ewropej o˙ra ninsabu lura sew fl-oqsma ng˙idu a˙na, tal-illitteriΩmu, tat-ta˙ri© f’materji in©inerjali u fl-edukazzjoni xjentifika u matematika. Sadattant, qed nonfqu proporzjonalment fuq l-edukazzjoni daqs pajjiΩi o˙ra. Imma hemm ostakli enormi – ta’ natura politika fost il-partiti; ta’ rabta professjonali fost l-g˙alliema u r-rappreΩentanti tag˙hom; ta’ xe˙ta psikolo©ika u kulturali fost il-familji – biex ti©i affaççjata bis-sens u b’kura©©, din l-isfida fondamentali. Hi sfida li b’mod kruçjali taffettwa l-iΩvilupp ekonomiku u soçjali f’pajjiΩna.

VALURI

B’mod stramb ukoll, il-valuri jkollhom impatt qawwi fuq kif niskartaw jew inben©lu l-isfidi. Fil-qasam tal-edukazzjoni pereΩempju: hix problema li psikolo©ikament u kulturalment, il-poplu tag˙na dara jqis il-proçess edukattiv b˙ala “salib” li bniedem irid i©orr fil-bidu tal-˙ajja biex wara jkun jista’ jaqla’ flus tajba u jg˙ix ˙ajja komda? Biex ng˙inu ˙alli dan is-salib jin©arr, qed nag˙tu ˙afna sussidji li ç-çittadini ta’ pajjiΩi o˙ra lanqas biss jo˙olmu bihom. Mentri xorta jibqa’ l-fatt li l-persenta©© ta’ Ωg˙aΩag˙ li jsegwu korsijiet avvanzati ta’ ta˙ri© hu aktar baxx minn


f’pajjiΩi o˙ra. F’dawn tal-a˙˙ar... kif naf mill-esperjenza diretta, fl-Istati Uniti pereΩempju... it-ta˙ri© u t-tag˙lim huma mitqiesa b˙ala esperjenza privile©©ata li ssebba˙lek ˙ajtek u ssa˙˙a˙lek it-talenti tieg˙ek.

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Mhux ta’ b’xejn li ˙afna nies jitnaffru mill-argumenti li jin©iebu dwar l-andament ekonomiku ta’ pajjiΩna llum. Jew jit˙awdu meta jitpo©©ew quddiem fehmiet kontradittorji dwar dak li jinsab g˙addej fostna u madwarna fl-Ewropa. Il-problema hi li hemm wisq interessi involuti. Fit-ta˙bila bejn l-interessi qawwija wie˙ed jifhem g˙aliex il-fatti dwar il-˙sus tar-realtà ekonomika ji©u sfokati u m˙awda f’xulxin, ta’ spiss g˙al tal-apposta.

(It-Torça, 13 ta’ Settembru 2012)


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UPGRADING MALTA’S GROWTH MODEL

Time and again, the point has been overlooked that the Maltese economy needs redirection. It has become too tied to a growth model which is basically fuelled by consumption. There is nothing bad about the latter: people do not exist simply to work. But if the space left for savings and investment becomes too restricted, people’s sources of income, as well as the engines of growth for the economy as a whole, come to rest on increasingly fragile supports. That this has been happening over the years was – and still is – camouflaged by a number of political and social developments that have distorted the issues. There was the move towards so-called liberalization and privatization. We had the programmes to align Malta’s economic decision-making with that of the EU. Along with the projects for the implementation of EU investment funds, their effect was to shift the debate away from what should also have been among our economic priorities. The latter became determined almost uniquely by the need to make sure that

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EU rules were adopted in time and that available EU funds were absorbed as quickly as possible. Meanwhile, the emergence of sectors like financial services and remote gaming compensated financially for the growing inbalance towards consumption at the expense of investment. Of course, in human affairs, sectors come, grow and then go as part of the way by which economies develop. If remote gaming or financial services somehow fade out of the scene eventually, on the record it is not unrealistic or too optimistic to believe that other economic activities, hitherto undreamt of, could emerge to replace them. The point here however is that gaming and financial services happen to be two sectors which by their very nature, did little to change the ongoing bias towards more consumption and less investment.

GOVERNMENT SPENDING AND THE BLACK ECONOMY

Meanwhile, the ever growing government spending continued to compound the problem even when it was channelled through private sub-contractors as part of the liberalisation/privatisation drive. Though subsidies to the utilities and the drydocks were wound down or eliminated, the resulting slack did not go to investment but fuelled further consumption. It did not help matters that the bulk of government capital spending during the nineties decade went on the Tal-Qroqq hospital, much of which as is now well known, was badly implemented. There is another factor which has helped to screen the effects of our over-reliance on consumption to roll things over – the black economy. By some estimates it runs close to 30 per cent of all the economic activity going on around

Upgrading Malta’s growth model �83

us. Even if that is an over-estimate, other “more realistic” assessments still put us at the top side of the EU’s black economy league. Which means that when we consider official statistics about economic output and performance we are probably playing with shadows. The prevalence of the black economy might be an important reason for a curious development. Inflation in Malta seems to be out of synch with that of other EU members. When prices in the latter dip, ours seem to surge, and vice versa. My hunch is that this phenomenon serves to inhibit further the investment propensity of some, at least, of our economic units. However, the real impact of the black economy on decision making is very rarely discussed. There must be some reason why – and it is just as puzzling that, though repeatedly promised, there has been little to no analysis of the reasons why inflation in Malta has been so “erratic”.

THE DISCONTINUITY OF 1987

Actually, we are still following the path set out in 1987, which then – within limits – represented a straight discontinuity with what had happened previously. Policies which introduced import liberalization, the opening of the economy to the private sector and eventually privatization of state assets in a “free” market setting were launched in line with similar developments in Europe and elsewhere. Such measures should have made the local economy more open. Yet, curiously for a long time, they had the opposite effect. The openness of the Maltese economy to the outside world shrunk – at least as measured by the ratio of imports/exports of goods and services to Gross Domestic Product.


Two things happened for sure. Private sector initiative, unleashed on the local market through liberalization and government contracts and no longer through import substitution, concentrated on milking the spending power of the local economy. This had been dammed by policies meant, rightly or wrongly, to stimulate during the seventies and eighties investment in new productive facilities. As a result, there now was less interest in export oriented ventures, especially since new local market opportunities emerged – as in cable television, mobile phones, entertainment plus intermediation in the launching of major government infrastructural contracts. Overspending and loose controls on the latter projects have been endemic right through, breeding a culture public and private that is still easy on waste, in the belief that it too can create a feel-good which is economically beneficial. Meanwhile, privatisation of government ventures, from public works to banks, airport, posts and so on, heightened this phenomenon of riding on the wash of internal consumption. For instance “competition” within the banking sector following the privatization of Mid-Med Bank helped to greatly boost spending on credit by households. The building and real estate businesses were of course leading players in the unfolding scenario. It may be argued that for a while, sales to foreign citizens of construction units were strong enough to make a mark on investment performance and render the economy a lot more open. Perhaps.

A FLAGGING MODEL

Now, the problem is that for a while, the growth model based tacitly or explicity on consumption has been flagging – and


this independently of the current recessionary conditions internationally. Unless the economy moves forward to invest more in initiatives that would upgrade and expand our productive systems in the public and private sectors, the likelihood is that we shall continue to lose competitiveness. In recent years, by and large, the tendency has been to remain competitive by squeezing profit margins or real wages – as in the tourism sector. Which is one reason why the promised convergence of living standards towards those of the better-off EU member states has not materialized. So what are the margins for jacking up investment? In reality, they are quite tight. An ideal scenario would be one in which growth surges forward, no matter how generated, allowing the investment envelope to increase without reducing the consumption that people are accustomed to look forward to. That is unlikely because for the medium term, our export markets are not expected to boom. New private sector investment in export oriented greenfield projects has become increasingly difficult to secure, as the Smart City and the aeroplane maintenance initiatives have demonstrated. To be fair, enticing direct investment projects to Malta has always been a daunting task. Unfortunately it was made tougher in recent years by the government’s ham-fisted approach towards locally based entrepreneurs. Indeed for a while it could happen that new investment will continue to originate mostly from service sectors which are quite footloose and have relatively limited trickle down effects. The crunch will be even tighter on the public side, where trying to increase investment commitments by restraining recurrent expenditures will create serious political problems for any government. Yet there is a crying


need for such investment to be implemented according to a proper medium term plan – not least in the educational and environmental sectors. Improving the efficiency of government operations might shave off some liquidity towards capital commitment. However, it is unlikely that this would suffice in a scenario where growth remains moderate to low – at least if, as has happened up to now, political and administrative sacred cows are kept sacred. Moreover, the government will be under strict pressure to operate according to euro zone rules regarding budgetary annual deficits and the reduction of the national debt. The room for manoeuvre is extremely limited. Euro zone rules do not discriminate between capital and recurrent government spending. So the temptation will remain for the public sector to skimp on investment in order to maintain consumption.

Investment in Tal-Qroqq Hospital – characterized by waste.


Some will argue that this might not be a bad thing, given the dismal outcomes and waste of government investment during recent years (the Tal-Qroqq hospital, road construction, public transport, Smart City, the new Parliament building and so on). But that is a myopic view. It should be possible to improve the quality and management of infrastructural investment. When such investment proceeds along the right lines, it not only boosts the public sector’s contribution to economic growth (which is essential), but it also enhances confidence in the future within the private sector, thereby stimulating new investment there.

***

Surely, there is not enough discussion of the dilemmas that must be resolved if our economy is to be in the right shape when export markets will have recovered. We risk coming out of this recession with a productive apparatus that is less than optimal, compared to what our competitors will have achieved. Revising the growth model in place since 1987 by which consumption led right across the board has become a matter of urgency. Unfortunately the need to focus on this challenge will be obscured by the other need to respect fully the newly forged euro zone rules on budgetary discipline. Coupled to the other restraint by which we have no control over the exchange rate set for the euro, we will need determination, intelligence and stamina to create the right climate for the emergence of the investment that we sorely need.

(The Malta Independent on Sunday, 23 September 2012)


21

IRRIDU NKUNU KONXJITAL-PIÛIJIET LI DEÓLIN

GÓALIHOM

Di©à kellna diskussjoni qabel a©©ornajna g˙all-vaganzi tas-sajf fuq it-twaqqif tal-MekkaniΩmu g˙all-Istabbiltà Ewropea, l-ESM. Kellna li©i li ressqet quddiem dan il-Parlament it-trattat li bih twaqqaf l-ESM. Biex il-li©i u t-trattat jg˙addu kien hemm bΩonn ukoll li jinbidel it-trattat dwar it-tmexxija tal-Unjoni Ewropea fir-rigward taΩ-Ωona ewro, wa˙da mal-o˙ra. Kif dejjem qed ji©ri f’din il-Kamra, ninsabu f’sitwazzjoni fejn il-karettun tpo©©a quddiem iΩ-Ωiemel. Biex ji©i approvat it-trattat g˙at-twaqqif tal-MekkaniΩmu g˙all-Istabbiltà Ewropea l-ewwel kien hemm bΩonn li ji©i emendat it-trattat Ewropew dwar kif titmexxa l-Unjoni Ewropea, ̇ alli mbag˙ad jippermetti li ji©i nnegozjat, irratifikat u jg˙addi t-trattat li bih twaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea. Ji©ifieri l-ewwel tpo©©i Ω-Ωiemel li bih tbiddel it-trattat Ewropew dwar it-tmexxija tal-Unjoni Ewropea, imbag˙ad tpo©©i l-karettun, bid-d˙ul tat-trattat li jwaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea. A˙na ˙dimna bil-

�88

Irridu nkunu konxji tal-piΩijiet li de˙lin g˙alihom �89

maqlub. G˙alkemm iltaqa’ l-Kumitat Parlamentari tal-Affarijiet Barranin biex jiddiskuti dak li qed niddiskutu llum, ji©ifieri l-bidla fit-Trattat Ewropew dwar it-tmexxija tal-Unjoni Ewropea u Ω-Ωona tal-ewro, ix-xog˙ol ta’ dak il-kumitat baqa’ ma tressaqx quddiem il-Kamra. Qed jitressaq illum. Imma fil-frattemp tressaq it-trattat l-ie˙or li bih twaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea u rratifikajnieh. ...Dan juri kif m’a˙niex qeg˙din tabil˙aqq insegwu dak li jinsab g˙addej fiΩ-Ωona ewro, anke fl-impatt tieg˙u fuq pajjiΩna, bis-serjetà li l-Parlament messu jag˙ti xhieda tag˙ha.

KOERENZA MAR-RATIFIKA TAT-TRATTAT DWARL-ESM

Hemm punt ie˙or li ta’ min jirrimarka dwaru. Meta tkellimna fit-tul dwar il-MekkaniΩmu g˙all-Istabbiltà Ewropea konna g˙edna li rridu ninterpretaw it-terms of reference tal-MekkaniΩmu g˙all-Istabbiltà Ewropea, l-ESM, b’mod li jfisser li jekk Malta jkollha problemi fit-t˙addim tal-finanzi tag˙ha, la qed nipparteçipaw fil-MekkaniΩmu (fl-ESM), g˙andu jkollna d-dritt s˙i˙ li ning˙ataw l-g˙ajnuniet li jing˙ataw pajjiΩi o˙ra ikbar minna. U dan minkejja l-fatt li kbar kemm ikunu kbar il-problemi tag˙na g˙alina, ovvjament ma jistg˙ux jaffettwaw iΩ-Ωona ewro min˙abba ç-çokon ta’ pajjiΩna. Konna ddiskutejna dal-punt fit-tul, il-Gvern kien qabel mieg˙u u mexxieh ’il quddiem g˙ax imbag˙ad, bi qbil tag˙na flimkien, anke da˙˙al fil-li©i tal-MekkaniΩmu g˙all-Istabbiltà Ewropea li g˙addejna f’Lulju, klawsola li tag˙mel din il-˙a©a çara. Qbilna li meta ji©i biex jid˙ol fl-


ESM, il-gvern se jikteb ittra fejn jistqarr l-interpretazzjoni li g˙adni kemm semmejt. Il-gvern anki ©ab mill-Kummissjoni Ewropea, stqarrija f’dan is-sens. Issa, l-istess argument kont g˙amiltu fil-Kumitat tal-Kamra meta kienet ©iet diskussa l-bidla li g˙andna quddiemna llum g˙at-trattat dwar kif titmexxa l-Unjoni Ewropea, biex tidda˙˙al il-possibbiltà li jitwaqqaf mekkaniΩmu b˙all-ESM. Jiena se naqra mir-rapport li g˙amel il-President tal-Kumitat fuq dak li ddiskutejna flimkien. Kienet il-laqg˙a nru 74 tal-Kumitat Permanenti dwar l-Affarijiet Barranin u Ewropej li nΩammet fit-� ta’ Lulju, �01�. L-Onor. Francis Zammit Dimech, President tal-Kumitat, ippresjeda. L-Onor. Francis Zammit Dimech stqarr hekk: “Il-Kumitat qabel li l-President jirrapporta lill-Kamra li fil-Kumitat kien hemm qbil unanimu favur il-˙ru© ta’ din l-ordni mill-Prim Ministru... – qed jirreferi g˙all-ordni ta’ ratifika kif g˙andna quddiemna llum – ...b’riΩerva min-na˙a tal-membri tal-OppoΩizzjoni sabiex mar-ratifika, il-gvern ta’ Malta jag˙mel side letter fejn fiha ji©i ççarat li l-gvern Malti qieg˙ed jifhem li l-MekkaniΩmu ta’ Stabbiltà ma ji©ix attivat biss sabiex ti©i salvagwardata l-istabbiltà taΩ-Ωona ewro kollha, imma ji©i attivat ukoll sabiex ti©i salvagwardata l-istabbiltà ta’ stati membri individwali, inkluΩi stati membri relattivament Ωg˙ar b˙al Malta li ma jkollhomx impatt fuq iΩ-Ωona ewro kollha.” Mela dan kien xintqal fir-rigward tal-mozzjoni tar-riΩoluzzjoni li g˙andna quddiemna llum. Kif g˙edt, l-istess argument ©ie aççettat mill-gvern, fir-rigward tar-ratifika tat-Trattat tal-MekkaniΩmu g˙all-Istabbiltà Ewropea. Effettivament l-artikolu 4 tal-li©i li da˙˙let ir-ratifika tag˙na g˙all-parteçipazzjoni fi ˙dan il-MekkaniΩmu ta’ Stabbiltà


Ewropea b’emenda li ressaq l-istess Ministru spiçça jg˙id hekk: “Il-Gvern ta’ Malta hu b’dan awtorizzat li jirratifika t-trattat filwaqt li jiddepoΩita ittra datata 3 ta’ Lulju, 2012 ma˙ru©a mill-Kummissjoni tal-Unjoni Ewropea annessa b˙ala Skeda 4, li fiha jistqarr l-intendiment tieg˙u li fejn it-trattat jirreferi g˙all-istabbiltà finanzjarja taΩ-Ωona tal-ewro komplessivament u tal-istati membri tag˙ha, dan g˙andu ji©i interpretat li jfisser kemm iΩ-Ωona ewro kollha kemm hi, jew wie˙ed mill-istati membri me˙ud g˙alih wa˙du, hu x’inhu d-daqs tieg˙u.” Hekk ukoll il-gvern g˙andu jaddotta l-istess proçedura llum fil-mod kif se nirratifikaw it-trattat li jibdel il-modi ta’ andament tat-tmexxija tal-Unjoni Ewropea biex jippermetti li Ω-Ωona ewro tkun tista’ twaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea. Ikun tajjeb li l-Ministru jag˙tina indikazzjoni jekk hux be˙siebu jag˙mel dan. Jekk le, inressqu emenda li tmur fis-sens tal-li©i kif g˙addiet f’Lulju li g˙adda.

ÓITAN TA’ PROTEZZJONI U SALVAGWARDJA

...Sadattant, minn ta˙t, il-kontroversja kienet t˙abbat l-aktar dwar il-mod kif se jitmexxa tassew dal-MekkaniΩmu g˙all-Istabbiltà Ewropea. Hi ˙a©a siewja li nirriflettu fuq hekk, kemm g˙all-kredibilità tag˙na b˙ala Parlament, u kemm biex naslu ˙alli nifhmu a˙jar r-realtà ta’ madwarna. L-effetti u l-konsegwenzi tal-mod kif Ωviluppat il-problema tal-ewro huma ta’ interess fondamentali g˙all-Ewropa…Imma (donna) m’a˙niex nindunaw x’inhu g˙addej. Apparti mill-Parlament, anke l-pajjiΩ jidher sajjem g˙alkollox minn kif qed jitqanqlu u jinbidlu l-perspettivi.


Ne˙tie©u mhux biss diskussjoni teknika li ssir fl-a˙˙ar, b˙alma beda jag˙mel tajjeb ˙afna l-Ministru llum – imma g˙andna bΩonn ukoll riflessjoni ta’ natura politika u ekonomika, dwar x’inhuma l-konsegwenzi ta’ dak li jinsab g˙addej. Issa, fil-fatt a˙na hawn qed niddiskutu dwar fire walls – dwar il-˙itan ta’ salvagwardja li rridu nibnu madwar il-pro©ett tal-ewro. Fl-a˙˙ar sentejn, tlieta, id-diskussjoni kienet dwar kif dawn il-˙itan g˙andhom jinbnew. Il-problema qed tkun li dwarhom ma kellniex kunçett sistematiku. Qeg˙din nirrispondu kull ftit xhur g˙all-kontin©enzi li jinqalg˙u. Hekk ukoll qed ji©ri dwar il-MekkaniΩmu g˙all-Istabbiltà Ewropea. Tul l-a˙˙ar tliet xhur minn mindu ltqajna fuq dan il-pro©ett, inqalg˙u kontin©enzi li qed jibdlu l-karattru tieg˙u. G˙alkemm il-Ministru ta deskrizzjoni teknikament tajba ta’ x’inhu jsir, il-kwistjonijiet baΩiçi evitahom jew ma tkellimx dwarhom… Nistaqsi pereΩempju: X’se jkun il-MekkaniΩmu tal-Istabbiltà Ewropea, fil-futur? Se ja˙dem qisu kien bank? G˙ax fl-a˙˙ar ftit xhur bdiet tiΩviluppa pressjoni kbira biex il-MekkaniΩmu g˙all-Istabbiltà Ewropea jing˙ata liçenzja bankarja… Il-poΩizzjoni ta’ Malta x’inhi fuq din il-˙a©a? Sadattant, ukoll meta tifli x’inhuma jg˙idu l-ÌermaniΩi ng˙idu a˙na, issib li qishom qed jit˙addtu b’Ωew© ilsna, daqqa tisma’ ˙a©a u daqqa tifhem o˙ra. G˙aliex din hi mistoqsija importanti? Jekk ting˙ata – u issa qed jg˙idu li se ting˙ata – liçenzja bankarja lill-MekkaniΩmu, dan se jkun jista’ jopera mal-Bank Çentrali Ewropew biex, minflok is-self li jin˙are© ikun wie˙ed lil pajjiΩ membru taΩ-Ωona ewro, jista’ jsir direttament lill-banek tag˙hom.


Din tkun lo©ika ©dida. Il-MekkaniΩmu g˙all-Istabbiltà Ewropea ma jwiΩinx biss ta˙t çerta kondizzjonalità lill-pajjiΩi membri taΩ-Ωona ewro, imma, b’liçenzja bankarja, se jkun jista’ jissellef mill-Bank Çentrali Ewropew u jg˙addi l-fondi direttament lill-banek bi problemi.

BEJN SELF U SELF

Nafu wkoll kif fl-a˙˙ar xahrejn, tlieta, il-Bank Çentrali Ewropew iççaqlaq u beda jg˙id li se jkun lest jixtri direttament çedoli ta’ self li jkunu ̇ ar©u l-gvernijiet. Dan jammonta g˙al manuvrar li m’g˙andux pedament kunçettwali sod ta˙tu. Qed isir b˙ala twe©iba g˙all-pressjonijiet tas-swieq fuq l-istituzzjonijiet finanzjarji taΩ-Ωona ewro. Ninsabu de˙lin fi triq wara l-o˙ra – f’segwenza li ma nafux fejn se twassal. Kif qal il-Ministru, se nkunu azzjonisti fil-MekkaniΩmu g˙all-Istabbiltà Ewropea: mhux qed ninvestu fondi enormi imma g˙alina s-somma hi kbira. Allura, x’inhuma l-veduti tag˙na fuq l-a˙˙ar Ωviluppi li qed jissemmew? Naqblu jew ma naqblux? Hemm ukoll il-mod kif çerti proposti qed ji©u mmuntati. F’daqqa wa˙da ˙ar©et storja ta’ kif b’çertu gearing, bil-kapital li se ji©i mpo©©i f’dan il-MekkaniΩmu, il-potenzjal, il-fire power tieg˙u b˙ala baΩuka finanzjarja (kif bdew isej˙ulu) se jittella’ g˙al Ωew© triljun ewro! L-istess ˙a©a kienet bdiet tintqal f’Diçembru �011. F’dak iΩ-Ωmien, telqu delegazzjonijiet miΩ-Ωona ewro, lejn iç-Çina, il-Qatar, u ma nafx fejn aktar, biex fuq il-baΩi relattivament limitata ta’ kapital li se jo˙or©u l-Ewropej, ida˙˙lu gearing, min-na˙a ÇiniΩa u G˙arbija. B’hekk, kienu qed jg˙idu dak iΩ-Ωmien ukoll, li s-sa˙˙a tal-MekkaniΩmu se twassal g˙al Ωew© triljuni ta’ ewro. Illum qed ner©g˙u


nisimg˙u l-istess ˙a©a – u dan, na˙seb jien, f’linja mal-˙sieb li l-MekkaniΩmu g˙all-Istabbiltà Ewropea se jing˙ata liçenzja bankarja. Allura jkun jista’ jitla’ bil-gearing minn mitejn biljun ewro g˙al triljun, u jkun jista’ jintervjeni iktar fis-swieq. Hu hawnhekk li jien na˙bat nit˙awwad. Ing˙idu li kien il-mudell ta’ gearing “bl-addoçç” mill-banek li da˙˙al lill-gvernijiet taΩ-Ωona ewro fl-inkwiet li jinsabu fih. Jekk issa se napplikaw l-istess mudell g˙all-mekkaniΩmi li suppost jiddefendu liΩ-Ωona ewro nnifisha, eventwalment ma jistax ikollna l-istess problema mmoltiplikata? X’hemm tassew wara din il-proposta li qed issir, ta’ gearing ©did? Kull darba qishom qed jit˙addmu paljattivi tekniçi biex nevitaw li naffaççjaw il-problema enormi taΩ-Ωona ewro: li hi Ωbilançjata. Il-©img˙a li g˙addiet, l-Onor. Berlusconi ˙are© jg˙id li l-problemi taΩ-Ωona ewro jin˙allu jekk il-Ìermanja to˙ro© miΩ-Ωona ˙alli ma jkunx hemm Ωbilançi iktar! Hu mod komiku kif tpo©©i s-soluzzjoni. Imma jekk il-problema ta’ Ωbilançi interni, ekonomiçi u finanzjarji, qieg˙da hemm, ma nistax nifhem kif na˙sbu li se nsolvuha billi nirrikorru g˙all-istess mudelli ta’ gearing enormi segwiti minn banek Ewropej li da˙˙lu lil çerti pajjiΩi fil-problemi li g˙andhom b˙alissa. ...G˙alhekk, tajjeb li jkollna, min-na˙a tal-Gvern, ftit informazzjoni dwar kif jara li l-impenji tag˙na fil-MekkaniΩmu g˙all-Istabbiltà Ewropea jistg˙u jiΩviluppaw. Il-Ministru qalilna li a˙na m’g˙andniex problemi g˙ax il-finanzi pubbliçi jinsabu marbuta l-iktar ma’ sorsi interni ta’ self. Min-na˙a l-o˙ra, l-impenji li qed nag˙mlu lejn iΩ-Ωona ewro, jistg˙u f’daqqa wa˙da jisparaw ’il fuq. G˙andna xi forma ta’ xenarji alternattivi, wie˙ed “estrem”, l-ie˙or


“moderat”, biex naraw x’inhuma l-parametri li fihom nistg˙u nkunu impenjati fil-MekkaniΩmu? – kemm nistg˙u ni©u mitluba no˙or©u fondi? – l-iktar u l-inqas, skont xenarju “estrem” u l-ie˙or “moderat”. Fi kliem ie˙or, saru xi stress tests dwar il-mekkaniΩmi ta’ ˙arsien taΩ-Ωona ewro?

UNJONI BANKARJA

Iktar u iktar g˙ax irridu nqisu dawn il-mekkaniΩmi fl-isfond ta’ bidliet o˙ra li jinsabu de˙lin – fil-kuntest pereΩempju ta’ pro©ett dwar unjoni bankarja. Matul is-sajf irrankat l-idea li biex iΩ-Ωona ewro tkun tista’ tiffunzjona a˙jar ˙alli tirregola t-tmexxija tal-banek u tal-finanzi pubbliçi, hemm bΩonn ta’ unjoni bankarja ta˙t kontroll wie˙ed maΩ-Ωona Ewropea kollha, b’superviΩjoni çentralizzata. Il-Kummissjoni Ewropea u çertu pajjiΩi jridu li din is-superviΩjoni tkun fuq il-banek kollha tal-Unjoni Ewropea, mill-kbar nett saΩ-Ωg˙ar nett: iriduha tid˙ol gradatament fuq il-banek kollha. PajjiΩi o˙ra, inkluΩa l-Ìermanja, qed jg˙idu li din is-superviΩjoni g˙andha tkun biss fuq banek li g˙andhom impatt Ewropew sistemiku, ji©ifieri, il-banek Ewropej il-kbar. Jekk tid˙ol superviΩjoni u kontroll fuq il-banek Ewropej kollha, il-banek Maltin se jaqg˙u ta˙tha. A˙na nkunu barra minn din is-superviΩjoni jekk issir biss fuq banek ta’ importanza sistemika fl-Ewropa – kif iridu l-ÌermaniΩi. Jekk ida˙˙lu ta˙t sorvelja çentralizzata çerti banek re©jonali u statali ÌermaniΩi jista’ jkollhom problemi kbar. Irridu nistaqsu: Tajjeb jew ˙aΩin li nkunu barra minn superviΩjoni Ewropea? Jien personalment ma nistax nag˙ti ©udizzju, imma nistenna li l-gvern Malti jkollu xi forma ta’ studju g˙addej. X’jaqblilna? Nibdew minn hemm. Jaqblilna


b’unjoni bankarja? – li nkunu parti minnha meta fis-settur tas-servizzi finanzjarji g˙andna proporzjon sostanzjali ta’ banek barranin li qeg˙din jipparkjaw hawn u qed i˙allulna çertu d˙ul. Jekk ma jaqblilniex, x’nistg˙u nag˙mlu biex inwaqqfuha din il-˙a©a... ? Jekk jaqblilna b’unjoni bankarja, kif tkun a˙jar, g˙all-banek kollha jew g˙all-banek kbar Ewropej biss? Issa, jekk fhimt tajjeb, ninsabu resqin lejn kunsens kwaΩi ©enerali dwar li l-kontrollur tal-unjoni bankarja jmissu jkun il-Bank Çentrali Ewropew. Allura qed tiΩviluppa l-proposta li l-Bank Çentrali Ewropew irid ikollu Ωew© dipartimenti, kwaΩi awtonomi u ma jmissux ma’ xulxin: wie˙ed biex imexxi x-xog˙ol makrofinanzjarju – biex ng˙idulu hekk – tal-Bank Çentrali Ewropew innifsu; u l-ie˙or biex ja˙dem b˙ala supervisor jew kontrollur tal-banek Ewropej li jkunu fl-unjoni bankarja.


...Il-problema hi li, fl-a˙˙ar g˙oxrin sena, ˙afna pajjiΩi, inkluΩ tag˙na, telqu g˙al g˙onq it-triq li jiddivestu lill-banek çentrali tag˙hom minn superviΩjoni u kontroll fuq banek u jg˙addu din il-funzjoni lil xi Awtorità g˙as-Servizzi Finanzjarji. Dan il-mudell inxtered sew. Jien dejjem kont xettiku dwaru, imma kul˙add jg˙id kemm huwa superjuri g˙all-mudell fejn il-Bank Çentrali jibqa’ jikkontrolla u jissorvelja l-banek. Il-mudell g˙all-g˙aqda bankarja Ewropea qed imur mill-©did lura, lejn li jkollok bank çentrali wie˙ed li jΩomm fih ukoll il-funzjonijiet ta’ sorvelja u kontroll fuq il-banek. Inçidentalment, il-Gvern Konservattiv IngliΩ, li huwa barra miΩ-Ωona ewro, re©a’ addotta dan il-mudell. Hu qed jg˙id li l-Awtorità g˙as-Servizzi Finanzjarji hija superfluwa u r-riforma li da˙˙al hi ma˙suba biex il-funzjonijiet tal-Awtorità Finanzjarja jer©g˙u jin©iebu lura ta˙t il-Bank Çentrali... Hijiex qed tiΩviluppa hawn kontradizzjoni bejn dak li se jkollna fiΩ-Ωona ewro u dak li a˙na g˙andna s’issa f’pajjiΩna? Jista’ xi ̇ add, min-na˙a tal-Gvern, jag˙ti perspettiva fuq kif dawn il-bidliet jistg˙u jaffettwawna, g˙at-tajjeb jew g˙all-˙aΩin? Kieku dan il-Parlament qed jiffunzjona tajjeb, kien ikollna kumitat ekonomiku u finanzjarju li jiltaqa’ regolarment u kien jitlob li ji©i ppreΩentat b’analiΩijiet fuq din il-materja. Kienu ji©u l-funzjonarji tal-Ministeru tal-Finanzi, tal-MFSA, tal-Bank Çentrali... u jg˙idu teknikament x’inhuma l-perspettivi. Din il-˙a©a mhix qed ti©ri. Imma tal-anqas, xi ˙add irid jindenja ru˙u li j˙ares lejn dawn l-iΩviluppi u jistaqsi: kif se jaffettwawna, kif jistg˙u jaffettwawna? X’se jkun il-benefiççju tag˙hom g˙alina? X’jaqbel li nag˙mlu dwarhom? Jiddispjaçini ng˙id li bqajna sajmin minn dan kollu.


FIL-GÓAMA

B’dan il-metodu, di©à ninsabu maqbuda b’ 1,300 miljun f’impenji lejn iΩ-Ωona ewro. Dan huwa x-xenarju, minkejja l-fatt li l-Ministru sa˙aq kif din id-darba, fuq l-ESM, m’a˙niex se nkunu qed niddejnu imma se nkunu qed no˙or©u share capital, kapital li allura ma jidhirx b˙ala dejn, biex il-piΩ ma jin˙assx daqshekk tqil. ...Xorta wa˙da, l-impenn hemm qieg˙ed – u d˙alna g˙alih bit-tlikki t-tlikki, pass wara l-ie˙or, ming˙ajr ma nafu fejn de˙lin. L-istess ˙a©a qed isir illum. Na˙seb li hemm bΩonn nie˙du bis-serjetà dan l-argument. Veru li s-su©©ett mhuwiex daqstant sexy: ma jqajjimx polemiki kbar: ˙add ma jifhem x’inhuwa g˙addej, imma fl-a˙˙ar mill-a˙˙ar, jekk ma noqog˙dux b’seba’ g˙ajnejn, l-impenji tag˙na se jkunu baqg˙u jiΩdiedu.

(Minn intervent f’dibattitu tal-Parlament Malti dwar riΩoluzzjoni mressqa mill-Prim Ministru biex tawtorizza r-ratifika ta’ emenda g˙al artiklu 136 tat-Trattat dwar il-Funzjonament tal-Unjoni Ewropea, 02 ta’ Ottubru 2012)


22

NIVVOTA FAVUR BL-AKBAR RILUTTANZA

Qabel nibda, nixtieq nikkjarifika ftit il-mod ta’ kif se na˙dmu. Il-proçedura parlamentari fuq riΩoluzzjoni b˙al din ta’ quddiemna li qed tippreΩentalna trattat biex nirratifikawh hi li jkun hemm diskors min-na˙a u mill-o˙ra jew iktar, imbag˙ad nivvotaw fuq ir-riΩoluzzjoni: u t-trattat li g˙andna quddiemna ji©i rratifikat. Dan huwa, kif jg˙id ismu, trattat li huwa estensiv u tekniku ˙afna – it-Trattat dwar Stabbiltà, Koordinazzjoni u Governanza. Hu trattat li qed jimplika li l-gvern Malti, ikun min ikun il-gvern Malti, se jassumi b’mod tassattiv obbligi li ˙afna minnhom huma tekniçi. Meta kellna quddiemna t-trattat tal-ESM, il-MekkaniΩmu ta’ Stabbiltà Ewropea, iddiskutejnieh artiklu artiklu u hekk kellu jkun. Qeg˙din fil-poΩizzjoni, jekk nibqg˙u sejrin bil-proçedura li s-soltu nuΩaw g˙ar-ratifika ta’ trattat, u jekk ma nibdluhiex xi ftit, li se nkunu qed ng˙addu dan it-trattat u qed nid˙lu g˙al dawn l-obbligi kollha – obbligi li ma tistax to˙ro© minnhom – ming˙ajr ma dan il-Parlament ikun iddiskutiehom. Na˙seb ikun ra©onevoli fiç-çirkostanzi

�99


li naqblu li matul id-dibattitu nsibu spazju biex, kif nag˙mlu fl-istadju ta’ kumitat dwar abbozz ta’ li©i, induru t-trattat parti parti, artiklu artiklu, u jkollna l-ispjegi u d-diskussjonijiet li jag˙tuh tifsira. Ma nafx x’inhi r-reazzjoni min-na˙a tal-Ministru tal-Finanzi imma jidhirli li hi ˙a©a importanti li na˙dmu b’dan il-mod.

(JINTLAÓAQ QBIL FUQ IL-PROPOSTA)

PARTI MINN STRATEÌIJA SÓIÓA

Irridu n˙arsu lejn it-trattat b˙ala parti mill-istrate©ija s˙i˙a li ©iet segwita fl-a˙˙ar snin ˙alli Ω-Ωona ewro tilqa’ g˙all-kriΩi li ffaççjat. Jg˙idu li hi kriΩi tad-djun imma l-kriΩi wriet ru˙ha ˙afna aktar importanti milli kieku qamet biss min˙abba d-djun tal-pajjiΩi membri. Inqalg˙et g˙ax iΩ-Ωona ewro g˙andha difetti kbar fil-mod kif tfasslet u t˙addmet. M’g˙andhiex bank çentrali u m’g˙andhiex awtorità ekonomika çentrali li jistg˙u jiddeterminaw strate©ija ekonomika wa˙da. IΩ-Ωona hi spezzettata fil-mod kif l-ekonomiji ta’ ©o fiha jitmexxew g˙alkemm isostnu munita wa˙da bejniethom. Il-problemi finanzjarji li nqalg˙u f’dawn l-a˙˙ar snin ˙ar©u fil-bera˙ u enfasizzaw dan id-difett strutturali. S’issa, iΩ-Ωona ewro ma rnexxilhiex tilqa’ mija fil-mija g˙al dawn il-problemi. Ittie˙du diversi passi – l-ewwel twaqqaf il-fond temporanju, l-EFSF, imbag˙ad il-fond permanenti msejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea. Da˙al il-Bank Çentrali Ewropew g˙al diversi drabi biex, l-ewwel nett, jo˙ro© flejjes lill-banek bl-ir˙is – xi � triljun jekk niftakar tajjeb fuq tliet xhur u, dan l-a˙˙ar,

il-Bank Çentrali Ewropew qed jg˙id li se jibda jixtri, ˙a©a li

Nivvota favur bl-akbar riluttanza 301

mhux suppost jag˙mel, il-bonds, iç-çedoli ta’ self tal-pajjiΩi membri tal-ewro. FiΩ-Ωmien li ttie˙du dawn il-miΩuri, se˙˙ew il-bailouts jew salvata©©i li bihom il-pajjiΩi taΩ-Ωona ewro bdew jag˙tu g˙ajnuniet ta’ self lill-pajjiΩi bi problemi finanzjarji – il-Greçja, l-Irlanda, il-Portugall, riesqa Spanja, kollha marbuta ma’ kundizzjonijiet dwar it-tmexxija finanzjarja tal-ba©its tat-tmexxija tal-ekonomija nazzjonali tag˙hom. Fl-istess Ωmien ma’ dan kollu bdew de˙lin il-miΩuri li bihom, maqbula jew le, fost il-pajjiΩi membri taΩ-Ωona ewro ftiehmu dwar kif se jmexxu l-ba©its tag˙hom skont kriterji li jkunu jixxiebhu – liema kriterji mbag˙ad se jwasslu g˙all-aççettazzjoni ta’ dixxiplina fiskali dejjem akbar.

MILL-INTERESS NAZZJONALI

It-trattat li g˙andna quddiemna huwa l-aktar punt qawwi ta’ dan l-isforz biex ji©u kkoordinati l-modi kif il-pajjiΩi membri jissettjaw il-ba©its tag˙hom u kif se ji©i Ωgurat li t-tmexxija finanzjarja tal-pajjiΩi membri taΩ-Ωona tal-ewro tabil˙aqq timxi fuq l-istess binarji. Nifhem g˙aliex qed isir dan kollu. Imma jiena n˙ares, l-ewwel u qabel kollox, lejn l-interess nazzjonali. Se nkun wie˙ed minn dawk li se jivvutaw favur ir-riΩoluzzjoni imma se nag˙mel hekk bl-ikbar riluttanza, bl-ikbar dwejjaq, g˙ax nemmen li t-triq li telqin fuqha mhijiex triq li se tkun qed timmassimizza l-potenzjal ekonomiku kemm tal-pajjiΩi Ewropej membri taΩ-Ωona ewro u kemm ta’ pajjiΩna. Il-Ministru – mhux l-ewwel darba – fta˙ar fuq x’pass tajjeb g˙amilna meta d˙alna fiΩ-Ωona ewro. Jiena nifhem u naqbel li bl-is˙ubija ta’ Malta fl-Unjoni Ewropea impenjajna ru˙na li nda˙˙lu l-ewro. Imma nibqa’ ng˙id li d˙alna kmieni


wisq u d˙alna g˙al obbligi li mhumiex tajbin g˙alina fil-qag˙da ekonomika ta’ pajjiΩna llum. Il-Ministru jg˙id li kieku ma konniex fiΩ-Ωona ewro ma konniex nilqg˙u g˙at-tempesti ekonomiçi tal-a˙˙ar tlieta, erba’ snin. Dan l-argument dejjem ˙assibni g˙ax qatt ma tiltaqa’ ma’ kaptan ta’ vapur li jg˙idlek kif l-a˙jar mod biex tevita t-tempesta, huwa li ssuq ©ol-qalba tag˙ha. A˙na hekk g˙amilna.

IL-QAGÓDA EKONOMIKA MALTIJA

Ninsabu parti miΩ-Ωona ewro u l-problemi kbar taΩ-Ωona ewro affettwawna u se jibqg˙u jaffettwawna. Jekk in˙arsu lejn il-performance ekonomika ta’ pajjiΩna, ninteb˙u li hemm aktar minnhekk. Issa, naf bil-fta˙ir li jsir min-na˙a tal-gvern fuq kemm sejrin tajjeb imqabbla ma’ ˙addie˙or eçç. Imma bir-rispett kollu, jekk in˙arsu pereΩempju lejn l-investiment fl-ekonomija b˙ala persenta©© tal-gross domestic product, ji©ifieri l-piΩ relattiv fl-ekonomija tag˙na tal-investiment, kemm ilna fiΩ-Ωona ewro... dak il-persenta©© baqa’ jonqos. Hemm punt ie˙or: kemm ilna fiΩ-Ωona ewro, l-iΩbilanç kummerçjali bejn Malta u l-pajjiΩi l-o˙ra membri taΩ-Ωona baqa’ jiΩdied sew. F’dak li g˙andu x’jaqsam mal-kompetittività tag˙na, ji©ifieri l-˙ila tag˙na biex inbig˙u daqskemm nixtru jew iktar miΩ-Ωona ewro, fl-a˙˙ar tliet snin, erbg˙a, din mhux veru tjiebet. L-iΩbilanç baqa’ jiΩdied, li jindika kif id-d˙ul tag˙na fiΩ-Ωona ewro ma ©ab mieg˙u l-ebda titjib tal-kompetittività tag˙na, anzi x’aktarx li morna lura. Dan il-fenomenu tg˙atta bil-kbir mid-d˙ul tas-servizzi finanzjarji u tas-servizzi tal-online gaming fl-ekonomija


tal-pajjiΩ. Ming˙ajr dawn iΩ-Ωew© sorsi kbar ta’ d˙ul – li m’g˙andhomx x’jaqsmu maΩ-Ωona ewro, anzi na˙seb li aktar ’il quddiem, is-s˙ubija tag˙na fiΩ-Ωona se tispiçça tg˙akkishom – konna nsibu li l-appartenenza tag˙na g˙aΩ-Ωona ewro naqqset kemm l-investiment u kemm il-kompetittività – jew il-˙ila tal-pajjiΩ biex ibig˙ u jixtri b’mod effettiv. Aktar ma na˙seb fuq dan l-aspett, aktar nifhem g˙aliex la se nivvota iva fuq l-abbozz ta’ quddiemna, g˙andi nag˙mel hekk bl-akbar riluttanza. U dan barra milli hemm ukoll il-kuntest l-ie˙or: dwar kif qed insegwu proçedura li hi ekonomikament illo©ika. Qeg˙din nibnu qafas g˙al tmexxija ekonomika tat-tul permezz ta’ li©i. Veru, fl-ekonomija hemm il-li©ijiet. Imma, fin-natura tag˙hom, il-li©ijiet ekonomiçi mhumiex l-istess li©ijiet b˙al-li©ijiet li jg˙addi l-Parlament, li ma jistax jille©iΩla b’mod tassattiv fuq ambjent ekonomiku jew fuq strate©ija ekonomika. Nistg˙u naqblu fuq politika ta’ tmexxija ekonomika imma li mbag˙ad tg˙id kif din il-politika trid tid˙ol b’li©i u qieg˙da hemm b’li©i, ma jag˙milx sens. Jekk tanalizza t-trattat li g˙andna quddiemna, issib li hu forma ta’ pjan ta’ tmexxija finanzjarja marbut ma’ o©©ettivi ekonomiçi b’mod tassattiv, tant li jrid jie˙u forma ta’ li©i.

TMEXXIJA EKONOMIKA SKONT LIÌI?

L-ironija ta’ li qed nag˙mlu jien insibha f’li – l-ewwel nett, hu l-gvern Nazzjonalista li qed jipproponi din il-˙a©a. L-a˙˙ar darba li dan il-Parlament kellu proposta biex b’li©i nda˙˙lu linja ta’ tmexxija ekonomika kien il-Pjan ta’ Ûvilupp tal-1973/1979 li da˙al b’li©i. Dak iΩ-Ωmien, l-OppoΩizzjoni


Nazzjonalista qalet li pjan ta’ tmexxija ekonomika ma dda˙˙lux b’li©i, g˙ax x’ji©ri jekk l-affarijiet imorru Ωmerç jew ma jmorrux kif qed tg˙id il-li©i tal-pjan? Kien l-uniku punt tajjeb li qanqlet l-OppoΩizzjoni Nazzjonalista dak iΩ-Ωmien dwar it-tmexxija ekonomika. Effettivament kien ©ara kif bassret... Illum, Ministru tal-Finanzi Nazzjonalista qed i©ibilna b˙ala li©i dak li fil-fatt hu pjan g˙at-tmexxija ekonomika u finanzjarja – mhux g˙al seba’ jew sitt snin, imma g˙al kemm iddum g˙addejja Ω-Ωona ewro. Hi ironija li ΩΩid fil-komplikazzjoni tag˙ha mbag˙ad, g˙ax biex inkunu ©usti, mhux biss il-Ministru tal-Finanzi u l-Gvern Nazzjonalista wa˙idhom li qed iressqu dawn il-proposti, imma l-proposti qed jitressqu fl-Ewropa... fiΩ-Ωona tal-ewro kollha! Mela minn na˙a g˙andna sistema li tg˙id li trid tibbaΩa ru˙ha fuq is-suq ˙ieles f’interazzjoni bejn it-talba u l-offerta, prinçipju li japplika wkoll g˙all-gvernijiet ng˙id jien, kif japplika g˙as-swieq privati, jekk irridu nkunu koerenti. Fl-istess qafas, biex nipprote©u Ω-Ωona tal-ewro, qeg˙din no˙or©u bi proposti li w˙ud minnhom se nwettquhom b˙ala li©i. U x’se ji©ri meta l-fatti tal-˙ajja, il-fatti ekonomiçi internazzjonali jinnegaw dawk il-premessi li qed tpo©©i l-li©i u meta Gvern ikun obbligat, b˙ala stat ta’ fatt, li jikser il-li©i? Barra mill-ironija tal-biçça, hawnhekk qed inkewsu problemi biex jiskattaw iktar ’il quddiem b’mod li ma nistg˙ux nipprevedu mil-lum. G˙alhekk se nivvota favur din ir-riΩoluzzjoni bl-akbar riluttanza. B˙ala pajjiΩ çkejken, a˙na qed nag˙mlu dak li wara kollox jg˙idulna nag˙mlu, g˙ax ovvja! id-deçiΩjonijiet taΩ-Ωona ewro mhux qed to˙odhom Malta. Suppost qed nag˙mlu dan ukoll skont l-interessi tag˙na imma na˙seb


li wie˙ed bilfors irid jibqa’ daqsxejn xettiku dwar hekk. Fil-fatt, b’liema mod dak li g˙andna quddiemna llum se jipprote©i l-interessi Maltin? Kieku konna wa˙edna u qed naffaççjaw problema ta’ tmexxija finanzjarja u ta’ tkabbir ekonomiku, konna no˙or©u bi proposti b˙al dawn, g˙al Malta biss? Jien ng˙id li ma konniex, g˙ax konna nkunu tg˙allimna minn x’©ara fis-snin sebg˙in meta l-pjan ta’ Ωvilupp nazzjonali dda˙˙al b’li©i. Il-pjan kellu suççessi kbar ekonomiçi, imma ˙afna mill-miri kif issettjati fih ma ©ewx mil˙uqa. Nafu b’dik l-esperjenza u nirrepetuha? Le, ma konniex nirrepetuha! Qed nag˙mlu din il-˙a©a g˙ax tridha Ω-Ωona tal-ewro, g˙ax iridha l-gvern ÌermaniΩ ˙alli jkun jista’ jΩomm ta˙t dixxiplina li tog˙©ob lilu pajjiΩi li jinsabu mieg˙u f’Ωona wa˙da monetarja.

GÓAL KULÓADD L-ISTESS TRATTAMENT

F’linja mal-argumenti li g˙adni kemm semmejt, na˙seb vizzju kbir tat-trattat li g˙andna quddiemna huwa dan: mhux biss il-proposti li fih huma mkeffna f’sura ta’ li©i, imma aktar minn hekk, fir-realtà qed insegwu mudell wie˙ed, l-istess, g˙al kul˙add. Mill-©did, hu l-mudell ta’ one size fits all. … Jekk taqra d-dettalji tat-trattat, se ssib li dak li jg˙odd g˙al Malta hu mistenni jg˙odd g˙all-Ìermanja, jg˙odd g˙all-Olanda, g˙all-Portugall, jg˙odd g˙all-Greçja. Imma, bir-rispett kollu, kif tista’ tikkonçepixxi li ˙a©a b˙al din se tag˙mel sens fil-prattika? Qed naffaççjaw sitwazzjoni ekonomika, ©eografika, soçjali differenti, mit-tarf tal-Ewropa ta’ Fuq sat-tarf tal-Ewropa t’Isfel, min-na˙a tal-Lvant tal-Ewropa, san-na˙a tal-Punent.


G˙adni kemm qrajt studju akkademiku interessanti u importanti ˙afna, li jikkonsidra l-miΩuri li jeΩistu fl-Istati Uniti dwar it-tmexxija finanzjarja pubblika, biex stati differenti jibqg˙u jikkonformaw maç-çentru, mal-istat federali Amerikan. L-istudju jqabbel dawn il-miΩuri mal-miΩuri li qed idda˙˙al iΩ-Ωona ewro. Issa, l-Istati Uniti, ovvjament, huma stat federali, ji©ifieri g˙andhom di©à poter çentrali ekonomiku li jidderie©i. Dan g˙andu fondi kbar biex i˙addem il-poter federali, liema poter hu limitat b’sistema ta’ checks and balances. L-istudju qabbel iç-checks and balances li jeΩistu fl-Istati Uniti bejn iç-çentru federali u l-istati l-o˙ra tal-Unjoni ma’ dawn il-miΩuri li, kif spjega fuq fuq il-Ministru, jinsabu fit-trattat li g˙andna quddiemna. JirriΩulta li, minkejja li Ω-Ωona tal-ewro mhijiex g˙aqda federali, il-miΩuri ta’ kontroll, ta’ sa˙˙a, ta’ forza biex tobbliga stat membru jag˙mel jew josserva çertu affarijiet, issa legalment, issa anke b’trattat, huma ˙afna iktar strin©enti u qawwija… ing˙id jien, soffokanti… milli jeΩistu fl-Istati Uniti ta˙t poter federali! …Óa©a b˙al din g˙andha tinkwetana. De˙lin fi proçess li ma hawnx b˙alu fid-dinja – proçess li qed jipprova jΩomm g˙aqda monetarja, f’kuntest fejn l-affarijiet mhumiex l-istess g˙al kul˙add, la l-ambjent ©eografiku, la l-problemi, la n-natura tal-ekonomija, u dan f ’sitwazzjoni ta’ diver©enza mhux Ωg˙ira… b’kollox issettjat skont il-punt ta’ one size fits all. Aktar tin˙ass inkwetanti dil-biçça meta tara x’inhuma l-o©©ettivi tat-trattat quddiemna. It-trattat jitkellem l-iktar, u anke dan difett ie˙or, issa ng˙id g˙aliex wara, dwar it-tmexxija tal-finanzi pubbliçi. Jag˙mel b˙ala mira li l-finanzi pubbliçi tal-istati membri taΩ-Ωona ewro jridu jkunu bilfors


jew f’bilanç, jew li jkollhom iktar d˙ul milli ˙ru©. Il-mira hi li ma jkun hemm xejn deficit. Issa jien nistaqsi: f’kuntest ta’ g˙aqda bejn sebg˙a u g˙oxrin, tmienja u g˙oxrin… sbatax-il pajjiΩ, ikun hemm kemm ikun hemm… bilfors li hu d-deficit li jo˙loq disturb, jew jista’ anke ji©ri li d-disturb jo˙olqu l-iΩbilanç favorevoli?

XENARJI DIFFERENTI MINN TAL-LUM

Effettivament ©ie ppubblikat studju ie˙or… mhux se noqg˙od in©ib l-istudji kollha li qed jitlestew b˙alissa g˙ax ma nispiççaw qatt… li jg˙id kif fattur ie˙or li qed jag˙ti sehmu biex jiΩdiedu d-disturbi taΩ-Ωona ewro huwa s-surplus ÌermaniΩ li baqa’ ma ©iex indirizzat! Ji©ifieri, Ωbilanç favorevoli jista’ jo˙loq disturb daqskemm jista’ jo˙loq deficit. B˙alissa qed nikkonçentraw fuq il-problema tad-deficit,


b˙ala fonti ta’ disturb. Imma jekk g˙andek pajjiΩ – wie˙ed kbir, b˙all-Ìermanja – li g˙andu surplus fiΩ-Ωona ewro, dan ifisser li parti mid-deficits tal-o˙rajn qed tikkontribwixxi g˙alihom il-Ìermanja. Mhux qed tift˙ilhom biΩΩejjed spazju ˙alli jbig˙ulha, u b’hekk ipattu g˙ad-deficit tag˙hom billi jibbenefikaw minn konsum ©ej ming˙andha li j©ibilhom ix-xog˙ol, il-flus, it-turisti. Allura, anke hawnhekk, tqum il-mistoqsija: X’sinkronija jista’ jkun hemm bejn 17, 16-il ekonomija, li suppost qeg˙din kollha bilançjati? – u nafu a˙na r-rabta bejn it-tmexxija ekonomika u t-tmexxija tal-finanzi pubbliçi, fejn tal-a˙˙ar isservi ta’ mutur g˙at-tkabbir ekonomiku, u viçiversa. Meta l-ekonomiji kollha suppost g˙addejja f’bilanç, u forsi l-kbira minnhom tkun f’bilanç favorevoli, dik g˙andha titqies b˙ala sinkronija tajba jew se to˙loq iktar problemi? Sal-lum g˙adni ma nafx. Imbag˙ad hemm aspett ie˙or li messna noqog˙du attenti g˙alih. Jirrigwarda l-parametri finanzjarji li dejjem insemmu… Ing˙idu pereΩempju, li 60 fil-mija tal-Prodott Gross Domestiku hu s-saqaf li rridu nΩommu g˙ad-dejn pubbliku. Jekk id-dejn nazzjonali jitla’ g˙al iktar minn 60 fil-mija, il-bozza l-˙amra tixg˙el! Mira o˙ra li ma tantx g˙adha tissemma dan l-a˙˙ar hi l-mira tat-3 fil-mija g˙all-inflazzjoni. G˙aliex 60 fil-mija? G˙aliex mhux 80 fil-mija pereΩempju? G˙aliex 3 fil-mija? G˙aliex mhux � fil-mija b˙ala mira g˙all-inflazzjoni? Minn fejn ©ew dawn iç-çifri? X’inhu li ji©©ustifikahom b˙ala parametri li fuqhom irridu niggwidaw il-finanzi u l-ekonomija tal-pajjiΩ? Effettivament huma ©ew ibbaΩati fuq studji, metodi, teoriji u fatti li kienu jeΩistu fis-snin tmenin u fil-bidu tas-snin disg˙in tas-seklu li g˙adda.


Di©à g˙oxrin sena ilu!Il-miri ssettjati (g˙aΩ-Ωona tal-ewro) ittie˙du mill-istatistika ekonomika ta’ dak iΩ-Ωmien: g˙amlu l-medji u l-medjani tag˙hom u g˙al dak iΩ-Ωmien, qalu li jkun ra©onevoli li jinΩammu b˙ala miri sa minn meta fasslu l-ewwel patt ta’ stabbiltà u tkabbir. Minn dak iΩ-Ωmien, li bdew jintuΩaw dawn il-benchmarks! Issa, g˙oxrin sena jew iktar fil-mixja ta’ ekonomiji Ewropej jag˙mlu differenza kbira. Allura jekk qeg˙din na˙dmu skont kriterji li jistg˙u jkunu antikwati, x’garanzija jista’ jkollna li t-triq li qed ti©i mfassla konçettwalment u legalment tag˙mel sens g˙all-pajjiΩi kollha taΩ-Ωona ewro, inkluΩ tag˙na? Fuq dan, assolutament, ma ning˙ataw l-ebda linja gwida.

KIF JINÛAMMU L-KONTIJIET PUBBLIÇI

Ni©i g˙al punt ie˙or: il-kontijiet pubbliçi. Qed ning˙ataw miri g˙alihom u kif g˙andhom jinΩammu, b’çertu dettall, u na˙seb li nkunu nistg˙u nikkunsidrawhom a˙jar meta naslu g˙all-qari tat-trattat artiklu b’artiklu. Issa dawn il-kontijiet, ta’ liema tip huma? Huma kontijiet li ta’ min jafdahom? L-argument kien u g˙adu jqum dwar l-accruals. Suppost li – il-Eurostat tg˙idha din il-˙a©a – il-kalkoli u d-data li jin©abru dwar finanzi pubbliçi u o˙rajn huma bbaΩati fuq sistema ta’ accruals. Imma mhu veru xejn. Tal-anqas g˙al pajjiΩna, Ωgur li mhux hekk. L-accruals tag˙na huma bbaΩati fuq cash system antika. Jekk niftakar tajjeb l-ispjega li kien ta l-Ministru tal-Finanzi nnifsu, isir dan: ikomplu g˙addejjin bis-sistema ta’ ˙lasijiet kontanti g˙al xahrejn wara l-ewwel tas-sena, biex, imbag˙ad, irikkbu fuqhom il-medja tal-ispiΩa – nag˙mlu mod minn Marzu


ta’ sena sat-tarf ta’ Frar tas-sena ta’ wara – biex jg˙idu li dawk huma accruals – jew xi ̇ a©a simili! Ma na˙sibx li g˙al Malta biss qed jit˙addem dan il-metodu. Nissuspetta li qed isir ukoll g˙al pajjiΩi o˙ra. Kien beda jintqal ftit ilu – imma l-biçça ma ssemmietx aktar bis-serjetà – li l-a©enziji li jΩommu l-istatistika jridu jkunu kemm jista’ jkun indipendenti mill-gvern tal-©urnata – ˙a©a li l-gvern Nazzjonalista qatt ma aççetta li jag˙mel, g˙ax dejjem ried li l-istatistika tibqa’ ta˙t il-Ministeru tal-Finanzi. Anke fuq livell Ewropew, saret pressjoni kbira biex l-uffiççju tal-Eurostat jitmexxa minn xi ˙add li tabil˙aqq ma jkunx jista’ jitne˙˙a, persuna li tkun professjonalment aççettata minn kul˙add b˙ala tal-aqwa kalibru tekniku u ma tkun su©©etta g˙all-ebda manipulazzjoni. Issa naraw kemm se ji©ri hekk... Lil hinn minn din il-kwistjoni, il-punt hu li hemm ˙afna xi tg˙id dwar il-metodi li bihom qeg˙din inkejlu r-riΩultati ekonomiçi. Jien l-ewwel wie˙ed m’iniex konvint li kemm id-data Maltija u kemm id-data ta’ pajjiΩi o˙ra – inkluΩa l-Ìermanja, biex inkunu çari – hi trasparenti biΩΩejjed biex tippermetti li çerti eΩerçizzji ta’ sorvelja, b˙al dawk li qed ji©u su©©eriti, jistg˙u jinΩammu b’mod koerenti u konsistenti g˙al Ωmien twil. Na˙seb li l-politika se tibqa’ tid˙ol – kif di©à da˙let fil-fatt – fl-immanipular taç-çifri, la s-sistema ta’ kontabilità mhijiex stretta biΩΩejjed. Aktar ter©a’ tqum id-dilemma dwar kemm g˙andek tafda dak li qed tara u tisma’. Il-problema skattat bil-kbir fil-kaΩ tal-Greçja u qalulna li dak kien kaΩ eççezzjonali. Personalment, niddubita kemm kien tassew kaΩ daqstant eççezzjonali... Forsi ma nqalg˙ux kaΩi fejn il-lastiku ©©ebbed daqskemm ©ebbduh fil-Greçja. Imma m’g˙andix dubju li f’kuntest fejn mhux veru li qed nipprattikaw sistema ©enwina ta’ accruals, ˙afna mill-miri


li qed jitpo©©ew quddiemna se jkomplu ji©u su©©etti b’mod sotterran g˙all-manipulazzjoni politika. ...PereΩempju, mistoqsija li jien dejjem nistaqsi u ˙add ma jag˙tini twe©iba serja g˙aliha hi din: g˙aliex minn sena g˙al sena, id-dejn nazzjonali f’Malta jiΩdied b’iktar mid-deficit li jirrapporta l-Gvern? Hemm xi ˙a©a stramba fil-biçça: iç-çerti spjegi rari li ng˙ataw, qatt ma jfissru l-mija fil-mija tad-diskrepanza. Óa©a li ma na˙sibx li qed ti©ri f’Malta biss, u l-problema se tkompli timmultiplika ru˙ha fiΩ-Ωmien li ©ej ta˙t din l-istruttura li qed inda˙˙lu, billi nimponu b’li©i arran©amenti li jammontaw g˙al pjan ekonomiku – pjan li jrid jit˙addem bl-istess mod fil-qafas tal-problemi u l-kontin©enzi politiçi, ekonomiçi u soçjali li pajjiΩi differenti se jkunu qed jaffaççjaw fuq medda ta’ Ωmien. Hawnhekk tqum komplikazzjoni o˙ra.

X’RABTA MAL-MIRI EKONOMIÇI?

B’liema mod it-trattat li g˙andna quddiemna qed jipprova jorbot il-miri li qed ipo©©i ’l quddiem ma’ xi aspirazzjoni konkreta ta’ tmexxija ekonomika? Waqt li nitkellmu fuq kontroll ta’ spiΩa pubblika u niddeskrivu fid-dettall kif din g˙andha titmexxa, l-aqwa mira kellha tkun dik li turi kif li qed nag˙mlu jintrabat ma’ progress ekonomiku. Fit-test li g˙andna quddiemna, mira b˙al din ma tirriΩulta minn imkien. Xi ˙add jista’ jg˙idli: il-mira tat-trattat hi li jitkellem biss dwar kif se ji©i kkoordinat il-kontroll tal-ispiΩa pubblika fiΩ-Ωona ewro. Imma skuΩi, biex tag˙mel sens trid torbot ukoll ˙a©a b˙al din ma’ miri ekonomiçi li jkunu çari, fis-sens li nistg˙u nkunu nafu, nifhmu u nkejlu x’se jkunu l-konsegwenzi g˙at-tkattir ekonomiku ta’ dak li qed infasslu.


Jien insegwi mhux ˙aΩin x’jinsab g˙addej fiΩ-Ωona ewro u nistag˙©eb kif ̇ lief ©ieli fil-Parlament Ewropew, rari jqum xi ˙add biex jenfasizza l-punt li qed insemmi – u jag˙mel dan mhux b’mod ta’ stqarrija politika, imma mil-lat tal-lo©ika li biha t-trattat se jit˙addem, u b’rabta konkreta mal-miri ta’ viΩjoni u ta’ tmexxija indirizzati lejn it-tkabbir ekonomiku. Mhux kumbinazzjoni li fiΩ-Ωona ewro fl-a˙˙ar sentejn, inΩammu fost l-ikbar manifestazzjonijiet popolari ta’ protesta li qatt saru fl-Ewropa. Kollha kienu mnebb˙a minn dwejjaq ekonomiku u soçjali dejjem jiΩdied, mhux biss fil-Greçja, imma wkoll fil-Portugall, fi Franza din il-©img˙a, fi Spanja... Fl-a˙˙ar pajjiΩ, il-protesta soçjali qed tfur b’konsegwenzi politiçi kbar, tant li s-separatiΩmu f’daqqa wa˙da ˙a n-nar. Forsi, dan li qed nag˙mlu se jkompli jikkonferma l-fehma tal-popli li l-uniku mod kif iΩ-Ωona ewro tista’ ΩΩomm id-dixxiplina tag˙ha hu permezz ta’ politika ekonomika ta’ awsterità. M’hemmx lo©ika o˙ra li twassal g˙al dak li qeg˙din nag˙mlu hawnhekk... X’aktarx li, bl-istrate©ija li ninsabu mexjin fiha, se nkunu kkundannati kull darba li tinqala’ problema ta’ kredibilità fit-tmexxija finanzjarja, ikun min ikun fil-gvern, f’Malta u f’pajjiΩi o˙ra, li nsegwu din il-linja: l-uniku mod ’il quddiem ikun l-impoΩizzjoni ta’ awsterità... b’˙addiema li jitnaqqsulhom il-pagi, qg˙ad li jikber, problemi finanzjarji akbar g˙all-pensjonanti u min jiddependi mis-servizzi soçjali g˙ax dawn jiddg˙ajfu. Donnu li dik tkun l-unika triq ’il quddiem, l-unika lo©ika ta’ tmexxija ekonomika li jifdal. Ma noqog˙dux ng˙idu li Malta qatt mhi se tkun f’din il-poΩizzjoni. Tista’ tkun hekk mela le, ikun min ikun fil-gvern. G˙ax m’g˙andux x’jaqsam min ikun fil-gvern.


D˙alna f’sistema li biex issewwi, trid timxi fid-direzzjoni ta’ awsterità.

OPTIMAL CURRENCY AREA

Sadattant, hemm imbag˙ad argument ie˙or li nibqa’ ng˙id, ma nafx g˙aliex mhux qed ji©i indirizzat bis-serjetà. Fit-teorija ekonomika u finanzjarja kien u g˙ad hemm l-idea li, biex tirnexxi Ωona monetarja, lil hinn milli jkollha çentru qawwi ta’ tmexxija ekonomika, din irid ikollha fiha kundizzjonijiet ekonomiçi li jikkonver©u, li huma tal-istess timbru, più o meno. Isej˙ulha optimal currency area, Ωona b’munita wa˙da fejn jeΩistu l-a˙jar kundizzjonijiet biex tit˙addem tajjeb. Teorija li na˙seb g˙andha ˙afna validità. Wie˙ed jistaqsi: iΩ-Ωona ewro g˙andha dan il-karattru ta’ optimal currency area? Hemm biΩΩejjed konver©enza bejn l-ekonomiji taΩ-Ωona ewro li twassalhom ˙alli jkunu optimal currency area? ... Dik hi l-mistoqsija. Il-Kummissjoni Ewropea ta’ spiss titkellem fuq il-˙tie©a li nsa˙˙u l-konver©enza. Kul˙add jaqbel mag˙ha. Il-President tal-Unjoni Ewropea semmieha kemm-il darba. Biss, fil-prattika, x’qed isir biex din il-˙a©a titwettaq? Fl-a˙˙ar xhur, kien il-President Hollande ta’ Franza li l-iktar ˙are© kontra l-politika ta’ awsterità li qed twassal biex, minflok il-konver©enza, tiΩdied id-diver©enza bejn il-pajjiΩi membri taΩ-Ωona ewro. Qabel tela’ fil-gvern, is-sej˙a qawwija tieg˙u kienet li se jirriversja l-politika ta’ awsterità u b’hekk isa˙˙a˙ it-tkabbir ekonomiku u allura l-konver©enza. G˙ax jekk tinfirex klima ta’ tkabbir ekonomiku, il-konver©enza se tiΩdied bejn il-pajjiΩi membri. Na˙seb li l-analiΩi hija ftit naive u ottimista. Imma x’©ara fl-a˙˙ar ftit xhur? Ma narax li l-pro©etti ta’ Hollande avvanzaw wisq biex


ikun jista’ jo˙ro© miç-çirku vizzjuΩ tal-awsterità. Mhux g˙ax ma riedx, imma g˙ax il-lo©ika tas-sistema li qed na˙dmu fiha u qed ner©g˙u nikkonfermawha b’dan it-trattat li qed niffirmaw, hu s-sens li l-uniku mezz biex tikkontrolla l-kriΩi tal-ewro huwa l-awsterità. Je˙tie© nifhmu li a˙na b˙ala Maltin, ma ninsabux apparti minn din l-g˙afsa. Il-gvern da˙˙alna fil-qalba tat-tempesta u ma nistg˙ux nag˙mlu tabirru˙na li la a˙na affettwati mill-konsiderazzjonijiet li pajjiΩi o˙ra qed i˙ossu bil-kbir, u lanqas qatt nistg˙u nkunu. F’dawn iç-çirkostanzi, qed jissa˙˙a˙ l-argument fost çerti setturi tal-Unjoni Ewropea favur il-˙tie©a ta’ çaqliqa lejn iktar federaliΩmu, b’aktar strutturi federali li b’mod çentrali jistg˙u jikkoordinaw l-affarijiet. ...Insemmi, pereΩempju, il-pro©ett li da˙al minn ta˙t fl-a˙˙ar xhur u li dwaru l-parlamenti nazzjonali ftit li xejn qed ji©u kkonsultati, ta’ g˙aqda bankarja. L-argument di©à tqajjem dwar kif f’g˙aqda bankarja g˙andu jkun hemm awtorità çentrali li tikkontrolla l-banek Ewropej kollha fiΩ-Ωona ewro. Ilbiera˙, il-Ministru tal-Finanzi qal li l-gvern Nazzjonalista jippreferi li s-sorvelja tkun fuq banek kbar u li g˙andhom valur sistemiku fl-Ewropa. Imma ˙a©a ovvja, jekk il-pajjiΩi l-kbar eventwalment jiddeçiedu li s-sorvelja çentrali ssir fuq il-banek kollha, se jkollna naççettaw dil-˙a©a a˙na wkoll.

AKTAR EWROPA

Imbag˙ad, g˙andna proposta o˙ra g˙addejja, id-dokument tal-President tal-Kummissjoni Ewropea, van Rompuy. Kienu l-gvernijiet membri taΩ-Ωona ewro li talbuh biex jippreΩenta dan id-dokument. Fih, van Rompuy qed


ipo©©i ideat g˙al diskussjoni: proposti g˙al iktar strutturi federali çentralizzati, bi President tal-Unjoni Ewropea li jkun elett mill-popli kollha, bil-poter li hu jinnomina l-membri tal-Kummissjoni Ewropea; proposti g˙al strutturi ta’ ministru tal-finanzi g˙aΩ-Ωona ewro b’kontroll fuq il-ba©its tal-pajjiΩi nazzjonali, u dan b’Ωieda mal-kontrolli li di©à se tkun tista’ dda˙˙al il-Kummissjoni bit-trattat dwar patt fiskali... Dwar hekk, tajjeb (ner©g˙u) ng˙idu li t-trattat li g˙andna quddiemna jag˙ti poteri lill-Kummissjoni ˙afna iktar qawwija mill-poteri li g˙andu dan il-Parlament, li qieg˙ed hawn biex japprova jew le l-proposti tal-gvern: waqt li l-Kummissjoni, b’dan it-trattat, se jkollha l-poter tg˙id lill-gvern: tag˙milx

Herman van Rompuy, l-ewwel President tal-Kunsill Ewropew (2009–2014).


hekk u tag˙milx hekk, sa˙ansitra minn qabel jiffinalizza l-ba©it tieg˙u. Na˙seb li kul˙add se jifhem li din hi in©erenza importanti fil-proçessi li bihom pajjiΩ jiddeçiedi dwar it-tmexxija finanzjarja u ekonomika tieg˙u. Il-proposti li qed jissemmew minn van Rompuy imorru iktar ’il bog˙od minn hekk. Mhux biss tkun il-Kummissjoni Ewropea li jkollha dawn il-poteri, imma b’mod iktar wiesa’ u qawwi, se jkun hemm ministru tal-finanzi taΩ-Ωona ewro li jag˙fas fuq il-ministri tal-finanzi tal-pajjiΩi rispettivi. Biex tg˙axxaqha, din tkun persuna li lanqas ti©i eletta. A˙jar nitkellmu çar dwar x’inhu ji©ri. Ninsabu fuq lanja li biha biex il-problemi taΩ-Ωona ewro jitwittew, qed ji©u rrumblati fuq quddiem strutturi federali li jirrestrin©u bil-kbir l-indipendenza ta’ kull pajjiΩ membru. F’dan il-Parlament, a˙na g˙adna noperaw ta˙t il-Kostituzzjoni tal-Indipendenza. Din kienet l-unika wa˙da f’pajjiΩna li tabil˙aqq tatna, lil hinn mill-awtonomija, iç-çans li nkunu sovrani. Imma nibΩa’ li jekk l-affarijiet jibqg˙u sejrin hekk, il-Parlament ta’ wara dan se jkun wie˙ed li jkollu jaffaççja l-mistoqsija to be or not to be f’dak li g˙andu x’jaqsam mas-sovranità. Il-gvern tal-lum qal li ma jaqbilx mal-federaliΩmu u jara l-federaliΩmu b˙ala pass radikali wisq. Qal li jaqbel ma’ çerti strutturi ta’ g˙aqda u koordinament (pan-Ewropew) imma mhux mal-federaliΩmu. Bir-rispett kollu, it-trattat li g˙andna quddiemna llum hu pass qawwi lejn stqarrija ta’ pro©ett federali fil-bidu tieg˙u. Allura mhux a˙jar inkunu çari safejn na˙sbu li nistg˙u naslu, jew safejn irridu naslu! Hemm dawk li jargumentaw li s-soluzzjoni g˙all-problemi taΩ-Ωona ewro u tal-Unjoni Ewropea hi more Europe: ji©ifieri iktar ma jkun hemm konçentrament ta’


strutturi istituzzjonalizzati çentralment, iktar se jin˙allu malajr il-problemi li nqalg˙u fl-a˙˙ar erba’ snin. Imma jekk t˙ares lejn il-fatti madwarna, on the ground, ir-realtà hi differenti. Ir-realtà hi li matul is-snin li da˙˙alna more Europe, aktar Ewropa, sakemm tpo©©a f’postu l-pro©ett tas-suq wie˙ed mag˙qud, l-Unjoni Ewropea kienet qed tinkora©©ixxi tkabbir ekonomiku sostanzjali fil-pajjiΩi membri tag˙ha. Meta mbag˙ad imxiet biex da˙˙let iktar membri u allura kibret id-diver©enza ekonomika – u meta da˙˙let aktar strutturi ta’ g˙aqda bejn il-pajjiΩi fuq livelli differenti – ir-rata ta’ tkabbir ekonomiku fl-Ewropa bdiet taqa’. Storikament dan jidher mid-dati. Tkabbir tal-Unjoni Ewropea ©ie jfisser tkabbir ekonomiku inqas fi ˙dan il-pajjiΩi membri tal-Unjoni. Allura min jipproklama li more Europe awtomatikament se tfisser effiçjenza istituzzjonali u ekonomika akbar, u li se twassal b’mod naturali g˙al titjib soçjali u ekonomiku ikbar, hu kontradett mill-fatti storiçi. Ninsabu quddiem ideolo©ija m˙addma minn nies li akkost ta’ kollox iridu jwasslu l-ideat tag˙hom sal-a˙˙ar. Nirrispettahom g˙all-ideat tag˙hom... imma mbag˙ad na˙seb li d-dmir ta’ kull parlamentari nazzjonali f’kull pajjiΩ membru tal-Unjoni Ewropea hu li jistaqsi: Il-fatti x’inhuma? Ir-realtà storika ta’ pajjiΩna x’inhi? X’inhu l-aqwa ©id g˙all-kompatrijotti tag˙na? Hemm bΩonn li wie˙ed jag˙raf sew fejn wasalna: u g˙aliex wasalna s’hawn? G˙aliex iΩ-Ωona ewro kellha titlaq bi strutturi li huma, jekk ma ng˙idulhomx fallimentari, imma difettuΩi? Minn fejn ©iet din ir-rieda politika biex titwaqqaf iΩ-Ωona ewro ji©ri x’ji©ri, l-aqwa li titwaqqaf anke jekk ma tistax timxi sew? X’ji©©ustifika li f’dan il-qafas nibqg˙u g˙addejja biex l-affarijiet isiru


kif kienu prospettati fil-bidu tag˙hom kontra dak li qed tg˙idilna t-teorija ekonomika? Jekk iΩ-Ωona ewro mhijiex optimal currency area, hemmx bΩonn li nirrikonoxxu dal-fatt? Inkella se nibqg˙u nirrea©ixxu politikament biex inΩommu ˙ajja binja li hi kunçettwalment difettuΩa.

BIDLA KOSTITUZZJONALI

Aqwa minn hekk: biex nirregolaw it-tmexxija ekonomika, qed immorru skont dan it-trattat, g˙al li©i... u lil hinn minn hemm se nag˙mluha li©i ta’ natura kostituzzjonali fuq il-mudell ÌermaniΩ. Pjan nazzjonali ta’ Ωvilupp ekonomiku se jispiçça parti mill-Kostituzzjoni. Il-parir li se nag˙ti fi ˙dan il-grupp parlamentari Laburista hu dan: inda˙˙lu din il-li©i fil-Kostituzzjoni g˙ax ma nistg˙ux nag˙mlu mod ie˙or; imma tkun ©ennata li kif semma l-Ministru, inda˙˙luha biΩ-Ωew© terzi: ji©ifieri mhux talli nag˙lqu ru˙na imma nag˙lqu ru˙na doppjament biex... fil-futur, ikollna bΩonn ta’ Ωew© terzi tal-voti fil-Parlament ˙alli ner©g˙u no˙or©u minn fejn inkunu ssakkarna. Din il-˙a©a ma tag˙milx sens. Ara, tal-anqas il-pjan nazzjonali ta’ Ωvilupp ekonomiku tas-snin sebg˙in, veru, kien li©i, u l-li©i g˙adha hemm fuq il-kotba tal-istatuti. Ovvjament, issa g˙adda Ω-Ωmien u ma tantx g˙andha relevanza. F’kuntest b˙al dan tag˙na tal-lum, fejn hemm fluwidità, perçezzjonijiet differenti, rebus nazzjonalista mal-Ewropa, dan il-metodu jag˙mel ˙afna u ˙afna anqas sens. Wara kollox l-Ewropa hi kontinent ta’ nazzjonijiet. G˙alhekk in˙ossni komdu fl-Ewropa: g˙ax hi kontinent ta’ nazzjonijiet. BiΩΩejjed tmur sal-Katalunja. Ftit taΩ-Ωmien


ilu hemm kont. Tiskanta: tara l-belt ta’ Barçellona kollha mimlija bnadar, mhux ta’ Spanja, imma tal-Katalunja, f’fawra kbira ta’ nazzjonaliΩmu. In-nazzjonaliΩmu jista’ jkun forza g˙at-tajjeb u jista’ jkun forza g˙all-˙aΩin. Na˙seb li ma rridux nitilqu g˙al g˙onq it-triq li twassal lil kul˙add biex jag˙Ωel bejn li jkun sempliçement nazzjonalista akkost ta’ kollox, jew li jkun bilfors miftu˙ g˙al kurrenti differenti. Minn hemm li jinbet l-estremiΩmu ta’ w˙ud, li assolutament mhux konformi mal-veru spirtu liberali tal-Ewropa. It-trattat li qed niddiskutu jirrappreΩenta punt radikali ta’ bidla fil-mod kif g˙al li ©ej, membri taΩ-Ωona ewro – imbag˙ad anke l-membri tal-Unjoni Ewropea – se j©ibu ru˙hom, ja©ixxu u jiΩviluppaw. Niddubita kemm se jkollu effett immedjat jew f’terminu medju ta’ Ωmien fuq


is-soluzzjoni, jekk qatt se nsibuha, tal-problemi taΩ-Ωona ewro. Imma nemmen ukoll fuq kollox li ma rridux nitilqu g˙al g˙onq triq li matulha nag˙lqu possibbilitajiet o˙ra ta’ Ωvilupp, triq imposta fuqna minn barra li tnaqqas l-opportunitajiet ta’ toroq o˙ra. Wa˙da mill-problemi li tista’ tinqala’, pereΩempju, hi li bir-rinfurzar ta’ strutturi çentralizzati u ta’ kontroll b˙al dawn li g˙andna quddiemna se ji©i mminat is-suq ˙ieles mag˙qud, is-single market, is-suq komuni Ewropew. Nisma’ l-argumenti favur li jkun hemm “two step Europe”. Irid ji©ifieri jkollok Ewropa li kapaçi ta©ixxi b’mod u Ewropa o˙ra li kapaçi ta©ixxi mod ie˙or. Imma jekk dawn id-diver©enzi bejn stati membri jaslu biex jimminaw il-koeΩjoni tas-single market, tas-suq wie˙ed – u qed nitkellem mil-lat ekonomiku – na˙seb li hemmhekk inkunu g˙amilna pass li jΩid in-nazzjonaliΩmu fl-aspetti koroh u diffiçli tieg˙u. G˙al dawn ir-ra©unijiet kollha, b˙al ̇ afna parlamentari nazzjonali fil-Ìermanja, fi Franza u f’pajjiΩi o˙ra, se nkun qed nivvota favur din ir-riΩoluzzjoni bl-ikbar riluttanza.

(Minn intervent fid-dibattitu tal-Parlament Malti dwar ir-riΩoluzzjoni g˙ar-ratifika tat-Trattat mag˙mul fit-02 ta’ Marzu 2012 fi Brussell, dwar Stabbiltà, Koordinazzjoni u Governanza - 03 ta’ Ottubru 2012)

Nivvota favur bl-akbar riluttanza 3�1

23

ÇAQLIQ KONTRADITTORJUFIÛ-ÛONA EWRO

Ftit taw kas fl-a˙˙ar jiem meta l-Parlament Malti ddiskuta x’inhu g˙addej fiΩ-Ωona ewro, li tieg˙u a˙na nifformaw parti. G˙amel dan billi approva r-ratifika minn Malta ta’ ftehim li bih ©ie mibdul it-trattat li jissettja l-arran©amenti g˙at-tmexxija ordinarja tal-Unjoni Ewropea; u billi ddiskuta r-ratifika ta’ trattat ©did, mag˙ruf b˙ala l-patt fiskali. Tal-a˙˙ar jorbot lill-pajjiΩi membri taΩ-Ωona ewro biex isegwu regoli ©odda stretti dwar kif imexxu l-finanzi pubbliçi tag˙hom u kif jikkontrollaw id-dejn nazzjonali. Qamet il-˙tie©a li jinbidel it-trattat li bih titmexxa l-Unjoni Ewropea g˙ax dan ma kienx jippermetti li ting˙ata g˙ajnuna bejn membri taΩ-Ωona ewro meta jiltaqg˙u ma’ diffikultajiet finanzjarji. Fl-a˙˙ar snin, bil-kriΩi taΩ-Ωona ewro dejjem g˙addejja, intla˙aq ftehim li a˙jar dil-biçça tinbidel. It-trattat messu jibda j˙alli li l-g˙ajnuna ting˙ata. B’hekk wara, permezz ta’ trattat ie˙or ©did, seta’ jitwaqqaf il-fond permanenti msejja˙ il-MekkaniΩmu g˙all-Istabbiltà

3�1

3�� MALTA u l-ewro/& the euro (2)

Ewropea, iddotat bi flejjes mill-pajjiΩi membri tal-ewro, biex iwieΩen lill-pajjiΩi fosthom li jkunu se jog˙tru.

KARETTUN QABEL IÛ-ÛIEMEL

Fil-fatt, fil-Parlament, il-gvern po©©a l-karettun qabel iΩ-Ωiemel. Kif g˙amlu pajjiΩi o˙ra, l-ewwel messna rratifikajna l-bidla fit-trattat li bih titmexxa l-Unjoni Ewropea. Wara jew fl-istess ̇ in, kellna nirratifikaw it-trattat ©did li bih twaqqaf il-MekkaniΩmu g˙all-Istabbiltà Ewropea. G˙amilna bil-maqlub. Qabel il-waqfa tas-sajf, il-Parlament irratifika t-trattat tal-MekkaniΩmu g˙all-Istabbiltà Ewropea. U fl-a˙˙ar ©ranet il-Parlament irratifika l-bidla fit-trattat tat-tmexxija tal-Unjoni Ewropea, li ppermetta l-˙olqien tal-MekkaniΩmu. Insomma, is-soltu borma a la Maltija. Sadattant, fuq ir-runway parlamentari kif g˙edna, kellna jistenna g˙ad-diskussjoni t-trattat imsejja˙ il-patt fiskali. F’kitbiet o˙ra dwar l-ewro matul ix-xhur img˙oddija, konna tkellimna dwar dal-patt. Ìie mbuttat bil-kbir mill-Ìermanja s-sena li g˙addiet hekk kif beda jiΩdied il-kju ta’ pajjiΩi fl-ewro li fuqhom waqa’ dell finanzjarju. Il-Kançillier Merkel kienet insistiet li fi ˙dan iΩ-Ωona ewro jid˙lu regoli stretti ta’ tmexxija tal-ba©its tal-gvernijiet, li jixbhu regoli li jeΩistu fil-Ìermanja. Hi riedet li dawn ir-regoli jkollhom ukoll irbit kostituzzjonali f’kull pajjiΩ. Merkel sa˙qet li pajjiΩi li ma jsegwux ir-regoli jkunu sorveljati mill-qrib u anki “kastigati” b’multi. Riedet li s-sorvelja tinkludi li qabel jitlestew, il-ba©its annwali tal-pajjiΩi ewro kellhom ji©u mist˙arr©a mill-Kummissjoni Ewropea biex din tag˙ti pariri u direttivi dwarhom. Meta bdiet timbotta dan il-patt f’Ottubru tas-sena l-

Çaqliq kontradittorju fiΩ-Ωona ewro 3�3

o˙ra, Merkel sabet l-appo©© tal-President FrançiΩ ta’ dak iΩ-Ωmien Sarkozy. Flimkien kienu rrankaw in-negozjati biex sa Jannar ta’ din is-sena, il-patt kien kwaΩi maqbul.

PATT IVVIZZJAT

Personalment nemmen li l-patt hu vvizzjat. Qed jag˙ti forza ta’ li©i lil strate©ija ekonomika u finanzjarja li tista’ tkun korretta g˙al xi Ωmien, imma li ma tistax tibqa’ korretta g˙al dejjem. Tista’ u g˙andek tirregola l-ekonomija u l-finanzi – imma m’g˙andekx tuΩa li©i biex tippjanta u twettaq strate©ija nazzjonali jew kontinentali f’dawn l-oqsma. Jidhirli li dan hu l-akbar kontrasens li jista’ jsir. L-aktar li kienu wassluh ’il bog˙od kienu s-Sovjetiçi bil-pjani tag˙hom ta’ ˙ames snin. Issa, g˙a©eb tal-g˙e©ubijiet, qed narawh ise˙˙ mill-©did fl-Unjoni Ewropea “liberali”. Forsi l-a˙jar post fejn dan l-argument jitpo©©a, mhuwiex hawn, imma fil-Parlament Malti, kif se nkun qed nipprova nag˙mel. Biss, ukoll fiç-çirkostanzi li ninsabu fihom, paradoss ie˙or hu li ma nistg˙ux inΩommu lura milli niffirmaw il-patt fiskali, ivvizzjat kemm hu vvizzjat. Din hi konsegwenza tad-deçiΩjoni kompletament Ωbaljata li ˙a l-gvern Nazzjonalista biex ida˙˙al lil Malta kmieni wisq, u kontra l-interess veru tag˙na, fiΩ-Ωona ewro. Bl-ebda mod, ma nistg˙u nkunu qed nimmarçjaw g˙al rasna jew out of step mal-bqija. Sa mill-bidu tal-kriΩi tal-ewro, deher çar li l-pajjiΩi membri taΩ-Ωona ma kellhomx biex jilqg˙u g˙aliha. U minn hemm bdiet il-˙idma biex itellg˙u xi lqug˙. Sal-lum, bi ftehim bejn il-pajjiΩi konçernati, dan l-ilqug˙ qed jie˙u din is-sura: Hemm issa l-fond permanenti g˙as-salvata©© (g˙all-


bailout) ta’ pajjiΩi f’diffikultà, il-MekkaniΩmu g˙all-Istabbiltà li semmejna. Dan il-Fond beda jopera mill-©img˙a li g˙addiet. Se jkollu sa˙˙a ta’ 700 biljun ewro minn kontribuzzjonijiet tal-istati membri, fosthom Malta. Imma qed jintqal li b’self li jista’ jid˙ol g˙alih il-fond innifsu, l-ammont li se jkun jista’ j˙addem g˙andu mnejn ila˙˙aq l-�000 biljun ewro. It-tieni lqug˙ se ji©i mill-garanziji li suppost joffri l-patt fiskali lill-investituri fis-swieq finanzjarji tal-flus: il-pajjiΩi membri tal-ewro se jkunu qed imexxu l-finanzi tag˙hom b’mod “responsabbli”. Il-patt jibda jse˙˙ malli ji©i rratifikat minn tnax-il firmatarju, ˙a©a li mistennija ti©ri dalwaqt. Ta’ min jg˙id ukoll li matul l-a˙˙ar sentejn, il-Kummissjoni Ewropea kienet ing˙atat poteri ta’ sorvelja u st˙arri© fuq il-finanzi tal-pajjiΩi membri tal-Unjoni Ewropea. Il-patt fiskali jsa˙˙a˙ dawn il-poteri u jag˙milhom aktar iebsa.

INIZJATTIVI TAL-BANK EWROPEW

Madankollu dan l-a˙˙ar da˙al ilqug˙ ie˙or – ipprovdut mill-Bank Çentrali Ewropew. Difett ewlieni fil-binja tal-ewro dejjem kien li l-Bank Çentrali Ewropew ma ja©ixxix bl-awtorità s˙i˙a li s-soltu jkollu bank çentrali nazzjonali, b˙al pereΩempju l-Bord Federali ta’ RiΩerva fl-Istati Uniti. Il-Bank Çentrali Ewropew ma jistax “jistampa” l-ewro bl-istess libertà li biha l-bank çentrali Amerikan jew dak IngliΩ jistg˙u jo˙or©u dollari jew sterlini. L-aktar g˙an importanti, kwaΩi l-uniku, impo©©i quddiem il-Bank Çentrali Ewropew hu li ji©©ieled kontra l-inflazzjoni – l-g˙oli tal-˙ajja... mhux li jilqa’ g˙all-fallimenti finanzjarji tal-pajjiΩi membri li j˙addmu l-ewro.


Issa, minn tmiem is-sena li g˙addiet lil hawn, ta˙t it-tmexxija ta’ President ©did, it-Taljan Mario Draghi, il-Bank Çentrali Ewropew beda jie˙u inizjattivi ˙afna aktar qawwija. Sa Frar kien ˙are© mal-mitejn biljun ewro ta’ self b’img˙ax mill-aktar ir˙is lill-banek Ewropej ˙alli dawn isostnu n-negozji g˙addejja. Jekk il-banek jibqg˙u jnaqqsu, kif kienu qed jag˙mlu, mis-self li jag˙tu lill-impriΩi – g˙ax jitwerwru mir-riskji dejjem jiΩdiedu fost l-ekonomiji tal-ewro – dawn l-istess ekonomiji kienu se jaqilg˙u daqqa akbar. Matul is-sajf imbag˙ad, Draghi ˙abbar li l-Bank Çentrali Ewropew kien lest jibda jixtri ç-çedoli ta’ self li jkunu qed jo˙or©u l-pajjiΩi membri tal-ewro, hekk kif jara li pajjiΩ se jkollu jaffaççja mg˙ax g˙oli ΩΩejjed g˙as-self li jixtieq jag˙mel fis-swieq finanzjarji. Img˙ax g˙oli “iΩΩejjed” kien ifisser li se jiΩdiedu l-ispejjeΩ biex il-pajjiΩ konçernat i˙allas g˙ad-djun li jag˙mel. BiΩ-Ωieda fl-ispejjeΩ, se jkompli jitg˙akkes. Wara, ˙ar©et kjarifika: il-Bank Ewropew se jixtri ç-çedoli ta’ self biss ta’ pajjiΩi li jaççettaw çerti kundizzjonijiet ta’ tmexxija mag˙mula mill-Bank innifsu – ˙a©a li qarrset ˙afna wçu˙. Biss, id-dikjarazzjoni ta’ Draghi kellha effett: ikkalmat il-biΩa’ li pajjiΩi b˙al Spanja jew l-Italja setg˙u jispiççaw fixxa, g˙ax jin˙onqu mill-img˙axijiet g˙olja li se jkollhom jitg˙abbew bihom fuq is-self li jo˙or©u. Il-manuvrar ta’ Draghi qajjem kontroversja mhux Ωg˙ira fi ˙dan l-istess Bank Çentrali Ewropew u barra minnu, l-aktar fil-Ìermanja u l-Finlandja. Intqal li l-Bank kien qieg˙ed jeççedi l-poteri mog˙tija lilu, u jinsa li l-aqwa g˙an tieg˙u hu dak li jikkumbatti l-inflazzjoni. Meta l-proposti ta’ Draghi waslu g˙al vot fil-bord tal-


Bank, id-direttur ÌermaniΩ biss ivvota kontra tag˙hom u g˙addew. Il-Ìermanja l-aktar li tikkontribwixxi g˙all-assi tal-Bank. Ma tlumhomx: ©urnalisti ÌermaniΩi lmentaw kif mhux sew li pajjiΩhom g˙andu l-istess vot b˙al Malta.

SPANJA

G˙ax matul dis-sena, kif nafu, il-kriΩi tal-ewro kienet iççaqalqet lejn Spanja u anki l-Italja. Ma fissirx li l-problemi tal-Greçja ttaffew, bil-maqlub; jew li dawk tal-Portugall ˙fiefu – le! Imma l-ekonomija Spanjola hi r-raba’ l-akbar fiΩ-Ωona tal-ewro. U issa n˙akmet minn problemi fondamentali fil-banek tag˙ha. Dawn tilfu biljuni ta’ ewro f’self ˙aΩin li g˙amlu, l-aktar fis-settur tal-bini… Ukoll, inqalg˙u problemi kbar fir-re©juni awtonomi ta’ Spanja. Huma spiççaw b’˙ofor finanzjarji kbar fil-ba©its tag˙hom u daru g˙all-gvern Spanjol biex isalvahom. F’Lulju li g˙adda, il-gvern tal-Prim Ministru Rajoy ˙aseb li ©ab g˙ajnuna minn s˙abu l-mexxejja taΩ-Ωona ewro f’forma ta’ self li jkun intiΩ g˙all-banek tieg˙u biss. Min˙abba f’hekk, ma kellux jitgeΩwer fil-kundizzjonijiet ˙orox dwar tmexxija ekonomika u finanzjarja li huma parti minn bailout, minn salvata©© b˙al dak offrut lill-Greçja pereΩempju – kundizzjonijiet li j©ibu mag˙hom diΩgwid kbir politiku u soçjali. Matul is-sajf, Rajoy stenna l-flus imwieg˙da li baqg˙u ma waslux. Il-proposti u l-kalkoli ta’ Spanja dwar fejn kienet tinsab ©ew eΩaminati u rieΩaminati f’dettall kbir mill-esperti taΩ-Ωona ewro. Qam sentiment li, wara kollox, Spanja kellha bΩonn mhux biss tal-g˙ajnuna parzjali li xtaqet g˙all-banek tag˙ha, imma ta’ bailout s˙i˙. Rajoy sostna li ried iΩ-Ωmien


biex jifli dil-˙a©a a˙jar. Kienet riesqa elezzjoni re©jonali importanti u x’aktarx jitlifha jekk jibda jinnegozja kmieni wisq dwar bailout. Biex tag˙qad, qamet problema kbira o˙ra. Fil-Katalunja, re©jun ewlieni ta’ Spanja li spiçça minn ta˙t finanzjarjament, Ωbroffat b’qawwa kbira l-g˙ajta g˙all-indipendenza. Hu f’dan l-isfond li wie˙ed irid jifhem id-deçiΩjonijiet li beda jie˙u Draghi fil-Bank Çentrali Ewropew. Quddiem l-inçertezzi fi Spanja miΩjuda mal-problemi “qodma” tal-ewro, is-swieq finanzjarji bdew jitolbu mg˙axijiet dejjem og˙la g˙al self Spanjol. L-istess problema infettat lill-Italja, li ta˙t il-Prim Ministru Monti kienet osservat il-kundizzjonijiet ta’ tmexxija mixtieqa mid-diri©enti taΩ-Ωona ewro.U xorta wa˙da l-img˙axijiet g˙as-self tag˙ha bdew telg˙in m’og˙la s-smewwiet. L-inizjattiva ta’ Draghi swiet biex tikkalma dawn it-tensjonijiet. Sadattant, imma, da˙let inizjattiva o˙ra, imbuttata minn Brussell u Frankfurt, ma˙suba biex tiΩgura li t-tmexxija tal-banek fiΩ-Ωona ewro tkun sorveljata fuq baΩi Ewropea. Il-˙sieb hu li l-pajjiΩi kollha taΩ-Ωona ewro juru l-istess serjetà biex jassiguraw li l-banek tag˙hom huma sodi. B’hekk, ji©i Ωgurat li kriΩi f’xi bank jew banek ma tirbombjax fuq il-pajjiΩi tal-ewro b’mod li t˙arbat il-funzjonament taΩ-Ωona, kif ©ara bi Spanja u l-Irlanda.

LEJN GÓAQDA BANKARJA

Allura issa telqu t˙ejjijiet ©odda biex tin˙oloq l-hekk imsej˙a g˙aqda bankarja Ewropea, b’sorvelja qawwija mill-Bank Çentrali Ewropew. JeΩistu dubji kbar kemm dil-˙a©a tista’ tirnexxi jew tag˙mel sens fil-kundizzjonijiet


attwali. Mistoqsija kbira hi jekk is-sorvelja u l-kontroll fuq livell Ewropew g˙andux isir g˙all-banek kollha fl-Ewropa, jew g˙andux isir biss g˙all-banek kbar u b’importanza “sistemika” fiΩ-Ωona ewro. Il-Kummissjoni Ewropea hi favur l-ewwel triq. Il-Ìermanja tippreferi t-tieni wa˙da. F’linja ma’ dan l-iΩvilupp tqanqlet ˙erqa fost çerti pajjiΩi biex is-setturi finanzjarji jkunu kontrollati u ntaxxati aktar. (G˙al ra©unijiet ovvji, Malta hi kontra dil-˙a©a, g˙alkemm ma tantx tista’ ΩΩommha milli tinfirex.) Hemm di©à qbil bejn numru sostanzjali ta’ pajjiΩi (fosthom Franza u l-Ìermanja) biex ida˙˙lu taxxa fuq in-negozji finanzjarji. Il-˙sieb tag˙hom hu li din it-taxxa mbag˙ad isservi b˙ala s-sinsla ta’ finanzjament çentrali g˙at-tmexxija taΩ-Ωona ewro kollha kemm hi. Dwar dan nisimg˙u aktar fix-xhur li ©ejjin. Se nkomplu naraw ise˙˙u ©rajjiet kontradittorji fiΩ-Ωona ewro. Forsi ma jkunux spettakolari daqs ta’ qabilhom. Imma ma ne˙odhiex bi kbira jekk jo˙olqu inçertezzi akbar. L-g˙ajta ta’ “more Europe” – “aktar Ewropa” – li qed tintuΩa favur çentralizzazzjoni dejjem akbar tal-politika finanzjarja biex tin˙all darba g˙al dejjem il-kriΩi tal-ewro, bir-ra©un mhix tikkonvinçi lill-popli Ewropej. Qed jarawha b˙ala skuΩa mill-elites politiçi biex ida˙˙lu l-federaliΩmu li ilhom jippuntaw g˙alih. Qed jifhmu li huma, il-popli-˙addiema, se jkollhom jibqg˙u j˙allsu l-prezz tal-politika ta’ awsterità li donnu mhux se jkollha tmiem. Óafna jqisu li “more Europe” hi formola g˙al aktar, mhux anqas, problemi u ineffiçjenzi. Jien l-ewwel wie˙ed ma nlumhomx li ja˙sbu hekk. Mhux ta’ b’xejn li l-protesti popolari qed jer©g˙u jinfirxu, fil-Greçja, il-Portugall, Spanja u l-Italja, u issa Franza.


KONTRADITTORJI

G˙ax sadattant, il-Greçja g˙adha daharha mal-˙ajt wara sitt snin ta’ martirju ekonomiku. Il-Portugall qed jing˙ata grazzja ta’ sena peress li ma la˙aqx il-miri ssettjati – mhux tort tieg˙u. Ir-rata ta’ qg˙ad fi Spanja hi tal-wa˙x, bla ebda sens li se titjieb malajr. Çipru talab hu wkoll g˙al bailout u qed ji©i kkritikat li baqa’ ma ppreΩentax il-pjan preçiΩ li talbu minnu. Fi Franza, bit-tieni l-akbar ekonomija fiΩ-Ωona ewro, qed iqumu dubji ©odda dwar kemm din tista’ tonora r-regoli ssettjati fil-patt fiskali.U fl-Irlanda, li bla dubju ta’ xejn g˙amlet l-akbar progress finanzjarju, il-qag˙da soçjali hi miΩerabbli g˙all-a˙˙ar. G˙al u˙ud, dan iç-çaqliq kontradittorju jin˙ass anqas inkwetanti mill-kriΩijiet li konna nisimg˙u dwarhom fit-tliet snin li g˙addew. Jew forsi tant drajna nisimg˙u b’kemm iΩ-Ωona ewro laqatha l-maltemp, li l-inçertezzi fi ˙danha saru mod ta’ g˙ajxien kurrenti. Ìimg˙a o˙ra se jsir summit ie˙or tal-mexxejja taΩ-Ωona ewro li fuqu qed jitpo©©ew ̇ afna tamiet. Jalla jirnexxi; imma kien hemm laqg˙at o˙ra b˙alu qabel u bqajna fejn konna.

(It-Torça, 14 ta’ Ottubru 2012)


24

X’JAQBEL LI TPERREÇ

Il-gvern g˙amel ˙afna plejtu g˙ax qal li ça˙ad ir-rakkomandazzjonijiet li l-Kummissjoni Ewropea g˙afset fuqu dwar it-tmexxija tal-pajjiΩ. Tridu jer©a’ jg˙olli l-età tal-pensjoni u jara kif iΩarma s-sistema li biha kull sena l-pagi ji©u mçaqilqa ˙alli l-˙addiema jing˙ataw xi kumpens g˙all-g˙oli tal-˙ajja. Li ma qalx hu li xorta wa˙da r-rakkomandazzjonijiet tal-Kummissjoni g˙addew mill-Kunsill Ewropew – ji©ifieri l-og˙la organu tal-Unjoni Ewropea. G˙andhom ji©u ppubblikati, jekk dan g˙adu ma se˙˙x, fil-Ìurnal Uffiçjali tal-Unjoni Ewropea b˙ala Opinjoni tal-Kunsill. Barra milli ssammar lill-gvern fuq pensjonijiet u l-kumpens g˙all-g˙oli tal-˙ajja, l-Opinjoni tikkritika l-andament tal-pajjiΩ fuq materji o˙ra. Tg˙id li l-mod kif il-gvern qed ibassar id-d˙ul u l-˙ru© tieg˙u g˙as-snin li ©ejjin hu ottimistiku wisq. Issostni li Malta qed i©©orr riskji kbar fis-sostenibbiltà tal-finanzi pubbliçi tag˙ha. Targumenta li d-daqs tas-settur finanzjarju u bankarju f’Malta hu kbir wisq imqabbel mad-daqs ekonomiku tal-pajjiΩ. Jekk das-settur imajna, se jkun hemm konsegwenzi ˙Ωiena ˙afna g˙all-bqija tal-ekonomija.

330

X’jaqbel li tperreç 331

Investituri barranin u o˙rajn interessati f’Malta Ωgur se jikkonsultaw l-Opinjoni tal-Kunsill Ewropew. Mhux se jie˙du impressjoni tajba. Il-gvern baqa’ kwiet dwar dawn il-punti l-o˙ra li tqajmu. Min jaf g˙aliex? Ma nafx kemm hi idea tajba din li l-Ewropa toqg˙od tperreç id-“difetti” tal-pajjiΩi membri tag˙ha. B’dan tista’ ΩΩid il-gwaj tal-pajjiΩi li tikkritika, anki jekk qed tag˙mel hekk biex i©©ag˙alhom “jirriformaw”.

07 ta’ Lulju 2012***

BEJN GREÇJA U ÌERMANJA

Nhar il-Ìimg˙a, il-Prim Ministru Grieg Samaras kellu jiltaqa’ mal-Kançillier ÌermaniΩa Merkel, l-g˙ada mal-President FrançiΩ Hollande. Qed jitlob li jing˙ata aktar Ωmien biex fih ikun jista’ jwettaq il-miΩuri ta’ awsterità li l-Greçja wieg˙det li se dda˙˙al talli l-pajjiΩi l-o˙ra membri taΩ-Ωona ewro jo˙or©ulha l-biljuni f’self ta’ g˙ajnuna. Se jkun hemm reΩistenza kbira g˙at-talbiet Griegi. Fil-Ìermanja speçjalment mhux ̇ lief isiru dikjarazzjonijiet iebsa li l-Griegi ma jistg˙ux jibqg˙u jiddie˙ku bil-bqija tal-Ewropa u ma jwettqux il-weg˙diet tag˙hom. Fil-Greçja, id-dwejjaq tal-poplu bil-miΩuri ta’ tnaqqis fid-d˙ul tal-familji mhux ̇ lief jiΩdied. Il-pajjiΩ jinsab riesaq dejjem eqreb tax-xifer. Matul is-sajf saru stqarrijiet minn diri©enti Ewropej dwar kif ma jkunx diΩastru jekk il-Greçja jkollha t˙alli Ω-Ωona tal-ewro. Sa ftit xhur ilu stqarrijiet hekk kienu jitqiesu ta’ barraminnhawn. Mhux aktar.

23 ta’ Awwissu 2012 ***


IL-QORTI KOSTITUZZJONALI ÌERMANIÛA

Ma stag˙©ibtx li l-Qorti Kostituzzjonali ÌermaniΩa approvat ir-ratifika mill-Ìermanja tat-trattat li qed iwaqqaf il-fond imsejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea biex “jiddefendi” l-ewro. Lanqas li l-Qorti da˙˙let regoli dwar kif g˙al li ©ej fit-t˙addim tal-fond, il-Parlament ÌermaniΩ irid iΩomm il-poter tad-deçiΩjoni.G˙alkemm fil-Ìermanja qamet kontroversja s˙i˙a dwar din il-biçça, l-esi©enzi politiçi u r-realtà kostituzzjonali kienu jindikaw it-triq li ˙adet il-Qorti. Intilef Ωmien prezzjuΩ fit-twaqqif tal-fond. Biss, matul is-sajf, minkejja l-problemi jikkargaw fi Spanja u l-kriΩi bla waqfien fil-Greçja, bil-manuvri delikati u makakki li wettaq, il-kap tal-Bank Çentrali Draghi rnexxielu jikkalma l-inçertezzi fis-swieq finanzjarji. Tal-anqas sa issa.


***

TAXXA FUQ TRANSAZZJONIJIET FINANZJARJI

Numru biΩΩejjed ta’ pajjiΩi membri tal-Unjoni Ewropea qablu li g˙andha tidda˙˙al taxxa ©dida fuq il-bejg˙ u x-xiri ta’ obbligi finanzjarji. It-taxxa se jkunu jistg˙u jda˙˙luha bejniethom skont ir-regoli tal-Unjoni. Malta hi fost il-pajjiΩi li ma qablux mal-proposta. Xi w˙ud mill-punti favur u kontra: ---Is-settur tas-servizzi finanzjarji, li qala’ daqstant tweg˙ir u kriΩijiet fl-a˙˙ar snin, m’g˙andux jibqa’ l-qasam l-anqas intaxxat, meta mbag˙ad il-popli qed ikollhom i©orru


l-piΩijiet tal-frakassi li ˙alaq. Ftit tista’ tg˙id le g˙al din l-osservazzjoni. ---Jekk it-taxxa ma jda˙˙luhiex il-pajjiΩi kollha, dawk li jda˙˙luha se jpo©©u l-qasam finanzjarju tag˙hom fi Ωvanta©©. Malta, b’ekonomija li tiddependi bil-kbir mis-servizzi finanzjarji, qed tag˙mel dan l-argument. ---Id-d˙ul mit-taxxa fuq servizzi finanzjarji g˙andu jmur g˙al fond çentrali li jservi ta’ teΩorerija g˙aΩ-Ωona tal-ewro. Taqbel ma’ din il-proposta jekk temmen li Ω-Ωona ewro g˙andha ssir g˙aqda federali bil©ri.


***

B’APPOÌÌ LILL-GREÇJA

Bil-miΩuri ta’ awsterità imposti fuq il-Greçja, l-ekonomija tag˙ha baqg˙et f’riçessjoni. Minkejja s-self ta’ g˙exieren ta’ biljuni ta’ ewro li n˙are© mill-Ewropa u l-Fond Monetarju Internazzjonali lill-Greçja din mhix tla˙˙aq mal-miri ssettjati. U˙ud mill-miΩuri li kellu jie˙u l-gvern waqg˙u lura. Issa qed jit˙ejja ftehim biex il-Greçja ting˙ata “çans ie˙or”. IΩ-Ωmien li fih se t˙addem il-miΩuri ta’ “riforma” u t˙allas lura dak li ssellfet se jitwal. Dawn il-miΩuri jfissru nefqa ©dida g˙all-pajjiΩi li qed jikkontribwixxu g˙as-“salvata©©” tal-Greçja. Wa˙da mill-istimi tal-ispiΩa l-©dida tla˙˙aq 33 biljun ewro. Mhux çar kif se titqassam fost il-pajjiΩi parteçipanti fis-self Grieg. PereΩempju kemm se ji©i s-sehem Malti?

15 ta’ Novembru 2012***


PATT FISKALI VS KOEÛJONI

Fl-a˙˙ar xhur baqg˙et g˙addejja taqtig˙a bejn il-membri tal-Unjoni Ewropea dwar kif se jorganizzaw il-ba©its tal-Unjoni fis-snin li ©ejjin. Kien hemm dawk li riedu li n-nefqa tinΩamm kajmana g˙al sena wara l-o˙ra. U dawk li riduha tiΩdied biex ikunu jistg˙u ji©u ffinanzjati aktar pro©etti li bihom jistg˙u jikbru l-ekonomiji tal-pajjiΩi li jinsabu “minn ta˙t” – mira valida g˙ax tippromwovi aktar “koeΩjoni” bejn l-istati membri. Biss, jekk se tiΩdied in-nefqa, xi ˙add se jkollu j˙allas g˙aliha. Huma preçiΩament il-pajjiΩi li se jkollhom i˙allsu g˙aliha li o©©ezzjonaw bil-kbir. Ma nafx kif tista’ tlumhom. Jien naqbel mal-miri ta’ “koeΩjoni” li ©ew ipproklamati minn grupp ta’ pajjiΩi membri tal-UE, fosthom Malta. Imma mbag˙ad nara kontradizzjoni fondamentali bejn dil-poΩizzjoni li ˙adu, u l-fatt li l-istess pajjiΩi qed jid˙lu fil-patt fiskali g˙aΩ-Ωona ewro, im˙assel mill-Ìermanja. Skont dal-patt, huma se jintrabtu li fil-ba©its nazzjonali jΩommu bilanç jew li jispiççaw kull sena minn fuq. Se jintrabtu wkoll li kull sena jwarrbu flus biΩΩejjed biex i˙allsu lura parti mid-dejn nazzjonali tag˙hom meta, fid-daqs tieg˙u, ikun qabeΩ is-60 fil-mija tad-daqs tal-ekonomija tag˙hom – ˙a©a li qed ti©ri fosthom ilkoll. Ma nistax nifhem kif firmatarju tal-patt fiskali jista’ mbag˙ad jippreΩenta ru˙u “favur” il-“koeΩjoni”.


***


FATTI

Bejn l-�007 u l-�011, Malta ̇ allset dawn il-kontribuzzjonjiet lill-Unjoni Ewropea fil-qafas tas-s˙ubija tag˙ha fl-Unjoni. Fis-sena �007, 53.1 miljun. Fl-�008, 63.9 miljun. Fl-�009, 6�.9 miljun. Fl-�010, 59.8 miljun. Fl-�011, 67 miljun. B’kollox total ta’ 306.7 miljun, fi ˙lasijiet lill-Unjoni bejn l-�007 u l-�011, barra minn spejjeΩ o˙ra g˙al çerti pro©etti varati mill-Unjoni. Iç-çifri jinsabu fir-rapporti finanzjarji tal-gvern Malti. U ma jinkludux is-somom ta’ kwaΩi biljun u nofs ewro f’fondi u impenji li da˙let g˙alihom Malta g˙all-˙arsien tal-munita tal-ewro. Sadattant, skont twe©iba mog˙tija fil-Parlament Ewropew lid-deputat Edward Scicluna, attwalment t˙allsu lil Malta fondi mill-Unjoni Ewropea bejn l-�007 u Ottubru �01�, li jammontaw g˙al �78 miljun. Dawn jinkludu 80 miljun li baqg˙u ma ntefqux u jekk ma jintuΩawx malajr, jintilfu. Bejn l-�007 u l-�011 ji©ifieri, apparti mill-impenji finanzjarji min˙abba l-ewro, Malta spiççat t˙allas ferm aktar lill-Unjoni Ewropea milli da˙˙let. Dan il-fatt ma jissemma mkien u minn ˙add.


(Blogg, inews, Lulju – Diçembru 2012)


25

DWAR L-EWRO: XI JMISS?

Il-kriΩi tal-ewro ilha mag˙na aktar minn tliet snin. PajjiΩi tal-kontinent Ewropew da˙˙lu munita wa˙da bejniethom xi snin ilu, waqt li baqg˙u jΩommu biçça kbira mill-awtonomija ekonomika u finanzjarja tag˙hom. Kienu qed jg˙umu fil-ba˙ar globalizzat fejn banek u istituzzjonijiet finanzjarji o˙ra jikkontrollaw triljuni ta’ fondi f’dollari u muniti o˙ra. F’tebqa ta’ g˙ajn, il-banek u istituzzjonijiet finanzjarji g˙andhom is-sa˙˙a jie˙du dawn il-fondi minn rokna g˙al o˙ra tad-dinja u j˙addmuhom fejn jonfo˙ ir-ri˙ tal-profitt. Meta – g˙ax kienu sparpaljaw il-fondi tag˙hom bla ebda prudenza – faqqg˙et kriΩi enormi fis-snin �007–�008 fuq dawn il-banek, iΩ-Ωona fejn kien jintuΩa l-ewro qalg˙etha. Instab li w˙ud mill-pajjiΩi tal-ewro, l-aktar fis-sud taΩ-Ωona, kienu nefqu wisq u uΩaw wisq il-g˙odda tad-dejn biex jag˙mlu hekk. Il-fatt li kienu parti miΩ-Ωona ewro inkora©©iehom f’din it-triq. Min˙abba li kellhom l-uΩu tal-ewro, pajjiΩi pjuttost dg˙ajfa b˙all-Greçja u l-Portugall setg˙u jissellfu u jonfqu qishom kienu qawwija daqs il-Ìermanja u l-Finlandja. Óadd ma paqpaq xi twissija.

336

Dwar l-ewro: xi jmiss? 337

REGOLI ÌODDA TA’ ÓARSIEN

Fl-a˙˙ar snin, iΩ-Ωona ewro laqg˙et g˙all-kriΩi li da˙let fiha billi biddlet ir-regoli li bihom titmexxa. G˙all-bidu, kull pajjiΩ kellu jkun responsabbli biex isewwi d-diffikultajiet li jinqalg˙ulu. Meta deher sew li l-Greçja kienet se tikkrolla, u warajha l-Irlanda u l-Portugall, idda˙˙lu miΩuri li bihom pajjiΩi f’g˙aw© kbir ikunu jistg˙u jing˙ataw g˙ajnuna permezz ta’ self mill-pajjiΩi l-o˙ra. Dil-˙a©a bdiet b˙ala inizjattiva “temporanja”. Sa tmiem is-sena �01�, kienet saret wa˙da permanenti. Twaqqaf fond, imsejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea, li jista’ jla˙˙aq saΩ-Ωew© triljuni ta’ ewro, b’kontribuzzjonijiet mill-membri kollha tal-ewro, biex jag˙ti self lill-pajjiΩ li ma jkunx jista’ jkampa. Madankollu, kull self jintrabat ma’ kundizzjonijiet iebsa dwar it-tmexxija finanzjarja tal-gvernijiet konçernati. Effettivament jikkonsistu fi tnaqqis qawwi tan-nefqa tal-gvern. Jintlaqtu mhux biss l-ispejjeΩ “Ωejda” imma o˙rajn ta’ natura soçjali, inkluΩi pagi, pensjonijiet u servizzi pubbliçi. U jiΩdiedu t-taxxi. L-g˙an ikun li n-nefqa tal-gvern tonqos u li d-d˙ul jikber sakemm titwitta l-˙ofra finanzjarja tal-pajjiΩi fi kriΩi, waqt li jroddu lura s-self li jkunu da˙lu g˙alih. Din il-politika ta’ awsterità, kif tlaqqmet, ©abet mag˙ha tbatijiet kbar, speçjalment fost saffi soçjali li jinsabu f’qag˙da anqas tajba. Intqal kemm-il darba li l-alternattiva kienet li jew il-pajjiΩi konçernati jit˙allew ifallu, ˙a©a li kienet i©©ib mag˙ha l-kollass taΩ-Ωona ewro – jew li jitilqu miΩ-Ωona ewro u jmorru lura g˙all-munita li kellhom qabel. FiΩ-Ωew© çirkostanzi, intqal, xorta wa˙da l-popli involuti kien ikollhom jg˙addu minn tbatijiet soçjali koroh. Barra minn


dan, st˙arri© li baqa’ jsir fost il-popli Ewropej kien juri li ma©©oranzi nazzjonali – anki meta jkunu kontra l-awsterità – ma kinux favur li pajjiΩhom jabbanduna l-ewro.

BEJN AWSTERITÀ U UNJONI POLITIKA AKBAR

Sena ilu, l-g˙aΩla l-kbira quddiem il-mexxejja taΩ-Ωona ewro kienet kif se jissalvagwardjaw l-integrità tal-ewro. Il-biΩa’ kien li jekk jillaxkaw l-awsterità fuq il-pajjiΩi bi problemi, id-djun li qed i©orru kienu se jispiççaw maΩΩra fuq kul˙add. Min-na˙a l-o˙ra, iΩ-Ωona ewro ma kellhiex l-istrutturi sodi ta’ tmexxija li kull territorju b’munita wa˙da suppost ikollu biex ikun jista’ jΩomm fil-wiçç. Dawn l-istrutturi s-soltu jinkludu tmexxija mag˙quda – b’teΩorerija çentrali pereΩempju, u bank çentrali qawwi – li tista’ tie˙u deçiΩjonijiet ekonomiçi u finanzjarji li jg˙oddu g˙al kul˙add. Óa©a b˙al din kienet i©©ib mag˙ha unjoni ekonomika u finanzjarja dejjem akbar. Kienet tfisser unjoni politika dejjem akbar, permezz ng˙idu a˙na ta’ strutturi federali li jnaqqsu sew l-indipendenza nazzjonali tal-pajjiΩi membri. Biss din it-triq ma tantx sabet appo©© fost il-pajjiΩi membri. Fil-biçça l-kbira tag˙hom kienu u g˙adhom impenjati biex i˙arsu s-sovranità tag˙hom. G˙alhekk, is-sena �01� kienet dominata minn sforzi biex jinΩamm bilanç bejn id-diversi tensjonijiet li affettwaw il-qag˙da ta’ pajjiΩi membri. L-g˙aΩla bejn li Ω-Ωona tal-ewro ssir g˙aqda federali, jew li tin˙all minn çerti membri li ma setg˙ux ila˙˙qu mal-esi©enzi tag˙ha, baqg˙et fuq l-a©enda. It-tieni g˙aΩla twarrbet sa issa, imma d-deçiΩjoni finali favur l-ewwel wa˙da baqg˙et ti©i posposta. U sadattant, iΩ-Ωona ewro baqg˙et tiffunzjona. Mhux bla ra©un, il-protagonisti tag˙ha sostnew li di©à din kienet kisba kbira.


Tnejn kienu l-a©enti li matul l-a˙˙ar sena wasslu g˙al dan ir-riΩultat li ma tantx tista’ tqisu sorprendenti. (G˙aliex le? – G˙ax tant hemm interessi vestiti marbuta maΩ-Ωamma tal-ewro, anki jekk l-istruttura tieg˙u hi difettuΩa, li mill-bidu nett kien prevedibbli li se jsir kulma seta’ jsir biex iΩ-Ωona ewro tinΩamm fuq saqajha.)

MERKEL, SCHAUBLE U DRAGHI

Kienu l-Ìermanja ta˙t il-Kançillier Merkel u l-Ministru tal-Finanzi Schauble minn na˙a – u l-Bank Çentrali Ewropew ta˙t il-President tieg˙u Mario Draghi, li kkontribwew l-aktar matul is-sena �01� g˙aΩ-Ωamma tal-ewro.

Il-Ministru tal-Finanzi ÌermaniΩ Wolfgang Schauble mal-Ministru tal-Finanzi OlandiΩ Jeroen Dijsselbloem.


Merkel u Schauble insistew li l-pajjiΩi kollha tal-ewro, u dawk li riedu jing˙aqdu maΩ-Ωona, kellhom iΩommu kontrolli stretti fuq il-mod kif jissettjaw u jmexxu l-ba©its tag˙hom. Li jonqosha Ω-Ωona ewro hi tmexxija çentrali li tista’ timponi deçiΩjonijiet ekonomiçi u finanzjarji li japplikaw g˙al kul˙add. Minflok, sakemm tid˙ol din it-tmexxija, kellu jkun hemm regoli li jorbtu lil ku˙add dwar kif jistg˙u jittie˙du deçiΩjonijiet nazzjonali ta’ nefqa minn gvernijiet differenti. U l-istess gvernijiet kellhom jaqblu dwar miΩuri tassattivi li bihom inaqqsu d-djun nazzjonali. Is-sena �01� rat jitwettqu sensiela ta’ miΩuri li taw poteri akbar lill-Kummissjoni Ewropea biex tinda˙al fid-deçiΩjonijiet li l-gvernijiet jie˙du dwar il-ba©its tag˙hom. Ftehim imsejja˙ il-patt fiskali, imbuttat mill-Ìermanja, se jobbliga b’mod tassattiv lill-membri kollha taΩ-Ωona tal-ewro biex jonoraw regoli stretti ta’ kif jimmuntaw il-ba©its tag˙hom. Jekk ma jag˙mlux dan, ikollhom ind˙il dirett minn Brussell biex i©eg˙elhom isegwu r-regoli. Jekk le, ma jistg˙ux jing˙ataw g˙ajnuna mill-MekkaniΩmu ta’ Stabbiltà Ewropea. Effettivament, il-pajjiΩi tal-ewro qed ji©u so©©etti g˙al dixxiplina stil “ÌermaniΩ” ˙alli Ωgur iwettqu l-impenji li da˙lu g˙alihom ta˙t il-Patt ta’ Stabbiltà li ta bidu g˙aΩ-Ωona ewro. Minn meta ©ie ffirmat dak il-Patt, kull pajjiΩ firmatarju kisru billi da˙al g˙al nefqa u g˙al djun li ma kellux jag˙mel. Issa qed jintqal li dan ma jistax isir aktar.

IL-QAGÓDA TAL-BANEK

Sadattant, in-na˙a l-o˙ra tal-munita fir-rigward tad-djun u n-nefqa tal-gvernijiet kienet il-qag˙da tal-banek Ewropej. U˙ud wettqu dnubiet kbar... sellfu bl-addoçç... fis-snin li


wasslu g˙all-kriΩi finanzjarja li kiddet id-dinja kollha bejn l-�007 u l-�008. O˙rajn ingarΩaw ru˙hom wisq man-nefqa li l-gvernijiet kienu qed jag˙mlu matul l-a˙˙ar g˙axar snin. L-inkwiet kien li, jekk min˙abba dan kollu, il-banek se jifgaw, mag˙hom kienet se tifga Ω-Ωona ewro. Kien hemm min qies li l-Bank Çentrali Ewropew kien dg˙ajjef wisq biex jag˙ti nifs me˙tie© lill-banek. Imma l-President Draghi tal-Bank Çentrali Ewropew ˙asibha mod ie˙or. Irran©a biex, f’Ωew© daqqiet, il-Bank jo˙ro© self ta’ erba’ triljuni b’img˙ax ta’ xi wie˙ed fil-mija lill-banek Ewropej li kellhom bΩonn il-flus biex ja˙dmu. In-nifs li tahom, b’hekk, ippermettilhom isostnu l-˙idma bankarja f’pajjiΩi b˙all-Italja u Spanja, lejn fejn tul ir-rebbieg˙a tas-sena �01� kienet riesqa s-s˙aba tal-kriΩi. Ter©a’, matul is-sajf, waqt li l-mexxejja Ewropej kienu g˙adhom bejn ˙altejn dwar kif se jilqg˙u g˙all-isfiduçja li baqg˙et tippersisti dwar l-ewro, Draghi qal li se jag˙ti appo©© bla limitu lid-difiΩa tal-ewro. Dad-diskors is-soltu jag˙mluh bankiera çentrali li g˙andhom poteri ˙afna aqwa fuq il-muniti nazzjonali milli g˙andu l-kap tal-Bank Çentrali Ewropew fuq l-ewro. Imma kien diskors li impressjona bil-kbir lis-swieq finanzjarji. Qag˙du lura milli “jattakkaw” l-ewro. Draghi Ωamm lil Spanja u ’l-Italja fil-wiçç. B’hekk, l-attenzjoni daret fuq il-banek li joperaw fi ̇ dan iΩ-Ωona ewro. Beda jintqal li kien importanti biex l-ewro jirpilja, li l-banek ma jibqg˙ux jin˙assu qishom qed ji©bdu l-gvernijiet ’l isfel, kif ©ara fl-Irlanda. Il-banek Ewropej kellhom jaqg˙u ta˙t kontrolli çentrali li jassiguraw li qed ja©ixxu bis-sens, skont regoli li japplikaw fl-Ewropa kollha. Il-mexxejja taΩ-Ωona ewro spiççaw jitkellmu dwar g˙aqda bankarja... b˙ala l-ewwel pass lejn g˙aqda ekonomika u politika akbar.


GÓAQDA BANKARJA

X’aktarx li din kienet tattika tajba. Fet˙et front fejn kien aktar façli li jintla˙aq kompromess milli fuq kwistjonijiet ˙afna aktar diffiçli, b˙al pereΩempju dwar li tidda˙˙al politika wa˙da dwar çerti forom ta’ tassazzjoni maΩ-Ωona tal-ewro kollha. Hu x’inhu, g˙alkemm l-a˙˙ar Kunsill Ewropew li sar ©img˙a ilu deher b˙ala eΩerçizzju fjakk fejn deçiΩjonijiet ©odda dwar g˙aqda ekonomika akbar twaddbu lura, inΩammet ir-rankatura fuq l-g˙aqda bankarja. Sa issa, jidher li din hi biΩΩejjed biex issostni l-fiduçja fiΩ-Ωona ewro. F’li g˙edna, ftit tkellimna dwar il-Greçja, il-Portugall, u l-pajjiΩi l-o˙ra li g˙adhom i©orru problemi ekonomiçi u soçjali kbar ˙afna. Il-qag˙da f’dawn il-pajjiΩi kienet tirrekjedi kitba o˙ra. Fil-fehma tieg˙i, minkejja kulma jintqal, il-problema fondamentali hi dwar jekk l-ekonomiji ta’ dawn il-pajjiΩi humiex se jie˙du l-˙ajja. Jekk le, iΩ-Ωamma tal-ewro se tispiçça eΩerçizzju antisoçjali fejn iΩ-“Ωg˙ar” se jibqg˙u j©orru l-piΩijiet g˙all-“kbar”. L-awsterità li biha qed titmexxa Ω-Ωona tal-ewro qed t˙alli warajha ˙sara soçjali liema b˙alha, fost anzjani u ˙addiema Ωg˙aΩag˙. Qed tpin©i lill-Ewropa b˙ala magna kapitalista li ftit jimpurtaha mis-sofferenzi taç-çittadini. Qed idda˙˙al fl-im˙u˙ tal-popli Ewropej li l-uniku mod kif t˙ares l-ewro hu billi tg˙akkes lis-saffi “ta’ ta˙t” tas-soçjetà. L-Organizzazzjoni Internazzjonali tax-Xog˙ol – l-I.L.O. – g˙al numru ta’ drabi ˙ar©et tikkritika l-miΩuri ta’ awsterità imposti fuq pajjiΩi b˙all-Greçja u l-Portugall. Skont hi, jikkalpestaw bl-aktar mod lampanti, id-drittijiet tal-˙addiema... u dan fl-Ewropa!


Min-na˙a l-o˙ra, jekk wie˙ed iΩomm mad-disinn li fuqu tfasslet iΩ-Ωona ewro, ftit jista’ jara alternattiva g˙all-awsterità. It-triq ’il quddiem jidher li trid tin˙adem fuq it-tbatijiet tal-˙addiema u l-impjegati, inkella jkun hemm id-dilluvju! Tul l-�01�, rajna kif l-impenn tal-President soçjalista Hollande fi Franza biex jo˙loq kontrapiΩ g˙all-awsterità spiçça fir-ramel. Dan hu Ωvilupp tal-mist˙ija. U g˙alhekk illum, a˙na u n˙arsu lejn is-sena �013, jo˙or©u tliet konkluΩjonijiet:

— is-sena li qed tag˙laq rat lill-ewro jibqa’ sostnut, kif kien previst, mill-gvernijiet involuti u rajna jitkabbru l-kontrolli fuq it-tmexxija finanzjarja tal-pajjiΩi membri;

— il-mixja lejn federaliΩmu g˙adha fuq l-a©enda imma mhix qed timxi ’l quddiem b’pass qawwi, g˙ax ir-reΩistenzi nazzjonali kontra tag˙ha g˙adhom kollha hemm;

— ma jidhirx li nstabet xi soluzzjoni jew xi alternattiva g˙all-awsterità minkejja li, barra milli to˙loq tbatijiet fost il-popli, mhix qed tg˙in biex l-ekonomiji jer©g˙u jirrankaw.

Fl-a˙˙ar mill-a˙˙ar, jekk iΩ-Ωona ewro mhux se jirnexxilha to˙loq xog˙ol u negozju, il-kriΩi hemm se tibqa’. Sa tmiem is-sena �01�, ma kienx jidher li t-tkabbir ekonomiku Ewropew se jispunta malajr. Kul˙add qed jittama li dan il-pronostku hu Ωbaljat.

(It-Torça, 23 ta’ Diçembru 2012)


IV. IL-POLITIKA U T-TMEXXIJA EKONOMIKA TAL-EWRO/

POLITICS AND THE EURO’S ECONOMIC MANAGEMENT

Jannar – Lulju 2013/January – July 2013

The politics of an intact euro 347

26

THE POLITICS OF ANINTACT EURO

The survival of the euro zone intact through the past year has been rightly understood as a political and technical achievement. Fears that the euro would collapse, that Greece would exit the zone or that financial markets would pile on unbearable pressures sparking new and massive crises were shunted aside. Eurostructures were kept in place by means of two approaches. The first was defined by a relentless push from Germany and like minded states for the introduction of a tighter fiscal discipline at national level by euro zone members. On this front too, a multilateral fund, the European Stability Mechanism, was successfully set up for the proper management of country bailouts. There were also efforts to establish new “federal” structures which at end year had taken the form of a fledgling banking union. Spearheaded by the European Central Bank led by Mario Draghi, appointed governor in late �011, the second approach was quite likely, more effective in calming the crisis. Early in �01�, the ECB flushed trillions of euros at

347


bargain basement rates into European banks, unclogging the credit system and reversing the growing signs of financial panic. Then in mid-summer, the ECB declared its resolve to defend the euro at all costs. Both steps were arguably taken at the outer margin of the ECB’s remit, or even outside it. But they were successful to ease the strains of the financial markets on the euro zone, especially on Spain and Italy. Faced with unsustainable and rising interest charges on their state debt, both countries were heading towards a bailout. The ECB’s move damped, even reversed, upwards pressures on their costs to service public debt.

BEYOND ECONOMY AND FINANCE

The hope now is that further incremental steps towards a banking union will mesh in with an improved and rigorous fiscal coordination. The latter is to be carried out in full respect of a balanced budget rule, while sustaining moves towards the establishment of new federal decision making institutions within the euro zone. That would give greater coherence to the management of the zone as a whole, breaking the vicious circle of mistrust about the euro that has characterized its long playing crisis. Crucial to the scenario will be the ability of the euro zone, or at least of its major economic engines, to generate growth plus the rapidity with which this is done. The experience of the past decade and a half justifies scepticism. For too long a period, Europe has been trailing in the global performance league. Its growth rates have lagged behind those of most major economic groupings, not just the emerging markets. There is little to show that this can change in the short term.


However, at the present state of play, one must go beyond the economic and financial scenarios to consider the political implications of what has been happening. The trend is towards federalization, but final decisions will still be shaped by political give and take. Here, the obvious first concern is whether and how the nation states that make up the European Union will regard federalization. That there is resistance to the concept from both right and left in many countries is obvious. Not only politicians, but ordinary people as well, are chary of giving up on sovereign rights held nationally. This has been the case even when substantial majorities in Europe were in favour of a more united Europe and/or in favour of introducing and keeping the euro. Moreover, there is wariness about how federalization will play out. The year �01� saw a consolidation of German influence on European decision-making. Much of the pretence that there existed some sharing of “power” with France was quietly ditched. Rarely will one find it stated in such crude terms: but the reality is that beyond the restrictions which federalism would impose on national sovereignty, a large proportion of decision-makers and citizens Europe-wide do not want to become dependent on German fiats. The irony is that within Germany too, quite a huge percentage – perhaps a majority – of the electorate is not at all keen on having their country become part of a federal European system. Frequently, Germany’s mainstream leaders seem to be fudging the issue but the proposals they make show clearly that they have decided that federalization is the only possible way forward. They need time and space for manoeuvre in order to convince the German people of this. Which is why the date of the German election is probably


the most important appointment this year on the European political calendar. Yet, though the pros and cons of federalization constitute the most salient aspect of the political scene, I doubt whether they amount to the most fundamental element in the mix. Other underlying issues could bring about divergent attitudes and trends, more difficult to resolve than the challenges of federalization. They relate to the concept of a European identity and to what a united Europe would really stand for.

THE EUROPEAN IDENTITY

Some might consider this a strange subject to bring up so soon after the EU was awarded the Nobel prize for peace. Actually, that award served to confirm the ambiguity that has been allowed to develop around the European project. For there have been two EUs. There has been the EU which in the aftermath of the Second World War, was constructed to eliminate once for all the occurrence of deadly wars in Europe that had been a feature of the continent, repeated for centuries. That peace objective was attained. A further bonus was that when the USSR collapsed, the EU acted as a very good buffer to contain the resulting instabilities. It provided diplomatic frameworks to accommodate the new geopolitical reality in Eastern Europe. Then there has been the EU which viewed economic, political and social integration as a strategy by which to reposition the European continent as a Superpower, at par with the US and now also China. Its direction became diplomatically hegemonic, through a widening and deepening


of membership structures. It avowed neo-liberal economic policies in full acceptance of the globalization agenda. And increasingly it adopted one-size-fits-all approaches to apply internal and external strategies. The jury is still out on whether these orientations have been really successful. That many get confused about which EU they are relating to is evident. One could argue that the Nobel prize citation and its accompanying public relations, themselves betrayed this confusion. The prize was really being given, and deservedly so, to the “first” EU. But then it was justified in terms of helping the “second” EU overcome its internal roadblocks, especially in the euro zone. It is unfashionable to make such a claim, but I have no problem making it: substantive political choices to confront Europe in coming months and years will be ideological in nature. Of course, the controversy over federalization is also ideological. But beyond it, there remains the question as to what Europe stands for. It has accepted market economics tempered by regulation; neo-liberal policies at state and continental levels; as well as globalization. Yet the ideological compromises struck between the right and the left from the late sixties to the eighties, are still paid lip service, even if they have become rickety or outdated. Furthermore, the impact of the euro zone crisis has totally undermined them.

COMPROMISE AND CONSENSUS

Few seem to remember that for a long time, the EU (EEC initially) was considered by the left and others, as a project of the right. Socialist and social democratic parties believed


– rightly – that though its peace aims for Europe were laudable, its mechanisms were designed on capitalist lines to favour big business. Eventually a compromise was reached by which a social dimension was crafted into the structures of the Union, through regional, social and developmental policies funded at European level. This approach had its own contradictions, but for a time, it worked. Later, it was extended to environmental issues. For a long while, the consensus between left and right on which European policies developed over the years was grounded on this compromise. Perhaps the best living symbol of the compromise-consensus was EU Commission President Jacques Delors, a committed socialist and Catholic, still considered as the best Commission president ever. Yet since his time, the social dimension of the compromise has been increasingly hemmed in. Neo-liberal policies and the pressures of globalization took their toll. A significant marker of this state of affairs became the failure of the so-called Lisbon agenda to refire an effective European social strategy. And now, as confirmed in �01�, the strategy by which the euro zone is ensuring its survival has continued to undermine the basis of the old compromise between the European right and left. To achieve fiscal rectitude, the euro zone has locked itself into a situation where austerity is the only solution. The burdens of downsizing and restructuring have been dumped on lower income citizens. Unemployment has been “allowed” to fester and grow – which for many on the left is unacceptable. Typically, ILO reports today criticize the anti-social impact that austerity measures are having on the


labour force in euro zone countries with the same slant that used to be deployed in the past with regard to developing African states. In reality, the basis on which the ideological consensus regarding a united European identity was forged between right and left no longer exists. So, the political debate that Europe faces goes beyond the “mechanics” of how to make federalism acceptable to its peoples – itself a fundamental issue. Just as fundamentally – if not more – Europe will need to focus on how the Union can remain coherent with the definition of its own identity, if it can only ensure the survival of the euro by enforcing a deadly austerity.

(The Malta Independent on Sunday, 06 January 2013)


27

DWAR IL-PAJJIÛI TAS-SUDTAL-EWRO

Matul l-a˙˙ar ©img˙at, l-ottimiΩmu fost il-pajjiΩi taΩ-Ωona ewro baqa’ jikber, tal-anqas g˙al kif iΩ-Ωona kien qed jirnexxilha tilqa’ g˙ad-daqqiet li w˙ud mill-pajjiΩi membri tag˙ha tas-sud setg˙u jaqilg˙u, kieku s-swieq finanzjarji kellhom jitilfu l-fiduçja fihom. Sa ftit xhur ilu, il-biΩa’ kien

354

Dwar il-pajjiΩi tas-sud tal-ewro 355

li meta ji©u biex i©eddu s-self tag˙hom ˙alli jiffinanzjaw in-nefqa pubblika, jew biex jissellfu aktar, pajjiΩi b˙al Spanja jew l-Italja kienu se jintalbu rati ta’ mg˙ax m’og˙la s-smewwiet. Dan biex min qed isellef ipatti g˙ar-riskju li jqis li se jie˙u meta jsellifhom. B’rati ta’ mg˙ax g˙olja wisq tant li l-Italja jew Spanja mhux se jkunu jifil˙u j˙allsuhom, il-problemi taΩ-Ωona ewro kienu jer©g˙u jaggravaw, g˙ax iΩ-Ωew© pajjiΩi huma fost il-kbar taΩ-Ωona ewro. Hekk kif din il-˙a©a ma ©ratx u s-swieq finanzjarji dehru sodisfatti b’rati ta’ mg˙ax “ra©onevoli” meta l-Italja u Spanja ˙ar©u jissellfu, kul˙add ˙a r-ru˙. Aktar u aktar g˙ax l-Irlanda – li sa ftit taΩ-Ωmien ilu sabitha ˙a©a impossibbli tissellef mis-swieq b’rati ta’ mg˙ax sostenibbli g˙aliha – issa re©g˙et resqet biex tissellef mis-swieq internazzjonali, u ntalbet hi wkoll img˙axijiet “ra©onevoli”.

MISTOQSIJIET KBAR

Dan ittie˙ed – l-aktar mill-Ìermanja – b˙ala sinjal ta’ kif tassew il-problemi finanzjarji taΩ-Ωona qed ji©u milqug˙a. Il-ÌermaniΩi kellhom kull interess iqisu l-affarijiet b’dan il-mod, peress li mal-Ewropa kwaΩi kollha – u anki fil-Ìermanja stess – l-insistenza tal-Kançillier Merkel favur politika ta’ awsterità – ta’ ssikkar taç-çinturin – g˙adha tqajjem kritika s˙una. Fl-a˙˙ar elezzjoni re©jonali fil-Ìermanja, kontra kull stennija, is-CDU – il-partit ta’ Merkel – spiçça tilef il-gvern. Fil-fatt, x’aktarx li r-ra©uni g˙aliex battiet il-pressjoni tas-swieq finanzjarji fuq is-self tal-pajjiΩi tal-ewro, ftit g˙andha x’taqsam mal-politika ta’ awsterità. X’aktarx li aktar ©ejja mill-mani©©i intelli©enti li wettaq tul is-sena li


g˙addiet il-gvernatur tal-Bank Çentrali Ewropew, Mario Draghi, meta ppompja flejjes enormi bl-ir˙is lejn il-banek tal-Ewropa. U meta ddikjara f’nofs is-sajf li g˙adda li l-Bank Çentrali Ewropew kien bi˙siebu jiddefendi l-integrità tal-ewro akkost ta’ kollox. Issa meta Draghi g˙amel il-manuvri tieg˙u, li ntlaqg˙u tajjeb mis-swieq finanzjarji, il-ÌermaniΩi xejn ma ˙adu gost! Qiesu li kien qieg˙ed jeççedi l-poteri tieg˙u. Minkejja l-ottimiΩmu li baqa’ jsostni ru˙u, g˙ad hemm mistoqsijiet kbar dwar kif se tkompli tiΩviluppa Ω-Ωona ewro. Kuntrast li qed jo˙ro© bl-aktar mod çar hu kif il-pajjiΩi membri taΩ-Ωona g˙adhom b’ekonomiji u soçjetajiet tassew differenti minn xulxin. Meta wie˙ed jitkellem dwar iΩ-Ωona ewro kollha kemm hi, ikun qed inessi dawn id-differenzi. Din il-˙a©a ssir ta’ spiss f’Malta, fejn pereΩempju nisimg˙u kelliema tal-gvern attwali jifta˙ru li, b’Malta membru taΩ-Ωona ewro, iffrankajna ˙afna mill-gwaj ta’ pajjiΩi o˙ra, kemm fil-kriΩi finanzjarja ta’ bejn l-�007 u l-�009, u kemm f’dak li ©ara wara. Dan it-tip ta’ diskors ftit jag˙mel sens. Marru tajjeb u marru ˙aΩin fl-a˙˙ar snin pajjiΩi Ewropej li kellhom l-ewro, daqskemm o˙rajn li ma kellhomx. Kull pajjiΩ, minkejja li kien jew ma kienx fiΩ-Ωona ewro, seta’ jla˙˙aq mal-problemi finanzjarji skont kemm kien attrezzat biex jilqa’ g˙alihom. Forsi allura tajjeb li wie˙ed jag˙ti ˙arsa lejn id-differenzi bejn dawn il-pajjiΩi, speçjalment illum fin-na˙a tas-sud.

NORD U SUD

Hi ˙a©a çara li Ωviluppat qasma bejn il-pajjiΩi tan-nord tal-ewro u dawk tas-sud. Mhux biss hemm differenza fis-sa˙˙a tal-magna produttiva u ekonomika tag˙hom, imma hemm


differenza wkoll fil-˙ila tag˙hom biex isostnu ru˙hom finanzjarjament b˙ala stati. Dawk tan-nord jinsabu fis-sod (li ma jfissirx li kollox ward u Ωahar g˙andhom); tas-sud – Greçja, Portugall, Çipru, Spanja, Italja – jinsabu maqbuda fit-tnalja ta’ qg˙ad u djun, imma kollha g˙al ra©unijiet differenti. Il-Greçja nefqet u ddejnet bl-addoçç g˙al snin twal. Setg˙et tag˙mel hekk inparti g˙ax kienet membru taΩ-Ωona ewro, bil-banek ÌermaniΩi u FrançiΩi jimpalawlha self fuq ie˙or ta’ biljuni ta’ ewro. Fl-a˙˙ar, id-diga çediet. Il-politika ta’ awsterità li l-Greçja kellha tmexxi fl-a˙˙ar snin, kif im©ieg˙la tag˙mel miΩ-Ωona ewro u mill-Fond Monetarju Internazzjonali, fgat kull tkabbir ekonomiku f’dan il-pajjiΩ, minkejja li fl-a˙˙ar tliet snin ikkançellawlu biçça mid-djun li kien tella’. Il-Portugall kellu l-problema li l-ekonomija tieg˙u baqg˙et g˙addejja b’pass g˙ajjien, bla wisq ˙ila biex jibdel jew isa˙˙a˙ il-produzzjoni tieg˙u. G˙ax kellu l-ewro, il-Portugall seta’ jissellef bla wisq problemi... sakemm skattat il-kriΩi. U l-problema tal-Portugall illum hi li xorta wa˙da l-ekonomija tieg˙u qed tiΩviluppa bil-mod wisq. Waqt li qed jobdi l-ordnijiet li jag˙tuh biex iΩid id-doΩa ta’ awsterita ̇ alli jkun jista’ jla˙˙aq mal-piΩijiet tad-djun... kif qed jag˙mel... xorta wa˙da l-Portugall qed isib li l-piΩ tad-djun mhux ˙lief jiΩdied.

ÇIPRU

Waqt li Çipru jinsab maqbud minn na˙a bl-effetti ta’ diΩastru nazzjonali meta sena u nofs ilu splodiet power station essenzjali. U min-na˙a l-o˙ra jinsab imsallab bil-problema li banek Çiprijotti kienu marbuta mill-qrib wisq ma’ banek


Griegi u ma’ self li ̇ are© mill-istat Grieg. Meta das-self beda ji©i kkançellat, il-banek Çiprijotti sabu ru˙hom f’xifer il-kollass. Il-kaΩ ta’ Çipru jinteressana b’mod partikolari, g˙ax dan hu pajjiΩ Mediterranju li hu tal-iskala ta’ Malta. Il-magaΩin Der Spiegel il-©img˙a l-o˙ra rrapporta konversazzjoni bejn il-Ministru tal-Finanzi ÌermaniΩ Schauble u Mario Draghi, fost o˙rajn. Saret qabel laqg˙a tal-grupp tal-ewro, dik il-©emg˙a tal-ministri tal-finanzi taΩ-Ωona ewro li kienu responsabbli fl-a˙˙ar snin g˙at-tmexxija finanzjarja kon©unta taΩ-Ωona. Schauble ressaq l-argument li Çipru jista’ façilment jit˙alla jfalli g˙ax, min˙abba d-daqs tieg˙u, falliment b˙al dan ma jirrappreΩenta l-ebda theddida “sistemika” g˙aΩ-Ωamma tal-ewro. Draghi wie©eb li l-falliment ta’ Çipru jkollu riperkussjonijiet fuq banek tal-Greçja li mbag˙ad ikollu impatt aktar wiesa’ fuq is-sistema bankarja taΩ-Ωona ewro. Skont hu, kollox spiçça marbut, g˙oqda ma’ g˙oqda, speçjalment fi Ωmien meta s-swieq finanzjarji bdew irabbu aktar fiduçja fl-ewro. Min-na˙a tag˙hom l-SPD ÌermaniΩa (fl-OppoΩizzjoni) ˙abbru li biex jappo©©jaw g˙ajnuna lil Çipru, dan ried jaççetta li jsa˙˙a˙ il-˙arsien kontra l-˙asil tal-flus, inaqqas mill-politika tieg˙u li jservi b˙ala kenn mit-taxxi g˙all-impriΩi internazzjonali u jaççetta wkoll li jda˙˙al it-taxxa fuq it-transazzjonijiet finanzjarji. Biex il-Kançillier Merkel tkun tista’ tg˙addi l-pakkett ta’ g˙ajnuna mill-Parlament ÌermaniΩ te˙tie© l-appo©© tal-SPD. Imma l-problemi tas-sud ma jiqfux ma’ dawn il-pajjiΩi relattivament çkejkna li semmejna. Ifuru lejn l-Italja u Spanja, it-tnejn bi problemi partikolari g˙alihom (in˙allu lil Malta fil-©enb, g˙alissa).


SPANJA

Matul snin s˙a˙, Spanja kellha tkabbir ekonomiku impressjonanti. Kien imsejjes fuq nefqa tal-gvern qawwija, fuq tkabbir fit-turiΩmu, fuq tkabbir sostanzjali fl-industrija tal-bini u fuq self qawwi minn ˙afna banek li kellhom pedamenti finanzjarji dg˙ajfa. Meta faqqg˙et il-kriΩi finanzjarja tal-�007/�008, dawn l-istrutturi qalg˙u diksata liema b˙alha li g˙adha tirbombja sal-lum. Il-qg˙ad, l-aktar fost iΩ-Ωg˙aΩag˙, jg˙odd mal-og˙la fl-Ewropa u hu mistenni li jkompli jikber. Il-gvern kellu jara kif se jnaqqas l-ispejjeΩ kbar tieg˙u g˙ax ma setax imantni d-defiçits li kienu skattaw. Sal-lum, Spanja g˙adha taqla’ d-daqqiet ikkawΩati minn dawn il-problemi li politikament ©ew aggravati bit-tis˙i˙ ta’ movimenti interni favur l-indipendenza minn Spanja (l-aktar fil-Katalunja) u bis-sejba ta’ korruzzjoni mifruxa fit-tmexxija tal-gvern Spanjol. Din l-a˙˙ar problema skattat fi kriΩi politika enormi fl-a˙˙ar ©img˙a u nofs meta ©ew ippubblikati dokumenti li donnhom juru kif mexxejja g˙olja tal-partit fil-gvern, il-PPE, inkluΩ il-Prim Ministru Rajoy, irçevew donazzjonijiet mo˙bija ta’ flus fuq medda twila ta’ snin.

L-ITALJA

Sadattant, l-Italja wkoll kienet tellg˙et wie˙ed mill-og˙la djun nazzjonali taΩ-Ωona ewro. Kien jintqal li peress li dan id-dejn kien kollu miΩmum mit-Taljani, il-biçça ma kinitx daqstant problematika. Imma la l-munita Taljana saret ukoll l-ewro, malli bdiet tikber l-isfiduçja fil-mod kif l-Italja kienet qed tmexxi l-finanzi tag˙ha, l-img˙axijiet fuq id-djun


li kellha u fuq is-self ©did li riedet tag˙mel bdew ikunu ta’ piΩ tant qawwi li Ωgur li l-Italja kienet se taqta’ nifisha. Il-gvern “teknokratiku” ta’ Mario Monti da˙al (b’manuvrar li ftit jista’ jissejja˙ trasparenti jew demokratiku) biex isolvi din il-kriΩi billi ˙a l-miΩuri “tekniçi” neçessarji – mill-©did sa˙aq fuq l-awsterità. Imma issa, iΩ-Ωmien ta’ Monti g˙adda, u hu wkoll, biex isostni l-miΩuri ta’ awsterita ˙alli “jfejjaq” lill-Italja, je˙tie©lu j©ib il-voti. X’se ji©ri fl-Italja mill-©did jinsab g˙ad-deçiΩjoni tal-elettorat Taljan. Ma tistax tlumu: quddiem il-qg˙ad kbir u l-piΩijiet ta’ taxxi dejjem jiΩdiedu, jinsab konfuΩ. Ta’ min jirrepeti: kull pajjiΩ g˙andu l-problemi tieg˙u: u forsi qed ji©ri li fiΩ-Ωona tal-ewro mhux qed ikun hemm biΩΩejjed skop biex id-deçiΩjonijiet li jittie˙du, jag˙tu kont serju tad-differenzi li jeΩistu. G˙andna wkoll l-eΩempju tal-Irlanda, mitqiesa man-nord taΩ-Ωona ewro, imma li kienet wa˙da minn tal-ewwel li marret il-ba˙ar. Ìralha dan g˙ax, b˙al Malta, l-Irlanda speçjalizzat, fost ˙idmiet o˙ra, fis-servizzi finanzjarji, inkluΩ ta’ banek. Meta skattat il-kriΩi tas-snin �007/�008, l-Irlanda tat garanzija totali lill-banek li po©©ew hemm. Óafna minnhom fallew. Dan kisser is-sinsla tal-finanzi tal-gvern. Il-poplu IrlandiΩ kellu jag˙mel sagrifiççji tremendi (fost o˙rajn, f’Ωieda ta’ taxxi u fi tnaqqis ta’ benefiççji soçjali) biex je˙les minn din il-pjaga. Qed jg˙idu li l-affarijiet tjiebu... Imma sadattant, il-qg˙ad IrlandiΩ g˙adu sostanzjali u bosta familji IrlandiΩi jinsabu f’xifer il-faqar.

FRANZA FIS-SUD?

Fuq kollox, hemm pajjiΩ ie˙or li tista’ tg˙idlu tas-sud, imma nofsu hu fin-nord. Fil-kontinent Ewropew dejjem


rabat flimkien il-punti kollha tal-kumpass ©eografiku: Franza. Ilu jtektek l-inkwiet dwar kif dan il-pajjiΩ ewlieni mhux qed iΩomm il-pass mal-Ìermanja u mal-pajjiΩi tan-nord. Ilu jintqal kif g˙alkemm fil-bidu ˙eles mill-ag˙ar effetti tal-kriΩi �007/�008, dan ©ara g˙ax baqa’ jiddependi wisq fuq in-nefqa u l-inizjattiva tal-gvern, li f’dak iΩ-Ωmien serviet ta’ kontrapiΩ tajjeb g˙all-fatt li s-settur privat kien qed imajna. Imma l-gvern FrançiΩ ma setax jibqa’ j©orr hu wa˙du l-piΩijiet. Meta beda jog˙tor, ma kellux settur privat qawwi warajh biex je˙odlu parti mill-piΩ minn fuq spallejh. Mentri f’pajjiΩi tan-nord, wara l-ewwel daqqa fejn is-settur privat in©ibed lura, re©a’ rkupra xi ftit u kien hemm anqas bΩonn tas-sa˙˙a tal-gvern. Dawn huma kollha argumenti li jitqajmu dwar x’inhu ji©ri fis-sud taΩ-Ωona ewro. Jikkonfermaw kif hemm diversità ta’ problemi, ta’ sitwazzjonijiet u ta’ opportunitajiet fil-pajjiΩi differenti. Ma tistax mill-eΩempju ta’ pajjiΩ wie˙ed jew tnejn to˙loq regola ©enerali g˙al ˙addie˙or. (Hu argument li ili nis˙aq fuqu snin s˙a˙ fid-diskussjonijiet dwar il-post ta’ Malta fl-ispazju Ewropew – bla wisq suççess, ikolli ng˙id – g˙ax il-poplu jemmen dak li jrid jemmen... ) Jibqa’ l-punt: kif qed tid˙ol Malta fit-tifsila tal-ewro? Lokalment, nisimg˙u tant fehmiet kuntrastanti, anki waqt li kul˙add joqg˙od b’seba’ g˙ajnejn biex il-prinçipji taΩ-Ωona ewro ma ji©ux ikkontestati. Il-qag˙da finanzjarja ta’ Malta hi bil-wisq aktar fra©li milli l-gvern Nazzjonalista ilu s-snin jiddikjara. Minkejja l-fta˙ir dwar idejn fis-sod u ma nafx xiex aktar, il-fatt ewlieni jibqa’ dan: kieku ma kienx g˙al Ωew© setturi ta’ ˙idma ekonomika – il-log˙ob tal-im˙atri fuq l-internet u s-servizzi finanzjarji marbuta wkoll mal-informatika – ilna fixxa. Mhux


talli l-gvern ma kkontrollax id-defiçit tieg˙u – il-“˙ofra” kif konna ng˙idulha xi snin ilu – talli ˙allieha tikber u tikber. Ma nistg˙ux nin˙bew wara l-argument li d-dejn tal-gvern Malti hu prinçipalment mal-Maltin – kif kien jag˙mel il-gvern Taljan sa ftit taΩ-Ωmien ilu. Il-fatt hu li l-munita li biha l-gvern Malti jissellef hi l-ewro. Di©à – g˙alkemm dan qatt ma jintqal – il-gvern Malti qed jissellef lokalment b’rata ta’ mg˙ax og˙la milli suppost seta’ jsib fis-swieq internazzjonali. Ir-rati ta’ mg˙ax g˙as-self tal-gvern, kemm fis-suq Malti u kemm barra, imkejla fl-ewro, g˙ad jistg˙u jog˙lew bil-qawwa. Qed ikun hemm wisq kompjaçenzi dwar l-ewro, kemm barra minn pajjiΩna, kemm fostna. Kif Ωviluppaw l-affarijiet, jalla t-titjib li qed jintqal li ssoda fil-qag˙da tal-ewro jibqa’ jirranka. Xieraq ukoll li f’pajjiΩna, daqskemm fil-bqija taΩ-Ωona sud tal-ewro, tinΩamm vi©ilanza qawwija fuq x’jinsab g˙addej.

(It-Torça, 10 ta’ Frar 2013)

The FTT challenge 363

28

THE FTT CHALLENGE

During a long election campaign in Malta, crucial developments within the euro zone and the EU were bound to escape much attention. A case in point is the progress being achieved by eleven EU states to introduce a financial transactions tax (FTT). It will be levied on trades of financial instruments by Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain. Between them, they account for the bulk of the euro zone’s Gross Domestic Product. The tax has been in the pipeline for some years. Proponents argue that the financial sector must pay taxes on the business it generates, like other economic activities do. Those against claim that the financial transactions tax will inhibit the free flow of funds to projects which need flexibility and ease in mobilising finance. Malta has consistently been among the nay sayers. Financial services and internet gaming have powered what went for economic growth in recent years. It was therefore in the national interest to contest anything by way of increased taxation or regulation that could inhibit the consolidation

363


and expansion of financial services. Consensus on this point goes beyond the two major political parties to also cover the social partners.

AGAINST

Yet in this we are contradicting the majority opinion among top European decision-makers considered by many Maltese political leaders as their mentors. On a broader level, the Maltese government and others have argued that introducing a financial transactions tax within the EU alone, while other parts of the world do not, means injecting European financial services with a competitive disadvantage, which makes little sense. However the FTT bandwagon in Europe has been rolling for quite a while. Its proponents are the major players in the euro zone and they come from the right and the left. A consensus in favour has emerged on the issue in Germany and France, with Spain and Italy in tow, even if opinions vary regarding some aspects of the tax. Throughout, the UK whose financial sector is the most important in Europe, spearheaded the opposition to the FTT. As a result, the tax is being introduced through a procedure of so-called enhanced cooperation between those states wishing to introduce the FTT. It will apply under EU aegis but only to a restricted group of members. The European Council authorised progress on these lines on the �� January �013. Inevitably the FTT is being seen as a tool for further integration of the euro zone. However, besides Malta, four other euro zone countries with significant financial services inputs to their economy have not entered the FTT corral.


There’s Luxembourg, always at the forefront of European integration. Until recently, its Prime Minister was chairman of the powerful eurogroup committee, which lies at the heart of the euro zone’s policy making. Luxembourg’s financial sector is frequently criticised as a tax laundering machine by German legislators. The last such outbreak happened less than two years ago and was quite nasty. There’s Holland, whose financial services sector while strong, keeps a relatively low profile. It operates in tandem with London and relies on a longstanding talent pool of financiers and bankers who enjoy centuries old connections with all points of the compass. Then there’s Ireland, still groggy from the effects of its financial meltdown three years ago. It is in the grip of a euro zone bailout programme to bring it back on its feet through massive doses of austerity. The programme is being touted as successful: recent efforts by Ireland to test the financial markets when funding its ongoing debt, were said to have met an encouraging response. One would have expected that Ireland could be pressured to swallow the FTT proposal. Still, it has kept to the side: the terms of the euro zone “rescue” were negotiated and finalised long before FTT matters came to the boil. The same cannot be said about Cyprus, another euro zone country declining to introduce the FTT. There have been prolonged negotiations within the eurogroup about a package of assistance for Cyprus, which remains in deep crisis. Its banks have been crippled by the writedown decreed by the euro zone in financial holdings with Greek institutions, where they had massive exposures. The explosion of Cyprus’ major power station in the summer of �011, coupled to a strong deficit position in the government


budget, have marked the country for national bankruptcy. Negotiations for a euro zone bailout got clogged by questions about privatisation and about the transparency of Cyprus’ financial sector. Any deal, which needs among other hurdles to pass through the German Bundestag, has been made conditional by the SPD on Cyprus introducing the FTT.

DRAFT DIRECTIVE

So, it is quite clear that the pressure for the FTT to widen its territorial scope is there and will persist. To implement the Council decision of January, the European Commission was requested to present a draft directive for implementation by FTT participants. This turned out to be an easier task than envisaged. Two years previously, the Commission had drafted a similar draft directive, which it intended to apply to all EU member states. That draft was shot down. But it provided most of the material necessary for the new text which was published on 14 February �013. Amendments to the first text were made necessary by the fact that it had been designed for EU wide implementation. Now that the FTT will have a more restricted territorial basis, the new text includes changes, in part also meant to take into account some of the objections raised against the FTT by those who disliked the idea. In its explanations regarding the new text, the Commission makes the point – which on other occasions would have been considered “populist” in Brussels – that the financial secor has been at the heart of the crisis of past years. While it was afforded extensive support from public sources, it has always up to now been the most lightly taxed.


The Commission’s proposals set as wide a frame as possible for the application of the FTT. Its scope should cover transactions related to all types of financial instruments. It should extend to all types of trades. And it should apply to financial institutions broadly defined. The draft directive of 14 February responds to the criticism that adoption of the FTT within a restricted group of countries would make the financial sectors of those countries uncompetitive with regard to the sectors of non-participants, where the FTT is not charged. It makes far reaching proposals, among which this: transactions made outside the FTT area by institutions resident in the participant countries, or by their affiliates, would still be subject to the tax. Reporting and compliance procedures defining how this could be achieved are specified in the draft directive. The likelihood is that the FTT will be implemented speedily, even if some proposals will likely be amended. There already have been objections coming from the UK (on the grounds that the principles of the European single market are being undermined) and from the US (among others because the tax jurisdiction of the EU is being arbirtrarily extended, though the US itself has never been shy of extending its own jurisdiction).

IMPACT ON MALTA

That the proposals being made for the FTT will have an impact on the Maltese financial services sector is obvious. One presumes that the government (or the new one following the coming elections) as well as private operators will be carrying out a full technical assessment... if it is not already


available (in which case, it should be published). We need to have a viable position before the final shots are called. However, the required assessment will have to go beyond purely technical considerations to cover relevant strategic aspects. Clearly, the consensus across the political spectrum of the four major economies in the euro zone is motivated by more than the wish to load financial services with their fair share of tax dues. On the one hand, there is again the feeling – sharpened by the past years of austerity and shared with leading OECD members outside the EU – that concerted efforts need to apply worldwide against tax avoidance and evasion. On the other hand, there is the emerging belief that till growth really picks up, and if austerity is going to be softened, new sources of government funding must be discovered. The only feasible option is to tax financial services which have been carrying an easy tax load for too long. The calculation is that the introduction of an FTT, while helping to trim excessive speculation, would in no way inhibit the ability of the sector to function. And it would provide much needed new funds for public expenditure on investment and job enhancing programmes. In its explanatory memorandum to the draft directive, the Commission has indicated it expects an initial 31 billion to be netted annually through the FTT. There are other implications. The FTT collected could either be kept by the participating states; or they could transfer it to central coffers in Brussels. If the latter, participating states would then get the amount they transfer deducted from the contribution they have to make from their own resources to the EU’s budget. Alternatively, FTT funds could form the core of an


independently functioning Treasury for the euro zone, giving the latter the firepower to cope with the crises that have dogged it since �008. Either way, tensions on national budgets would ease. Some quarters are clearly calculating that FTT resources could serve as a opening towards putting into place a new fund which would fall directly under EU control without reference to the member states (called in the jargon “own resources”). This in their view would give greater flexibility to the Union in managing policies and initiatives, while laying a secure basis for its development into a fully fledged federal structure. Yes, at the Malta end, we need to evaluate the technical implications for our financial services sector of what is being rushed through at the Brussels end. We need to do so through a proper understanding of where our competitive strengths lie. Though the financial services sector is extremely important for us, at European and wider levels, it is not so salient (the same cannot be said for remote gaming). Such limited noticeability, plus the fact that apparently our operating charges have in the past been considered to be very very low, constitute major advantages. Beyond the technical arguments however, one cannot underestimate the changes that are being prepared. The design for enhanced cooperation covering the introduction of the FTT has a strategic dimension which must be taken into account. The project is gaining a momentum that could prove to be irresistible. Its pros and cons need to be fully described and evaluated from a Maltese perspective.

(The Malta Independent on Sunday, 24 February 2013)


29

ÇIPRU U Û-ÛONA EWRO

Ftit stennew li l-kriΩi ta’ Çipru kienet se tie˙u l-iΩvolta li ˙adet. B˙ala t-tielet l-içken ekonomija fiΩ-Ωona ewro (b’Malta l-içken) il-bΩonnijiet tag˙ha g˙al g˙ajnuna finanzjarja miΩ-Ωona ewro kienu mitqiesa b˙ala Ωg˙ar ˙afna mqabbla mal-bΩonnijiet Spanjoli jew dawk li jistg˙u jkunu l-˙ti©iet Taljani. Biex jilqg˙u g˙all-problemi ma˙luqa mid-defiçit finanzjarju tal-gvern u mit-tweg˙ir tal-banek Çiprijotti, self ta’ 17-il biljun ewro kien ikun “biΩΩejjed”. Imma dan l-ammont iqarreb lejn tliet kwarti tad-daqs tal-ekonomija Çiprijotta. Fil-fatt kien hemm Ωmien fejn il-Ministru tal-Finanzi ÌermaniΩ Schauble kien qed jargumenta li jekk Çipru jfalli, il-bqija taΩ-Ωona ewro ma kienet issofri xejn. Ma’ din il-fehma la kien hemm qbil min-na˙a tal-grupp tal-ewro, il-kumitat ta’ ministri tal-finanzi li jmexxi Ω-Ωona ewro, u lanqas mill-Bank Çentrali Ewropew. Il-banek Çiprijotti, intqal, kienu marbuta mill-qrib mal-banek Griegi, u min˙abba din ir-rabta l-effetti ta’ falliment ta’ Çipru kienu jkunu “sistemiçi”, ji©ifieri jispiççaw jaffettwaw iΩ-Ωona kollha. Biss in-negozjati dwar bailout (salvata©©) g˙al Çipru

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Çipru u Ω-Ωona ewro 371

– ji©ifieri programm ta’ g˙ajnuna finanzjarja permezz ta’ self miΩ-Ωona ewro u mill-Fond Monetarju Internazzjonali – baqg˙u jitwalu.

KUNDIZZJONIJIET GÓALL-GÓAJNUNA

F’kull programm ta’ g˙ajnuna finanzjarja li ˙are© miΩ-Ωona ewro, se ssib kundizzjonijiet imposti fuq il-pajjiΩ li qed jirçievi s-self. Dan ikollu jimpenja ru˙u li se jnaqqas in-nefqa u jΩid id-d˙ul tal-gvern; li se jsa˙˙a˙ il-qag˙da tal-banek, eççetera – insomma kundizzjonijiet imposti skont il-kaΩ li jkun. PereΩempju, wa˙da mill-kundizzjonijiet li bdew isiru lil Çipru kienet li jipprivatizza azjendi tal-istat biex bid-d˙ul mill-bejg˙ inaqqas il-˙ofra fil-finanzi tal-gvern. Il-President ta’ Çipru (li g˙andu poteri eΩekuttivi), fil-bidu


tan-negozjati, kien il-Komunist Christofias. Ma qabilx ma’ din il-kundizzjoni. Il-President inbidel f’elezzjoni li nΩammet fl-�4 ta’ Frar ta’ dis-sena. Ìie elett il-lemini Anastasiades li ma g˙andux riΩervi ideolo©içi dwar il-privatizzazzjoni. Imma xorta kellu jaffaççja kundizzjonijiet iebsa li l-Ewropej u l-Fond Monetarju baqg˙u jinsistu fuqhom. L-argument tekniku prinçipali beda jsir hekk: veru li l-ammonti li Çipru se ji©i msellef huma “Ωg˙ar” b’mod assolut, imqabbla ma’ dawk ta’ self ma˙ru© di©à lil pajjiΩi o˙ra taΩ-Ωona ewro. Imma b’kollox, id-dejn nazzjonali tal-gΩira kien se jispiçça ji©i og˙la sew mid-daqs tal-ekonomija tag˙ha (imkejla skont il-Prodott Gross Domestiku). U ma kienx jidher li g˙al li ©ej, Çipru kien se jkun jista’ j©orr dan id-dejn. IΩ-Ωona tal-ewro bdiet tinsisti biex Çipru jie˙u sehem akbar fil-pjan ta’ salvagwardja billi jikkontribwixxi fondi tieg˙u, u kif isibhom affarih! Il-mexxejja taΩ-Ωona ddeçidew li lil Çipru lesti jsellfuh biss 10 biljun; u Çipru kellu jsib kif se jo˙ro© 5.8 biljun. G˙alkemm ˙afna mill-argumenti saru b’lingwa©© tekniku, na˙seb li r-realtà warajhom baqg˙et politika. Lill-Ewropej ftit jog˙©obhom il-mod kif matul is-snin Çipru Ωviluppa s-servizzi finanzjarji tieg˙u u kif Ωamm qrib tar-Russja.

L-EKONOMIJA ÇIPRIJOTTA

Ming˙ajr ma wie˙ed iqis dan il-“fatt”, ftit jista’ jifhem g˙aliex l-affarijiet Ωgarraw kif Ωgarraw. U allura hu me˙tie© li wie˙ed i˙ares ukoll lejn kif Ωviluppat l-ekonomija Çiprijotta matul l-a˙˙ar snin. Wara kollox, sa xi erba’ snin ilu, ir-rapporti tal-Fond Monetarju Internazzjonali dwar Çipru kienu


jag˙tu xhieda ta’ ottimiΩmu li l-pajjiΩ kien jista’ jeg˙leb l-isfidi quddiemu. Il-verità hi li kemm ilu li da˙al membru tal-Unjoni Ewropea u wara taΩ-Ωona ewro, id-defiçit kummerçjali ta’ Çipru beda jiΩdied sew. L-esportazzjoni ta’ prodotti tal-biedja u tal-manifattura waqg˙et lura waqt li l-importazzjoni rrankat. G˙amlu tajjeb g˙al dan, tliet setturi ewlenin. B˙al Malta, Çipru Ωviluppa bil-kbir is-servizzi finanzjarji tieg˙u. Illum b˙alna, g˙andu banek li l-assi tag˙hom ila˙˙qu tmien darbiet u aktar id-daqs tal-ekonomija tieg˙u. It-turiΩmu, g˙alkemm naqqas minn sa˙˙tu, baqa’ jrendi. U kien hemm g˙al xi snin, b˙al f’Malta wkoll imma ˙afna aktar minn hawn, tkabbir sostanzjali fis-settur tal-bini, fejn irrankaw l-investimenti, il-prezzijiet u x-xiri mill-barranin, fosthom numru kbir ta’ çittadini Russi. Malli nfirxet il-kriΩi finanzjarja tas-snin �008-�009, l-espansjoni tas-settur tal-bini waqfet g˙alkollox. Il-prezzijiet waqg˙u imma l-investimenti u l-bejg˙ u x-xiri ta’ artijiet u appartamenti nixfu. Sadattant, il-gvern kien kabbar l-ispiΩa tieg˙u. Forsi g˙amel dan fl-ag˙ar Ωmien. Imma ˙tie©lu jpatti b’xi mod g˙at-tnaqqis fir-rankatura tal-ekonomija ˙alli jsostni l-impjiegi. B’konsegwenza ta’ dan, id-defiçit tal-gvern tqawwa sew. Fejn id-dejn nazzjonali kien moderat sal-�008, dan beda tiela’ b’rata qawwija fl-a˙˙ar snin. Imbag˙ad il-kriΩi tal-Greçja kag˙bret sew u˙ud mill-banek ta’ Çipru, g˙ax kellhom sehem kbir tal-assi tag˙hom marbuta ma’ banek Griegi. Meta, b’deçiΩjoni taΩ-Ωona ewro, dawk li kienu sellfu flushom lill-Greçja ©ew im©ieg˙la jaççettaw tnaqqis kbir fil-fondi li kienu ˙ar©u, il-banek Çiprijotti qalg˙u daqqa kbira. G˙adhom ma stejqrux minnha.


Biex tg˙axxaqha, fis-sajf tal-�011, splodiet power station li kienet tforni nofs il-bΩonnijiet f’elettriku ta’ Çipru. Intlaqtu ˙aΩin l-industrija u t-turiΩmu.

RIÛERVI POLITIÇI

Ir-riΩervi politiçi dwar Çipru li ssenslu fost l-Ewropej kellhom x’jaqsmu l-aktar mal-mod kif is-settur finanzjarju Ωviluppa fil-gΩira. Beda jintqal li s-settur kien qieg˙ed jipprovdi kenn g˙al investituri Russi, fosthom tal-mafja. Dawn kienu qed juΩaw il-gΩira biex “ila˙al˙u” d-d˙ul kriminali tag˙hom. Ukoll, bit-taxxi baxxi li Çipru jiççar©ja fuq fondi li jitpo©©ew hemm, kien qed ja©evola lil sinjuruni li riedu jiskappaw mit-taxxi og˙la li jkollhom i˙allsu f’pajjiΩhom. Biex jilqg˙u g˙al dawn l-akkuΩi, iç-Çiprijotti talbu li jsir eΩami tat-tmexxija tag˙hom tas-servizzi finanzjarji minn kumitat tal-Kunsill tal-Ewropa li jinvestiga l-˙asil ta’ flus. Dal-kumitat g˙amel l-ist˙arri© tieg˙u u qal li Çipru kellu biΩΩejjed protezzjoni kontra l-abbuΩi finanzjarji li setg˙u jsiru minn investituri. Il-mexxejja taΩ-Ωona ewro ma kinux sodisfatti b’dan iç-çertifikat. Riedu li l-eΩami jer©a’ jsir, din id-darba minn kumpanija privata tal-konsulenza. Fl-a˙˙ar intla˙aq ftehim li l-eΩami jer©a’ jsir mill-kumpanija privata li l-mexxejja taΩ-Ωona ewro riedu jda˙˙lu fil-bejg˙a u mill-kumitat tal-Kunsill tal-Ewropa, flimkien. Sadattant, kienet ir-Russja li offriet l-aktar g˙ajnuna konkreta lil Çipru. Bejn iΩ-Ωew© pajjiΩi, apparti mill-fatt li miljunarji Russi u o˙rajn sabu kenn fil-gΩira, g˙ad baqa’ rabtiet tajba ©ejja miΩ-Ωmien meta l-Unjoni Sovjetika kienet tg˙in lil forzi politiçi Çiprijotti, l-aktar il-Komunisti, li kienu stinkaw g˙all-˙elsien ta’ pajjiΩhom. Ir-Russja, mill-bidu


nett, wara l-ispluΩjoni tal-power station, tat self kbir lil Çipru u fl-a˙˙ar xhur uriet li kienet lesta trattab il-kundizzjonijiet tas-self, min˙abba li t-tweg˙ir g˙all-gΩira baqa’ jikkarga. Ir-Russja ming˙aliha li kellha ftehim informali mal-mexxejja taΩ-Ωona ewro biex jikkoordinaw flimkien l-isforzi ˙alli jag˙tu palata lil Çipru. Imma dal-ftehim baqa’ fuq il-karta. L-aqwa reΩistenza g˙al g˙ajnuna “˙afifa” g˙al Çipru baqg˙et ©ejja mill-Ìermanja, u mhux biss mill-partit ta’ Merkel. Il-parlamentari ÌermaniΩi qed jinsistu li kull self ©did mog˙ti miΩ-Ωona ewro lill-pajjiΩi membri jrid ikun approvat mill-Bundestag. Hemmhekk, il-mod kif Çipru j˙addem is-settur tas-servizzi finanzjarji mhu apprezzat xejn. Kemm min˙abba suspetti dwar il-˙asil tal-flus li jista’ qed isir f’Çipru. Kemm min˙abba r-rati baxxi ta’ taxxa li Çipru jiççar©ja fuq negozji finanzjarji, li g˙alhekk qed jemigraw mill-Ìermanja. U kemm min˙abba r-rifjut ta’ Çipru (b˙al Malta) li jda˙˙al taxxa fuq it-transazzjonijiet finanzjarji, g˙ax tfixkel l-iΩvilupp tas-servizzi finanzjarji.

ID-DEPOÛITI FIL-BANEK

Min-na˙a ÌermaniΩa qed jintqal: Kif jista’ jkun li deputat ÌermaniΩ jivvota favur self lil Çipru, li se j˙allsu g˙alih iç-çittadini ÌermaniΩi mit-taxxi tag˙hom, u b’hekk isalva banek fejn jistrie˙u l-aqwa biljunarji u kriminali Russi waqt li qed jevitaw kull taxxa? U minn hawn qamet l-idea li depoΩitanti fil-banek ta’ Çipru messhom i©orru parti mill-piΩ tal-programm li bih Çipru ji©i salvat. Is-sabi˙a kienet li sa issa, f’bailout taΩ-Ωona ewro, kien idda˙˙al il-prinçipju li meta ji©u mqassma s-sagrifiççji, u meta l-banek jintalbu j©orru parti mill-piΩijiet, dan se jag˙mluh mhux id-depoΩitanti li po©©ew flushom


fil-banek, imma l-investituri li sellfu jew xtraw ishma fil-banek. Id-depoΩitanti kellu jkollhom il-fondi tag˙hom garantiti, tal-anqas sa somom li jla˙˙qu l-100,000 ewro. Çipru kellu jaççetta li dan il-prinçipju jitne˙˙a. Imma mbag˙ad, inqabad f’dilemma terribbli. Jew se jifrex taxxa fuq id-depoΩitanti kollha, jew iwettaqha biss fuq dawk li g˙andhom l-akbar depoΩiti fis-sistema finanzjarja. Jekk jag˙mel tal-ewwel, se jolqot anki lid-depoΩitanti Ωg˙ar, fil-ma©©oranza Çiprijotti u dawn, bir-ra©un, se jirvellaw; jekk jag˙mel tat-tieni, id-depoΩitanti sinjuri minn barra li ©ew f’Çipru g˙ax g˙andu taxxi baxxi, se jbew©u ’l barra. U mbag˙ad addijo g˙as-settur tas-servizzi finanzjarji li hu l-uniku wie˙ed sa issa li Ωamm çerta attività ekonomika g˙addejja. Nafu x’©ara wara l-a˙˙ar laqg˙a plenarja tal-grupp tal-ewro ©img˙a ilu fejn ittie˙det id-deçiΩjoni li d-depoΩiti kollha ji©u ntaxxati, inkluΩ id-depoΩiti Ω-Ωg˙ar. Iç-Çiprijotti ˙ar©u fit-toroq. Il-gvern spiçça paralizzat. Il-Parlament Çiprijott ivvota b’mod assolut kontra l-pakkett ta’ “g˙ajnuna” g˙al Çipru li ˙are© mill-grupp tal-ewro. Fost il-mexxejja taΩ-Ωona ewro, bdiet log˙ba biex kul˙add jiskolpa ru˙u. Kien il-gvern Çiprijott li ddeçieda li jintaxxa lid-depoΩitanti kollha, qalu l-ÌermaniΩi. Fil-fatt, il-pakkett li d-deputati Çiprijotti vvutaw kontrih kien wie˙ed fejn il-piΩ fuq id-depoΩitanti Ω-Ωg˙ar kien t˙affef g˙alkollox. Xorta l-pakkett ma g˙addiex. Sa tmiem il-©img˙a, iΩ-Ωona ewro kienet qed twissi lil Çipru li jekk ma jsibx il-fondi me˙tie©a biex ila˙˙aq mal-5.8 biljun ewro li hu mistenni jo˙ro©, jaqa’ kollox. Il-Bank Çentrali Ewropew jaqta’ kull g˙ajnuna lill-Bank Çentrali Çiprijott u b’hekk il-banek kwaΩi kollha ta’ Çipru – li nΩammu mag˙luqa – jispiççaw daharhom mal-˙ajt.


Il-politiçi Çiprijotti qed jippruvaw jibnu fond nazzjonali ©did biex bih jilqg˙u g˙al parti mis-somma li jridu jsibu. Il-Parlament beda jitlaqqa’ b’ur©enza biex japprova proposti li jmorru f’dan is-sens. Il-Knisja Ortodossa ta’ Çipru offriet li tpo©©i fuq il-mejda l-beni sostanzjali li g˙andha. Delegazzjoni marret ir-Russja biex tara hemmx xi mod kif tinstab aktar g˙ajnuna minn hemm; ©iet lura b’idha f’idha. U l-istorja g˙adha qed tiΩviluppa…

***

Ma ne˙odhiex bi kbira jekk ̇ afna jaraw xebh bejn Çipru u Malta. Hemm l-istess struttura ekonomika, ibbaΩata llum fuq is-servizzi finanzjarji b˙ala s-settur li qed jikber fl-ekonomija. Fil-kaΩ ta’ Malta, g˙andna wkoll is-settur tal-im˙atri bl-internet, u sa fejn jidher, m’g˙andniex daqstant investimenti Russi fix-xena. B˙al Çipru, g˙andna settur tal-biedja li nixef, settur tal-manifattura li çkien, settur pubbliku li baqa’ jikber bla ma tejjeb wisq fl-effiçjenza u dejn nazzjonali li Ωdied sew fl-a˙˙ar snin. Ûgur ma ninsabux fil-qag˙da kiefra ta’ Çipru b˙alissa. Imma t-t˙assib iqum g˙alina b˙alma jqum g˙al pajjiΩi Ωg˙ar o˙ra fiΩ-Ωona ewro, quddiem il-mistoqsija: Çipru qed jing˙ata t-trattament li ng˙ata – differenti minn tal-Irlanda jew anki tal-Portugall – sempliçement g˙ax hu daqshekk çkejken?



30

KIF ÇIPRU BAQA’ FUQ L-AÌENDA TAL-EWRO

Meta tqis id-daqs tal-pajjiΩ, ikollok tg˙id li l-kriΩi ta’ Çipru fi ˙dan iΩ-Ωona ewro spiççat se tkun l-itwal u l-aktar komplikata sa issa – forsi anki aktar minn dik tal-Greçja, li fl-a˙˙ar erba’ snin g˙addiet minn ta˙wid mhux Ωg˙ir. Fil-fatt, il-kriΩi ta’ Çipru g˙adha g˙addejja peress li jeΩistu dubji serji dwar kemm il-ministri tal-finanzi taΩ-Ωona ewro, flimkien mal-Bank Çentrali Ewropew, il-Fond Monetarju Internazzjonali u l-istess gvern Çiprijott, irnexxielhom bl-a˙˙ar deçiΩjonijiet li ˙adu, isolvu l-problemi kbar li nqalg˙u. Kul˙add kien jaf li s-soluzzjoni li qablu fuqha l-ministri se tkun qieg˙da timponi piΩijiet kbar fuq il-poplu u l-ekonomija ta’ Çipru. Qamet kontroversja s˙i˙a dwar jekk g˙andhomx id-depoΩitanti fil-banek ji©u m©ieg˙la jitilfu parti mill-fondi li po©©ew fil-banek Çiprijotti billi jikkontribwixxu g˙all-pakkett finanzjarju – parti minnu ma˙ru© miΩ-Ωona ewro – ta’ g˙ajnuna lil Çipru. Fl-a˙˙ar id-deçiΩjoni kienet li ji©u ntaxxati bil-goff depoΩiti fil-banek li jaqbΩu ç-çifra

378

Kif Çipru baqa’ fuq l-a©enda tal-ewro 379

ta’ 100,000. B’hekk suppost ©iet evitata l-kritika tal-bidu dwar il-pakkett finanzjarju li fuqu ori©inarjament kien sar qbil: il-ftehim ori©inarju kien imur kontra deçiΩjoni tal-Unjoni Ewropea li biha fondi depoΩitati f’banek Ewropej kienu garantiti sa limitu ta’ 100,000 minn kull telf. B˙alma ©ara fi ftehimiet o˙ra, in-negozjati g˙al ftehim ta’ salvata©© (bailout) ma’ Çipru tmexxew minn dik li tissejja˙ it-trojka: uffiçjali tal-Kummissjoni Ewropea, tal-Bank Çentrali Ewropew u tal-Fond Monetarju Internazzjonali li ja˙dmu flimkien. G˙all-ewwel darba, permezz tat-trojka, il-mexxejja taΩ-Ωona ewro esi©ew li d-depoΩitanti jag˙tu kontribut g˙all-˙arsien tal-banek fejn kellhom flushom. Mhux sew li l-kontribut jo˙ro© biss, qalu, mit-taxxi taç-çittadini fil-pajjiΩi membri taΩ-Ωona ewro. Imma ma qalux kif il-kontribut tad-depoΩitanti g˙andu jitqassam.

JIPPROVA JSALVA S-SETTUR FINANZJARJU

Jidher li kien il-gvern Çiprijott innifsu li pprova jqassam fuq id-depoΩitanti kollha, il-piΩ tal-kontribut li d-depoΩitanti fil-banek Çiprijotti kienu m©ieg˙la jo˙or©u. Bil-proposta li d-depoΩitanti kollha j˙allsu “xi ̇ a©a”, il-gvern ipprova jsalva l-qasam tas-settur finanzjarju Çiprijott li fl-a˙˙ar sentejn kien l-uniku wie˙ed li Ωamm ir-rankatura ekonomika g˙addejja. Biss, il-proposta qajmet mew©a enormi ta’ protesti fost iç-çittadini ta’ Çipru. Il-gvern kellu jirtiraha. Illum, in-nies f’Çipru xorta mhumiex sodisfatti, anki jekk id-depoΩitanti Ω-Ωg˙ar ma tilfu xejn mit-tfaddil tag˙hom, tal-anqas g˙alissa. Imma d-deçiΩjoni li ttie˙det u mbag˙ad inbidlet, biex ji©u ntaxxati d-depoΩiti kollha, tqieset minn kul˙add b˙ala ksur ta’ weg˙da li Ω-Ωona tal-ewro kienet g˙amlet lid-depoΩitanti Ω-“Ωg˙ar”. Il-mod kif jittie˙du d-


deçiΩjonijiet g˙all-˙arsien tal-ewro re©g˙u dehru konfuΩi u inkonsistenti. Qam il-punt: g˙aliex kellu jkun Çipru li jg˙addi mill-ewwel esperjenza ta’ bailout fejn ried jo˙ro© hu nnifsu parti mill-fondi li mitqiesa b˙ala neçessarji biex ting˙eleb il-kriΩi finanzjarja li ffaççja? Fil-kaΩi tal-pajjiΩi l-o˙ra li kellhom bΩonn l-g˙ajnuna, ma ©arax hekk. It-twe©iba kienet li Ω-Ωona tal-ewro u l-Fond Monetarju Internazzjonali ma ridux jo˙or©u g˙al Çipru aktar minn çertu ammont. Skont huma, Çipru ma kienx se jirnexxilu j˙allas lura somma akbar minn hekk; u allura, il-bqija kellhom jinstabu mill-pajjiΩ innifsu. Intqal li dan il-metodu se jintuΩa g˙al bailouts o˙ra li jistg˙u jkollhom isiru fil-futur. Mill-Ìermanja ntqal ukoll li ming˙ajr is-sehem dirett ta’ Çipru fis-sejbien tal-fondi me˙tie©a, il-Parlament ÌermaniΩ kien se jivvota kontra l-ftehim ta’ g˙ajnuna lill-gΩira.

L-ITALJA, SPANJA… IL-PORTUGALL, L-IRLANDA

Min˙abba l-argumenti li qamu, baqg˙u jissenslu inçertezzi ©odda. Spanja u l-Italja, b’ekonomiji ˙afna akbar minn ta’ Çipru, g˙ad jistg˙u jkollhom jitolbu g˙ajnuna finanzjarja miΩ-Ωona ewro. G˙adhom ittorturati bi problemi politiçi kbar. Jekk l-istess kriterji ma˙duma g˙al Çipru japplikaw g˙alihom, kif se ji©u affettwati? Sadattant, il-pajjiΩi li di©à ng˙ataw l-g˙ajnuna miΩ-Ωona ewro kienu g˙adhom ma skansawx mid-diffikultajiet: bil-maqlub. Kemm il-Portugall u kemm l-Irlanda talbu biex il-kundizzjonijiet tas-self li tathom iΩ-Ωona jit˙affu. Riedu li jitwal iΩ-Ωmien li fih kellhom i˙allsuhom lura. Minkejja li segwew il-kundizzjonijiet kollha tas-self li


sarulhom, xorta ma kinux se jla˙˙qu mal-pagamenti lura tal-kapital misluf, jekk fl-istess ̇ in se jkomplu jissellfu fondi ©odda mis-swieq finanzjarji – kif kien ippjanat li jsir meta tfassal il-bailout g˙alihom. G˙ax kien ©ara li l-ekonomiji tag˙hom, bil-politika ta’ awsterità li kompliet tit˙addem, baqg˙u jmajnaw. Id-d˙ul tal-gvernijiet mit-taxxi baqa’ sta©nat. Dan affettwa sew il-˙ila tag˙hom biex i˙allsu lura l-kapital imsellef lilhom. G˙alhekk, lill-Portugall “ordnawlu” biex ida˙˙al aktar miΩuri ta’ tnaqqis fl-ispiΩa tal-gvern. Il-President tal-pajjiΩ appella quddiem il-Qorti Kostituzzjonali kontra miΩuri li kien se jie˙u l-gvern fir-rigward ta’ pensjonanti u ˙addiema tal-gvern. Il-Qorti Kostituzzjonali qablet mal-President li dawn il-miΩuri kienu jiksru l-kostituzzjoni. U l-gvern PortugiΩ wieg˙ed liΩ-Ωona ewro li waqt li se jkollu jne˙˙i dawn il-miΩuri, kien se jibdilhom b’o˙rajn li j˙allu l-istess effett, waqt li jkunu konformi mal-kostituzzjoni tal-pajjiΩ. Tal-anqas, l-Irlanda u l-Portugall ing˙ataw it-t˙affif li talbu fil-mod kif se j˙allsu lura s-self li ˙adu. Fl-isfond tal-kontroversja g˙addejja dwar Çipru, l-a˙˙ar ˙a©a li riedu l-mexxejja taΩ-Ωona ewro kienet li jew wie˙ed jew l-ie˙or jersaq jitlob aktar g˙ajnuna, kif kellha tag˙mel il-Greçja.

ÇIPRU SE JKOMPLI JAQLA’

Imma t-t˙assib kompla jag˙qad hekk kif beda jintqal li, wara kollox, il-bailout ippjanat g˙al Çipru ma kienx se jkun biΩΩejjed. Instab li b’differenza milli kien in˙aseb g˙all-bidu, se jkun hemm bΩonn ta’ xi 7 biljun ewro aktar biex il-finanzi tal-gΩira jfiqu. Ma jeΩistux spjegi çari dwar kif seta’ se˙˙ dan l-“iΩball”. Malajr ministri tal-finanzi taΩ-Ωona ewro – fuq quddiem nett tal-Ìermanja – iddikjaraw


li mhux se jin˙ar©u aktar fondi Ewropej g˙all-˙arsien ta’ Çipru, peress li l-pajjiΩ Ωgur ma kien se jkollu l-ebda kapaçità aktar ’il quddiem biex i˙allashom lura. Sal-lum, dil-kwistjoni g˙adha fl-ajru. Kul˙add fehem li, bil-miΩuri imposti fuqu, Çipru se jaqla’ daqqa kbira. L-ekonomija tieg˙u mistennija tiçkien bil-qawwi dis-sena u s-sena d-die˙la. Il-qg˙ad mistenni jfur. Ag˙ar minn hekk, il-kundizzjonijiet li ta˙thom sar l-eΩerçizzju biex “isalva” lil Çipru qed jiΩgura li dan se jkollu problemi enormi biex ikampa g˙al li ©ej. Il-kundizzjonijiet li tpo©©ew fuq il-pajjiΩ jattakkaw bil-kbir pilastru ewlieni tal-ekonomija Çiprijotta. B˙al dik Maltija, hi ekonomija li tiddependi sew fuq is-servizzi finanzjarji, bl-assi bankarji tag˙ha jammontaw g˙al aktar minn tmien darbiet id-daqs tal-ekonomija. It-taxxa qawwija fuq id-depoΩiti fil-banek ta’ aktar minn 100,000 li se titwettaq mistennija tkisser kull fiduçja fis-settur

finanzjarju Çiprijott g˙all-futur. U se tiΩmantellah fil-preΩent. Issa, fl-istess ̇ in li nfet˙u dawn il-prospetti koroh g˙al Çipru, qam diskors fil-pajjiΩi tal-ewro dwar kif mhix vijabbli l-binja ekonomika ta’ Çipru, u ta’ pajjiΩi li segwew l-istess triq b˙alu. Settur finanzjarju li jie˙u dominanza b˙al dik f’Çipru bilfors jispiçça f’qag˙da diΩastruΩa. Hekk beda jintqal.

KONTRA KULL ÌENNA FISKALI

Bir-ra©un iç-Çiprijotti rrispondew g˙al dan l-argument billi qalu li f’suq wie˙ed kontinentali, Ωoni differenti se jiΩviluppaw niçeç ta’ ˙idma differenti. Ix-xog˙ol finanzjarju li huma da˙lu fih jirrifletti l-vanta©©i li gΩira çkejkna fil-periferija tal-kontinent Ewropew tista’ tgawdi minnhom f’suq kontinentali mag˙qud.


Il-kontroversja dwar jekk l-ekonomija Çiprijotta setg˙etx tkun vijabbli jew le rromblat fi Ωmien fejn fost il-pajjiΩi ewlenin taΩ-Ωona ewro kibret kontroversja o˙ra: dwar l-evaΩjoni rampanti tat-taxxa minn ˙afna çittadini u ditti Ewropej, fost o˙rajn. Fl-Istati Uniti ©ie ppubblikat patafjun ta’ dokumenti b’listi u dettalji ta’ nies li kienu qed jevadu t-taxxa billi jg˙addu l-qlig˙ tag˙hom f’kontijiet bankarji miΩmuma f’pajjiΩi msej˙a “tax havens”. Pressjoni baqg˙et issir fuq l-IΩvizzera u l-Awstrija biex dawn jillaxkaw ir-regoli tag˙hom dwar segretezza bankarja.Fuq kollox skatta fi Franza l-iskandlu tal-Ministru Cahuzac.G˙al ©img˙at s˙a˙, dan baqa’ jigdeb lill-President Hollande, lill-Parlament u lill-poplu billi jg˙id li qatt ma kellu xi kont sigriet bankarju fl-IΩvizzera. Issa, Cahuzac kien tpo©©a minn Hollande biex jiΩgura, fost affarijiet o˙ra, li l-evaΩjoni tat-taxxa ti©i kkontrollata a˙jar. L-iskandlu ta’ Cahuzac kompla jkisser il-popolarità tal-President Hollande nnifsu. Fl-a˙˙ar xhur, di©à kienet tbaxxiet qatig˙. L-iskandlu ta’ Cahuzac ta rankatura politika ©dida fi Franza favur it-traΩΩin tal-“©enna” fiskali li ssaltan f’diversi pajjiΩi. F’hekk, Franza sabet ru˙ha fuq l-istess binarju b˙all-Ìermanja li ilha s-snin timpesta kontra s-setturi finanzjarji tal-Lussemburgu u tal-IΩvizzera, li baqg˙u jipprovdu mo˙biet fejn çittadini ÌermaniΩi jpo©©u flushom. It-trattament mog˙ti lil Çipru f’daqqa beda ji©i spjegat b˙ala parti minn strate©ija me˙tie©a biex il-mo˙biet fiskali fiΩ-Ωona ewro u barra minnha jitne˙˙ew. Imma dil-˙a©a ma kkonvinçietx lil kul˙add. Fost ˙afna, baqg˙et tinfirex il-fehma li Çipru ©ie ttrattat b’mod in©ust u arbitrarju, imqabbel ma’ pajjiΩi o˙ra taΩ-Ωona.Fil-Parlament Ewropew kien hemm g˙add ta’ deputati influwenti li fissru dil-


fehma u w˙ud rabtuha mal-fatt li Çipru ©ie ttrattat kif ©ie ttrattat g˙ax hu pajjiΩ miç-çkejkna. Jidher li, fil-ma©©oranza tag˙hom, iç-çittadini Çiprijotti huma tal-istess fehma, maqbuda kif inhuma fit-tnalja ta’ riçessjoni qalila u l-biΩa’ li l-ekonomija tal-gΩira mhux se jkollha biΩΩejjed mezzi biex to˙ro© mill-˙ofra li waqg˙et fiha. Hu x’inhu, jidher sew li l-kriΩi ta’ Çipru mhux biss ˙alliet klima ta’ qrusa warajha, talli se tibqa’ mag˙na g˙al xi Ωmien ie˙or.

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F’Malta dak li ©ara Çipru ma setax ma jqajjimx t˙assib. Minn barra jidher li Malta g˙andha l-istess struttura ekonomika b˙al Çipru, bis-settur finanzjarju u tal-banek ila˙˙aq g˙al aktar minn tmien darbiet id-daqs tal-ekonomija Maltija. Dak li ©ara f’Çipru seta’ jirrepeti ru˙u f’Malta? L-argument ma tqajjimx biss f’Malta imma anki fil-midja internazzjonali.

THEDDIDA GÓAL MALTA

L-awtoritajiet Maltin g˙amlu tajjeb, mill-Bank Çentrali ’l isfel, li ˙ar©u jfissru kif l-istruttura finanzjarja Maltija hi differenti minn ta’ Çipru. PereΩempju, g˙andna ˙afna anqas banek milli kellu Çipru li huma involuti direttament fl-ekonomija Maltija: ftit anqas minn kwart. Il-bqija ja˙dmu biss u direttament ma’ barra. G˙alhekk l-affarijiet ma jistg˙ux ji©ru kif ©raw f’Çipru. Dan hu korrett. Imma l-problema li se nkunu qed niffaççjaw forsi hi differenti, fis-sens li l-Ewropej mhux se jkunu daqstant interessati jekk is-settur finanzjarju hux vijabbli jew le f’pajjiΩ jew f’ie˙or. Minflok, se jkunu aktar


attenti biex iraΩΩnu u jne˙˙u s-setturi finanzjarji li jqisuhom b˙ala fattur importanti fl-evaΩjoni tat-taxxa. U l-pressjoni politika qed tiΩdied biex dan it-traΩΩin jitwettaq. Fil-magaΩin FrançiΩ L’Express tal-bidu ta’ April �013, Jacques Attali, li kien kollaboratur mill-qrib tal-President Mitterrand u li g˙adu mitqies b˙ala wie˙ed mill-˙assieba influwenti tal-Partit Soçjalista FrançiΩ, kiteb dwar dan is-su©©ett. F’artiklu bit-titlu “Jew l-etika jew l-exit”, qal hekk dwar x’g˙andu jsir fil-pajjiΩi taΩ-Ωona ewro li g˙andhom setturi finanzjarji qawwija: “Je˙tie© neliminaw il-©enna fiskali u bankarja (li jipprovdu) Malta u s-Slovenja. Lil hinn minn dan, je˙tie© li nqajmu l-kwistjoni tal-Lussemburgu, g˙ax l-istatut bankarju u fiskali tieg˙u se jag˙mel deni gravi lill-kredibilità tal-ewro. U m’g˙andniex in˙allu lil-Litwanja tid˙ol fiΩ-Ωona tal-ewro...” Fil-˙arsien taΩ-Ωona ewro, donnha die˙la l-fehma li hemm bΩonn ta’ politika uniformi dwar kif is-setturi finanzjarji g˙andhom jinbnew u jkunu sostnuti fil-pajjiΩi membri tal-UE, u dwar kif g˙andhom ikunu ntaxxati. Hu dwar dan l-iΩvilupp li d-difensuri tas-settur finanzjarju Malti g˙andhom joqog˙du b’seba’ g˙ajnejn. Fl-a˙˙ar snin, it-tkabbir ekonomiku ta’ pajjiΩna kien sostnut l-aktar... g˙alkemm xorta wa˙da baqa’ fjakk... mis-servizzi finanzjarji u dawk tal-im˙atri fuq l-internet.

(It-Torça, 21 ta’ April 2013)


31

ÓADU ÛBALL

Ûew© ekonomisti tal-Fond Monetarju Internazzjonali Olivier Blanchard u Daniel Leigh ammettew li l-Fond ˙a Ωball meta kkalkola l-effetti tal-awsterità fuq l-ekonomiji taΩ-Ωona ewro li kienu jinsabu f’diffikultà. L-awsterità ©iet imposta fuq pajjiΩi b˙all-Greçja, il-Portugall u l-Irlanda b˙ala kundizzjoni biex jing˙ata bailout. L-ekonomisti tal-Fond kienu qed jikkalkolaw li g˙al kull ewro ta’ tnaqqis fl-ispiΩa tal-gvern ta’ dawn il-pajjiΩi, l-ekonomija kienet se tonqos “biss” b’50 çenteΩmu. Mentri issa qed isibu li g˙al kull ewro ta’ tnaqqis fin-nefqa tal-gvern, l-ekonomija bdiet tonqos b’ewro u sittin çenteΩmu. Óa©a b˙al din qed ikollha effett katastrofiku fuq l-ekonomija ta’ dawn il-pajjiΩi, li min˙abba l-awsterità raw it-tkabbir ekonomiku jibqa’ nieqes u l-qg˙ad jibqa’ tiela’. Minkejja li qed jirrikonoxxu dan l-iΩball, il-mexxejja taΩ-Ωona ewro u tal-Fond Monetarju Internazzjonali m’g˙andhom l-ebda ˙sieb inaqqsu mill-pressjoni tag˙hom biex tinΩamm l-awsterità.


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386

Óadu Ωball 387

TRANSAZZJONIJIET FINANZJARJI

Waqt li ninsabu medhija bl-elezzjoni ©enerali, fi Brussell baqg˙u g˙addejja bil-pjan biex ida˙˙lu taxxa fuq it-transazzjonijiet finanzjarji. L-aqwa pajjiΩi tal-ewro u tal-Unjoni Ewropea (˙lief g˙ar-Renju Unit) se jkunu qed jipparteçipaw fi skema komuni ta˙t proçedura msej˙a ta’ “kooperazzjoni msa˙˙a”. Biha, xi membri tal-UE jistg˙u jiftiehmu biex iΩidu l-g˙aqda ta’ bejniethom lil hinn minn dak li jorbot flimkien lill-membri kollha. Il-partiti f’Malta ̇ ar©u kontra t-taxxa fuq transazzjonijiet finanzjarji g˙ax jemmnu li tfixkel l-iΩvilupp tas-settur tas-servizzi finanzjarji li, fl-a˙˙ar snin, ikkompensa g˙all-mod kif setturi ekonomiçi o˙ra marru lura. L-a˙˙ar deçiΩjonijiet me˙uda fi Brussell se jag˙mluha ˙a©a dejjem aktar diffiçli g˙al Malta biex tibqa’ barra mis-sistema ta’ tassazzjoni komuni fuq servizzi finanzjarji li qed ti©i varata.


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L-INGLIÛI

Il-kontroversja dwar id-deçiΩjoni tal-Prim Ministru Cameron biex jirrinegozja l-kundizzjonijiet li ta˙thom ir-Renju Unit jibqa’ membru tal-Unjoni Ewropea kienet mistennija. Óafna qiesu li l-IngliΩi jridu jgawdu l-benefiççji tal-g˙aqda Ewropea ming˙ajr ma j©orru l-piΩijiet. Il-qofol tal-argument IngliΩ jistrie˙ madankollu fuq realtà konkreta: il-membri taΩ-Ωona ewro, li huma parti mill-Unjoni Ewropea, qed ida˙˙lu miΩuri ©odda ta’ g˙aqda politika u ekonomika bejniethom. L-IngliΩi qed iqisu li dan hu inevitabbli jekk iΩ-Ωona ewro mhix se tikkollassa


– ˙a©a li huma ma jixtiqux jarawha sse˙˙, anke jekk ma jridux jid˙lu fiΩ-Ωona ewro. Imma dan l-iΩvilupp se jibdel l-operat tal-Unjoni Ewropea kollha kemm hi. Se jkompli jag˙mel hekk aktar maΩ-Ωona ewro ssa˙˙a˙ ir-rabtiet interni tag˙ha. B’dan, l-ambjent intern tal-Unjoni Ewropea kollu kemm hu qed jinbidel u se jaffettwa t-t˙addim tas-suq wie˙ed Ewropew. Allura jrid jew ma jridx, min jinsab barra Ω-Ωona tal-ewro se jkollu jirrevedi l-kundizzjonijiet tas-s˙ubija tieg˙u g˙ax il-kalkoli li fuqhom ibbaΩa din is-s˙ubija m’g˙adhomx jg˙oddu.

28 ta’ Jannar 2013***

F’MADRID

L-g˙aqda tat-trejdjunjins Ewropej, l-ETUC, ikkommemorat l-erbg˙in anniversarju mit-twaqqif tag˙ha b’laqg˙a f’Madrid. G˙aliha attenda fost l-o˙rajn il-Kummissarju Ewropew Olli Rehn li hu responsabbli wkoll mill-programmi ta’ “tis˙i˙” finanzjarju tal-pajjiΩi tal-ewro li g˙andhom problemi kbar ta’ djun. Qam kif mistenni dibattitu mieg˙u dwar l-effetti tal-politika ta’ awsterità fuq il-˙addiema u n-nies qieg˙da. Ir-rappreΩentanti tal-unjins mill-Ewropa kienu unanimi fil-kritika qawwija tag˙hom tal-effetti antisoçjali li qed i©©ib mag˙ha l-awsterità. Wissew li dawn l-effetti se jkomplu jo˙olqu problemi tat-tul. Rehn argumenta li mhux l-awsterità ta˙ti g˙al x’inhu ji©ri, imma l-politika finanzjarja Ωbaljata tal-pajjiΩi konçernati li nΩammet g˙al snin twal. Madankollu jidhirli li Rehn ma kellux twe©iba tajba g˙all-akkuΩa li saritlu, dik li matul il-kriΩi finanzjarja u

Óadu Ωball 389

f’li x’qed isir biex tin˙all, il-bankiera baqg˙u ji©u ttrattati ˙afna a˙jar mill-˙addiema.

31 ta’ Jannar 2013***

KAÛINÒ

Qed jag˙mlu sew l-awtoritajiet finanzjarji Maltin li jis˙qu fuq kif is-settur bankarju Malti ma jixbahx lil dak Çiprijott, anki jekk b˙al f’Çipru, l-assi tal-banek stabbiliti f’Malta jla˙˙qu aktar minn tmien darbiet id-daqs tal-ekonomija tag˙na. Biss, wisq nibΩa’ li, strate©ikament, il-problema g˙al Malta hi usa’ mill-argument li tkellmu dwaru. Il-fatt hu li l-mexxejja taΩ-Ωona ewro qed tog˙rokhom g˙ajnhom mis-servizzi finanzjarji li Ωviluppaw fil-pajjiΩi periferiçi – ˙lief g˙al-Lussemburgu – taΩ-Ωona tal-ewro. It-tensjoni bejn il-Ìermanja u l-Lussemburgu dwar dan is-su©©ett ilha g˙addejja. Skont il-pajjiΩi l-kbar taΩ-Ωona, is-servizzi finanzjarji mhuma xejn a˙jar minn magna biex biha kapitalisti Ωg˙ar u kbar je˙ilsu mit-taxxi li suppost i˙allsu. L-argumenti fuq dan il-binarju ilhom jissodaw, mhux l-anqas fid-diskussjonijiet dwar id-d˙ul ta’ taxxa fuq is-servizzi finanzjarji. Turi dan ukoll l-istqarrija ta’ ministru FrançiΩ dwar kif l-ekonomija ta’ Çipru kienet ibbaΩata fuq prinçipji ta’ kaΩinò u g˙alhekk ma kinitx sostenibbli. Tg˙id, dan l-a©©ettiv g˙ad jispiçça applikat ukoll g˙al Malta, fis-sens li l-qasam tal-im˙atri bl-internet, b’çertu mod relatat mas-servizzi finanzjarji, fostna hu l-aktar wie˙ed qawwi, u relattivament l-aqwa fl-Ewropa?

28 ta’ Marzu 2013


PATT FISKALI

...Issa g˙andna konferma uffiçjali. Id-defiçit tal-gvern is-sena li g˙addiet spiçça wisq akbar milli stima l-Ministru tal-Finanzi f’Novembru. Dan g˙ax id-d˙ul kien anqas u l-˙ru© kien aktar. Bil-konsegwenza li d-defiçit pubbliku, b˙ala persenta©© tal-ekonomija kif imkejla bil-Prodott Gross Domestiku, qabeΩ sew it-3 fil-mija. Ma nistag˙©ibx jekk issa se jqumu pressjonijiet minn Brussell biex il-gvern il-©did jara x’se jag˙mel dwar dil-˙a©a, anki jekk mhux tort tieg˙u li ©ara dak li ©ara. Fin-nofs jistg˙u jid˙lu miΩuri li jkunu inforzati ta˙t il-patt fiskali, iffirmat mill-pajjiΩi membri taΩ-Ωona ewro. Dan jobbliga lill-pajjiΩi li jkollhom defiçit “g˙oli” biex isegwu dixxiplina qawwija u stretta fil-mod kif iraΩΩnu d-defiçit u jnaqqsu d-dejn nazzjonali. Malta g˙adha ma rratifikatx il-patt fiskali. Fl-a˙˙ar le©iΩlatura, il-gvern Nazzjonalista kien issuppervja u waqqaf id-diskussjoni dwaru. Kienu akkuΩawni li qed na˙li wisq ˙in tal-Parlament fuqha. Imma l-patt ©ie rratifikat minn biΩΩejjed firmatarji biex hu issa inforza. Iddettat mill-Ìermanja, il-patt japplika qisu sidrija tal-azzar fuq il-˙elsien li suppost g˙andu kull gvern sovran fit-tmexxija tal-finanzi tieg˙u.

8 ta’ April 2013

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RATIFIKA

Fl-a˙˙ar g˙adda mill-Parlament it-Trattat dwar l-Istabbiltà, il-Koordinazzjoni u l-Governanza. Konna bdejna niddiskutuh fl-a˙˙ar le©iΩlatura, sakemm il-gvern xeba’ jag˙ti l-ispjegi neçessarji dwar it-Trattat u d-diskussjoni

Óadu Ωball 391

t˙alliet nofs le˙ja. Issa, bir-ratifika tal-Parlament, Malta se tapplika l-miΩuri ssettjati fit-Trattat li di©à da˙al fis-se˙˙ g˙ax tnax-il pajjiΩ membru taΩ-Ωona ewro rratifikawh. Huma regoli li jimponu fuq kull pajjiΩ kif iΩomm kontroll tad-defiçit tieg˙u u jnaqqas id-dejn nazzjonali. L-istess regoli g˙al kul˙add, jew hekk suppost. Naraw x’ji©ri meta fin-nofs ikun hemm xi pajjiΩ mill-kbar taΩ-Ωona ewro, Franza jew Spanja, biex ma nsemmux lill-Ìermanja. Hu importanti li kull gvern, ikun liema jkun, jikkontrolla serjament in-nefqa u d-defiçit tieg˙u. Biss, m’iniex konvint li kull sitwazzjoni g˙andha tintlaqa’ bl-istess miΩuri. It-Trattat idda˙˙al fuq insistenza ÌermaniΩa. Saru ˙afna kummenti kontra tieg˙u, fil-bera˙ u fil-mag˙luq. Favuru, intqal li t-t˙addim tieg˙u se jag˙ti koerenza akbar liΩ-Ωona ewro. Sakemm ma sse˙˙x konver©enza fl-iΩvilupp tal-ekonomiji tal-ewro – ˙a©a li ma tantx tidher fil-qrib – miΩuri ma˙suba biex iΩommu l-finanzi pubbliçi tal-pajjiΩi membri fuq l-istess binarju jistg˙u ma jkunux biΩΩejjed biex jil˙qu l-g˙an li g˙alih idda˙˙lu. U jistg˙u jkunu kontraproduçenti.

13 ta’ Ìunju 2013***

XANDIR FIL-GREÇJA

Il-gvern Grieg qata’ ˙esrem it-traΩmissjonijiet televiΩivi ta’ kanal ta’ xandir tal-istat. Ried jilqa’ g˙all-krib g˙addej tat-trojka li tissorvelja kif il-gvern qed inaqqas l-ispiΩa tieg˙u ˙alli jla˙˙aq mal-esi©enzi taΩ-Ωona ewro biex il-finanzi pubbliçi Griegi jirpiljaw. It-trojka tikkonsisti minn uffiçjali tal-Fond Monetarju Internazzjonali, il-Kummissjoni Ewropea u l-Bank Çentrali Ewropew.


Mal-a˙bar ta’ x’©ara, qamu il˙na mal-Ewropa kollha biex jikkritikaw bil-kbir. Mhux sew li mezzi ta’ komunikazzjoni ji©i maqtug˙a b’dal-mod. Il-libertà tal-kelma qed ti©i mhedda, eçç., eçç. Stramba kif ftit ˙ar©u g˙onqhom biex jiddefendu l-azzjoni tal-gvern Grieg. Bi twe©iba, dan qal li qed jag˙mel mill-a˙jar tieg˙u biex iwettaq il-kmandi tat-trojka ˙alli jnaqqas l-ispiΩa pubblika.

17 ta’ Ìunju 2013***

SELF LILL-GREÇJA

Il-Ministru tal-Finanzi Malti Scicluna ̇ abbarha uffiçjalment fil-Parlament. Is-self li Malta g˙amlet lill-Greçja fi ˙dan l-arran©amenti taΩ-Ωona tal-ewro biex dal-pajjiΩ ma jeg˙riqx finanzjarjament qed ifisser telf kbir lill-kaxxa ta’ Malta – b’kollox xi ˙dax-il miljun ewro. Biex insellfu lill-Greçja b’img˙ax baxx, qed ikollna nissellfu b’rata g˙olja. L-eks Ministru tal-Finanzi Fenech kien fta˙ar li b’das-self Malta se tag˙mel qlig˙ tajjeb. Ter©a’, Scicluna ˙abbar li meta tqabbel l-impenn finanzjarju Malti lejn il-Greçja, fost o˙rajn, ma’ tal-bqija tal-pajjiΩi tal-ewro, tag˙na ji©i l-og˙la wie˙ed. Xejn ma juri a˙jar kemm l-impenji Ewropej li d˙alna g˙alihom saru b’fiduçja g˙amja, b’mod im˙awwad u ming˙ajr g˙arfien strate©iku ta’ x’inhu l-a˙jar interess ta’ Malta. Meta jien u o˙rajn wissejna dwar hekk lill-gvern preçedenti kien we©ibna li m’g˙andux bΩonn il-pariri tag˙na.


(Blogg, inews, Jannar – Ìunju 2013)

The euro in midsummer 393

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THE EURO IN MIDSUMMER

While in Malta and elsewhere, concerns about irregular migration have topped the political agenda, leaders of the euro zone, especially those of the main member states, have been making brave statements about another problem area. French President Hollande stated that the worst of the euro crisis is over. Ditto, top representatives of the German government, EU Commissioners, as well as Mario Draghi, head of the European Central Bank. Similar statements made in the past were soon invalidated by events. Repetition could now strain credibility but the risk of reinforcing crisis would have been too great if again they proved to be wrong. So these more recent declarations were believed. As Draghi showed last summer when he promised all-out support for the euro, impression management is a key factor in containing crises. For the past weeks and months, financial markets were relatively stable even if nervy. There was political uncertainty in Italy. Wideranging scandals hit the political establishments of France and Spain (not to mention Luxembourg). Squabbling arose about the timing of

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austerity measures under the bailout programmes applied to Greece, Portugal and Ireland. There was an awkward dispute between the IMF and the Commission regarding who was most to blame for the way the euro zone crisis was handled in its early stages, back in �009. Meanwhile, the position in which Cyprus has been placed (or has placed itself in) remained economically incoherent and anomalous. Still, interest costs on most government debt remained affordable. Given this quiet scenario, it seems churlish to mention the buts. Yet it is important not to take everything at face value. As of midsummer �013, it is still reasonable to talk about the persistence of crisis conditions surrounding the euro, making the problem one of the longest lasting of its sort in modern times. Moreover, economic recession has endured in most of Europe, where not so long ago, very encouraging growth rates were taken as a matter of course. The very high rates of unemployment especially among the young are extremely worrisome. Beyond the encouraging assessments provided by interested players about the progress that has been made, at least three interconnected factors require attention. These relate to the cumbersome methods by which the euro zone muddles through to resolve issues. They arise from the consequences of the financial austerity being imposed on deficit countries within the zone, which among other things is serving to stymie economic convergence between the zone’s member states. And they reflect the growing realization that strengthening the zone’s response structures does not have and will not carry political legitimacy among the peoples involved.


COMPLEX DECISION-MAKING

In first place the complexity that governs the euro’s management processes seems entrenched. Although with globalization, crisis situations can develop very fast worldwide, the euro zone must react through a succession of incremental steps which are politically driven, and which at times amount to running on the spot. The political nature of most decision-making makes it imperative to take into account the electoral timelines of member states, especially the bigger ones. Yet by the time a particular dateline has been turned, another one is likely to loom on the horizon. For instance, much has been made of the German federal elections and how decisions have had to be placed in the context of Chancellor Merkel’s strategy to win them. For which read that anything in euro decision-making that might hamper her strategy needed to be postponed. However, once the German federal elections are over, similar considerations will be advanced about the European Parliament elections due in May �014. European federalists and Europhiles of all sorts seem to be dreading their approach. Up to now, euro zone leaders have been quite tolerant of postponements. However, naturally, a consequence of postponement is to give space for opponents of certain measures to marshall their forces and create a climate against proposed changes.

POSTPONEMENTS

This has happened on at least two crucial policies that a few months back seemed to have the wind in their sales:


namely the launch among a restricted group of euro zone members of a financial transaction tax (FTT), on dealings in financial instruments (bonds, derivatives, shares etc.); and the establishment of a common European regime to supervise banks and deal with banking emergencies. The former would have helped to improve government finances in the member states applying the FTT, while reining in speculative financial movements that tend to trigger unsustainable bubbles (or so the justification for the financial transaction tax went). Meanwhile, a common regime for banking supervision and control would help to minimize crashes caused by abusive bank operations. It would run a uniform method by which to deal with banking crises and most importantly, get the rescue of failing banks out of the remit of national states. Thus the latter’s budgetary balance would not be endangered by their having to intervene. In the medium to long term it does not help the image and functioning of the euro zone if when difficulties arise, it needs time to respond. As designed, the euro zone remains subject to give and take between national entities. Even if Germany is acknowledged as the real engine of decision-making, the rules set to achieve outcomes have to reflect the realities of other members states in the system. Moreover, Germany itself is divided internally about what role it should assume.

CENTRAL BUDGETING CONTROLS

To compensate for the structural deficiencies of the system by which the euro is managed, ever increasing central control over national budgeting has been introduced. The


“German model” of zero deficit budgeting accompanied by consistent measures to cut the national debt over the long term is being imposed on the euro system. Sanctions will apply to those who fail to follow the set budgetary criteria. It is anybody’s guess how this will work out in practice when the big euro four (Germany, France, Italy and Spain) find themselves seriously out of step with budgetary rules. By putting fiscal rectitude above all other considerations, national financial systems will be required to bolster the weaknesses of the zone’s decision making at the centre. However, this will limit the flexibility of states to counteract recessionary developments though their own public spending. By being obliged to restrain their spending in order to maintain balanced budgets even at times of recession, states could indeed be reinforcing recession. The widespread “austerity” programmes that have been launched under this philosophy are rightly blamed with having prolonged economic stagnation and worse within the euro zone. There has been minimal relaxation in this stringency, despite the political damage it has caused to governing parties. Calls have been made to counterbalance “austerity” with “social” programmes meant to stimulate youth employment, technical training and regional growth initiatives. It remains to be seen whether these programmes will be successful economically and politically. Nowhere are the persisting dilemmas as apparent as in France. Here, the ruling Socialist Party controls practically all the relevant levers of political power, but is undergoing stresses that are inhibiting it from either developing policies that push hard for “reform” via austerity, or that plump for outright expansion. Even so, the biggest contradiction underlining the


austerity and fiscal consolidation approaches that are being followed to keep the euro zone together, still needs to be resolved. Or more correctly, it still needs to be faced. Much has been said about economic convergence as the fundamental goal of the euro zone if it is going to attain full stability. But in reality, the divide between the north and the south is growing, rather than closing. Nothing that is being said or done gives much hope that this breach will repaired in the immediate or medium term. That should be a cause for concern.

CAN FEDERALISM BE LEGITIMATE?

Which brings one to the third great dilemma that seems no closer to a solution as of midsummer �013. Technically, it is clear that the euro zone’s problems will only fade away if more federalism is injected into Europe’s decision making structures. That however is a political process for which the appetite is waning in most EU member states. No wonder that fears are growing that the next European Parliament will be dominated by national representatives who take a dim view of federalism, to put it mildly. One of the most surprising twists in the euro saga came earlier this year, from Holland of all places. This country has always been considered as one of the bastions in favour of deeper pan-European construction... at least until the Dutch voted against the European constitution that was being proposed some ten years ago. But now, the Dutch government has stated in a well publicized memorandum that what is needed to counter crises, is not more Europe but less. The “technical” solutions that have been mooted


to improve the governance of the euro zone require a federalizing strategy. If this is going to be legitimate and enduring, it needs steadfast political support across the board. There is no evidence that this exists, except among elites which have been losing ground since the eurocrisis failed to evaporate. Beyond the point about the absence of political legitimacy in the federalizing project, another dilemma looms that is only being partially addressed and this in piecemeal fashion. A federalized euro zone is likely to create new fissures in the single market in which all EU member states participate as part of their joint project. Indeed, those outside the euro zone could feel that moves to strengthen central euro management amount to creating new barriers limiting their access to the single European market. The UK has been in the forefront to push this argument though their approach has also been defined by tactical considerations related to internal British politics. However, that further institutional deepening of euro zone structures towards federalism would conflict with the single market remains very much a possibility. Such an outcome would be more fundamental in scope than the twin or multiple speed models that are frequently mentioned as viable options by which to launch new pan-European projects that cannot achieve consensus. Strains would then likely develop not only inside the euro zone itself, but also between it and the rest of the EU. So institutionally and economically, at least three roadblocks must be cleared before the euro crisis can be declared to be well and truly over. Yet despite the current calm, it is difficult to argue that much progress has been made to bring about more effective decision making; to


resolve the dilemmas created by austerity programmes plus economic divergence; and perhaps most important, to promote political legitimacy. The agenda to make the euro a self-sustaining institution could well outlast as a policy concern the deep problems also being posed in Europe by irregular migration.

(The Malta Independent on Sunday, 28 July 2013)


V. L-ISTAÌNAR EKONOMIKU UL-MUDELL SOÇJALI EWROPEW/

ECONOMIC STAGNATION AND THE EUROPEAN SOCIAL MODEL

Settembru 2013 – April 2014/September 2013 – April 2014


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MALTA FIL-QAFAS TAL-UNJONI EWROPEA U TAL-EWRO

G˙axar snin wara s-s˙ubija ta’ Malta fl-Unjoni Ewropea hu xieraq li nag˙tu ̇ arsa lejn kif inbidlu l-ekonomija u s-soçjetà tag˙na matul dan iΩ-Ωmien. Id-d˙ul ta’ pajjiΩna fl-Unjoni Ewropea kien su©©ett ta’ kontroversja politika qawwija. Il-gvern ta’ dak iΩ-Ωmien kien b’ru˙u u ©ismu favur is-s˙ubija ta’ Malta, u uΩa r-riΩorsi kollha li seta’ jimmobilizza biex jikkonvinçi lill-Maltin u ’l-G˙awdxin li hekk kien jaqblilhom jiddeçiedu. Jien u o˙rajn konna nargumentaw li waqt li l-Unjoni Ewropea kienet binja poΩittiva ˙afna g˙all-Ewropa u g˙ad-dinja, is-s˙ubija ta’ Malta fiha kienet tfisser it-t˙addim minn Malta tar-regoli kollha tal-klabb Ewropew, bil-vanta©©i u l-iΩvanta©©i tag˙hom. Qisna li l-iΩvanta©©i kienu se jeg˙lbu l-vanta©©i u ridna minflok s˙ubija, ftehim mill-qrib mal-Unjoni li ma kienx jeskludi fil-futur s˙ubija s˙i˙a. G˙edna wkoll li konna se naççettaw il-verdett tal-poplu kif mog˙ti f’elezzjoni ©enerali. U hekk g˙amilna. Illum mhux iΩ-Ωmien li noqog˙du n˙aqquha fuq min

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kellu ra©un u min kellu tort. Hemm ˙afna li jg˙idu li kellu ra©un il-gvern tal-©urnata. Hemm ˙afna o˙rajn li jg˙idu kemm kellhom ra©un dawk li riedu rabta speçjali mal-Unjoni u mhux s˙ubija s˙i˙a. Imma ner©a’ ng˙id, ftit jag˙mel sens li nibqg˙u nikkustinjaw fuq hekk.

FEJN NINSABU?

Aktar jaqbel li naraw fejn ninsabu u x’nistg˙u nag˙mlu aktar u a˙jar, biex inkattru l-vanta©©i li offriet s˙ubija fl-Unjoni Ewropea u mag˙ha, s˙ubija fiΩ-Ωona tal-ewro li ©rat fis-sena �008. Bl-istess mod, irridu naraw x’nistg˙u nag˙mlu aktar u a˙jar biex fejn is-s˙ubija ©abet Ωvanta©©i u piΩijiet mag˙ha, dawn inraΩΩnuhom u ntaffuhom. Fil-proçess li bih Malta bdiet tiffunzjona b˙ala membru s˙i˙ tal-Unjoni, pajjiΩna kellu Ωmien ta’ adattament. Matulu, da˙˙alna r-regoli kollha tat-tmexxija, komuni g˙all-membri kollha tal-Unjoni li, sal-mument tad-d˙ul, kienu g˙adhom ma twettqux f’Malta. Sadattant, il-li©ijiet u r-regolamenti Maltin kellhom kollha ji©u mibdula jew irran©ati biex jirriflettu d-direttivi u r-regolamenti li kienu ˙ar©u jew qed jo˙or©u minn Brussell. G˙all-bidu konna waqajna lura f’din il-˙idma. Imma mbag˙ad il-problema ©iet solvuta, jekk dik hi l-kelma, billi r-regolamenti Ewropej bdew jitwettqu l-aktar permezz ta’ notizzji legali, li jin˙ar©u mill-ministeri. B’hekk, ©iet evitata l-˙tie©a ta’ diskussjoni dwarhom fil-Parlament, ˙a©a li tqieset b˙ala li ddewwem wisq id-d˙ul fis-se˙˙ tar-regoli Ewropej. Illum ninsabu minn ta’ quddiem nett fl-Unjoni Ewropea fost il-membri li jda˙˙lu malajr malajr ir-regoli mfassla fi Brussell. Kemm dawn ir-regoli qed ji©u m˙addma tajjeb

Malta fil-qafas tal-Unjoni Ewropea u tal-ewro 405

hi mistoqsija differenti li je˙ti©ilha lekçer separat, jekk se tkun ittrattata bis-sens. Fl-oqsma kollha tat-tmexxija ekonomika u kwaΩi anki soçjali qeg˙din g˙alhekk insegwu ˙afna regoli mfassla mill-Unjoni Ewropea. Meta niksruhom, b˙al kull membru ie˙or tal-Unjoni, naqg˙u ta˙t id-dixxiplina komunitarja kif im˙addma mill-Kummissjoni Ewropea, mill-Kunsill tal-Ministri u, fl-a˙˙ar istanza, mill-Qorti Ewropea tal-Ìustizzja. F’kull wa˙da minn dawn l-istanzi, Malta hi rappreΩentata. Malta g˙andha wkoll rappreΩentanza fl-istanzi l-o˙ra kollha tat-tmexxija, tar-regolamentazzjoni u tal-konsultazzjoni li jeΩistu fi ˙dan l-Unjoni u fiΩ-Ωona tal-ewro. Hekk ukoll, skont çavetta ta’ kejl li tapplika b’mod simili – kif g˙andu jkun – g˙all-membri kollha, Malta kull sena t˙allas, mill-ba©it tal-gvern, il-miΩata tas-s˙ubija tag˙ha. Fl-a˙˙ar snin, din la˙˙qet kull sena g˙as-somma ta’ bejn 60 u 65 miljun ewro. Malta tirçievi wkoll fondi ta’ appo©© kull sena minn Brussell, dejjem skont ir-regoli Ewropej. G˙all-bidu, dawn kienu jaslu l-aktar b˙ala fondi m˙allsa direttament fil-ba©it tal-gvern. Mag˙hom kienu jiΩdiedu xi fondi li kienu jin˙ar©u mill-ba©it tal-Kummissjoni Ewropea b˙ala kontribuzzjoni g˙al pro©etti varati mill-gvern Malti, wara li dawn il-pro©etti jkunu ©ew approvati minn Brussell. Meta g˙adda Ω-Ωmien tal-bidu, tista’ tg˙id li l-ammonti kollha li tirçievi Malta ˙adu l-forma ta’ fondi allokati g˙al pro©etti mag˙Ωula. L-g˙aΩla tag˙hom trid issir dejjem b’mod li jkun konformi ma’ programmi wiesg˙a ta’ ˙idma mfassla g˙all-Ewropa kollha. Fit-t˙addim tag˙hom, irridu nsegwu l-proçeduri li bihom jin˙ar©u l-flus. B’mod ©enerali, kull pro©ett ji©i inparti ffinanzjat mill-gvern Malti u l-bqija tieg˙u mill-Kummissjoni Ewropea.


ÛEWÌ TENTAZZJONIJIET

Fir-rigward tal-ewro, Malta ˙adet mas-s˙ubija fl-Unjoni Ewropea l-obbligu li tipparteçipa eventwalment fiΩ-Ωona ewro. Fost affarijiet o˙ra, kellha tne˙˙i l-lira Maltija biex idda˙˙al il-munita tal-ewro waqt li l-Bank Çentrali Malti kellu jsir parti mis-sistema bankarja diretta mill-Bank Çentrali Ewropew. Malta setg˙et tag˙Ωel hi d-data meta tid˙ol fl-ewro. Jien u o˙rajn ma konniex qbilna li l-bidla kellha ssir daqshekk kmieni, kif ©ara bil-g˙aΩla tas-sena �008 b˙ala d-data tad-d˙ul tal-ewro. Argumentajna li kien hemm bΩonn ta’ aktar Ωmien biex pajjiΩna jaddatta ru˙u g˙as-sistemi tat-tmexxija Ewropej u biex itejjeb il-kompetittività tieg˙u. G˙edna wkoll li s-sistema tal-ewro nnifisha kien g˙ad baqg˙alha Ω-Ωmien biex issib saqajha sew. Meta rajna li ma kienx ing˙ata widen g˙all-argumenti tag˙na, fl-interess nazzjonali ma bqajniex nis˙qu fuq li d-d˙ul fl-ewro jsir b’anqas g˙a©la u b’aktar prudenza. Illum fis-sena �013, jekk se nag˙tu ˙arsa serja lejn il-qag˙da ta’ Malta fil-qafas tal-Unjoni Ewropea u tal-ewro, irridu noqog˙du attenti li ma naqg˙ux f’wa˙da minn Ωew© tentazzjonijiet. Hemm it-tentazzjoni li, jekk konna favur is-s˙ubija ta’ Malta fl-Unjoni, kulma sejjer tajjeb fostna ng˙idu li ©ej min˙abba fiha, u kulma sejjer ˙aΩin inwa˙˙luh f’xi ˙a©a o˙ra jew ninjorawh. U t-tieni tentazzjoni hi li jekk konna kontra s-s˙ubija, kulma sejjer ˙aΩin inwa˙˙luh fis-s˙ubija u kulma sejjer tajjeb b’risq l-Unjoni Ewropea ninjorawh. Hi ˙a©a diffiçli f’pajjiΩna li tibqa’ o©©ettiv fuq ˙afna su©©etti ta’ importanza nazzjonali.


Biex tag˙qad, meta ni©u biex inqabblu Malta llum ma’ Malta ta’ g˙axar snin ilu, mhux Ωew© tentazzjonijiet biss iqumu, imma wkoll Ωew© kumplikazzjonijiet. L-ewwel kumplikazzjoni hi li ©raw bidliet f’Malta li ftit li xejn kellhom x’jaqsmu ma’ x’rabta kellu, jew seta’ kellu, pajjiΩna mal-Unjoni Ewropea. Dawn it-tip ta’ bidliet irridu nag˙rfuhom sew. Nitkellmu dwarhom aktar fit-tul minn hawn u ftit ie˙or. G˙ax qabel tajjeb li nirrealizzaw x’inhi t-tieni kumplikazzjoni: L-Unjoni li ninsabu membri tag˙ha u d-dinja li qed iddawwarha mhumiex l-istess Ewropa u l-istess dinja ta’ madwarha li kienu fiΩ-Ωmien li d˙alna. Tajjeb li nsemmu xi fatturi li ja˙tu g˙al dawn il-bidliet kbar li se˙˙ew fl-ekonomija Ewropea u f’dik dinjija. Qabelxejn, it-teknolo©iji tal-komunikazzjoni – ta’ kif inwasslu l-messa©©i lil xulxin u bejn xulxin – ta’ kif nivvja©©aw – baqg˙u jiΩviluppaw b’rata li taqtag˙lek nifsek. Bl-internet, bit-telefonija mowbajl u dak kollu li ©ie mag˙ha, bl-iΩvilupp ma jaqta’ xejn tal-kompjuters personali, bl-iΩvilupp tal-magni tat-trasport fl-ajru u fuq l-art, il-mezzi ta’ komunikazzjoni ©odda u qodma baqg˙u jçekknu d-distanzi, waqt li ˙affu u kattru d-diskors u n-negozju ta’ bejn il-bnedmin. B˙ala riΩultat, irrombla dejjem aktar ’il quddiem il-fenomenu tal-globalizzazzjoni. Dan renda lid-dinja dejjem aktar qisha suq wie˙ed fejn kul˙add jista’ j˙allat u jaqsam: jew biex nitkellmu aktar çar: fejn l-impriΩi l-kbar kapitalisti li nfirxu mal-erba’ punti tal-kumpass, setg˙u jsa˙˙u l-inizjattivi tag˙hom. Setg˙u ja˙dmu fuq skala dinjija b’˙effa akbar. Kollox se˙˙ f’qafas ta’ tmexxija ekonomika kapitalista: ji©ifieri fejn is-suq ˙ieles tqies b˙ala l-arena li fiha g˙andha


titkewwes kull ˙idma ekonomika, li kellha tit˙alla g˙at-tmexxija ta’ interessi privati. Sadattant, l-istat kellu jΩomm lura minn kull ˙idma ekonomika u kellu sempliçement jie˙u kull miΩura li tissalvagwardja t-tmexxija mill-interessi privati tas-suq ˙ieles. Allura f’dan rajna jissa˙˙u blokki kbar ekonomiçi u soçjali li kellhom firxa wiesg˙a, daqs ta’ kontinent. Kif wie˙ed jistenna, kien hemm fuq quddiem nett l-Istati Uniti tal-Amerika bl-ekonomija kontinentali tag˙ha. Kien hemm ukoll l-Unjoni Ewropea, kien hemm il-Ìappun; u kien hemm ir-Russja, li forsi l-aktar li baqg˙et maqtug˙a g˙aliha mill-blokki kollha. Óadu sura wkoll blokki ©odda fl-a˙˙ar g˙axar snin b’rankatura li mhux kul˙add ippreveda. Kien hemm iç-Çina, li baqg˙et immexxija mill-Partit Komunista imma ˙addnet il-prinçipji ta’ ekonomija li titmexxa skont il-linji ta’ kompetizzjoni privata; l-Indja; il-BraΩil: ji©ifieri pajjiΩi ta’ daqs kbir ˙afna li sa ftit taΩ-Ωmien qabel kienu mitqiesa b˙ala Ωoni b’ekonomija dg˙ajfa, li g˙ad iridu jiΩviluppaw. B˙al f’daqqa wa˙da huma bdew jikbru u jikbru, u fid-dinja globalizzata ˙adu importanza liema b˙alha.

KRIÛI FINANZJARJA

Xprunat mit-teknolo©iji moderni tal-komunikazzjoni li semmejna, il-pern ta’ dawn l-iΩviluppi fuq skala mondjali kien is-settur finanzjarju: dak li ji©bor il-fondi, içaqlaqhom minn rokna g˙al o˙ra tad-dinja, iqassamhom, jinvestihom u jonfoqhom. Din il-˙idma kollha bdiet issir dejjem aktar b’˙effa tal-g˙a©eb, minn na˙a g˙al o˙ra tad-dinja. Waqg˙et ta˙t il-kontroll ta’ gruppi finanzjarji kbar – banek, fondi ta’ investiment, trusts finanzjarji – li dejjem ifittxu kif se juΩaw


il-biljuni ta’ flejjes li jinsabu g˙ad-dispoΩizzjoni tag˙hom b’mod li j˙allilhom dejjem profitti akbar. G˙al numru ta’ snin irnexxielhom idawru r-rota, l-aqwa li jΩidu l-profitti. Tant kibru l-mani©©i biex dawn il-gruppi jag˙mlu profitti akbar malajr malajr, li fis-sena �007 il-buΩΩieqa nfaqg˙et. U malajr malajr instab li ˙afna minn dawn il-gruppi kienu mibnija fuq it-tafal. Se˙˙ew fallimenti enormi u kien ikun hemm aktar minnhom, kieku f’numru ta’ kaΩi ma nda˙lux il-gvernijiet – dawk l-istess gvernijiet li suppost kellhom jibqg˙u lura minn kull ˙idma ekonomika u finanzjarja, f’isem is-santità tas-suq ˙ieles. Il-gvernijiet kellhom iwieΩnu lill-banek u lill-istituzzjonijiet finanzjarji biex ma j˙alluhomx ifallu. Mag˙hom kienu jfallu eluf ta’ impriΩi li jiddependu minnhom g˙all-finanzi tag˙hom, u b’konsegwenza jin˙arqu miljuni ta’ impjiegi. Imma wara li g˙amlu din l-opra ta’ salvata©©, il-gvernijiet li tg˙abbew bil-piΩijiet tal-banek falluti, jew kwaΩi, bdew jog˙tru ta˙t l-istess piΩijiet. Mit-taqlib tal-a˙˙ar sitt snin, l-Unjoni Ewropea, u speçjalment iΩ-Ωona ewro ©o fiha, ˙ar©et imdg˙ajfa aktar minn Ωoni o˙ra. Sa g˙axar snin ilu, l-Unjoni kienet mitqiesa b˙ala mutur ta’ tkabbir ekonomiku. Kemm ilha li ©rat il-kriΩi finanzjarja, l-istampa nbidlet. G˙al sena wara l-o˙ra, l-Unjoni Ewropea u l-aqwa ekonomiji ta’ ©o fiha, forsi forsi bl-eççezzjoni tal-Ìermanja, baqg˙u jag˙tu sinjali ta’ sta©nar u riçessjoni. Il-qg˙ad g˙ola, l-esportazzjoni battiet u l-investimenti majnaw.

X’ÌARA F’MALTA

Hu f’dan l-isfond li rridu n˙arsu lejn x’©ara f’Malta tul l-a˙˙ar g˙axar snin li ilna membri tal-Unjoni Ewropea. Fil-


qasam ekonomiku fostna rajna lil Ωew© setturi jirrankaw bil-kbir. L-ewwel nett is-servizzi finanzjarji: dawn kienu telqu fostna sa mis-snin disg˙in tas-seklu l-ie˙or. Meta d˙alna fl-Unjoni Ewropea, g˙al xi sentejn tlieta, naqqsu mir-ritmu tag˙hom sakemm, biex ng˙id hekk, ˙adu kejl tajjeb taç-çirkostanzi ©odda. Wara komplew jikbru u jistag˙new. L-iΩvilupp tag˙hom fostna jintrabat g˙all-iskala tag˙na, mat-twessig˙ enormi li, kif di©à g˙edna, il-globalizzazzjoni ©abet mag˙ha fil-qasam finanzjarju. Fit-tieni post, faqqsu fostna servizzi ©odda, li rikbu fuq l-internet biex jipprovdu fid-djar mal-Ewropa u mad-dinja, log˙ob tal-azzard. B’hekk sirna l-pajjiΩ membru tal-Unjoni Ewropea bl-akbar parti mill-ekonomija tiddependi minn dan is-settur, qisna l-Atlantic City tal-azzard fuq l-internet tal-Ewropa. Dan l-iΩvilupp ukoll, g˙all-iskala tag˙na, jintrabat mal-firxa dejjem akbar tas-sistemi ta’ komunikazzjoni ultramoderni madwar id-dinja fl-a˙˙ar snin. U b’hekk, bejniethom qed jintqal li s-settur finanzjarju u dak tal-log˙ob tal-azzard bl-internet ila˙˙qu issa mal-kwart tal-ekonomija Maltija. Biex naslu g˙al dan ir-riΩultat, çkienet l-importanza relattiva ta’ oqsma o˙ra ta’ xog˙ol u inizjattiva li rawwimna fostna matul is-snin. Biss, wie˙ed kien jistenna li f’ekonomija li tkun miexja ’l quddiem, is-setturi li tonqsilhom l-importanza relattiva xorta jΩommu l-investiment, l-impjiegi u l-bejg˙ li jkollhom qabel u anki jΩiduh; sempliçement ma jΩiduhx bir-rata tas-setturi l-©odda li jkunu qed jag˙mlu avvanzi akbar. Fil-fatt naraw li l-aktar setturi li naqqsu mis-sa˙˙a relattiva tag˙hom fl-ekonomija tag˙na fl-a˙˙ar g˙axar snin kienu l-manifattura, il-biedja u l-industrija tal-bini. B’xorti ˙aΩina l-istess statistika turi li, kif imkejla


pereΩempju mill-impjiegi li jo˙olqu, dawn is-setturi raw ukoll fl-a˙˙ar g˙axar snin tnaqqis fil-kontribuzzjoni reali tag˙hom lejn l-ekonomija tag˙na. It-turiΩmu, min-na˙a l-o˙ra, wara snin ta’ qtig˙ il-qalb, irnexxielu jΩomm postu fil-˙olqien tal-©id reali, g˙alkemm tilef m’hemmx g˙alfejn ing˙idu mis-sa˙˙a relattiva tieg˙u, imkejla fil-persenta©© ta’ dak li jipproduçi, imqabbel mal-produzzjoni s˙i˙a tal-ekonomija nazzjonali. Biex inkunu g˙edna kollox, dawn it-tendenzi jixbhu x-xejriet li wrew ru˙hom fl-g˙axar snin ta’ qabel sirna membri tal-Unjoni Ewropea, bejn is-sena 1994 u s-sena �004. Ji©ifieri, dak li kien qed ji©ri f’dawk is-snin fl-oqsma tal-biedja, tal-manifattura, tal-bini u anki tat-turiΩmu, baqa’ ji©ri matul l-a˙˙ar disa’ snin. Il-muturi ewlenin tal-ekonomija tag˙na saru kif di©à g˙edna s-servizzi finanzjarji u l-log˙ob tal-azzard bl-internet.

BIDLIET EKONOMIÇI

Hemm min jg˙id li l-bidliet li wasslu biex il-manifattura, il-biedja, il-bini u f’çertu sens anki t-turiΩmu jaqg˙u lura, m’g˙andhomx g˙alfejn idejquna. L-ekonomiji jinbidlu minn deçennju g˙al deçennju, b’setturi jitmermru u o˙rajn jitilg˙u minflokhom. Biss, biex inkunu çari: sa ftit taΩ-Ωmien ilu, id-diskors kien li s-setturi biex ng˙id hekk tradizzjonali tag˙na, fil-manifattura fuq quddiem nett, se jsibu fejn jimir˙u u jikbru fis-snin ta’ wara li Malta tid˙ol fl-Unjoni Ewropea. Ma jidhirx li dan ©ara. Ûgur hu li l-impjiegi li joffru naqsu sew. Tqum il-mistoqsija: dan ©ara g˙ax l-Unjoni Ewropea nzertat qed issofri minn sta©nar u riçessjoni? Diffiçli tirrispondi b’mod s˙i˙. Veru li s-swieq prospettivi Ewropej


g˙all-produzzjoni Maltija bilfors saru aktar diffiçli. Madankollu, minkejja kulma ntqal, qatt ma kien minnu li l-prodotti tal-biedja kellhom isibu xi prospetti ©odda ta’ esportazzjoni. Sadattant, ta’ min isemmi li, fir-rigward ta’ importazzjoni, ix-xiri tag˙na mill-Unjoni Ewropea baqa’ jiΩdied b’rata qawwija mill-�004 lil hawn. Issa, sfida o˙ra li dwarha baqa’ ˙afna x’jing˙ad tirrigwarda l-investiment li jsir f’infrastruttura u f’azjendi li jimpjegaw in-nies. Fl-a˙˙ar g˙oxrin sena jekk mhux aktar, il-persenta©© tal-investiment ©did fl-ekonomija tag˙na beda jonqos. It-tama u l-weg˙da kienu li bid-d˙ul ta’ Malta fl-Unjoni Ewropea dan il-proçess se jmur fir-rivers, ̇ a©a li ma ©ratx. Anzi, kemm ilha li Malta da˙let fiΩ-Ωona ewro fl-�008, kompliet tonqos ir-rata ta’ investiment b˙ala persenta©© tal-Prodott Gross Domestiku Malti. L-Economic Survey ma˙ru© is-sena li g˙addiet mill-gvern Nazzjonalista stqarr çar u tond li “il-proporzjon tal-gross fixed capital formation fil-Prodott Gross Domestiku baqa’ baxx g˙al dawn l-a˙˙ar tliet snin”. M’hemmx g˙alfejn ng˙idu, dan hu Ωvilupp li jinkwetana. Jekk ir-rata tal-investiment fil-pajjiΩ ma tikbirx tal-anqas pass pass mal-ekonomija, u preferibbilment b’rata og˙la, se ji©i affettwat b’mod negattiv il-potenzjal biex no˙olqu impjiegi ©odda u biex intejbu l-kundizzjonijiet futuri ta’ xog˙ol u ta’ ˙ajja. …Hi ˙a©a çara li peress li d-dinja hi kif inhi, nies li g˙andhom fehmiet kuntrastanti dwar l-effetti tas-s˙ubija fl-Unjoni Ewropea fuq Malta, se ji©bdu konkluΩjonijiet differenti minn dawn il-fatti li g˙adni kemm semmejt. Hawnhekk jien qieg˙ed nirrestrin©i ru˙i g˙al li nsemmi l-fatti dwar l-iΩviluppi li se˙˙ew, u qed nag˙mel kummenti mill-anqas.


FONDI EWROPEJ

Li j©ibna g˙as-sitwazzjoni fir-rigward tal-fondi li jit˙allsu lilna minn Brussell u li a˙na n˙allsu lill-Unjoni Ewropea b˙ala, biex ng˙id hekk, il-miΩata tag˙na tas-s˙ubija. Di©à semmejt kif jit˙addmu l-mekkaniΩmi li bihom Malta, b˙all-membri l-o˙ra, t˙allas il-miΩata tag˙ha waqt li ti©bed fondi lejha mill-karus çentrali tal-Ewropa. Fl-ewwel snin, ftit qabel id-d˙ul ta’ Malta fl-Unjoni Ewropea u fis-snin ta’ wara, irçevejna flejjes kontanti mill-Ewropa u spiççajna li, sena b’sena, irçevejna aktar milli tajna. Is-sitwazzjoni nbidlet meta, b˙ala membri s˙a˙ u stabbiliti tal-Unjoni, il-fondi li kienu se jaslulna kellhom ikunu marbuta ma’ pro©etti li parti minnhom ji©u ffinanzjati minn Malta u l-parti l-o˙ra minn Brussell. Dan fisser li riedu ji©u segwiti l-proçeduri tal-Unjoni li jassiguraw li l-pro©etti jkunu siewja u konformi mal-politika ekonomika u soçjali tal-Ewropa; li fejn jin˙ar©u appalti, dawn ikunu miftu˙a g˙ad-ditti kollha rilevanti Ewropej b’mod ©ust u trasparenti; u li kull nefqa ssir bil-galbu. Hi ˙a©a normali f’dawn iç-çirkostanzi, li – mhux g˙al Malta biss, imma g˙all-membri kollha – il-proçess biex ji©u varati pro©etti u jin˙ar©u l-finanzi me˙tie©a jie˙u Ω-Ωmien: ©ieli ˙afna Ωmien. Fil-kaΩ ta’ Malta, l-envelops ta’ fondi allokati lilna kienu b’mod ©enerali og˙la mill-fondi li kellna n˙allsu b˙ala “miΩata” ta’ s˙ubija. Imma, g˙al sena wara l-o˙ra, l-iΩborΩament tal-istess fondi fuq il-pro©etti mag˙Ωula, u allura l-pro©etti nfushom, bdew jaqg˙u lura. B’hekk fl-a˙˙ar snin spiççajna li qed nibag˙tu aktar fondi lil Brussell milli qed nirçievu. M’hemmx dubju, u fuq


hekk Ωgur jaqbel kul˙add, li din is-sitwazzjoni mhijiex aççettabbli. Tal-anqas, jekk qed nifhem tajjeb iç-çifri dwar il-finanzi tal-gvern li ˙ar©u sa issa, fl-ewwel nofs ta’ din is-sena kien hemm aççellerament sostanzjali fil-fondi li da˙lu. Jalla dan jibqa’ g˙addej. G˙ax na˙seb li tajjeb li nsemmu wkoll sfida o˙ra fit-tmexxija tar-relazzjonijiet tag˙na fi ˙dan l-Unjoni. Din hi li l-amministrazzjoni u t-tmexxija tag˙na mhux dejjem qed ila˙˙qu tajjeb mal-proçeduri u s-sistemi ta’ tmexxija fl-Unjoni. G˙adna kemm semmejna l-˙ru© ta’ fondi fuq pro©etti, li jaqa’ lura. Imma hemm ukoll it-t˙addim tar-regolamenti Ewropej f’Malta. Dawn ikunu da˙lu b˙ala parti mil-li©ijiet u r-regolamenti tag˙na imma f’numru ta’ kaΩi jibqg˙u biss fuq il-karta. Forsi l-akbar problema sa issa kienet meta ©ejna biex nuΩaw fondi tal-Unjoni li jridu jit˙addmu skont çerti kriterji stabbiliti g˙all-Unjoni u wrejna ru˙na inkapaçi li nag˙mlu dan, hekk li tlifna l-fondi. L-aqwa eΩempju se˙˙ sentejn ilu meta flejjes li kellna aççess g˙alihom biex studenti ji©u pprovduti b’boroΩ ta’ studju f’universitajiet Ewropej ©ew ikkançellati. Minn Brussell iddeçidew li l-Ministeru tal-Edukazzjoni ma kienx qed jamministrahom b’mod xieraq.

IL-PIÛ TAL-OBBLIGI

Wie˙ed jistenna li dawn il-problemi jitwittew maΩ-Ωmien, jekk mhux di©à li wara g˙axar snin messhom twittew. Imma g˙alina, min˙abba ç-çokon, tqum problema li ma tistax ti©i injorata. Din hi li l-esi©enzi ssettjati mill-proçeduri u mir-regoli fl-oqsma kollha tal-Unjoni ta’ spiss ipo©©u piΩ qawwi


fuq ir-riΩorsi politiçi u amministrattivi. NibΩa’ li dan qed ji©ri f’˙afna livelli tal-˙idma tag˙na fl-Ewropa, b’çerti oqsma li jispiççaw ta˙t tensjoni akbar mill-o˙rajn. G˙ax lil hinn mill-ekonomija, l-Unjoni Ewropea baqg˙et tifrex il-kompetenzi tag˙ha lejn oqsma dejjem usa’ ta’ tmexxija: fil-qasam soçjali pereΩempju lejn l-edukazzjoni, normi ta’ sa˙˙a, politika dwar il-konsumaturi, ambjent, fost o˙rajn. Fil-qasam tal-©ustizzja u tas-sigurtà, lejn kontrolli komuni fuq passaporti, mudelli jixxiebhu ta’ ©urisprudenza, u kooperazzjoni akbar fis-sigurtà fl-oqsma tad-droga, tal-kuntrabandu u tal-˙asil tal-flus, fost o˙rajn. U l-lista tkompli. G˙al li ©ej, naturalment a˙na obbligati li naddottaw mhux biss dak li ©ie maqbul sa issa, imma dak li g˙ad irid ji©i maqbul fiΩ-Ωmien li ©ej. F’diversi oqsma li mhumiex marbuta mal-ekonomija rajna l-bidliet li da˙lu min˙abba f’hekk. Fil-qasam tal-ambjent, l-aktar bidla li dehret qawwija, taqbel mag˙ha jew ma taqbilx, kienet dwar il-kaçça u l-insib: su©©ett li qanqal u g˙adu jqanqal polemiki kbar kemm fost il-Maltin u kemm fost l-Ewropej. Fil-qasam tal-ivvja©©ar, rajna l-bidla li biha l-Maltin u l-G˙awdxin jistg˙u jsiefru f’pajjiΩi tal-Unjoni bl-uΩu biss ta’ karta tal-identità Maltija valida u b’polza li tassigurahom minn kura medika xierqa b˙al taç-çittadini tal-post fejn ikunu, jekk jinqalg˙alhom xi g˙aw©. Fil-qasam tal-immigrazzjoni, forsi l-aktar wie˙ed spluΩiv, qed naffaççjaw impenji u esi©enzi li qed jo˙olqu tensjonijiet finanzjarji u soçjali qawwija. Dan hu settur fejn it-t˙addim ta’ politika Ewropea qed jin˙ass popolarment, b˙ala l-aktar wie˙ed li qed ikollu effetti negattivi u in©usti fuq Malta. U jekk se ner©g˙u nsemmu l-qasam kummerçjali u dak tal-impjiegi, kellna u g˙ad g˙andna l-kaΩ tal-Air Malta. Biex


il-gvern jid˙ol ˙alli j˙ares lil dil-kumpanija mitqiesa b˙ala essenzjali g˙al pajjiΩna mill-falliment, kellu jinnegozja mal-Kummissjoni Ewropea. Kellu j©ib il-qbil tag˙ha g˙ax hi riedet tassigura li l-miΩuri li l-gvern jie˙u se jkunu konformi mar-regolamenti Ewropej dwar kif jistg˙u jing˙ataw l-hekk imsej˙a g˙ajnuniet jew sussidji tal-istat. Ta’ min ukoll isemmi dawk l-oqsma, l-aktar ambjentali, fejn jidher li aççettajna çerti obbligi ming˙ajr ma konna çerti li nistg˙u nwettquhom. G˙andna pereΩempju l-obbligi dwar il-persenta©© ta’ sorsi ta’ ener©ija li ti©©edded li rridu nibdew in˙addmu sas-sena �0�0; hu dubjuΩ kemm se jirnexxilna nil˙qu l-miri ssettjati g˙alina. (L-istess ˙a©a rajnieha ti©ri dwar l-uΩu tal-power station tal-Marsa.) Matul is-snin, bqajna nisimg˙u ˙afna diskors dwar l-

L-immigrazzjoni: It-t˙addim ta’ politika Ewropea qed jin˙ass in©ust fuq Malta.


imtie˙en tar-ri˙ u l-pannelli solari g˙all-ener©ija li ti©©edded. Imma fil-prattika bqajna lura bil-kbir milli nwettqu xi ˙a©a li kienet adatta u vijabbli g˙aç-çirkostanzi ta’ pajjiΩna. U ˙add ma staqsa jekk attwalment, fl-istat tat-teknolo©ija eΩistenti, teΩistix soluzzjoni adatta u vijabbli! F’dan kollu nemmen li g˙ad baqa’ ˙afna xi jsir biex Malta ttejjeb il-mod kif tippjana, t˙ejji u twettaq il-˙idma tag˙ha fl-Unjoni. Nemmen ukoll li l-gvern ©did, li jidher li po©©a din il-˙a©a b˙ala wa˙da mill-prijoritajiet tieg˙u, se jkun qieg˙ed jag˙mel progress sostanzjali fi Ωmien qasir.

L-ISTESS MUNITA

Sadattant, f’rendikont b˙al dan li qed nag˙mlu, ma nistg˙ux ma n˙arsux lejn kapitlu ie˙or kbir tas-sehem Malti fl-Ewropa, ji©ifieri l-parteçipazzjoni tag˙na fiΩ-Ωona ewro. G˙aç-çittadini, forsi hawn ©rat l-akbar bidla li jag˙rfu b˙ala parti essenzjali mill-˙ajja tag˙hom ta’ kuljum. Minflok bil-lira Maltija, iç-çittadini Maltin, sa mill-�008, bdew jag˙mlu x-xiri u l-bejg˙ tag˙hom bl-ewro, li setg˙u je˙duh mag˙hom fil-pajjiΩi taΩ-Ωona ewro u jkomplu jixtru u jbig˙u bih. Bl-istess mod in-negozji li jbig˙u u jixtru miΩ-Ωona tal-ewro setg˙u jibdew jixtru materja prima u jbig˙u prodotti lesti, bil-munita li kienu juΩaw g˙at-transazzjonijiet normali tag˙hom. Dawn kollha tqiesu bir-ra©un b˙ala vanta©©i. Surveys li saru ma’ negozji Maltin u G˙awdxin jirre©istraw fosthom sodisfazzjon li jistg˙u joperaw permezz tal-ewro. Madankollu, mil-lat ta’ kif morna b˙ala pajjiΩ bl-ewro, ir-riΩultati huma ̇ afna aktar imçajpra. Kien jintqal li, permezz tal-ewro, l-ekonomija tag˙na se ssir aktar kompetittiva u se ti©bed lejha aktar xog˙ol u investiment. Dan ma ©arax.


IΩ-Ωona tal-ewro nnifisha ttie˙det mill-kriΩi finanzjarja tal-�007/�008 u g˙adha qed tirpilja minnha bil-mod. PajjiΩi membri taΩ-Ωona l-aktar fis-sud tal-Ewropa ffaççjaw kriΩijiet finanzjarji kbar u infettaw lil xulxin. Hawn m’g˙andniex il-˙in biex nid˙lu fid-dettalji ta’ li ©ara imma r-realtà kienet din: il-membri taΩ-Ωona ewro baqg˙u jΩommu kontroll fuq il-politika ekonomika tag˙hom, mentri suppost li biex issaltan munita wa˙da fuq medda ta’ art, irid ikun hemm politika ekonomika wa˙da li tapplika kullimkien fiha. Biex jikkompensaw g˙al dan-nuqqas, il-pajjiΩi tal-ewro kienu ftiehmu fuq patt bejniethom li bih kellhom josservaw l-istess regoli ta’ tmexxija ekonomika. KwaΩi kollha kisru dan il-patt. Sadattant, il-fatt li kollha kellhom l-istess munita, g˙al xi Ωmien, ippermetta lill-pajjiΩi dg˙ajfa biex jissellfu u jonfqu daqs il-pajjiΩi qawwija taΩ-Ωona. Meta faqqg˙et il-kriΩi, il-pajjiΩi d-dg˙ajfa ma setg˙ux jifil˙u l-piΩ tad-djun u l-img˙axijiet li kienu tellg˙u. Issa regola o˙ra li kellhom il-pajjiΩi taΩ-Ωona ewro meta da˙˙lu bejniethom l-istess munita kienet li kull pajjiΩ irid isolvi hu, u malajr kemm jista’ jkun, il-problemi ekonomiçi u finanzjarji tieg˙u. G˙all-bidu, meta l-Greçja nqabdet fil-kriΩi, beda jintqal li din trid wa˙idha tie˙u l-passi me˙tie©a biex tirkupra. Meta beda jidher çar li l-Greçja se tfalli, imbag˙ad tfaççaw il-problemi tal-Irlanda u l-Portugall, warajhom ta’ Spanja u Çipru, b’konsegwenzi diΩastruΩi g˙aΩ-Ωona ewro kollha kemm hi, l-ewwel sar qbil biex kull pajjiΩ membru jsellef il-flus lill-Greçja. Imbag˙ad bdew jitwaqqfu fondi speçjali ffinanzjati mill-pajjiΩi tal-ewro biex ikunu jistg˙u jg˙inu lill-pajjiΩi f’diffikultà. Ukoll, fuq insistenza tal-Ìermanja, idda˙˙lu miΩuri tassattivi dwar kif il-gvernijiet taΩ-Ωona setg˙u j˙ejju l-ba©its


tag˙hom. Aktar minn hekk, bdew jinbnew regolamenti o˙ra stretti biex jassiguraw li l-operat tal-banek Ewropej ikun sorveljat minn organu çentrali Ewropew. Dawn il-miΩuri kollha u o˙rajn b˙alhom qed ifissru li t-tmexxija taΩ-Ωona ewro qed issir dejjem aktar çentralizzata. Effettivament qed titnaqqar bil-kbir is-sovranità ekonomika u finanzjarja tal-pajjiΩi membri. Ninsabu fit-triq ta’ binja federali fl-Ewropa.

EKONOMIJA B’ÛEWÌ SAFFI

B˙ala membru taΩ-Ωona ewro, Malta qablet mal-miΩuri kollha me˙uda u qed ikollha tosservahom. Tat u qed tag˙ti kontribut attiv fl-iffinanzjar tal-fondi u s-self li bihom iΩ-Ωona ewro qed tfittex li ssostni lill-pajjiΩi fi kriΩi. Il-kontribut tag˙na ta’ issa, f’self u garanziji, ila˙˙aq il-livell ta’ xi biljun u mitejn miljun ewro. G˙all-pajjiΩi l-o˙ra, din mhix çifra ta’ barra minn hawn. Huma qed ikollhom jo˙or©u ˙afna aktar. Imma ras g˙al ras u b’paragun mad-daqs ekonomiku tag˙na, l-impenn Malti hu fost l-og˙la taΩ-Ωona ewro. L-ironija f’dil-˙a©a hi li, qatt qabel, bil-lira Maltija b˙ala l-munita tag˙ha jew bil-lira sterlina, Malta ma kellha g˙alfejn tid˙ol g˙al kwalunkwe impenn finanzjarju biex tiddefendi l-munita tag˙ha. Tqum il-mistoqsija: g˙aliex sa issa Malta Ωgiççat mill-kriΩijiet li faqqg˙u fil-pajjiΩi sud taΩ-Ωona ewro? B˙all-biçça l-kbira minnhom, m’a˙niex nistrie˙u ˙afna fuq is-servizzi, l-aktar finanzjarji, biex inΩommu r-rankatura ekonomika? Ra©uni g˙aliex evitajna l-gwaj kienet li s-settur tas-servizzi finanzjarji ta’ Malta ma involviex fih il-banek u l-istituzzjonijiet finanzjarji l-o˙ra lokali. Ter©a’, il-mudell li t˙addem sa issa fit-t˙ajjir tas-servizzi finanzjarji baqa’ prudenti ˙afna, anki jekk illum l-assi ta’ banek u


istituzzjonijiet finanzjarji o˙ra barranin stabbiliti f’pajjiΩna jla˙˙qu xi tmien darbiet id-daqs tal-ekonomija Maltija kollha. Imma g˙ax teΩisti separazzjoni bejn banek lokali u banek barranin, anki jekk lil tal-a˙˙ar ji©rilhom xi deni, l-effett negattiv fuq il-bqija tal-ekonomija g˙andu jkun relattivament çkejken. Ter©a’, f’kollox u ma’ kollox, l-ekonomija Maltija baqg˙et timmarka tkabbir modest. It-tkabbir tal-oqsma finanzjarji, tal-im˙atri bl-internet u dan l-a˙˙ar mill-©did tat-turiΩmu, ikkompensaw g˙all-problemi tal-manifattura, tal-bini u tal-oqsma tradizzjonali l-o˙ra. Dan m’g˙andux inessina l-punt li f’pajjiΩna g˙adna lura milli nil˙qu l-a˙jar livelli Ewropej f’dak li g˙andu x’jaqsam mal-uΩu tar-riΩorsi, speçjalment ta’ dak li nsej˙ulu l-aqwa riΩors tag˙na – l-istess ̇ addiema tag˙na. Ir-rata tal-parteçipazzjoni tal-poplu Malti fid-dinja tax-xog˙ol g˙adha fost l-aktar baxxi fl-Ewropa. Is-sehem tag˙na fl-Ewropa sa issa g˙ad ma kellu l-ebda impatt sostanzjali fuq dil-˙a©a. Fil-fatt konkluΩjoni personali tieg˙i dwar fejn ninsabu b˙alissa hi din: Waqt li l-ekonomija tag˙na baqg˙et fil-wiçç u ekonomiji o˙ra g˙erqu, is-s˙ubija tag˙na fl-Unjoni Ewropea u l-iΩvilupp tas-setturi finanzjarji u tal-im˙atri bl-internet g˙enu biex tin˙oloq fostna soçjetà b’Ωew© saffi. G˙andna saff ta’ impriΩi u nies li sejrin tajjeb g˙al tajjeb ˙afna. U g˙andna saff ie˙or, ta’ impriΩi u ta’ nies (parti sostanzjali fosthom mill-klassi tan-nofs) li jew sejrin lura jew sejrin ˙aΩin, kemm ekonomikament u kemm soçjalment. Dan l-iΩvilupp jin˙eba tajjeb g˙al ˙afna ra©unijiet. Fosthom hemm ir-ra©uni li, imqabbla mal-bqija tal-Ewropa, ma©©oranza sostanzjali tal-poplu g˙adha b’aspirazzjonijiet

Malta fil-qafas tal-Unjoni Ewropea u tal-ewro 4�1

relattivament baxxi. Ra©uni o˙ra hi li l-ekonomija sewda g˙adha importanti ̇ afna fostna. Imma mhux ta’ b’xejn li, fl-a˙˙ar ftit snin, in-numru ta’ persuni li, skont kejl Ewropew, instabu f’riskju ta’ faqar Ωdied b’rata allarmanti. Nammetti li hemm min jikkontesta dawn il-konkluΩjonijiet, kif ukoll konkluΩjoni o˙ra li semmejt dan l-a˙˙ar dwar kif xi 30 fil-mija tal-poplu qed jibbenefikaw sew mis-s˙ubija ta’ Malta fl-Unjoni Ewropea, l-o˙rajn le. Çertament li ˙a©a b˙al din, jekk jinΩammu kriterji xjentifikament serji, tista’ ti©i vverifikata bi st˙arri© fattwali. Il-kurjuΩa hi li ftit li xejn intwera interess konkret f’din il-linja ta’ riçerka, lanqas min-nies li Ωgur jinsabu fost dawk li marru tajjeb min˙abba l-kuntratti ta’ konsulenzi fuq l-Ewropa li ng˙ataw mill-gvern preçedenti. G˙ax fl-a˙˙ar mill-a˙˙ar vanta©© tas-s˙ubija ta’ Malta fl-Unjoni Ewropea hu – jew missu jkun – dak li jag˙tina aççess g˙al paraguni fattwali bejn ir-riΩultati ekonomiçi u soçjali li niksbu a˙na, u dawk miksuba mis-s˙ab tag˙na fl-Unjoni Ewropea, u aktar u aktar fiΩ-Ωona tal-ewro. Jekk fl-oqsma edukattivi, tal-impjiegi tekniçi, tal-produttività u o˙rajn insibu li qeg˙din ta˙t il-livelli tal-medja Ewropea, dan g˙andu jservi biex jixprunana ˙alli ntejbu l-isforzi tag˙na ta’ Ωvilupp. Biex nag˙laq, tajjeb li nislet minn dan kollu xi konkluΩjonijiet.

KONKLUÛJONIJIET

Fuq kollox, mhux il-kaΩ li noqog˙du nirxuxtaw il-kontroversji ta’ snin ilu, dwar jekk Malta g˙andhiex tkun fl-Unjoni Ewropea jew le. Il-poplu Malti g˙aΩel u x-xog˙ol tag˙na hu dak li niksbu l-a˙jar riΩultati possibbli mid-


deçiΩjoni tieg˙u. Imma biex nag˙mlu dan, ikun siewi li jkollna studju wiesa’, serju u o©©ettiv, dwar fejn wasalna sa issa fis-s˙ubija ta’ Malta: forma ta’audit jekk trid, li jsir minn persuni li ma jkollhom l-ebda interess vestit. It-tieni, nemmen li rridu nissettjaw b˙ala mira li l-vanta©©i ekonomiçi u soçjali tas-sehem tag˙na fl-Ewropa jkunu mqassma a˙jar fost is-saffi differenti tal-poplu, u l-istess: li l-piΩijiet jitqassmu b’mod ©ust fost kul˙add. Ma jidhirlix li dan qed ji©ri b˙alissa. U g˙alhekk issib diver©enza kbira fost il-poplu: bejn dawk li mill-esperjenza tag˙hom isostnu bil-qawwa li kollox juri kif ninsabu tajjeb u f’postna llum; u dawk li bl-istess qawwa jinsistu li d-d˙ul ta’ Malta kien l-akbar Ωball. It-tielet, nifhem li g˙andha tkun prijorità g˙al Malta u g˙al pajjiΩi o˙ra fost iΩ-Ωg˙ar fl-Ewropa, li jirreΩistu kemm jistg˙u g˙at-tendenza li l-miΩuri Ewropej li jittie˙du jitfasslu skont il-prinçipju ta’ “one size fits all” – ji©ifieri, li l-istess mudell irid japplika g˙al kul˙add l-istess, tkun il-Ìermanja jew Çipru. Minn Brussell jintqal li dan ma ji©rix imma fil-fatt mhux hekk, kif turi bl-aktar mod lampanti l-politika Ewropea dwar l-immigrazzjoni irregolari. Fl-istanzi kollha fejn Malta hi rappreΩentata, g˙andna b’mod assidwu u determinat niflu kull proposta biex naraw kemm tg˙odd g˙alina, u fejn ma tg˙oddx nag˙mlu minn kollox biex niΩguraw li ti©i mibdula f’sens li jg˙odd g˙alina. U r-raba’, bl-istess mod, irridu nkunu attenti g˙at-tifsira taç-çaqliq li qed jikber lejn aktar federaliΩmu fl-Ewropa. Waqt li dan hu spjegabbli min˙abba l-kriΩijiet li g˙addiet minnhom iΩ-Ωona ewro, se jispiçça jkompli jnaqqar is-sovranità tan-nazzjonijiet Ewropej. Fil-fehma tieg˙i, se jmur kontra l-ispirtu u l-identità tal-Ewropa, mag˙mula kif inhi u kif dejjem kienet, minn nazzjonijiet. Barra minn

Malta fil-qafas tal-Unjoni Ewropea u tal-ewro 4�3

hekk, jidher li l-federaliΩmu m’g˙andux b˙alissa le©ittimità politika, g˙ax ma jaqblux mieg˙u ma©©oranzi kbar ta’ Ewropej fl-istati membri tal-Unjoni. Il-˙ames, hemm bΩonn li jkomplu jissa˙˙u l-istrutturi politiçi u amministrattivi li minn Malta jmexxu r-relazzjonijiet tag˙na fl-Ewropa. Dan g˙andu jsir b’mod professjonali u sostnut u g˙andu ji©bor mieg˙u u fih, l-elementi kollha tas-soçjetà çivili li g˙andhom kontribut x’jag˙tu. Mira ewlenija g˙andha tkun li xejn minn dak li hu dovut lejn Malta ma jintilef jew ji©i sparpaljat, b˙alma b’xorti ˙aΩina ©ieli ©ara. Ninsab konvint li l-gvern ©did di©à telaq f’din it-triq u di©à qed jag˙mel progress.

IT-TIELET FAÛI

Ninsabu de˙lin f’faΩi ©dida ta’ kif jiΩviluppaw ir-rabtiet Ewropej ta’ Malta. G˙addejna mill-ewwel faΩi ta’ kontroversja dwar x’g˙andha tkun it-triq ’il quddiem u l-poplu ddeçieda. Wasalna fi tmiem it-tieni faΩi, Ωmien ta’ bidla kbira mad-dinja kollha, li matulha l-poplu Malti g˙adda mill-esperjenza ta’ Malta fl-Unjoni Ewropea u seta’ jasal g˙all-konkluΩjonijiet tieg˙u dwar x’©arrab g˙all-a˙jar u g˙all-ag˙ar. U qeg˙din fil-bidu tat-tielet faΩi, li matulha x’aktarx li se jer©g˙u jse˙˙u bidliet kbar fid-dinja ta’ madwarna. Matul din il-faΩi, il-poplu Malti jrid i˙addem it-talenti u l-˙e©©a tieg˙u biex, fir-rabta Ewropea u minnha, jislet l-aqwa riΩultati, skont il-mezzi tieg˙u, g˙all-©enerazzjonijiet tal-lum u ta’ g˙ada. Irridu na˙dmu bla waqfien biex nassiguraw ru˙na mill-vanta©©i kollha li Malta tista’ tie˙u bis-sehem tag˙ha


fl-Ewropa u nassiguraw ukoll li dawn il-benefiççji jkunu japplikaw b’mod ©ust u ugwali g˙all-Maltin u l-G˙awdxin kollha. Irridu nistinkaw biex, fejn hemm Ωvanta©©i g˙alina li jo˙or©u mill-parteçipazzjoni Ewropea tag˙na, dawn ji©u kontrollati u kemm jista’ jkun imtaffija. Waqt li nag˙mlu dan, irridu nag˙tu l-kontribut tag˙na biex l-Ewropa, bil-valuri tag˙ha li huma l-valuri tag˙na, tkun fuklar ta’ prosperità u ©ustizzja soçjali, ta’ paçi u ˙niena, ta’ libertà u tolleranza li jservi ta’ eΩempju lill-bqija tad-dinja.

(Diskors fil-Workers’ Memorial Building, Valletta, 14 ta’ Settembru

2013)

G˙all-˙arsien tal-impjiegi, l-ewro jrid isir soçjali 4�5

34

GÓALL-ÓARSIEN TAL-IMPJIEGI, L-EWRO JRID ISIR SOÇJALI

X’ta˙seb dwar l-ammont ta’ qg˙ad fl-Ewropa, l-aççess g˙all-fondi u l-populiΩmu li qed jhedded is-suq wie˙ed Ewropew? Kif tarah li se jiΩviluppa s-suq wie˙ed Ewropew (“European single market”) fi Ωmien g˙axar snin?

Il-problema tal-qg˙ad fl-Ewropa hi l-aktar wa˙da kruçjali li g˙andna quddiemna b˙alissa. Li nirreduçuha b˙ala sfida f’konfront mal-populiΩmu naraha twe©iba dg˙ajfa. Irridu naffaççjaw b˙ala stat ta’ fatt li hemm qg˙ad inkwetanti u li jidher li kwaΩi qed isir endemiku. Allura hemm bΩonn li ji©i mitqies b˙ala l-problema kruçjali. Is-suq wie˙ed Ewropew hu kisba effettiva u siewja fil-mixja lejn koordinament akbar tan-nazzjonijiet Ewropej, imma dak li nqala’ fl-a˙˙ar snin juri li s-suq wie˙ed Ewropew, jew is-“single market”, ma jistax jibqa’ jitmexxa biss skont il-prinçipji tan-neoliberaliΩmu.

4�5


Il-qg˙ad fl-UE la˙aq 12.1 fil-mija f’Lulju ta’ din sena, fejn pajjiΩi b˙all-Greçja u Spanja qeg˙din jesperjenzaw qg˙ad ta’ 27.6 fil-mija u 26.3 fil-mija rispettivament. X’ta˙seb li g˙andu jsir sabiex il-qg˙ad fi ˙dan l-UE jonqos u jin˙olqu iktar postijiet ta’ xog˙ol? Xi prinçipji g˙andhom jintuΩaw jew jinbidlu?

Ner©a’ ng˙id, il-prinçipju ta’ suq wie˙ed fl-Ewropa hu wie˙ed li jag˙mel sens. Il-mistoqsija hi kif l-a˙jar jitmexxa dan is-suq, skont liema prinçipji. Il-prinçipji se jkunu bbaΩati fuq li s-suq ̇ ieles ikun ikkunsidrat b˙ala sagru ta˙t iç-çirkostanzi kollha? Li l-profitt jew it-tkabbir ekonomiku huma l-aqwa kejl ta’ kif is-suq wie˙ed jitmexxa? Óafna nies jemmnu li dan hu ˙aΩin. Mentri kejl ewlieni, forsi l-uniku kejl, g˙andu jkun il-˙olqien ta’ impjiegi u s-sostenn tag˙hom. Hawn fl-a˙˙ar g˙axar, g˙oxrin sena, ir-riΩultati ma kinux tajba fl-Ewropa. U allura wie˙ed g˙andu jara g˙aliex dan ©ara. Jissemmew il-problemi tal-ewro u l-problemi finanzjarji tal-gvernijiet ikkawzati mill-˙ala li ̇ allew tid˙ol. Imma forsi dan ©ara g˙ax it-tmexxija tas-suq wie˙ed Ewropew g˙al numru ta’ snin mhux talli ppermettiet li dan ji©ri, imma talli kejlet is-suççess permezz tar-riga tal-profitti u tat-tkabbir ekonomiku, fejn l-aspett kwalitattiv ma tqiesx. Imbag˙ad wasalna g˙all-konsegwenzi li nafu bihom. Forsi rridu nirriflettu dwar jekk ir-rwol tal-gvernijiet t˙alliex imajna wisq, mhux l-anqas fil-qasam tal-investimenti diretti mill-gvernijiet infushom, u dan bl-g˙ajta tal-privatizzazzjoni. Forsi kien hemm bΩonn ta’ aktar attenzjoni g˙all-kontrolli fuq banek u istituzzjonijiet finanzjarji, anki jekk b’hekk ir-regoli tas-suq ˙ieles setg˙u ji©u mnaqqra. U l-


istess g˙all-fenomenu tad-de-industrijalizzazzjoni li t˙alla ji©ri, waqt li baqa’ jnaqqas il-kapaçità tal-Ewropa biex tkun flessibbli fl-investimenti u fl-istrate©iji tan-negozju tag˙ha.

La semmejna l-munita tal-ewro, ta˙seb li din hi inkompatibbli mal-˙olqien ta’ xog˙ol? Jekk iva, g˙aliex?

DaΩgur li l-munita tal-ewro mhijiex inkompatibbli mal-˙olqien ta’ xog˙ol. Fit-teorija kellha sservi biex tistimula l-˙olqien tax-xog˙ol. Imma l-ewro ̇ te©ilha tkun akkumpanjata minn strutturi ta’ tmexxija ekonomika fuq baΩi kontinentali li ma dda˙˙lux, g˙al ra©unijiet ovvji – g˙ax politikament ma kinux aççettabbli g˙ad-demokraziji Ewropej. Allura ©ara li l-istrutturi tal-ewro ma kinux f’qag˙da li jilqg˙u g˙at-tweg˙ir tal-kriΩi kbira li faqqg˙et fl-�007/�008. Aktar minn hekk, l-istess strutturi tal-ewro inkora©©ixxew laxkezzi akbar fit-tmexxija ekonomika tal-pajjiΩi differenti Ewropej. B’hekk l-ewro bin-nuqqasijiet strutturali tieg˙u wassal biex skattaw u sostnew ru˙hom il-problemi tal-qg˙ad li l-aktar li qed jattakkaw hu liΩ-Ωg˙aΩag˙ Ewropej, imma mhux lilhom biss. Issa sfortunatament ninsabu quddiem sitwazzjoni fejn, biex il-problemi strutturali tal-ewro ji©u llapazzati, qed nibnu sdieri ta’ kontroll fuq kif il-gvernijiet jissettjaw il-ba©its tag˙hom. Dawn il-kontrolli se jkomplu jipparalizzaw il-˙ila tal-gvernijiet Ewropej biex fis-suq wie˙ed ikunu proattivi fil-˙olqien tax-xog˙ol. Minn hawn ©ejja problema fondamentali: nemmen li jekk il-gvernijiet ma jkunux proattivi fil-˙olqien tax-xog˙ol, u dan mhux biss billi jistimolaw il-˙idma neçessarja u me˙tie©a tas-settur privat, ©enerazzjonijiet s˙a˙ ta’ Ωg˙aΩag˙ Ewropej se jkunu


kkundannati li jibqg˙u dipendenti u nieqsa minn xog˙ol utli u produttiv. Fil-binja ta’ strutturi li jΩommu Ω-Ωona tal-ewro soda minkejja li m’g˙andhiex g˙odod ekonomiçi çentralizzati, l-isdieri tal-azzar li qed jin˙olqu biex jikkontrollaw il-gvernijiet qed jitfasslu madwar miΩuri stabbiliti ta’ kejl ekonomiku (l-hekk imsej˙a “benchmarks”). Minnhom infushom dawn mhumiex ˙Ωiena, b˙all-˙tie©a li d-defiçit tal-gvern ma jkunx aktar minn 3 fil-mija tal-Prodott Gross Domestiku. Ner©a’ ng˙id, il-“benchmarks” huma utli. Imma ma jistg˙ux jispiççaw forma ta’ fetixx, fejn l-aqwa (hu li nibqg˙u nbaxxu rasna quddiem) in-numri. Quddiem il-pjaga tal-qg˙ad, quddiem in-nuqqas ta’ infrastruttura soçjali f’çerti oqsma, quddiem l-impunità li biha s-servizzi finanzjarji jibqg˙u “jgawdu” akkost ta’ kollox, irid ikun hemm modi o˙ra kif nilqg˙u g˙all-kriΩi tal-impjiegi, u nag˙mlu hekk b’mod ippjanat. Veru, il-kelma “ppjanat” saret anatema fl-a˙˙ar deçennji, forsi g˙ax tag˙ti prijorità lill-impenn politiku u statali aktar minn, jew daqs, l-impenn ekonomiku li min fil-privat jag˙mel il-flus jirranka. Imma jekk l-ewro jibqa’ biss ewro finanzjarju u ekonomiku, fi Ωmien ta’ riçessjoni, u ma jsirx ukoll g˙odda soçjali, Ωona monetarja soçjali, ewro soçjali, wisq nibΩa’ li aktar u aktar nies se j˙ossuhom mi©buda lejn it-tentazzjonijiet perikoluΩi tal-estremiΩmu lemini jew xellugi, u dan fl-ambitu tas-suq wie˙ed Ewropew.

Fid-dawl tal-miΩuri tal-awsterità me˙uda mill-Ìermanja ta˙seb li dawn jag˙mlu s-sitwazzjoni ag˙ar g˙all-˙olqien ta’ xog˙ol?

Il-Ìermanja b’lo©ika impekkabbli qed tinsisti li jekk il-


finanzi tal-pajjiΩi tas-sud ma jer©g˙ux isibu l-bilanç tag˙hom, l-ewro jispiçça kaput. U g˙alhekk qed tinsisti li l-ewwel prijorità hi dik li, akkost ta’ kollox, il-ba©its rispettivi tas-sud ma jibqg˙ux defiçitarji. Dan qed ifisser tnaqqis kbir fis-servizzi soçjali, qed iΩid il-qg˙ad u qed ikompli, tal-anqas fl-a˙˙ar snin, içekken l-ekonomiji tal-pajjiΩi involuti. Fl-istess ˙in, nemmen jien, g˙ax qed nitkellmu dwar suq wie˙ed Ewropew, l-effett qed ikun negattiv anki fuq ekonomiji tal-Ewropa li jinsabu barra miç-çinga vizzjuΩa tal-ekonomiji tas-sud. Il-politika tal-awsterità sa issa ma rnexxietx. Jintqal li rnexxiet fil-Ìermanja meta dda˙˙lu r-riformi tal-Kançillier Schroeder g˙axar snin ilu. Imma bir-rispett kollu, is-sitwazzjonijiet mhumiex komparabbli. F’qag˙da fejn biex l-ekonomiji jin©iebu lura f’bilanç fir-rigward tal-finanzi tal-gvern qed jitkissru s-sistemi nazzjonali ta’ produzzjoni u ta’ distribuzzjoni, waqt li s-sistemi li kienu jsostnu s-solidarjetà soçjali sfaw imminati, il-baΩi g˙al tkabbir fuq medda tat-tul mhux se jkun stabbli biΩΩejjed, anki jekk se jidhru xi elementi li jag˙tuk x’ta˙seb hekk. Se nkunu mexjin lejn sitwazzjoni fejn fiΩ-Ωona ewro u anki fl-Ewropa kollha kemm hi, minkejja s-suq Ewropew wie˙ed, se jkunu rikonoxxuti Ωew© saffi: bejn ekonomiji sinjuri, u ekonomiji batuti. ...U din id-differenza tibqa’ mitqiesa b˙ala li se tippersisti g˙al Ωmien twil, biex ma ng˙idx g˙al dejjem. Dan ma jawgurax tajjeb g˙all-istabbiltà politika fl-Ewropa u lili jdejjaqni bla qies. Ner©a’ nsemmi fejn jinsabu l-problemi: fin-neoliberaliΩmu li jiggwida t-tmexxija tas-suq ˙ieles Ewropew – mag˙qud mal-g˙aΩla ta’ “benchmarks” li minflok linji ta’ gwida saru fetixx li jiddomina kif is-swieq finanzjarji ja©ixxu – mag˙qud ukoll ma’ xi ˙a©a li g˙adni ma semmejtx sa issa, ji©ifieri t-tendenza biex napplikaw


politika li fil-prattika hi “one size fits all”, ji©ifieri li dak li jg˙odd g˙all-Ìermanja g˙andu jg˙odd g˙al Malta jew Çipru kompletament bl-istess mod. Dan kollu qed inaqqas mill-qawwa li messu jag˙ti lill-Ewropa l-˙olqien tas-suq wie˙ed, forsi l-akbar kisba li g˙amlet l-Ewropa sa issa wara l-kisba li minn Ωmien it-Tieni Gwerra Dinjija lil hawn, evitat il-gwerer terribbli li ˙afnuha f’sekli o˙ra. Madankollu s-suq wie˙ed Ewropew ma jistax jirnexxi b˙ala mudell Ewropew jekk iwarrab il-fatt li l-Ewropa hi mag˙mula minn nazzjonijiet li g˙andhom, mhux biss identitajiet u spazji ©eografiçi distinti, imma wkoll kompetenzi tekniçi u kulturali differenti.

Nifhem sew allura li l-UE tkun a˙jar b’mudell inqas federali u aktar konfederali?

Politika ta’ awsterità mfassla skont mudell ri©idu kif applikat fiΩ-Ωona tal-ewro u anki lil hinn minnha mhix qed twassal g˙at-tkabbir ekonomiku li konna nafu bih fi Ωmien meta kien hemm anqas Ewropa, u qed tissagrifika l-futur ta’ wisq u wisq ˙addiema u l-familji tag˙hom.

(Twe©ibiet g˙al mistoqsijiet f’Live Chat fuq l-internet organizzat mill-Kummissjoni Ewropea dwar l-effett tas-suq wie˙ed Ewropew fuq il-popli, 24 ta’ Settembru 2013)

Dwar il-Ìreçja, Çipru u l-Irlanda 431

35

DWAR IL-GREÇJA, ÇIPRUU L-IRLANDA

Kunsiderazzjonijiet differenti jitqajmu fir-rigward tal-Greçja u Çipru, iΩ-Ωew© pajjiΩi taΩ-Ωona ewro li l-aktar qalg˙uha bil-kbir fl-isforzi biex jimlew il-˙ofor finanzjarji tag˙hom. Ing˙ataw self li g˙adu g˙addej mill-Ewropa u mill-Fond Monetarju Internazzjonali biex iΩommu fil-wiçç. Imma qed ikollhom iqaççtu bil-qawwa n-nefqa tal-gvern, ibig˙u kumpaniji u artijiet tal-istat u jnaqqsu s-servizzi soçjali. Kien qed jintqal li l-Greçja waslet biex tirpilja. Imma f’rapport li g˙amlet l-Organizzazzjoni g˙all-Kooperazzjoni u l-IΩvilupp Ekonomiku (OECD), din qalet li x’aktarx mhux hekk. Is-sena d-die˙la, qalet l-OECD, l-ekonomija Griega se ter©a’ tiçkien, mhux tikber kif qed ibassru l-Ewropej. A˙bar ˙aΩina g˙all-Griegi. U kompliet l-Organizzazzjoni g˙all-Kooperazzjoni u l-IΩvilupp Ekonomiku: biex tassew tie˙u r-ru˙, hemm bΩonn li lill-Greçja tin˙afrilha porzjoni o˙ra mid-dejn tag˙ha. A˙bar kerha g˙all-pajjiΩi membri tal-ewro, li ma jridux ja˙fru aktar djun lill-Greçja.

431


Sadattant, f’Çipru qed jistennew b˙all-˙obΩ li f’dax-xahar ta’ Diçembru Ω-Ωona ewro to˙ro©ilhom biçça sostanzjali o˙ra mis-self imwieg˙ed lill-gΩira. Imma mill-Kummissjoni Ewropea u mill-Bank Çentrali Ewropew qed jintqal li Çipru g˙ad baqag˙lu jwettaq u˙ud mill-miΩuri li kienu ftiehmu dwarhom meta ng˙ata s-self. Qabel Çipru jonora l-impenji tieg˙u, il-flejjes mistennija mhumiex se jintbag˙tu.

***

QGÓAD

L-isfond g˙al dan kollu hu s-sitwazzjoni ekonomika fl-Ewropa, mhux l-anqas il-qg˙ad. Hawn qed jinstab fara© fil-punt li, skont l-a˙˙ar statistika tal-Eurostat, tal-anqas il-figura tal-qg˙ad baqg˙et ma Ωdiditx ikkalkolata mal-Unjoni Ewropea kollha kemm hi. Fl-a˙˙ar xhur baqg˙et qrib iç-çifra g˙olja ta’ 1� fil-mija, b’pajjiΩi li g˙andhom persenta©© ˙afna akbar minn hekk, o˙rajn anqas sew. B’kollox hemm mas-�6 miljun u sitt mitt elf qieg˙da fl-Unjoni Ewropea. Aktar inkwetanti ter©a’ hi ç-çifra tal-qg˙ad g˙aΩ-Ωg˙aΩag˙, li baqg˙et tiΩdied. Issa la˙qet persenta©© ta’ �4.4 fil-mija ta’ nies bla xog˙ol fost ir©iel u nisa ta’ anqas minn �5 sena. Mhux ta’ b’xejn li l-ilmenti kontra l-politika ta’ awsterità li baqg˙et tit˙addem fiΩ-Ωona ewro g˙adhom qawwija ˙afna.

***

L-IRLANDA TOÓROÌ MILL-KONTROLLITAÛ-ÛONA TAL-EWRO

Kien hemm sodisfazzjon kbir fi ˙dan il-gvern IrlandiΩ g˙all-fatt li l-Irlanda rnexxielha tne˙˙i l-kontrolli fuq it-

Dwar il-Ìreçja, Çipru u l-Irlanda 433

tmexxija tag˙ha li kienu qed jinΩammu fl-a˙˙ar snin mill-Kummissjoni Ewropea, il-Bank Çentrali Ewropew u l-Fond Monetarju Internazzjonali. Dawn kienu baqg˙u jissorveljaw x’inhu g˙addej fil-finanzi u l-ekonomija tal-pajjiΩ wara li l-Irlanda ng˙atat biljuni ta’ ewro f’self biex tkun tista’ tilqa’ g˙all-˙ofra enormi fil-finanzi tal-gvern hekk kif dan da˙al biex isalva l-banek tal-pajjiΩ meta kkrollaw mal-kriΩi finanzjarja tal-�008. Wara li l-gvern qaççat l-ispejjeΩ, fl-a˙˙ar jidher li l-ba©it tieg˙u re©a’ ©ie ta˙t kontroll. Tant li jista’ jissellef mis-swieq internazzjonali ming˙ajr ma jitolbuh img˙axijiet li ma jkunx jista’ jla˙˙aq mag˙hom. B’hekk, l-Ewropej u l-ekonomisti tal-Fond Monetarju Internazzjonali jinsabu perswaΩi li, g˙al li ©ej, l-Irlanda tista’ tmexxi g˙al rasha waqt li t˙allas lura s-self li ˙ar©ulha fl-a˙˙ar snin. Xorta g˙adhom iwissu li l-gvern IrlandiΩ je˙tie©lu jΩomm prudenza kbira fit-tmexxija tieg˙u. Imma, waqt li l-bankiera u l-uffiçjali huma sodisfatti b’li jinsab g˙addej, il-poplu IrlandiΩ g˙adu qed jaffaççja l-konsegwenzi tal-kriΩi. Il-qg˙ad g˙adu kbir sew waqt li l-qtug˙ li se˙˙ fis-servizzi soçjali g˙adu qed jikkawΩa diffikultajiet kbar fil-˙ajja tal-familji u l-anzjani, l-aktar dawk li g˙andhom d˙ul baxx. Il-problemi tal-faqar Ωdiedu bil-kbir.

(Kummentarji, Smash TV, 3 – 17 ta’ Diçembru 2013)


36

GERMAN SURPLUSES...

Many European countries have caused concern because of their inability to contain deficits in their government budget and to reverse commercial deficits caused by flagging exports and rising imports. The contrary is the case for Germany. Not only is the state budget always in surplus or close to it, but so is its external trade. Because of this, Germany is actually forcing those countries with which it is associated in the euro project to go on rowing against the tide. So, Germany is being increasingly expected to take measures by which to stimulate its imports and government spending. The German government firmly refuses to follow this line and insists that its policies are the correct ones. However it is impossible for all countries involved to simultaneously carry a favourable trade balance. For every country which succeeds in such an aim, there must be some other country which inevitably ends up with a deficit.

(14 November 2013)***

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German surpluses… 435

DEFLATION

So many years were spent moaning about the effects of inflation! They were considered the greatest threat. Price rises would destroy all wealth creation and undermine the welfare of the people; they needed to be damped down. Such an approach was justified but it led to excesses in implementation which triggered unnecessary austerity. Anti-inflation was the watchword to defend the euro and to stay in line with how the International Monetary Fund ran its support programmes for countries in financial difficulties. All of a sudden, bankers and finance ministers are now telling us that a new danger has emerged. Prices are no longer rising – they seem to be declining, sometimes at too fast a rate: it’s deflation! They remind us that it never was the intention to keep prices flat, but to prevent them from rising above a certain annual percentage growth, say � percent. Where does this sudden panic come from? Can deflation be as big a threat as inflation? When people believe that prices will fall further, they buy less in the belief that things will shortly become cheaper. And so economic activity continues to stagnate.

(18 November 2013)

***

TROIKA

The European Parliament is preparing a report on the so-called troika which in the past few years has been monitoring


the governments of Greece, Ireland, Portugal and Cyprus as they implemented their loan agreements with the euro zone to counter the disastrous deficits in their public finances. The troika is made up of officials of the European Commission, the European Central Bank and the International Monetary Fund. It insisted with these countries to introduce austerity measures: employees were fired or had their wages reduced; pensions and social services were scaled down; government firms were closed down or sold off. Thus, they would be “honouring” the conditions of their loan agreements covering billions of euros contracted with the euro zone. However, where did the troika obtain its power to order governments about? According to which guidelines did it act? Who set such guidelines and on what basis? Nowhere do the treaties which established the euro zone mention any troika. This was created by a decision of the “donor” governments concerned to allow them to follow developments regarding the loans issued to countries hit by the crisis. The European Parliament is correct to insist that the troika give an account of its actions up to the present.

(19 December 2013)***

MERKEL’S WORDS

Angela Merkel’s first speech to the Bundestag as head of the new German coalition government focussed on the future of the European Union and the euro zone. It laid down a challenge to other member states of the

German surpluses… 437

Union. Germany will be seeking to open new negotiations for a further change to the treaties which define how the EU functions. There should be an arrangement by which the economic management of Union member countries is centralised on the basis of a contractual agreement, country by country, with the European Commission. If this is done, Merkel stated, Germany would be willing to fork out money to support the development of those European states which lag behind economically. Even France seems not to appreciate this proposal. Many are considering it as another move by which Europe is being redesigned according to a German model. Yet up to now, every German proposal… even if met with disapproval when launched… was somehow adopted in the end. The coming five years will crucially affect how the European Union will shape up in the future.

(23 December 2013)

(Blogs, di-ve, July – December 2013)


37

MALTESE PERSPECTIVES IN EUROPE

The ongoing campaign for elections to the European Parliament is providing an occasion for many to take stock of how Malta has fared during the first 10 years of its membership in the European Union. Personally, as I make house visits, visit public places and participate in fora, I have encountered two contrasting viewpoints. One queries how come I am standing as a candidate, having in the past been “strongly against” Europe. I find this a bit amusing since all along during the EU membership campaign over 10 years ago, I had argued the EU was a good construct, but that the time for Malta’s entry was not then, since burdens would outweigh benefits. Also I had argued that if the people decided for membership in general elections, then democratically this should be accepted as a state of fact. The second attitude is just as intriguing and probably more widespread. It claims that, unfortunately, most of

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Maltese perspectives in Europe 439

what I argued about the consequences of EU membership has been proved correct. The attitude is shared in roughly equal proportions both by those who were pro-membership and those against.

REPOSITION

Both viewpoints are actually less than relevant given the tasks ahead to improve Malta’s stance in Europe. The real challenge now is how best to reposition Malta so that the burdens of membership can be kept within acceptable limits and the benefits maximised. Up to now, despite the propaganda to the contrary, this process has not been adequately managed – that is, if you take the general interest into account, not sectoral concerns. We must adopt a position of constructive realism. Being servile and starry eyed about Europe will continue to be counter-productive. So will dogmatism and negativism. What’s more, we need to correctly situate Maltese concerns against the backdrop of ongoing trends in the EU. All too often, we have understood the significance of these trends very late in the day, without grasping at the right time how they would affect us. The classic case is our participation in the euro zone’s bailout of Greece. It was touted by the previous administration as a profitable opportunity to borrow money on the cheap and onlend them to Greece at a higher interest rate. The exact opposite happened. Too little consideration has been given regarding the way ongoing changes in the EU’s structures will shape up and how they could then affect us. All too often, we start


and end with what we want to achieve, without judging how congruent our aims are with what is emerging in Europe. The repositioning that needs to be carried out should start from a full awareness of Malta’s particular standing in the EU spectrum. Not only is it the smallest state, but it is also an island and situated at the periphery of the continent. This means that one-size-fits-all policies that even when applied on a continental basis create difficulties in particular situations, can create yet more difficulties for us. The point has been ignored time and time again – by Brussels unsurprisingly – but more tellingly in Malta itself.

A STRINGENT TEST

So among others, we have adopted Dublin II provisions regarding the placement of irregular immigrants; accepted renewable energy targets that are wildly unfeasible; applied state aid criteria in the rescue of a national airline that has to fulfill functions quite different to those of other so-called legacy airlines; allocated transport funds from the EU budget to the rebuilding of arterial roads, when non-arterial links should have been the priority; and neglected to implement regional strategies that should have applied to Gozo (because by European standards, it is too tiny). From the Maltese perspective, in the future we should apply a stringent test to whatever we are asked to agree to: as this or that European policy is brought into force, will Malta because of its particular characteristics, slip through the net that safeguards national interests in much European policy-making? Meanwhile, we need to monitor the centralising tendencies that have become stronger


among the policy-making elites of the EU, not least within the kingpins of the system – Germany and France. They have been fuelled by the need to counter the incoherences and weaknesses of the euro zone’s management design. So, new controls on the budgetary processes of member states are inevitably leading to the development of federal structures. These imply centralised economic powers, plus centralised tax gathering and tax harmonisation. Among others, the provision by smaller EU states of financial services to outsiders could become increasingly problematic,

The EU’s one-size-fits-all policies have negatively affected agriculture in Malta.


since such services imply differentiated ways of assessing and collecting tax dues. Federalisation, which is seen as the best and only way by which to guarantee the future stability of the euro zone, will quite likely make one-size-fits-all policies even more stringent. How far that could fit in with Malta’s national interests will be one of the major questions of the coming five years in our dealings within the EU. The big risk for Malta is that it would have to follow rules and procedures set for all that would terribly restrict its flexibility. If there is one thing that a small economy could benefit from it is the flexibility which smallness confers. If our flexibility were to be curtailed further, then truly the burdens of membership would by far outweigh the benefits.

A SPECIFIC MODEL

When we get to this point there are some who ask: Aren’t we all the time expecting that Europe should do this or that for us? On our part, what should we be contributing to Europe? In my view, our contribution should focus on supporting a specific model of European construction. The blueprint for European unity cannot be fashioned according to US or Chinese models. Europe can only exist in its true sense as a Europe of the nations. So, it must find a way of reconciling national sovereignty with a unified continental system that is democratic, flexible, economically effective and socially just. We are still a long way from achieving this goal. Our existence as an independent entity in such a


configuration would provide a living proof that European integration, to be meaningful, must interlock with the maintenance of strong and viable national identities. However, beyond a full commitment to such an objective, I believe that the time has come for us to focus more than ever on national concerns. Naturally, our statutory representation in European institutions is very slim. To believe that we should concentrate the time and opportunities it provides on legislating for Europe is in my view, inadvisable. Rather, what a Maltese presence in the European Parliament and in other EU institutions should concentrate on, is lobbying for Malta.

(The Times, 06 February 2014)


38

IMPORTANTI JEW LE?

It-t˙ejjijiet g˙all-elezzjonijiet tal-Parlament Ewropew qed jissikkaw. B˙as-soltu, it-temi li jiddominaw il-kampanja – kemm f’Malta, kemm barra – huma t-temi lokali. Tiddomina wkoll ansjetà dwar kemm se tkun kbira l-parteçipazzjoni tal-votanti. Min jinsab fil-gvern, jit˙asseb dwar jekk hux se jkun hemm astensjoni kbira b˙ala protesta g˙all-politika li tkun qed ti©i segwita. Min jinsab fl-oppoΩizzjoni jit˙asseb dwar jekk dawk li jag˙tuha l-appo©© humiex se jibqg˙u lura g˙ax isibuha çassa wisq jew ineffettiva. Fuq kollox imma, l-astensjoniΩmu “jitqanqal” l-aktar – jekk l-espressjoni hi tajba f’dan il-qafas – mill-bruda taç-çittadini lejn l-Unjoni Ewropea (jew l-Ewropa kif ta’ spiss titlaqqam fid-diskors popolari). Is-sentiment hu li l-Ewropa tinsab imbieg˙da wisq mill-˙ajja ta’ kuljum taç-çittadini jew inkella, li l-affarijiet li g˙andha x’taqsam mag˙hom huma tekniçi wisq.

BRUDA U IDEALI

Sentiment ie˙or li jmur fl-istess direzzjoni jirrifletti l-fehma li l-Ewropa qieg˙da hemm biex tassigura li l-kumpaniji u l-

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Importanti jew le? 445

bankiera l-kbar jag˙mlu l-a˙jar profitti. Dan ji©ri anki meta l-qg˙ad jibqa’ jiΩdied u l-kundizzjoni soçjali tal-˙addiema u tal-familji tag˙hom tibqa’ te˙Ωien. Hi ˙a©a stramba kif l-ideal tal-Ewropa mag˙quda, li dwaru l-propaganda ma qatg˙et xejn matul is-snin, donnu baqa’ ma kebbisx l-entuΩjaΩmu tal-popli. Donnu baqa’ ideal li ji©bed lil parti biss mis-soçjetà – dik mag˙mula minn saffi tal-poplu li jg˙ixu ˙ajja tajba u aktar minn hekk, jafu wkoll x’g˙andhom jag˙mlu biex mill-Ewropa jie˙du l-a˙jar g˙al ˙ajjithom. Il-˙sieb li l-Ewropa tibbenefika l-aktar lill-membri ta’ elites soçjali mhux wie˙ed im©ebbed, anki jekk ©ieli jitwassal lejn l-esa©erazzjoni. Imma nistg˙u naraw ukoll minn x’ji©ri f’pajjiΩna kif, fost l-aktar nies li tismag˙hom jipprietkaw il-virtujiet u s-sbu˙ijiet ta’ Ewropa mag˙quda, insibu l-istess nies li ˙obΩhom ma˙buΩ: daqqa b˙ala konsulenti dwarha, daqqa b˙ala impjegati tag˙ha, daqqa b˙ala deputati jew kummissarji tag˙ha, daqqa b˙ala propagandisti g˙aliha. U g˙ad-dehra ta’ kul˙add, minn dawn il-˙idmiet, l-istess nies ma jkunux spiççaw ˙afja. Lil hinn mill-fehmiet li qed insemmi, madankollu jqumu l-mistoqsijiet: Apparti mill-bruda, xettiçiΩmu u dubji dwar xi jsir tassew fl-Ewropa, l-elezzjonijiet g˙all-Parlament Ewropew g˙andhom xi importanza reali g˙all-˙ajja futura tal-familji tag˙na? Jew l-importanza tag˙hom to˙ro© mill-fatt sempliçi li jipprovdu konfront politiku bejn gvern u oppoΩizzjoni u spunt g˙all-karrieri politiçi ta’ dan jew dak? Jekk g˙andhom xi importanza, fiex tikkonsisti?

DEÇIÛJONIJIET IMPORTANTI

Na˙seb li huma me˙tie©a twe©ibiet çari u serji g˙al dawn il-mistoqsijiet. Kemm jista’ jkun, it-twe©ibiet iridu jinΩammu


bog˙od mid-diskors tekniku. B’diskors tekniku ΩΩejjed, il-komplikazzjonijiet li jinsabu fit-tmexxija Ewropea jisfaw aktar komplikati u aktar diffiçli biex tifhimhom. Óalli nitfa’ punt fuq quddiem: Fl-Unjoni Ewropea qed jittie˙du deçiΩjonijiet importanti li jaffettwaw il-˙ajja ta’ miljuni u miljuni ta’ familji. A˙na ninsabu membri tal-Unjoni Ewropea u, tajjeb jew ˙aΩin, inwettqu fostna l-politika tal-Unjoni. Hi allura qed taffettwa bil-kbir il-˙ajja tal-famiji Maltin u G˙awdxin ukoll. Óafna g˙adhom ma fehmuhiex dil-˙a©a, imma hemm qieg˙da. Il-poplu Malti ddeçieda li nid˙lu fl-Unjoni Ewropea, u hi qieg˙da taffettwa bil-qawwi l-kundizzjonijiet tal-˙ajja tag˙na. Ma nistg˙ux – u ma jaqblilniex – ninjorawha. Effettivament, ©ieli kulma jsir fil-Parlament Malti hu li ng˙idu iva g˙al dak li jkun di©à ©ie deçiΩ fi Brussell. Nistg˙u nsemmu kaΩi li ©raw u li kul˙add jaf bihom. Fihom jin˙ass l-impatt ta’ deçiΩjonijiet me˙uda fi Brussell. Dwarhom, il-Parlament Malti ftit li xejn kellu sa˙˙a. Dwar il-pensjonijiet, il-gvern Nazzjonalista kellu jibda jibdel il-fasla tag˙hom wara li qalulu jag˙mel hekk minn Brussell. Dwar il-kaçça u l-insib, nafu x’©ara. Fis-salvata©© tal-Air Malta, g˙al kull pass li ˙a, il-gvern Malti kellu l-ewwel i©ib il-permess, mhux tal-Parlament tag˙na, imma ta’ Brussell. Dwar l-immigrazzjoni irregolari, il-gvern Malti sab min jimbuttah lejn na˙a jew o˙ra u min jinsisti li ja©ixxi b’çertu mod waqt li l-interess Malti ma ng˙atax kejl biΩΩejjed – pressjonijiet li kollha ©ew mill-Unjoni Ewropea. Imbag˙ad, dwar il-mod kif il-ba©it tal-gvern ©ie ssettjat g˙all-�01�, il-Parlament Malti ddeçieda mod, u l-gvern kellu jbiddel id-deçiΩjoni wara li qabΩet fuqu l-Kummissjoni Ewropea. L-istorja tkompli. Óadd m’g˙andu jkollu dubju dwar hekk u ta’ min


jirrepeti l-punt: fi ˙dan l-Unjoni Ewropea, qed jittie˙du deçiΩjonijiet importanti g˙alina. Issa, il-mod kif jittie˙du d-deçiΩjonijiet Ewropej mhux wie˙ed sempliçi. Mhux b˙alma ji©ri f’pajjiΩ, tag˙na inkluΩ: ji©ifieri: il-gvern itella’ li©i quddiem il-Parlament u jekk g˙andu l-voti warajh, jg˙addiha. Fl-Unjoni Ewropea, biex tg˙addi “li©i” u mbag˙ad biex tit˙addem, trid titmexxa ˙idma li tinvolvi tliet kolonni ta’ poter politiku.

MHUX WIEÓED SEMPLIÇI

Hemm involut fuq quddiem nett, il-Kunsill tal-Ministri. Hawn ja©ixxu l-gvernijiet membri tal-Unjoni Ewropea kif rappreΩentati mill-Presidenti, Prim Ministri jew Ministri tag˙hom. Imbag˙ad ti©i l-Kummissjoni Ewropea, li ta©ixxi b˙ala l-“gvern” tal-Unjoni Ewropea, billi tmexxi u tiddeçiedi fuq materji (b˙all-biedja u s-sajd fl-Ewropa) li l-pajjiΩi membri ftiehmu bejniethom dwar kif g˙andhom jitmexxew. U hemm il-Parlament Ewropew, b’deputati eletti mill-pajjiΩi kollha tal-Unjoni Ewropea, skont id-daqs tal-pajjiΩi konçernati. Fost affarijiet o˙ra, id-deputati Ewropej jiddiskutu proposti ©odda li jitressqu quddiemhom u jissorveljaw il-˙idma tal-Kummissjoni Ewropea. JeΩistu regoli u proçeduri differenti li jg˙idu kemm huma u kif huma l-poteri ta’ kull wie˙ed minn dawn it-tliet kolonni, u kif jistg˙u jintuΩaw. Jien inqabbel dak li jsir ma’ log˙ba tat-tenis bejn tliet plejers, bil-ballun daqqa jitbandal na˙a, daqqa jitbandal o˙ra minn fuq tliet xbieki, mhux wa˙da. Ter©a’, din il-log˙ba komplikata tkompli ssir aktar im˙awra bil-˙idma ta’ �8 pajjiΩ (sal-lum) li kollha


g˙andhom l-interessi tag˙hom, differenti minn ta’ xulxin. Huma g˙andhom sehem, min kbir, min Ωg˙ir, fil-mod kif it-tliet kolonni ta’ poter li semmejna jiΩviluppaw ˙idmiethom u “jit˙addtu” ma’ xulxin. Naturalment, kull pajjiΩ jara kif jag˙mel biex isostni s-sa˙˙a tieg˙u fi ˙dan kull wie˙ed minn dawn it-tliet kolonni ta’ poter Ewropew.

ÇOKON

Hu minnu li b˙ala l-içken pajjiΩ membru tal-Unjoni Ewropea, Malta ng˙atat l-içken sehem. Fil-Parlament Ewropew ir-rappreΩentanza Maltija hi l-içken li tista’ tkun. Biex inkunu g˙edna kollox, proporzjonalment mal-kobor tal-popolazzjoni tag˙na mqabbel ma’ dak ta’ pajjiΩi o˙ra, g˙andna ras imbras rappreΩentanza parlamentari aqwa minn ta’ pajjiΩi o˙ra. Sadattant, fil-Kummissjoni Ewropea u fil-Kunsill tal-Ministri teorikament, il-vuçi tar-rappreΩentanti tag˙na g˙andha l-istess sa˙˙a b˙al ta’ ˙addie˙or. Fil-prattika mhux hekk. BiΩΩejjed niftakru kif kien ittrattat il-kaΩ tal-Kummissarju Malti John Dalli. Kellu min kellu ra©un f’dak il-kaΩ, kieku Dalli kien Kummissarju ta’ pajjiΩ ie˙or ma kienx ji©i ttrattat kif ©ie ttrattat. Allura dan ifisser li g˙andna nirrinunzjaw g˙as-sehem tag˙na fl-istituzzjonijiet Ewropej, bl-argument li ninsabu mrekkna fil-©enb? Issa jien kont wie˙ed minn dawk li argumentaw fl-img˙oddi li ç-çokon ta’ Malta g˙andu jitqies b˙ala Ωvanta©©, g˙ax iç-çokon tag˙na ftit se jing˙ata qies meta jkunu qed jittie˙du l-aqwa deçiΩjonijiet. Fl-img˙oddi kien hemm min iΩΩuffjetta bl-argument li kont uΩajt, dwar makku u balieni meta l-pajjiΩi Ewropej ikunu qed jiddeçiedu.


Illum, f’konferenza wara l-o˙ra, nisma’ rappreΩentanti tan-negozju jitkellmu kontra l-“one size fits all” – il-metodu li bih fl-Unjoni Ewropea, minkejja li jistqarru kif qed ji©ri bil-maqlub, jitfasslu deçiΩjonijiet fuq mudell wie˙ed. Ir-rappreΩentanti tan-negozju jridu li n-na˙a Maltija tirreΩisti g˙al din il-biçça... g˙alkemm tkellmu ftit tard.

INKUNU BOLOH JEKK...

Kif naraha jien, çkejken kemm hu çkejken is-sehem tag˙na fl-istituzzjonijiet Ewropej, inkunu boloh jekk ma ni˙duhx. U jekk ma nuΩawhx bil-qawwa kollha tieg˙u, çkejkna kemm hi çkejkna. Dan jista’ u g˙andu jsir, l-ewwel billi jkun hemm koordinament s˙i˙ bejn dawk il-˙idmiet Maltin kollha li jsiru fit-tliet pilastri tal-poter politiku Ewropew – il-pilastru fejn jinnegozjaw bejniethom il-gvernijiet fuq livelli differenti: kapijiet tal-gvern u ministri, ambaxxaturi, uffiçjali pubbliçi; il-pilastru tal-Kummissjoni Ewropea; u l-pilastru tal-Parlament Ewropew. Mag˙hom jing˙aqad ukoll is-sehem Malti fil-fora differenti ta’ konsultazzjoni fejn jiltaqg˙u rappreΩentanti tas-soçjetà çivili – kunsilliera lokali, negozjanti, trejdjunjinisti u o˙rajn. Tidhirli b˙ala ˙a©a evidenti li, min˙abba l-istess çokon tag˙na, ikun fl-interess nazzjonali li l-front Malti jibqa’ wie˙ed mag˙qud. Wara dak li ©ara ftit ilu matul il-kontroversja dwar iç-çittadinanza, meta l-OppoΩizzjoni Nazzjonalista uΩat il-preΩenza tag˙ha fil-Parlament Ewropew biex tattakka l-gvern Malti, ma jidhirx li g˙al li ©ej, se nkunu nistg˙u nassumu li dan se jkun possibbli. Allura l-˙arsien tal-interess nazzjonali jista’ jispiçça ˙idma aktar delikata milli messha tkun.


It-tieni mod kif g˙andna nuΩaw is-sehem çkejken tag˙na fl-istituzzjonijiet Ewropej hu billi nfittxu li nΩommu qrib ta’ o˙rajn li g˙andhom interessi li jixbhu lil tag˙na, jew li mag˙na jΩommu ˙biberija politika. Fost l-oqsma fejn il-bini ta’ alleanzi b˙al dawn se jkun kruçjali nsibu l-immigrazzjoni irregolari; pjani biex fiΩ-Ωona ewro tal-anqas jibdew jidda˙˙lu taxxi ©odda; pjani biex jidda˙˙lu aktar kontrolli fuq il-mod kif il-gvernijiet i˙ejju l-ba©its tag˙hom; pjani biex jibda jinbena gvern federali Ewropew; pjani g˙al bidliet fil-pensjonijiet u servizzi soçjali. Forsi fil-biçça l-kbira tag˙hom, dawn jin˙assu b˙ala temi ftit imbieg˙da mill-interess tal-familji. Imma meta toqg˙od tqis lejn fejn jistg˙u jwasslu, issib li jolqtu aspetti ewlenin tal-˙ajja li se tkun qed ting˙ex f’Malta fl-g˙oxrin sena li ©ejja u aktar. Li jwassalni g˙all-konkluΩjoni li iva, l-elezzjonijiet tal-Parlament Ewropew se jkunu importanti – u ˙afna aktar milli ja˙sbu dawk li jippreferu jinjorawhom jew li jridu juΩawhom biex jag˙tu xi tbeΩbiΩa lil dak jew lill-ie˙or. Li ma tivvotax hu mod kif tivvota. L-g˙aΩliet politiçi li l-votanti jag˙mlu bejn il-partiti u l-kandidati tag˙hom jibqg˙u kruçjali. Fil-˙ames snin li ©ejjin, fl-isforz li jrid isir biex iΩ-Ωona ewro tissa˙˙a˙, se tkun kbira l-pressjoni mill-Ìermanja u o˙rajn biex mal-Ewropa l-istrutturi çentralizzati ta’ poter u deçiΩjoni jing˙ataw aktar qawwa u jie˙du aktar mis-sovranità tal-pajjiΩi membri.

REALIÛMU ÌDID

Hemm forzi Maltin li ma jaraw l-ebda problema jekk ji©ri hekk. X’aktarx issibhom fost dawk li dejjem marru tajjeb


mill-Ewropa g˙al ra©uni jew o˙ra, u jippreferu jibqg˙u jg˙idu sinjur si g˙al kulma jg˙idulhom il-“kbar”. Mentri wasal iΩ-Ωmien g˙al realiΩmu akbar fil-mod kif il-poplu Malti japprezza u j˙addem ir-rwol Ewropew tieg˙u, g˙alih innifsu u g˙all-bqija tal-Ewropa. Wasal iΩ-Ωmien li nirripoΩizzjonaw lil Malta fi ˙dan l-Ewropa b’mod li tassew nil˙qu Ωew© g˙anijiet: dak li nie˙du l-aqwa li nistg˙u mill-vanta©©i li toffri s-s˙ubija u nassiguraw li l-benefiççji tag˙ha jitqassmu b’mod ©ust fost il-poplu; u dak li nillimitaw kemm nistg˙u l-piΩijiet u anki hawn, niΩguraw li jitqassmu b’mod ©ust. Meta tibqa’ lura milli tivvota fil-Parlament Ewropew, x’aktarx li tkun qieg˙ed issa˙˙a˙ lil dawk fostna li jippreferu li nkomplu bis-sinjur si. G˙alhekk ukoll li l-elezzjonijiet g˙all-Parlament Ewropew se jkunu importanti.



39

TEMI EWLENIN

Waqt li joqorbu l-elezzjonijiet g˙all-Parlament Ewropew fil-pajjiΩi membri tal-Unjoni Ewropea, ˙ar©u sew issa t-temi ewlenin li fuqhom il-kampanji se jippernjaw. It-temi jmorru lil hinn mill-hekk imsej˙a partiti Ewropej li, mil-lemin u mix-xellug, jg˙aqqdu flimkien il-partiti nazzjonali tal-pajjiΩi rispettivi. Fil-verità, fi ˙dan il-partiti “Ewropej”, jeΩistu differenzi kbar ta’ apprezzament u anki ©ieli ta’ ideolo©ija, li jifirdu membri tal-istess partiti anki fuq it-temi ewlenin tal-kampanja.

AWSTERITÀ

Fuq quddiem nett, insibu t-tema tal-awsterità – il-politika li biha fiΩ-Ωona ewro u fl-Unjoni Ewropea kollha kemm hi, il-gvernijiet qed jilqg˙u g˙all-˙ofor finanzjarji li kibru fil-finanzi pubbliçi. Min˙abba l-awsterità u l-ekonomiji li ©©ib mag˙ha fl-ispiΩa tal-gvernijiet, il-qg˙ad fl-Ewropa baqa’ g˙oli. Miljuni ta’ ˙addiema u l-familji tag˙hom raw l-istandards tal-g˙ajxien tag˙hom je˙Ωienu. Min jg˙id li dan ©ara g˙ax

45�

Temi ewlenin 453

gvernijiet tal-img˙oddi kienu ˙alja wisq u sakemm il-finanzi pubbliçi ma jitnaddfux g˙alkollox, ma hemmx çans li l-qag˙da titjieb. U min isostni li l-politika ta’ awsterità, minflok ittejjeb il-qag˙da, qed tag˙milha ag˙ar. O˙rajn jg˙idu li s-suq wie˙ed Ewropew hu nnifsu ˙ati tal-fatt li l-awsterità mhijiex tirnexxi. Dan g˙ax il-gvernijiet m’g˙adx g˙andhom is-sa˙˙a me˙tie©a biex jo˙olqu impjiegi ©odda. Kulma jistg˙u jag˙mlu hu li jissikkaw iç-çinturin. Problema f’dan kollu hi li l-ekonomija tal-Ewropa ilha sta©nata s-snin issa. L-ebda partit fit-tellieqa g˙all-Parlament Ewropew mhu jistqarr li g˙andu xi soluzzjoni ma©ika g˙all-problema tal-ista©nar.

ANQAS JEW AKTAR EWROPA

Il-mistoqsija dwar jekk g˙andux ikun hemm anqas jew aktar Ewropa hi kwistjoni li titniffed ma’ kull tema o˙ra. Forsi din hi l-ewwel elezzjoni tal-Parlament Ewropew fejn dawk li s-soltu dejjem issibhom jipprietkaw favur aktar Ewropa, jinsabu fuq id-difensiva. L-argument tag˙hom hu li aktar mal-pajjiΩi Ewropej jing˙aqdu flimkien, aktar jissa˙˙u; allura hemm bΩonn ta’ aktar Ewropa. Biss wara snin ta’ sta©nar u riçessjoni, l-argument tag˙hom tilef mil-lostru. Huma jsostnu li ©ara dak li ©ara g˙ax l-Ewropa ma ng˙aqditx aktar malajr. L-argument tag˙hom mhux nieΩel tajjeb din id-darba. Imma li hemm favur tag˙hom hu l-fatt li biex iΩ-Ωona ewro ΩΩomm fil-wiçç, kellha tag˙fas kontrolli dejjem akbar fuq it-tmexxija tal-gvernijiet li jifformaw parti mill-blokk tal-ewro. Permezz ta’ dawn il-kontrolli, effettivament it-tmexxija ekonomika u finanzjarja taΩ-Ωona ewro qed tin©ieb f’linja wa˙da, u dan skont id-direzzjoni li qed tag˙ti l-Ìermanja.


Ji©ifieri ming˙ajr daqq ta’ trombi, qed ikun hemm aktar Ewropa. Dan mhux isir bla ˙add ma jinduna. Il-kwistjoni qed titqajjem b˙ala parti mill-kampanja g˙all-elezzjonijiet tal-Parlament Ewropew. Biss, g˙ax hi materja li tin˙ass teknika, ftit qed tqajjem rebus.

L-EWRO U L-BQIJA

Li j©ibna g˙al tema o˙ra li wkoll qed tin˙ass ming˙ajr ma ti©i ffaççjata: id-differenzi bejn pajjiΩi li g˙andhom l-ewro u pajjiΩi li m’g˙andhomx – fuq quddiem nett ir-Renju Unit. Dan qed isostni li l-membri taΩ-Ωona ewro jridu jag˙mlu kulma jistg˙u biex i˙arsu l-munita tag˙hom, g˙ax dan hu fl-interess ta’ kul˙add. Fl-istess ˙in ir-Renju Unit qed jg˙id li l-pajjiΩi tal-ewro ma jridux jit˙allew jo˙olqu barrieri ©odda fi ˙dan is-suq wie˙ed Ewropew g˙all-pajjiΩi li mhumiex membri taΩ-Ωona ewro. Mill-©did, hi tema li tin˙ass teknika. Imma tmur g˙all-qalba ta’ jekk l-Ewropa hix se jirnexxilha tibqa’ ting˙aqad jew hix sejra fis-snin li ©ejjin, tisparpalja. Mir-Renju Unit innifsu, hemm çans li l-akbar partit fl-Ewropa jispiçça l-UKIP, li jrid jo˙ro© lir-Renju Unit mill-Ewropa. Biex jil˙aq din il-mira jg˙inu l-fatt li l-elettorat IngliΩ hu jew indifferenti lejn l-Ewropa jew mhux interessat li jivvota fl-elezzjonijiet Ewropej, waqt li l-votanti tal-UKIP huma motivati biΩΩejjed biex jo˙or©u g˙all-vot.

(Kummentarju, SMASH TV, 1 - 7 ta’ April 2014)

Ósibijiet Ewropej mill-Imdina 455

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ÓSIBIJIET EWROPEJMILL-IMDINA

Kienet okkaΩjoni utli dik li fiha jien, ma’ kandidati o˙ra g˙all-elezzjonijiet Ewropej, iltqajt ma’ nies tal-biΩnis pjuttost Ωg˙aΩag˙ li jin©abru f’g˙aqda jisimha “Round Table”. Il-˙sieb wara l-laqg˙a, li nΩammet fl-Imdina, kien li niddiskutu aspetti li g˙andhom x’jaqsmu mal-futur tar-relazzjonijiet ta’ Malta fi ˙dan l-Unjoni Ewropea, fejn hi membru s˙i˙. Sibt l-okkaΩjoni ta’ siwi g˙ax ipprovdietli l-opportunità li ng˙aqqad flimkien diversi linji ta’ ˙sieb dwar Malta u l-Ewropa, li kien ili ng˙arbel. Fejn is-soltu dawn il-˙sibijiet jibqg˙u mifruda minn xulxin, din id-darba donnhom ing˙aqdu f’tessut wie˙ed. In-nies mi©bura dehru interessati jisimg˙u dwar l-intenzjonijiet g˙all-futur tal-kandidati, imma wkoll dwar l-andament tar-relazzjonijiet bejn Malta u l-Unjoni Ewropea. Hu dwar hekk li fettilli nift˙ilha. M’hemmx dubju li qamar il-g˙asel ta’ Malta b˙ala membru “©did” tal-Unjoni issa ntemm. In-nies qed tqis b’g˙ajnejn aktar realistiçi dak li ©ara u qed ji©ri bejn Malta u l-bqija tal-Ewropa. L-ewforija tal-˙afna issa nbidlet

455


f’kawtela ta’ min qed i˙allas prezz biex igawdi l-façilitajiet ta’ klabb, u allura jrid ikun Ωgur li se jie˙u dak li ˙allas g˙alih. M’g˙andniex g˙aliex nistag˙©bu b’hekk. L-istess qed ji©ri fi kwaΩi l-pajjiΩi Ewropej kollha. G˙andhom ra©un dawk li jqisu li hemm bΩonn ta’ analiΩi realistika tal-bΩonnijiet ta’ Malta fi ˙dan l-Unjoni. Ne˙tie©u pjan g˙at-tul biex nassiguraw li dawn il-bΩonnijiet jing˙ataw sodisfazzjon.

WAQGÓET LURA

L-a˙˙ar snin kienu snin ta’ bidla kbira fl-Unjoni Ewropea. Il-kriΩi taΩ-Ωona tal-ewro, kif ukoll l-ista©nar ekonomiku tal-Unjoni, issarrfu f’qg˙ad u f’politika ta’ awsterità li naqqret is-servizzi soçjali. B˙ala stat ta’ fatt, il-mudell soçjali Ewropew safa mminat. Biss, it-tnikkir ekonomiku tal-Unjoni Ewropea beda qabel sew il-kriΩi finanzjarja li skattat fl-�008. G˙al deçennji s˙a˙ l-Unjoni Ewropea – jew l-istrutturi li kienu qabilha u wasslu g˙aliha, b˙as-Suq Komuni Ewropew – kienet mutur ekonomiku li dejjem jirranka. Mis-sena �000 ’il quddiem, jew f’data qrib, dan il-mutur tilef mill-effiçjenza tieg˙u. Wara li l-globalizzazzjoni fet˙et is-swieq tal-kontinenti g˙all-kompetizzjoni bejn azjendi privati enormi li n˙elsu minn ˙afna xkilijiet, l-Ewropa donnha bdiet tidher xi˙a u g˙ajjiena. Waqg˙et lura. Ter©a’, bit-twaqqif taΩ-Ωona ewro, l-Unjoni da˙˙let ming˙ajr ma fehmet wisq sew x’inhu ji©ri, piΩijiet ©odda li komplew ixekkluha. Sakemm il-klima ekonomika fid-dinja baqg˙et sabi˙a, dawn il-piΩijiet ftit li xejn g˙amlu differenza. Il-pajjiΩi taΩ-Ωona ewro, kemm dawk li kellhom ekonomija qawwija, kemm dawk b’ekonomija dg˙ajfa, nefqu u ddejnu


kollha bl-istess leblieba – ˙a©a li ppermettitilhom jag˙mlu l-istess ewro, il-munita tag˙hom ilkoll. Imma malli l-klima marret g˙all-ag˙ar mill-�008 ’il quddiem, l-affarijiet ˙Ωienu bil-kbir. G˙alhekk l-a˙˙ar snin kienu snin ta’ bidla kbira fiΩ-Ωona ewro u, fl-a˙˙ar mill-a˙˙ar, fl-Unjoni Ewropea kollha kemm hi. Kien Ωmien fejn kellhom jidda˙˙lu u jissa˙˙u lqug˙ ta’ ˙arsien ˙alli l-ewro ma jikkollassax. Malta tat is-sehem tag˙ha – li swielna sa issa mal-biljun u �00 miljun ewro f’self, garanziji u obbligi o˙ra. Óaddie˙or ta ˙afna aktar imma proporzjonalment is-sehem tag˙na kien fost l-og˙la.

GÓARFIEN

Aktar minn hekk, kellhom jibdew jidda˙˙lu mezzi ©odda ta’ nd˙il fit-tmexxija tal-pajjiΩi Ewropej. Dawn se jkomplu jiΩdiedu fis-snin li ©ejjin. U mag˙hom se jiΩdiedu miΩuri o˙ra li jkomplu jiççentralizzaw id-deçiΩjonijiet, billi je˙duhom minn idejn il-gvernijiet nazzjonali u jpo©©uhom fi ˙dan awtorità çentrali. Fl-istess waqt, ˙afna pajjiΩi Ewropej, inkluΩa Malta, raw kif se jmexxu politika ta’ dak li jissejja˙ “Ωvalutar intern” biex jibqg˙u kompetittivi. Ma setg˙ux jiΩvalutaw il-munita tag˙hom g˙ax kellhom l-ewro. Allura minflok raw kif inaqqsu l-ispiΩa tal-produzzjoni billi jnaqqsu l-pagi u s-servizzi soçjali, inkluΩi l-pensjonijiet. Sa issa dawn l-isforzi, waqt li ©abu titjib fil-kompetittività, ©abu wkoll mag˙hom piΩijiet qawwija ©odda fuq saffi s˙a˙ tal-popli, fosthom dawk li l-anqas jaqilg˙u l-g˙ajxien tag˙hom tajjeb. Fl-istess Ωmien, il-qg˙ad baqa’ tassew qawwi.


Mhux ta’ b’xejn li nfirxet oppoΩizzjoni popolari g˙all-miΩuri ta’ awsterità li baqg˙u jittie˙du. Is-sej˙a politika favur aktar g˙aqda Ewropea, li sa ftit tas-snin ilu kienet qawwija, iddg˙ajfet bil-kbir fost il-popli jekk mhux fost l-elites. Dawn huma kwistjonijiet li ma tantx qed jissemmew fostna. Imma qed ise˙˙u – u se jag˙tu lok g˙al çaqliq politiku fl-Ewropa li jaf ikun qawwi. G˙ax fuq il-front soçjali, il-qag˙da g˙adha mwieg˙ra. Óafna Ewropej qed jistaqsu: a˙na se nibqg˙u hekk, in©orru l-piΩijiet ta’ qg˙ad u ta’ servizzi soçjali li qed jitmermru kontinwament? Wisq Maltin g˙adhom mhumiex jindunaw b’kemm deçiΩjonijiet me˙uda fi ̇ dan l-Unjoni Ewropea qed ikollhom effett dirett fuq ˙ajjithom. Saret ˙a©a importanti ˙afna li nsegwu l-iΩviluppi li jkunu qed ise˙˙u fl-Ewropa biex nag˙rfu minn qabel kif jistg˙u jaffettwawna. Ir-riΩorsi li g˙andna biex nilqg˙u g˙alihom huma Ωg˙ar ˙afna, imma dak li g˙andek trid tuΩah bil-galbu u bis-sa˙˙a kollha li jkollok. Tkun iblah jekk ma tag˙milx hekk. Quddiem il-bidliet li se jkunu riesqa, Malta je˙tie© tippreΩenta poΩizzjoni mag˙quda fuq il-fronti kollha fil-livelli tal-istituzzjonijiet tal-Unjoni Ewropea. Se jkun importanti g˙al Malta li tivvaluta l-effetti fuq is-soçjetà kollha tag˙na tal-bidliet li se jkunu qed jirrankaw. Irridu niΩguraw li l-interessi ta’ Malta ma jing˙atawx il-©enb – kif ©ara f ’img˙oddi riçenti – waqt li jitwettqu bidliet fl-Ewropa li jkunu jaqblu g˙al pajjiΩi kbar b˙all-Ìermanja u forsi Franza, iΩda mhux g˙al gΩira Ωg˙ira b˙al Malta.

(It-Torça, 20 ta’ April 2014)


V. LURA LEJN IL-BIDU?/BACK TO THE BEGINNING?

Mejju 2014 – Marzu 2015/May 2014 – March 2015


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GÓAXAR SNIN WARA

Quddiem il-mistoqsija: kif morna fl-a˙˙ar g˙axar snin li fihom konna membri s˙a˙ tal-Unjoni Ewropea? – hemm tal-anqas Ωew© modi kif twie©eb. Tista’ minn na˙a tqabbel b’mod ©enerali kif issarrfu l-prospetti politiçi, ekonomiçi u soçjali li kienu ©ew imwieg˙da qabel d˙alna fl-Unjoni. U min-na˙a l-o˙ra, tista’ tiddeskrivi b’çertu dettall kif marru l-oqsma differenti tal-ekonomija fl-a˙˙ar g˙axar snin. Hawn, se nsegwu t-tieni triq u nsemmu wie˙ed wie˙ed setturi ewlenin tat-tmexxija. Nibdew bit-

Tkabbir ekonomiku. Matul l-a˙˙ar g˙axar snin, b’mod ©enerali, it-tkabbir ekonomiku reali kien pjuttost anqas, g˙al ˙afna anqas, minn dak li kull sena kien ise˙˙ fl-g˙axar snin ta’ qabel. Anke f’dawk l-g˙axar snin, it-tkabbir ekonomiku kien qieg˙ed jonqos. Biss, fis-snin ta’ bejn l-�008 u sal-lum, kienu qed jin˙assu l-effetti tar-riçessjoni internazzjonali. Fl-a˙˙ar snin, parti qawwija tat-tkabbir ekonomiku ©iet mill-oqsma tas-servizzi finanzjarji u tal-im˙atri bl-internet.

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Kummerç barrani. Fil-qasam tal-prodotti kien hemm çaqliq sostanzjali lejn aktar importazzjoni mill-Ewropa, li kibret b’rata akbar sew minn dik tal-esportazzjoni lejn l-Ewropa. Fil-fatt, id-defiçit kummerçjali bejn Malta u l-Unjoni favur din tal-a˙˙ar Ωdied bil-kbir, anki meta tne˙˙i minnu l-prodotti taΩ-Ωejt.

Industrija. Ditti li ja˙dmu g˙as-suq lokali çkienu bil-kbir, bdew jistrie˙u fuq prodotti importati, jew g˙alqu. Ditti mmirati lejn l-esportazzjoni naqsu fin-numru u fl-impjiegi. Ìew ftit ditti ©odda, l-aktar fil-farmaçewtika u fit-tiswija tal-ajruplani. Is-sa˙˙a tas-settur industrijali fl-ekonomija çkien sew.

Biedja u sajd. Kien hemm tnaqqis sostanzjali (kwaΩi bin-nofs) ta’ bdiewa u sajjieda. Fil-qasam tat-trobbija tal-bhejjem u tjur kien hemm tnaqqis sostanzjali ta’ azjendi u ˙afna minn dawk li baqa’ qed ja˙dmu b’mar©ini ta’ attività dejjem içken. L-istess fis-sajd. Óafna produtturi saru jiddependu fuq sussidji finanzjarji biex iΩommu fil-wiçç. Madankollu, is-settur tal-˙alib baqa’ sod.

TuriΩmu. Dan segwa l-fasla li dejjem segwa f’Malta, bi snin tajba u warajhom snin iebsa. Fost il-fatturi li ddeterminaw kif Ωviluppa kien hemm: il-˙idma tal-kumpaniji tal-ajru low cost; l-ibbukkjar ta’ vaganzi bl-internet; id-diversifikazzjoni tas-swieq li setg˙et irnexxiet aktar; iΩ-Ωieda ta’ ˙addiema barranin mill-Ewropa impjegati fis-settur.

Servizzi finanzjarji. G˙all-ewwel tliet snin wara li Malta da˙let fl-Unjoni Ewropea, is-settur waqa’ lura sakemm addatta g˙all-kundizzjonijiet ©odda. Imbag˙ad irpilja u

G˙axar snin wara 463

qabad rankatura kbira. Illum jg˙idu li din ir-rankatura ©iet g˙ax Malta da˙let fl-Unjoni; x’aktarx li kienet tibqa’ qawwija anki kieku Malta kienet barra, meta mbag˙ad kienu jg˙idu li r-rankatura ©ejja g˙ax Malta baqg˙et barra.

Im˙atri bl-internet. Ûviluppa bil-kbir fl-a˙˙ar snin, b’˙afna azjendi li ©ew Malta g˙alkemm jimpjegaw l-aktar barranin. Sal-lum, l-Unjoni Ewropea ma g˙andha l-ebda politika li tirregola dan is-settur.

Investiment. Il-proporzjon ta’ investiment pubbliku u privat fl-ekonomija baqa’ jonqos, kif kien di©à qed jag˙mel fl-g˙axar snin ta’ qabel id-d˙ul ta’ Malta fl-Unjoni Ewropea.

G˙awdex. B’mod ©enerali G˙awdex waqa’ lura b’paragun mal-bqija tal-pajjiΩ. L-industrija, il-biedja u s-sajd çkienu, waqt li t-turiΩmu g˙amel Ωmien ibati sakemm ftit ilu re©a’ rkupra. L-impjiegi produttivi f’G˙awdex naqsu waqt li Ωdied in-numru ta’ G˙awdxin li jkollhom ifittxu x-xog˙ol f’Malta. G˙awdex waqa’ lura anki f’paragun ma’ gΩejjer çkejkna o˙ra fl-Unjoni Ewropea.

Xog˙ol u impjiegi. IΩ-Ωieda f’xog˙ol u f’impjiegi baqg˙et fl-istess livell b˙al fl-g˙axar snin ta’ qabel jew ©ieli naqset. Dan ©ara independentement mill-effetti tar-riçessjoni internazzjonali fuq l-ekonomija Maltija. Fl-istess ˙in, numru sabi˙ ta’ nies sabu impjieg ma’ istituzzjonijiet Ewropej. Effettivament kien hemm tnaqqis ta’ impjiegi fl-oqsma tal-produzzjoni diretta (b˙all-manifattura) u Ωieda fl-oqsma tas-servizzi. Ûdied sew ix-xog˙ol part-time, anki fejn dan ikun l-uniku xog˙ol tal-˙addiema konçernati. Ûdied ukoll ix-xog˙ol prekarju.


Pagi. Kien hemm Ωieda sostanzjali fil-pagi ta’ çerti kategoriji ta’ ˙addiema tekniçi u/jew professjonali. G˙all-bqija tal-kategoriji ta’ impjieg, il-pagi jew baqg˙u relattivament fl-istess livell jew marru lura. B˙ala medja mkejla fuq kul˙add, x’aktarx li l-bidla fid-d˙ul reali tal-familji b’paga kienet negattiva sew.

Fondi Ewropej. G˙all-ewwel erba’ snin, meta l-gvern kien jirçievi l-fondi biex jonfoqhom kif irid, b˙ala d˙ul bla kundizzjonijiet fil-ba©it tieg˙u, Malta marret minn fuq: da˙˙let aktar mill-Unjoni milli kellha t˙allas. L-istampa nbidlet meta l-fondi mill-Unjoni kellhom jibdew jaslu b˙ala parti minn pro©etti kofinanzjati bejn il-gvern Malti u l-Unjoni. Il-˙ru© ta’ fondi waqa’ lura u kien hemm snin fejn Malta ˙allset aktar lill-Unjoni milli da˙˙let. Kien hemm ukoll fondi assenjati lil Malta li ntilfu. Fl-a˙˙ar sentejn ir-rata ta’ rkupru tjiebet, b’uΩu akbar min-na˙a Maltija tal-fondi allokati g˙al Malta. Sadattant il-˙las li Malta tag˙mel b˙ala l-miΩata tag˙ha ta’ membru fl-Unjoni issa la˙aq qrib il-85 miljun ewro fis-sena.

L-ewro: munita nazzjonali. Malta addottat l-ewro fl-1 ta’ Jannar �008, eΩatt meta kienet qed tfaqqa’ kriΩi qawwija fiΩ-Ωona tal-ewro. B’riΩultat ta’ hekk, kellhom isiru bidliet kbar fit-tmexxija taΩ-Ωona b’miΩuri li ttie˙du ˙alli ting˙ata g˙ajnuna lill-pajjiΩi b˙all-Greçja u l-Portugall li kienu se jog˙tru. Malta pparteçipat f’dawn il-˙idmiet u bejn self, bejn garanziji u obbligi o˙ra, g˙andha impenn finanzjarju lejn is-salvata©© tal-ewro li jla˙˙aq xi biljun u �00 miljun ewro, wa˙da mill-og˙la impenji meta tkejlu g˙al kull çittadin fil-popolazzjoni.

G˙oli tal-˙ajja. Baqa’ jippersisti b’mod stramb it-tektik

G˙axar snin wara 465

tal-g˙oli tal-˙ajja, li donnu jiΩdied meta jkun qed jonqos fil-bqija tal-Ewropa, u meta f’din jibda jog˙la, donnu jonqos f’Malta. F’dal-qasam g˙adna ma nafux eΩatt kif fostna jiskattaw iΩ-Ωidiet fil-prezzijiet li b’mod ©enerali baqg˙u aktar qawwija milli huma fil-kontinent Ewropew.

Standards ta’ g˙ajxien. B˙al fl-ekonomija, donnha ssa˙˙et firda soçjali maqsuma f’Ωew© saffi – bejn dawk li tjieb sew il-livell ta’ ̇ ajja tag˙hom, u dawk li l-kwalità tal-˙ajja li jg˙ixu jew ma tjiebet xejn jew marret lura. Il-persenta©© ta’ nies f’riskju ta’ faqar Ωdied fl-a˙˙ar snin (mhux f’Malta biss, imma mal-Ewropa kollha).

Konsumaturi. B’mod ©enerali l-g˙aΩla lill-konsumatur Ωdiedet.

Skambji edukattivi. B’mod ©enerali, Ωdiedu: anki jekk min˙abba amministrazzjoni ˙aΩina min-na˙a Maltija, intilfu çerti fondi.

***

Dawn na˙seb jien, huma l-aqwa elementi li fuqhom wie˙ed jista’ jifli x’©ara u ma ©arax fl-ewwel g˙axar snin tas-s˙ubija ta’ Malta fl-Unjoni Ewropea. Qed inpo©©ihom flimkien ming˙ajr ma nag˙ti ©udizzju dwar jekk il-poplu Malti u G˙awdxi marx tajjeb jew ˙aΩin fl-Unjoni Ewropea. Dwar ˙a©a b˙al dik, hu xieraq li llum in˙allu lill-poplu nnifsu jiddeçiedi. Biss fil-fehma tieg˙i, il-kejl ta’ kif morna jrid jing˙ata skont kif ikunu qed jg˙ixu ˙ajjithom in-nies tax-xog˙ol kollha kemm huma – il-˙addiema tal-id u tal-pinna, il-klassijiet tan-nofs, il-pensjonanti u l-anzjani.

(l-orizzont, 01 ta’ Mejju 2014)


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KUNTRASTI BEJN IL-PAJJIÛI TAL-EWRO

L-investigazzjonijiet saru, il-kontijiet ©ew ivverifikati, l-istimi tqabblu mar-riΩultati. U t-trojka, mag˙mula mill-Bank Çentrali Ewropew, mill-Kummissjoni Ewropea u mill-Fond Monetarju Internazzjonali, qablet li l-Portugall la˙˙aq mal-weg˙di tieg˙u dwar kif u b’kemm il-finanzi pubbliçi tal-gvern se jin©iebu ta˙t kontroll strett. Id-defiçit tal-gvern riesaq lejn l-ammonti mistennija ta˙t ir-regoli ta’ Maastricht, li fuqhom tippernja d-dixxiplina li Ω-Ωona ewro qed tag˙fas fuq il-pajjiΩi fosthom Malta... u l-Portugall. Dan tal-a˙˙ar issa jista’ jmur jissellef mis-swieq finanzjarji; se jsib min ikun lest isellfu bla ma jiççar©ja mg˙axijiet li jqaxxruk ˙aj. G˙alhekk il-Portugall se jin˙eles mill-obbligi li da˙al g˙alihom biex jissottometti ru˙u g˙all-investigazzjonijiet tat-trojka. Din kienet tiddettalu anki kif g˙andhom jitmexxew il-finanzi tal-gvern, u b’kemm u b’kif g˙andu jintaxxa u jnaqqas il-benefiççji soçjali, il-pensjonijiet u l-

466

Kuntrasti bejn il-pajjiΩi tal-ewro 467

pagi g˙aç-çittadini tieg˙u. Imbag˙ad kien ikun jista’ juΩa l-biljuni ta’ ewro li rçieva miΩ-Ωona ewro b˙ala self ˙alli l-pajjiΩ ikun jista’ jibqa’ g˙addej, minkejja li sab ru˙u f’xifer il-falliment. Issa l-Portugall se jkun jista’ jer©a’ jiddeçiedi hu kif g˙andu jmexxi. Imma dejjem irid jibqa’ attent li ma jer©ax jonfoq iΩΩejjed u jispiçça lampa stampa. Biex il-PortugiΩi waslu sa dal-punt, kellhom i˙allsu prezz enormi. Il-faqar Ωdied b’mod alluçinanti, il-qg˙ad speçjalment fost iΩ-Ωg˙aΩag˙ hu g˙oli, u ̇ afna familji bilkemm jistg˙u jkampaw bil-pagi u pensjonijiet imqaççta li qed jirçievu.

IL-ÌERMANJA MHUX SE TNAQQAS IT-TAXXI

Il-Ministru tal-Finanzi ÌermaniΩ Schauble baqa’ determinat li l-awsterità li jipprietka g˙al ˙addie˙or lest iwettaqha f’pajjiΩu. Peress li l-ba©it tal-gvern ÌermaniΩ jinsab qrib bilanç s˙i˙, jekk mhux ukoll qieg˙ed b’bilanç poΩittiv, ˙afna ÌermaniΩi kienu qed jistennew tnaqqis mit-taxxi g˙al din is-sena. Xejn minn dan qallhom Schauble. G˙as-sena li g˙addiet il-gvern kien sab li Ωviluppat ˙ofra fid-d˙ul tieg˙u mit-taxxa fuq id-d˙ul ta’ xi 400 mitt miljun ewro. Dan ne˙˙ielu g˙alkollox kull possibbiltà li jda˙˙al tnaqqis fit-taxxi g˙ax il-gvern ÌermaniΩ se jibqa’ determinat li mis-sena �015 bl-ebda mod mhu se j˙alli li jikber id-dejn nazzjonali.

IL-GREÇJA MIFLIJA

Il-Greçja re©g˙et ©iet miflija mill-pajjiΩi tal-ewro li sellfuha l-biljuni biex tibqa’ fil-wiçç. Dan b˙as-soltu sar permezz tat-trojka, li saret mitqiesa b˙ala l-g˙odda li ©abet piΩijiet


kbar fuq il-pajjiΩ. Imma din id-darba l-esperti qed jg˙idu li l-Greçja ssodisfat l-esi©enzi kollha tag˙hom u li l-ekonomija tag˙ha sejra a˙jar milli ja˙sbu bosta Griegi. Lil min dat-titjib qed jibbenefika g˙adha mistoqsija miftu˙a peress li l-qag˙da ta’ saffi s˙a˙ mill-popolazzjoni hi mwieg˙ra g˙all-a˙˙ar. It-titjib li qed ji©i m˙abbar fl-ekonomija Griega jista’ jkun imnebba˙ minn Ωew© fatturi. Hemm il-˙sieb li l-affarijiet jidhru li qed jirpiljaw fil-©img˙at ta’ qabel iç-çittadini Ewropej imorru jivvutaw g˙all-elezzjonijiet tal-Parlament Ewropew.U hemm il-manuvri g˙addejja bejn il-Greçja u dawk li sellfuha l-biljuni ta’ ewro dwar jekk dawn g˙andhomx ja˙frulha parti sostanzjali mid-dejn li g˙ad baqg˙alha mag˙hom. Sorsi fil-Fond Monetarju Internazzjonali ilhom jg˙idu li jekk ma jsirx hekk, ftit hemm prospetti li l-Greçja ter©a’ ti©i f’sikkitha tassew. Min-na˙a l-o˙ra, il-kredituri Ewropej, bil-Ìermanja fuq quddiem nett, jinsistu li l-Greçja trid tirrifondi kulma ssellfet, u li se tkun f’poΩizzjoni li tag˙mel hekk. Din il-log˙ba g˙adha sejra.

DUBJI DWAR L-AWSTRIJA

L-ewrogrupp, dak il-grupp ta’ ministri tal-finanzi li jissorveljaw kif qed jitmexxew l-ekonomiji u l-finanzi fl-Unjoni Ewropea, mhumiex biss interessati fil-Greçja imma f’o˙rajn. L-a˙˙ar pajjiΩ li ng˙aqad mal-klabb ta’ pajjiΩi li qed iqanqlu d-dubji dwar kif qed imexxu, hu l-Awstrija. L-ewrogrupp mhux sodisfatt bil-mod kif il-gvern Awstrijak bidel il-ba©it tieg˙u wara l-a˙˙ar elezzjoni. L-istess ˙a©a tista’ tintqal g˙all-gvern Taljan, FrançiΩ... u forsi o˙rajn. X’se jg˙idu dawk li qed josservaw iΩ-Ωona ewro minn barra


biex jaraw kemm se tkun kapaçi li tilqa’ g˙all-kriΩijiet tal-futur?

DEÇIÛJONIJIET IEBSA GÓALL-EWROPA

Fl-elezzjonijiet g˙all-Parlament Ewropew li saru fil-pajjiΩi membri tal-Unjoni Ewropea r-riΩultati taw theΩΩiΩa kbira lill-partiti l-kbar tal-lemin u tax-xellug, imma ma ssorprendewx. Kienu mistennija, daqskemm kienet mistennija r-rata g˙olja ˙afna ta’ astensjoniΩmu fost il-votanti. Liberali, popolari u demokristjani, soçjalisti u ˙odor kienu draw matul is-snin ipo©©u quddiem l-elettorati programmi ta’ ˙idma politika msejsa fuq il-˙sieb li l-popli Ewropej, mhux biss jaqblu mal-kunçett ta’ Ewropa mag˙quda, imma jridu li l-pro©ett ta’ g˙aqda jit˙affef u jitg˙a©©el kemm jista’. U hekk g˙amlu – mexxewh ’il quddiem b’mod li llum ˙afna deçiΩjonijiet kbar jittie˙du fuq livell Ewropew biex wara jkunu m˙addma fuq livell nazzjonali. Sakemm il-klima ekonomika baqg˙et ftit jew wisq tajba, dil-˙a©a ma qajmitx wisq reΩistenza. Tul l-a˙˙ar ˙ames snin iΩda, ir-riçessjoni ekonomika qanqlet qg˙ad u inçertezzi kbar. Biex iΩommu Ω-Ωona ewro samma, il-mexxejja Ewropej kellhom iduru g˙al miΩuri ta’ awsterità ˙alli jnaqqsu l-ispejjeΩ pubbliçi. B’hekk Ωiedu l-qg˙ad waqt li kiber ir-riskju tal-faqar g˙al miljuni ta’ familji. Biex il-biçça tkompli tag˙qad, irranka l-fenomenu tal-immigrazzjoni irregolari li qanqal dwejjaq soçjali u Ωied is-suspetti li l-immigranti se jkunu qed ja˙tfu mill-impjiegi li dejjem dehru jmajnaw. It-tkabbir ta’ partiti pjuttost Ωg˙ar sal-biera˙ se˙˙ g˙ax ˙afna u ˙afna nies qiesu li l-politika li qed titmexxa mill-


Unjoni Ewropea mhix tissodisfa l-bΩonnijiet tag˙hom. Anzi qed tinjorahom jew to˙loqilhom aktar problemi. Dawn in-nies jew g˙aΩlu li ma jivvutawx, jew ivvutaw g˙al partiti b˙al dak tal-Front National fi Franza li jrid li Franza to˙ro© mill-ewro u turi ru˙ha ˙afna aktar iebsa mal-immigranti. Kullimkien kwaΩi, bl-eççezzjoni ta’ Malta u l-Italja, il-partiti l-kbar qalg˙u tumakka qawwija. Fi Spanja s-soçjalisti fl-oppoΩizzjoni u l-popolari fil-gvern, it-tnejn li huma flimkien g˙all-ewwel darba ©abu anqas minn nofs il-voti. Il-kap soçjalista rriΩenja minnufih. Fi Franza, il-Front National immexxi minn Marine Le Pen ©ie l-ewwel fit-tellieqa g˙all-voti u ˙alla warajh lill-UMP tal-konservattivi u lis-soçjalisti tal-President Hollande. Fir-Renju Unit il-partit UKIP, mag˙ruf b˙ala ewroxettiku mill-iprem, ˙alla warajh kemm lill-konservattivi u kemm lil-laburisti waqt li l-liberali g˙oddhom sparixxew. Fil-Greçja l-partit hekk imsejja˙ tax-xellug estrem, is-SiriΩa, reba˙ bil-kbir. U l-istorja tkompli bl-istess mod fil-pajjiΩi l-o˙ra. Partiti hekk imsej˙a estremisti jew populisti jew ewroxettiçi jew sovranisti se jkollhom bejn kwart sa terz tas-si©©ijiet fil-Parlament Ewropew. Hu minnu li l-akbar gruppi fil-Parlament baqg˙u tal-popolari u tas-soçjalisti. Tal-ewwel g˙adda lil tat-tieni fit-tellieqa g˙as-si©©ijiet b’xi �5 si©©u. Teorikament, Jean-Claude Juncker, il-kandidat tag˙hom g˙all-Presidenza tal-Kummissjoni Ewropea, jibda b’vanta©© fit-tellieqa g˙al min jakkwista din il-presidenza. Imma dan it-tip ta’ kalkolu jidher ftit superfiçjali fid-dawl tal-bidla li se tkun se˙˙et fil-kompoΩizzjoni tal-Parlament innifsu u fil-bidla li se tkun g˙addejja fi ˙dan il-gvernijiet Ewropej hekk kif dawn iqisu t-tag˙limiet li ˙ar©u mir-riΩultati. IΩ-Ωew© partiti l-kbar se


jkollhom bΩonn l-appo©© ta’ xulxin meta ji©u g˙all-vot fuq kwistjonijiet li jkunu jridu jippromwovu. Biss anki hawn, it-tensjoni li se tqum se tkun dwar kif g˙andhom ji©u ttrattati d-deçiΩjonijiet li jitilg˙u fuq l-a©enda. G˙andha titkompla l-mixja lejn aktar Ewropa? Jew minflok, ir-riedni g˙andhom jinΩammu lura u l-entijiet nazzjonali jit˙allew jag˙Ωlu toroq differenti? Fil-konferenza stampa li ta, il-President Hollande wissa li l-Ewropa messha toqg˙od b’seba’ g˙ajnejn li ma tid˙olx g˙al eΩerçizzji li jistg˙u jitwettqu fuq pjan nazzjonali. Biss, dil-˙a©a ilha tintqal u kienet tintqal ukoll fiΩ-Ωmien meta l-istrutturi tal-Unjoni Ewropea baqg˙u jitfasslu u jitmexxew b’mod li rikkibhom fuq it-tmexxija nazzjonali tal-pajjiΩi membri. Il-problema hi li llum, biex l-Unjoni Ewropea timmani©©ja tajjeb kemm iΩ-Ωona ewro u kemm aspetti ewlenin tal-politika tag˙ha – b˙al fil-qasam tal-ambjent u tal-biedja – te˙tie© strutturi politiçi federali. Ming˙ajrhom x’aktarx li mil-lat tekniku, se jkollha tibqa’ ççaflas. Madankollu, politikament, il-popli Ewropej qed juru dejjem aktar fiç-çar li ma jaqblux mal-federaliΩmu. Kibru l-prospetti li s-snin li ©ejjin se jkunu snin ta’ deçiΩjonijiet iebsa g˙all-Ewropa, lejn na˙a jew lejn o˙ra.

(Kummentarju SMASH TV, 06 - 13 - 27 ta’ Mejju 2014)


Il-President FrançiΩ François Hollande.


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IL-BAÌIT FRANÇIÛ U XI JMUR MIEGÓU

Ma jidhirx li d-diskussjonijiet dwar il-ba©it tal-gvern FrançiΩ, u m’hemmx x’tg˙id, il-kontroversji wkoll, daqt se jieqfu. Ninsabu quddiem sfida g˙al kif fiΩ-Ωona ewro u fl-Unjoni Ewropea, ©ew Ωviluppati l-miΩuri ta’ ˙arsien g˙at-tmexxija ekonomika u finanzjarja. Filli Franza kienet wa˙da mill-protagonisti g˙al kif dawn il-miΩuri t˙asslu. Filli, meta l-log˙ba daret “kontriha”, g˙amlitha çara li ma tridx jew ma tistax tosserva r-regoli li hi stess g˙enet biex jin˙olqu. Bla ma ©abet il-qbil ta’ ˙add, iddikjarat li se tipposponi b’sentejn iΩ-Ωmien li fih kellha ti©i f’linja mar-regoli tal-Patt ta’ Stabbiltà u Tkabbir Ekonomiku – li sar il-Bibbja tal-Ewropa g˙al kif g˙andek tmexxi l-ekonomija u l-finanzi. Min-na˙a tal-Kummissjoni Ewropea, xejn ma kien hemm pjaçir b’din l-istorja. Imma l-Kummissjoni waslet biex tag˙laq il-˙anut ˙alli minflokha tid˙ol Kummissjoni ©dida. U l-Kummissarju li jmexxi l-oqsma tal-ekonomija u t-tassazzjoni se jkun il-FrançiΩ Moscovici.

473


Tensjoni kbira tin˙ass min-na˙a ÌermaniΩa: m’hemm l-ebda apprezzament g˙al kif il-gvern FrançiΩ qatag˙ha ˙esrem u sostna li ma kellux triq o˙ra ˙lief li jtawwal iΩ-Ωmien li fih se jkun qieg˙ed inaqqas id-defiçit tal-ba©it tieg˙u. Biç-çirkostanzi ekonomiçi kif inhuma, qed jg˙idu l-FrançiΩi, ma rawx triq o˙ra. Biss dan l-argument qed iqajjem id-dwejjaq tal-pajjiΩi Ω-Ωg˙ar li qed ikollhom ibaxxu rashom meta jg˙idulhom: ara kif tnaqqas l-ispiΩa tieg˙ek biex ma jkollokx defiçit kbir wisq, g˙ax inkella...! Allura dan jg˙odd g˙al pajjiΩi Ωg˙ar biss? PajjiΩ kbir b˙al Franza, meta ji©i l-waqt, jista’ ji©i jaqa’ u jqum mir-regoli li suppost jorbtu lil kul˙add bl-istess mod?

L-EKONOMIJI: ’IL FUQ JEW ’L ISFEL?

Fil-fatt, il-mistoqsija l-kbira qed tkun: ekonomikament, fejn sejra l-Ewropa? Il-bixriet ta’ kif sejrin l-affarijiet re©g˙u ˙Ωienu. Forsi l-Ìermanja ftit se tkun tista’ tag˙mel pressjoni fuq Franza biex din tobdi r-regoli stretti tal-Patt ta’ Stabbiltà u Tkabbir. Hi wkoll tinsab f’xifer ta’ riçessjoni skont çerti pronostki. U jekk il-Ìermanja se tog˙tor, se tag˙mel dan ma’ o˙rajn. Il-biΩa’ hu li l-ekonomija tal-Ewropa tinsab maqbuda fi tnalja. Ma tistax tonfoq jew tisparpalja (ag˙Ωel int liema hi l-a˙jar kelma) il-flus daqskemm jixtiequ l-politiçi tag˙ha, ˙alli b’hekk jistimolaw l-impjiegi. U meta toqg˙od lura milli tonfoq, qed issib li qieg˙da tkabbar l-effetti tal-ista©nar ekonomiku li ilu s-snin ma jridx içedi, u dan tista’ tg˙id mal-Ewropa kollha.

(It-Torça, 19 - 26 ta’ Ottubru 2014)

L-inizjattiva fl-Ewropa 475

44

L-INIZJATTIVA FL-EWROPA

Saret ˙a©a komuni tisma’ lmenti dwar kif fl-Ewropa l-investimenti naqsu bil-kbir, speçjalment mis-settur privat. Deputat tal-lemin fil-kumitat tal-Parlament Ewropew li jittratta l-finanzi u l-ekonomija re©a’ qajjem il-punt. Dan irrepeta kumment li ilna nisimg˙u: fis-sena, fl-Ewropa l-investiment li qed isir ila˙˙aq 900 biljun ewro ANQAS milli g˙andu jkun. Dan in-nuqqas ifisser li l-ekonomija Ewropea mhux biss qed taqa’ lura mqabbla ma’ ekonomiji o˙ra kbar, imma mhix se jkollha biex ti©©enera l-˙idma me˙tie©a ˙alli jin˙olqu u jkunu sostnuti l-impjiegi. Tqum il-mistoqsija: x’g˙andu jsir biex l-investiment jit˙arrek? Il-kontroversja dwar l-a˙jar triq ’il quddiem g˙adha sejra. Biss problema hi li tant hemm kapital politiku kbir marbut mal-g˙aΩliet li saru sa issa, li ftit hemm skop biex dawn l-g˙aΩliet jinbidlu bil-qawwi. G˙ax il-lo©ika tg˙idlek li jekk fuq Ωmien twil dak li wettaqt matax ir-riΩultati mixtieqa, hemm problema fondamentali x’aktarx fl-g˙aΩliet li g˙amilt. Niddubita kemm jista’ jkun hemm inizjattiva effettiva

475


fl-Ewropa tal-lum biex ting˙eleb l-isfida tal-investiment, peress li biex tirnexxi din l-inizjattiva trid tattakka s-sisien tal-kapital politiku mibni matul is-snin minn ˙afna forzi qawwija fi Brussell u fil-kapitali nazzjonali tal-pajjiΩi membri.

PRONOSTKU EKONOMIKU BATUT

Il-Kummissjoni Ewropea ppubblikat il-pronostku ekonomiku tag˙ha g˙all-pajjiΩi membri tal-Unjoni Ewropea. Tag˙mel hekk kull ˙arifa u kull rebbieg˙a. Din id-darba l-pronostku kien mistenni b’interess g˙al Ωew© ra©unijiet. L-ewwel, g˙ax il-klima ekonomika kienet qed tin˙ass li sejra lura fl-a˙˙ar xhur u g˙alhekk kien hemm stennija biex wie˙ed jara jekk dan ©iex rifless fil-konkluΩjonijiet tal-Kummissjoni. U t-tieni, il-Kummissjoni Ewropea ta’ Jean-Claude Juncker kien se jkollha tifli l-ba©its tal-pajjiΩi membri fid-dawl ta’ x’se jo˙ro© mill-pronostku ekonomiku. B’mod çar, il-prospetti li l-esperti tal-Kummissjoni stess kienu se jaraw g˙all-Ewropa kien se jaffettwa l-©udizzju li l-Kummissjoni tasal g˙alih dwar il-ba©its. Effettivament, it-tbassir li qed tag˙mel il-Kummissjoni Ewropea juri tnaqqis fit-tkabbir ekonomiku minn dak previst fir-rebbieg˙a li g˙addiet. Dakinhar, it-tkabbir di©à kien stmat li se jkun baxx ˙afna g˙al din is-sena. U l-prospetti g˙as-sena d-die˙la mhux se jkunu wisq a˙jar. Dan ifisser li pajjiΩi li qed ibatu minn problemi tad-defiçit fil-finanzi pubbliçi tag˙hom se jsibuha aktar diffiçli li jimlew il-˙ofor tal-ba©it, g˙ax f’ekonomija li mhix tavvanza sew, id-d˙ul tal-gvern mit-taxxi jista©na.


IT-300 MITT BILJUN: KIF?

G˙adha ttektek il-mistoqsija: kif se jag˙mel il-President tal-Kummissjoni Ewropea Juncker biex iwaqqaf il-fond ta’ 300 mitt biljun ewro ˙alli fuq tliet snin jintefqu fi pro©etti li bihom l-ekonomiji jistg˙u jirrankaw? (Qabbel din iç-çifra mad-900 mitt biljun li qed jonqsu fis-sena mill-ammonti ta’ investiment li suppost qed isiru fl-Ewropa!) Juncker qal li se jkun qed jiΩvela d-dettalji tal-pjan tieg˙u qabel il-Kunsill tal-Prim Ministri u Kapi tal-Istat Ewropej li se jiltaqa’ f’Diçembru. Sa dak il-˙in, se jΩomm kollox mistur. Imma baxx baxx, id-dubji qed iqumu dwar kemm il-fond ta’ Juncker se jkun mag˙mul minn flejjes ©odda, kif is-soçjalisti sa˙qu li g˙andu jkun. Id-dubji u anki r-rassenjazzjoni donnhom qed jixterdu fost çerti soçjalisti. Idea li bdiet iddur kienet biex jintuΩa g˙all-fond il-Bank g˙all-Investiment Ewropew. Fil-fehma tieg˙i triq b˙al din tkun tfisser li l-fond ta’ Juncker ma jwassal imkien. Il-Bank ma g˙andu l-ebda ˙ila u l-ebda esperjenza biex imexxi pro©etti ma˙suba biex jirrankaw l-attività ekonomika; hu aktar mix˙ut fuq pro©etti ta’ infrastruttura. Waqt laqg˙a informali fejn dan is-su©©ett qam g˙ad-diskussjoni, jien issu©©erejt mod ̇ afif kif il-fond ta’ Juncker jista’ jitwaqqaf malajr malajr: dan hu billi l-Kummissjoni Ewropea ting˙ata l-inkarigu li ti©bor il-flejjes permezz ta’ garanziji jew self dirett, u t˙addimhom b˙alma kienet t˙addem Fond ie˙or li issa ma g˙adux jinΩamm, li kien jissejja˙ il-Fond ta’ Stabbiltà. Il-pro©etti tiddeçidihom hi skont kriterji maqbula mal-istati membri u mbag˙ad tg˙addihom lill-istati membri biex iwettquhom huma. Din l-idea ˙asdet lil u˙ud; o˙rajn rawha perikoluΩa. M’hemmx x’tag˙mel, ma tistax tog˙©ob lil kul˙add.


KONSOLIDAMENT FISKALI

Meta ppreΩentaw iç-çifri l-©odda tat-tbassir ekonomiku, iΩ-Ωew© Kummissarji Ewropej ©odda responsabbli mill-ekonomija u l-finanzi, il-FinlandiΩ Katainen u l-FrançiΩ Moscovici re©g˙u insistew fuq il-˙tie©a li l-istati membri tal-Unjoni jikkonçentraw fuq li jnaqqsu d-defiçit tag˙hom. Il-proçess li bih dan isir hu msejja˙ “konsolidament fiskali”. Fl-a˙˙ar snin wassal g˙al issikkar taç-çinturin minn bosta gvernijiet. Din l-awsterità kompliet issostni r-riçessjoni f’diversi pajjiΩi. L-argumenti ilhom jitqajmu, imma issa qed jie˙du nifs aqwa, kontra li titkompla din il-politika. Meta gvern jibqa’ jis˙aq fuq li jnaqqas in-nefqa, qed inixxef lill-ekonomija mill-flejjes li te˙tie© biex iddawwar ir-rota tal-bejg˙ u x-xiri. U g˙alhekk ir-riçessjoni u l-ista©nar jissa˙˙u. Ma jidhirx li l-Kummissjoni l-©dida se timpressjona ru˙ha daqstant b’dan l-argument. G˙al Katainen u Moscovici jidher li l-aqwa mira se tibqa’ dik li jitraΩΩnu d-djun tal-istati membri.

IL-BANEK EWROPEJ TAÓT FRANKFURT

Fl-istess ˙in, l-g˙aqda bankarja fl-Unjoni Ewropea tinsab die˙la fis-se˙˙ biçça biçça. Meta kollox jing˙aqad f’binja wa˙da, se jkun hemm mal-pajjiΩi Ewropej awtorità wa˙da mmexxija mill-Bank Çentrali Ewropew li tissorvelja l-operat tal-banek b’mod regolari u tassattiv. Se jkun hemm awtorità o˙ra li meta xi bank isib ru˙u fil-g˙aw©, tid˙ol fuqu biex tara kif twieΩnu, issalvah jew tiddeçiedi li t˙allih ifalli. U suppost se jkun hemm ukoll sistema komuni ta’ ˙arsien g˙ad-depoΩituri u investituri. F’din tal-a˙˙ar, il-progress g˙adu lura ˙afna.


Din il-©img˙a twettaq il-pass li bih il-banek il-kbar tal-pajjiΩi membri tal-ewro dda˙˙lu ta˙t il-gwida, jekk dik hi l-kelma t-tajba, tal-Bank Çentrali Ewropew. Wara li ©ew impo©©ija ta˙t eΩami strett biex jaraw kemm g˙andhom il-˙ila jilqg˙u g˙all-problemi li jistg˙u jinqalg˙u, il-banek issa jridu regolarment jikkonvinçu lill-Bank Çentrali Ewropew li qed joperaw skont regoli komuni ta’ tmexxija tajba. Mhux kul˙add jaqbel ma’ din il-bidla. Hemm min jg˙id li l-banek mhux kollha g˙andhom l-istess mod ta’ tmexxija u mhux kollha jaffaççjaw l-istess kundizzjonijiet ekonomiçi fl-operat tag˙hom. Allura li tpo©©ihom ilkoll fl-istess keffa mhux se jag˙mel sens. Min-na˙a l-o˙ra, l-esperjenza tal-a˙˙ar snin fiΩ-Ωona ewro wriet li meta l-banek kbar jog˙tru, ikollhom jid˙lu biex isalvawhom il-gvernijiet. Tant qed ikunu kbar il-banek u tant kienu kbar id-djun li tellg˙u li diversi gvernijiet g˙oddhom g˙erqu fl-isforz li g˙amlu ˙alli jΩommuhom fil-wiçç. Biex din il-˙a©a ma tirrepetix ru˙ha, hemm bΩonn – jintqal – ta’ awtorità b’sa˙˙a Ewropea biex tilqa’ g˙all-problemi u tiskansa lill-gvernijiet milli j©orru l-piΩijiet ta’ banek falluti.

(It-Torça, 09 ta’ Novembru 2014)


45

FORECASTS

I find it difficult to follow the forecasts being made about the current performance of the European economy. On the one hand, we are told that signals of a sustainable recovery are now prevalent, and sometimes we even hear that except for France, rates of economic growth will be greater than expected. Sources close to the International Monetary Fund frequently make this analysis. Spain is on the road to recovery... and among European citizens, optimism about economic recovery is increasing... On the other hand, we get reports about how pessimism is spreading among German bosses as industrial production in their country stagnates. When Germany is running on the spot, the economy of its neighbours will quite likely fail to flourish. Meanwhile, large multinational companies are warning that the sanctions being imposed on Russia will negatively affect their operations and profits. How will the balance of economic developments settle in coming months? If sustained economic growth is not achieved, Europe will find it difficult to dismantle the

480

Forecasts 481

mountain of unemployment that has been allowed to rise in recent years, especially among young people.

(4 August 2014)***

ITALY IN RECESSION

The news that the Italian economy is back in recession, even if it is not so deep – at least for now – is bad news. The European south seems to have been caught in a vice. It got the worst punishment during the years of acute crisis in the euro zone. Now Spain seems to be on the way to recovery while Greece has braked its downslide. It is a pity that Italy is failing to keep in step. To complicate matters, France is hardly on an upswing. No matter what can be said about France, this country has a major influence on how economic growth builds up in the south of Europe. Malta has avoided the problematic tendencies of southern Europe in so far as economic stability is concerned. The financial services and the internet gaming sectors were major contributors to this state of affairs. Both sectors are now facing new challenges, not to say threats. We should gear up to tackle them effectively.

(11 August 2014)***

DRAGHI

Recently, in political discussions about Europe’s economic future, what is continually mentioned above all is the name


of Mario Draghi, the President of the European Central Bank. What did Draghi say? What did he mean when he said that? If he said so, does this mean that he wants to...? Has he decided to ...? Does he feel that...? Now, to be sure, Draghi is an official nominated by governments. He has not been elected to his post. He has no democratic legitimacy. Still, his powers to decide go far beyond the powers of politicians supposedly with a “greater” reach than his. In “Western” democracies, the European Union included, the practice has developed by which the major monetary decisions – which essentially are among the most significant political decisions up for grabs – have been removed from the purview of politicians and delegated to “technicians”. The latter are considered by far, to be abler than politicians in terms of objectivity and transparency when taking monetary decisions. In reality, Draghi and others appointed to similar jobs end up playing a political game. However, they haven’t been chosen by the people.

(11 September 2014)***

TO THE RIGHT

The conclusion is clear cut. Jean-Claude Juncker’s appointments to “his” Commission and the way he structured them, will increase the influence of the political right in the management of the European Union. This does not mean that Juncker has dishonoured the political promises he made on his way to becoming

Forecasts 483

Commission President. No, he kept them all. However he played an astute hand in doing so. He has introduced an array of balances and controls that will enable him to pull towards right or left according to circumstances. Above all, he has given a strong push towards the right, both in the repartitioning of portfolios and in the assignment of decisional powers to Commissioners.

(15 September 2014) ***

FRANCE SLIDING

The state of affairs in France has become disquieting. The economy is stalling, new jobs remain absent, deflation persists and the government deficit is poisonous. Politically the socialists have rarely been so weak while the right seems to be teetering towards civil war. A sliding France is bad news for Europe. Economic recovery will require that the rules of the Stability and Growth Pact be bent further. If not, economic stagnation could deepen: nobody desires that. Nobody too will gain if France remains economically depressed for a long time. Yet bending the Pact’s rules further so as to accomodate this country, will once again undermine the credibility of a united Europe. Which is why the challenge of facing up to this crisis does not concern the French government alone; the main countries which have spearheaded up to now the project of union in Europe cannot just stand by.

(6 October 2014)***


300

To get the support ot euro parliamentarians in his bid to become President of the European Commission, or at least the socialist ones, Jean-Claude Juncker made a central promise. He would arrange for the creation of a new investment fund totalling some 300 billion euros. The monies would be spent over three years on projects to create work and stimulate the economy. This would help relieve the effects of austerity which have been undermining European economies. Now that Juncker and his Commission are close to being confirmed in their appointment, questions remain unanswered. How true is it that the promise will be honoured? How true is it that there will be new funds available? How much will come from public funds? Another question arises: how can the promise be implemented if most governments involved must obey EU and euro zone rules that restrict the deficits they can carry in public finance – so that their hands are tied when it comes to extra spending? These are all questions which along with others like them, still await a reply.

(16 October 2014)

***

BARROSO

In his farewell speech to the European Parliament, Manuel Barroso sounded defensive. The ex-President of the European Commission knows that the overall view about the work of the Commission he headed, especially the second

Forecasts 485

one, is not at all positive. He therefore had to labour hard to present a “different” perspective on his achievements. He emphasized that in recent years, Europe has been through some very hard times. He recalled how many had forecasted a general collapse. According to Barroso, not only did such a collapse not happen but the European Union, and indeed the euro zone, is in a much better position than other economic blocs. I did not find Barroso’s arguments so convincing. In the socialist group of the European Parliament, somebody made a very relevant observation. During his speech, the problem of unemployment in Europe was not mentioned once, as if it does not exist. And yet it had been allowed to spread to the extent that it is now becoming a threat to social cohesion in many European countries. Without any doubt, it was a main factor in the “disappointing” outcome of the European elections of last May.

(23 October 2014)

***

BANKS

As part of the process by which the European Union, mainly the euro zone, is introducing a banking union, the leading European banks have been subjected to stress tests. These were meant to determine whether banks are funded well enough to face up to the financial tempests that can still arise. Banks passed the test in greater numbers than had been expected and included those from Malta. Some big names failed (even from Germany, France and Italy) and they will need in a short while to mobilize new capital in order to be considered sound again. One point puzzles me however: over the last five years


some two stress tests were conducted on the same banks. Those who today have failed were then judged positively. This must mean that the tests conducted before are no longer deemed to be sufficiently stringent. So could it happen that quite soon, the same thing might be said about the tests which have just been completed?

(30 October 2014)

***

MORE ON BANKS

Very slowly, more measures have been lined up to continue implementing the banking union that is being established in the European Union. The finalisation of stress tests on the big European banks to investigate their ability to survive some new financial crisis that could emerge was just one initiative in the overall approach being attempted. On the one hand, structures have been laid out to monitor on a European scale the financial performance of banks and to intervene if a bankruptcy looms, in order to ”save” banks at risk, without having to draw governments into the story. This will also require banks to make a new contribution in order to assemble the fund which will help them out when problems arise. On the other hand, rules are being introduced to define the internal operations of banks and of various financial institutions carrying out functions that overlap with those undertaken by banks. For instance, at present the European Parliament is discussing a regulation by which European banks will not be allowed to use funds at their disposal to buy shares and invest directly in other firms. One point that however is being overlooked concerns the

Forecasts 487

extra expenses that these changes will impose on banking enterprises.

(6 November 2014)***

EURO UNCERTAINTY

The euro seems to be edging towards a different kind of uncertainty to the one it experienced three to four years ago. The feeling is that all that needs to be done is being done in order to build institutions that can sustain and defend the euro at a European level. Still something seems to be missing. Despite all the decisions that have been and are still being taken, uncertainty about the future of the euro remains high. How does one account for this? The fact that the economies of diverse countries have fluctuated between stagnation and fragile recoveries which soon evaporate is one main reason. However a more fundamental reason could be emerging from a development that is becoming clearer: there does not exist a consensus among the member countries of the euro zone regarding the steps that need to be taken to achieve a final profile for the monetary area. Such a consensus would enable the euro zone to act coherently as of now in the context of globalisation. It has sidelined too much the fact that citizens live as Europeans in communities that have a profound connection with their national identity. Its leaders are still, explicitly or implicitly, still relying too much on the views of those who have adopted the ideal of a federal Europe.

(24 November 2014)

***


A REMOTE PROBLEM?

The economic stagnation that has persisted in many euro zone countries may appear to be a remote problem and of minor interest to Malta where we have seen a continued increase of new jobs while the economy has grown at a satisfactory to very satisfactory pace. However it would be a mistake to believe that the challenge of how to generate economic recovery in Europe, especially in the euro zone, is of minimal interest to us. It concerns us for two obvious reasons. Our currency is the euro and its international standing depends on how the European economy is progressing. So we experience directly the fluctuations in the currency’s value that follow from this dependence. Additionally, our industry and tourism are closely tied to European markets. If these remain problematic, our sales to them will be negatively affected. In fact, the declines that have occurred in Maltese manufacturing in recent years reflect this relationship. Industrial jobs and European investments in local factories have decreased. Still there is another reason why it is in our interest that European economies take off. When times are difficult, the tendency will grow for states which are facing problems to seek to maximize the financial resources at their disposal. They will do their best to collect all taxes due. For instance, calls are gaining ground for measures to restrain those countries which are serving (so goes the claim) as tax havens. Countries which specialize in financial services, among which Malta, are being targeted. The drive to put new brakes on financial services could become stronger.

(1 December 2014)

(Blogs, di-ve, July - December 2014)

Forecasts 489

46

MAL-KBAR MOD...

B˙ala parti mill-arran©amenti kif tissa˙˙a˙ iΩ-Ωona ewro, kien sar ftehim biex il-ba©its tal-gvernijiet ji©u mg˙arbla mill-Kummissjoni Ewropea u din tiΩgura li jkunu konformi mar-regoli li bihom id-defiçits tal-gvern iridu jinΩammu ta˙t çertu limitu u d-dejn nazzjonali jitraΩΩan. Gvernijiet li ma jla˙˙qux mar-regoli jkollhom jissottomettu ru˙hom g˙al pjan tat-tul sakemm jil˙qu l-miri. Jekk ma jag˙mlux dan, jitg˙abbew b’multi. Sa issa s-sistema ̇ admet b’mod li wie˙ed seta’ jsejja˙lu sodisfaçenti. Il-pajjiΩi li qalg˙u çanfira mill-Kummissjoni Ewropea u kellhom jag˙mlu bidliet fil-politika finanzjarja tag˙hom skont id-direttivi tag˙ha kienu pjuttost Ωg˙ar jew ta’ daqs mezzan. Biss, fost il-pajjiΩi li ma kinux qed ila˙˙qu mal-miri kien hemm Franza li ng˙atat sentejn, tlieta biex tikkore©i ru˙ha. Dis-sena beda jidher çar li Franza mhix se tla˙˙aq mal-weg˙di li g˙amlet. Il-gvern FrançiΩ ammetta li kien se ji©ri hekk, u ddikjara li, min˙abba çirkostanzi eççezzjonali, il-ba©it tal-gvern FrançiΩ se jibqa’ mhux konformi mar-regoli finanzjarji taΩ-Ωona ewro sa tal-anqas sentejn o˙ra. Fl-istess

489


Ωmien, l-Italja kellha quddiemha problema simili g˙alkemm anqas iebsa minn ta’ Franza. Qed tikser ir-regoli mhux fuq id-defiçit li qed tag˙mel; dan qed ikun anqas minn 3 fil-mija tal-ekonomija Taljana kollha kemm hi; imma fuq id-daqs tad-dejn nazzjonali, li hu kbir ˙afna u m’hemmx li jitnaqqas. Kul˙add kien attent biex jara kif il-Kummissjoni se tittratta lil dawn iΩ-Ωew© pajjiΩi, l-aktar Franza li ti©i t-tieni l-akbar ekonomija taΩ-Ωona ewro. Strettament id-deçiΩjoni setg˙et tittie˙ed mill-Kummissjoni ta’ Barroso qabel din temmet il-˙atra tag˙ha. Minflok, iddeçidiet li tg˙id li l-gvernijiet kollha kienu ppreΩentaw ba©its li fl-ewwel eΩami li sarulhom dehru mhumiex jiksru b’mod lampanti r-regoli taΩ-Ωona. Biss qalet ukoll li se t˙alli d-deçiΩjoni a˙˙arija g˙all-Kummissjoni ta’ warajha. Il-Kummissjoni ta’ Juncker qablet li l-ma©©oranza tal-ba©its imressqa mill-gvernijiet g˙andhom ji©u aççettati; dwar xi w˙ud, fosthom ta’ Malta, wissiet li se tibqa’ attenta g˙ax mhix sodisfatta g˙alkollox. Dwar Franza u l-Italja ˙abbret li se tipposponi d-deçiΩjoni finali sa Marzu li ©ej ˙alli jkollha f’idejha, meta tag˙mel hekk, iç-çifri finali dwar l-andament ekonomiku u finanzjarju taΩ-Ωew© pajjiΩi. Malajr qam l-argument: mal-kbar jimxu mod, u maΩ-Ωg˙ar mod ie˙or... Il-Kummissjoni ça˙det li dan kien il-kaΩ.

MOSCOVICI JIÇÓAD

Meta l-Kummissarju Moscovici ©ie biex jindirizza l-kumitat ekonomiku u finanzjarju tal-Parlament Ewropew qala’ taptipa sew. Diversi interventi saru minn deputati li xejn ma emmnu li d-deçiΩjoni posposta dwar Franza tal-Kummissjoni kienet ©enwina. L-akkuΩa saret kemm-il

Mal-kbar mod… 491

darba li l-Kummissjoni qed tibqa’ lura milli tie˙u passi, g˙ax Franza hi kbira wisq. Personalment, m’g˙andix dubju li dik hi l-vera ra©uni. Kieku kienet Malta minflok Franza, ˙oll xag˙rek u ©ib iΩ-Ωejt. It-twe©ibiet li ta Moscovici ma tantx kienu konvinçenti. PereΩempju, l-argument li l-Kummissjoni fehmet kif ikun a˙jar tistenna r-riΩultati finali ta’ kif is-sena finanzjarja �014 se tkun spiççat verament, deherli pwerili. B˙allikieku l-istess argument ma jg˙oddx g˙all-pajjiΩi kollha, mhux Franza biss. Min-na˙a l-o˙ra, il-gvernijiet ta’ Franza u tal-Italja b˙alissa huma ta’ tendenza soçjalista u ma n˙ossnix komdu, fil-kumitat ekonomiku u finanzjarju li tieg˙u jien membru fil-Parlament Ewropew, nag˙mel kritika lejn is-soçjalisti ta’ hemm, speçjalment Franza. Anki meta ma qbilniex bejnietna dwar politika Ewropea, is-soçjalisti FrançiΩi baqg˙u jag˙tuna l-appo©© tag˙hom b˙ala soçjalisti. Qed nitkellem dwar Ωminijiet li ilhom li g˙addew. Imma bqajt niftakar u napprezza.

(It-Torça, 07 ta’ Diçembru 2014)


47

A EUROPE OF NATIONS

Contrary to what is being stated, in the operation of aid funds set under the annual budget, the EU is implementing a one-size-fits-all approach – the same measure is being applied to all. I will refer to two examples from Malta’s experience, the smallest member state, and an island. After Malta, other countries joined the EU. This had the statistical effect of lowering the EU’s average GDP per capita and with that Malta lost its right to certain structural funds. To compensate for this new reality, the Maltese Government negotiated and obtained additional financing under the current budgetary perspective. However, the expectation is that EU state aid rules will prevent SMEs from benefiting from these funds. Allowing for common sense to prevail, the same rules would not apply to such funds. Secondly, we have the case of Gozo, an island smaller than Malta, with its own special features and identity. Due to its dual insularity, Gozo lags behind. In order to develop, the island needs regional management.

49�

A Europe of nations 493

In an absurd comparison with Scandinavian islands, the Commission decided against Gozo being considered an island with such needs. In the execution of the EU budget and the use of EU funds, a basic principle of what shapes Europe is being forgotten - namely, the principle of a Europe of nations. Therefore my vote is conditioned by the strongest reservations.

(European Parliament – Explanation of vote on the general budget of the EU for financial year 2015, 22 October 2014)

***

A DESIRE FOR CHANGE

In May, European citizens showed that they desired a change in the direction of Europe. Perhaps, they also wanted this Parliament to give the signal for change. Nearly six months after the European elections, I ask: is the change that our constituents desired actually happening? I would say not. I expected to attend here clear debates about what the people of Europe are expecting. About where in recent years we made good decisions, and where we made mistakes in the management of the European Union and the euro zone. I expected questions about how European unity is, for both good and bad, affecting the lives of the citizens who elected us, so that where change is needed, it is carried out. Instead, we seem to have gone on with business-as-usual, as before May. Few people in my country have understood the manoeuvres that led to the appointment


Addressing the European Parliament in Strasbourg.


of President of commissions, committees and delegations and whatever else. Few care. The arguments for more or less Europe leave citizens at a loss about what is creating economic stagnation and high unemployment. We are not debating why the European social model is being dismantled, nor how we can develop a serious policy on immigration. That agenda has been hijacked by political extremes and the so-called populists. This is a huge failure. The challenges being faced by Europeans citizens will not be overcome with the technocratic jargon we listen to, as if we all were officials of the International Monetary Fund. Challenges will be overcome only as a result of straight political talk between the representatives of European citizens. This should include a deep discussion on whether the political structures built by our predecessors are adequately responding to the needs of Europeans.

(European Parliament – Speech, 12 November 2014)

***

QUESTION AND ANSWER

ALFRED SANT: Let me start by expressing my admiration for the way by which you have balanced the contradictory political calls on the decisions you needed to take. You took them with determination and clarity. You hold no elective political responsibilities, neither national nor European. Yet you are called to take decisions that have huge political repercussions and you have made statements with deep political significance. It has also


happened that political decision makers wait to take their cue from you when they want changes to the direction of the euro area. You lead a central bank that has limited powers compared to those of equivalent institutions worldwide, so that you have been constrained to rely on declaratory statements that arguably exceed your powers in order to meet with emerging problems. You have been successful in this but increasingly less so. You have advocated as a matter of urgency, the strengthening of the euro zone’s monetary institutions not least by a deepening of economic and monetary union. This should mean federalization of the euro zone’s transnational political structures. Yet it runs counter to a further paradox: while European peoples are in favour of the euro, they do not approve a federated Europe. Meanwhile, economic divergences within countries and regions have been growing not declining. Deepening emu under such conditions will likely accelerate divergences. From a strategic perspective, should these contradictions be tolerated for much longer? Up to now, most policy options adopted have hardly been better than muddling through. Has the time come for a strategic reappraisal of the options available for future development of the euro zone, given too that consistently it has been underperforming economically compared to other monetary areas?

MARIO DRAGHI: Well, thanks first of all for the many compliments that you have addressed to the ECB... It is actually a compliment that should go to the founding fathers of this policy framework more than to the current members. Let me add to you that we are extremely careful to express


ourselves within our mandate. There are several aspects of our policies, of the policies of other subjects that affect either financial stability, and or firstly, actually price stability. In this sense the ECB has and must speak out. Let me just make one point perhaps in responding to one of your most important observations: where you have said that deepening the European monetary union would accelerate divergences between countries. Now, we surely agree that the euro area has to grow more, the current performance is dismal and the unemployment rate is unacceptably high and within it, the youth percentage of unemployment is also quite, quite I would say socially unacceptable. So we agree the euro area has to grow more. But do you really think that it does not grow because of the euro? That’s where I think I find hard to following the statement, the reasoning. If we look at the last quarter GDP data, we see that fourteen countries show positive growth – for some of them it is between 2-4 percent on an annual rate. We see two countries in recession and we see two countries, if I am not mistaken, in stagnation. Thank you.

(The European Parliament – Economic and financial committee, Exchange of views with Mr Mario Draghi, President of the ECB, 17 November 2014)

***

ON INVESTMENTS AND GROWTH TARGETS

The truth is that the investment rate in the European Union had been decreasing well before the �008 crisis.


Following this crisis, stagnation continued to spread. The truth is that to reach higher levels of competitivity in order to create new jobs, we find ourselves in a system in which internal devaluation has become the most effective tool. Proponents of labour market flexibility and the modernization of social security systems are in reality promoting such devaluation. This process undermines the European social model – a model by which public authorities on the one hand guarantee freedom to private enterprise, while on the other hand they ensure protection to the people as workers and citizens. Today, in order to give a boost to the European economy, the aim has become that of chipping away at the European social model, if not dismantling it completely. The peoples of Europe do not want this. Actually, where the European social model is being abandoned, competitiveness is still not being enhanced. The truth is that the European economy is not

Mario Draghi at a meeting of the E.P.’s Economic and Financial Committee for an exchange of views.


succeeding to deal with and manage (the phenomenon of) globalisation. Given the way globalisation has developed, it became incompatible with the European social model unless buffered and substantially adapted. The present resolution ignores this dilemma. The structures that have been established to ensure the competitiveness of member states are too complicated, too bureaucratic. Up to now, they have really been a failure. In all this, it will be unacceptable if we seem to be agreeing that the European social model should be curtailed or swept aside. Rightly so, European citizens will disagree.

(European Parliament – Speech in the debate on the implementation of 2014 priorities in the European semester for economic co-ordination. 21 November 2014)

***

THE IMPACT OF THE BANKING UNION

In reforms being introduced as part of the banking union, we need to give more attention to the impact that the ongoing changes will have on operating costs of banks and on banks’ propensity to lend. Necessary as they are from a certain perspective, current bank regulation proposals will inevitably raise operational costs. So will the measure by which the European Central Bank will hold new powers to impose sanctions. The measures could also make banks think twice before they lend on projects that they might consider to be problematic under the new circumstances. So, costs to lenders could increase even as the latter will find it more difficult than before to raise project funds.


This is hardly the time to raise lending costs or to promote more risk averseness in the banking system. A balance must be kept between the need for banking institutions to be run prudently and transparently, and that other need for banks to respond quickly and efficiently to project proposals. Is this balance being reached at European level? The question remains open. My vote is tied to the reservations above.

(European Parliament – Explanation of vote on resolution regarding the powers of the European Central Bank to impose sanctions, 26 November 2014)

***

NATIONAL AND EURO ZONE INTERESTS IN CONTRAST

The six and two pack arrangements are meant to ensure that euro zone guidelines are being observed. They provide a calibrated and measured approach by which to assess economic and financial outcomes. However there is no unified central directing function within the euro zone project. One must query whether the assurance that we have (about the respect of guidelines) is sufficiently robust. For as of now, at the heart of the project, political factors still predominate. They relate to the huge political capital that has been expended on the project. They follow from the multilateral give and take between major actors that are responding to varying and non-convergent national interests. The positivist superstructure of benchmarks, scorecards


and what have you that has been grafted on the project, serves to screen this reality. Perhaps too it is only dealing with the symptoms rather than with the real causes that power the euro project. Changing the operations of the euro zone to make them more transparent would, given the existing profile of the zone, require a sharp move towards a political federal structure, a move which appears to be quite difficult. So, as the six-pack, two-pack and other instruments are applied, a very simple question arises: do the mechanisms being deployed, at all levels, to different national economies, respond to the overall interests of survival and growth of the euro zone as a whole, or do they reflect the national interest of each member state? It is not possible to provide an unambiguous reply to such a question. This impossibility reflects a deep and systemic flaw in the purpose and design of current mechanisms, developed as they have been on a trial and error method through diplomatic bargaining. As such, I very much fear that economic governance of the euro zone will remain an inherently unstable business.

(European Parliament – Intervention in the debate on the economic governance review of the “6 pack” and “2 pack” regulations, 16 December 2014)

***

THE ABSORPTION RATE OF CAPITAL PROJECTS

We debate whether the new strategic fund proposed by the Juncker Commission will trigger new economic activity. The budget before us today equally contains investment funds.


And it is important to ensure that these are mobilised efficiently. The record on investment disbursements from the budget is unsatisfactory, absorption of funds low, and delay in project implementation the rule. One reason for this has been the burdensome rules to vet, approve and implement projects. A case in point is roadwork contracts in Malta. Though miniscule by European standards, they were subject to Brussels-based contract preparation and award rules even when their size makes them unattractive to outside contractors. That lack of interest delays project preparation. Meanwhile, the need to follow to the letter Brussels-based procedures creates problems of compliance for small-scale Maltese contractors. So, projects are delayed. Costs escalate. As the end of the pluriannual budget period approaches, roadworks are rushed and bunched together, leading to traffic congestion, faulty workmanship and cost overruns. It is imperative to raise the absorption rate of capital projects funded by the EU budget. The dilution of one-size-fits-all policies and a more stringent application of the principle of subsidiarity need to become real priorities.

(European Parliament – Contribution to the debate on the new general budget of the EU for financial year 2015, 16 December 2014)

***


POLITICAL DYNAMICS

A banking union should serve to create transparency of operations across banks in the union while shielding national governments from the burden of bailouts if their big banks collapse. Theoretically, all banks would need to be treated equally, subject to the particular conditions of their national economic environment. However, the Resolution Board will inevitably be coloured by political considerations of a multilateral nature, as is happening now in the European Central Bank. Quite likely, the political dynamics of the Resolution Board will hardly be different from those of the eurogroup when say the latter was dealing with southern European countries. Not all banks will be equal. Least able to counter such considerations will be the banking systems of medium to small member states, especially in economies where financial services have become a significant sector. We need to ensure that smaller banks within the smaller economies do not become more risk averse by inhibiting their exposure to financial services in their national economy, and more importantly when lending to SMEs,while becoming less competitive. I voted in favour of the motion but would like to subject my vote to the above reservations.

(European Parliament – Explanation of vote on the resolution to appoint the members of the Single Resolution Board – the European authority established to bailout banks as necessary, 16 December 2014)

***


OBJECTIVE AND COMPARABLE?

Traditional own resources are assessed on the basis of what appear to be objective measurements of tax resources and general economic outputs. The underlying assumption is that the methodologies deployed to gather data are fit for purpose across all member states of the EU in a comparable manner. It is necessary to continually review this assumption. For example, are estimations of services inputs across economies really comparable when ranging from larger countries to the smallest like Malta? And from countries with the largest reliance on services to those with the smallest? Similarly, estimates and time phasing of re-exports in national accounts have little importance for larger countries, but could distort the picture enormously for the smallest ones. Meanwhile, despite the pretence, current data about public revenues and expenditures are still far from being measured on an accruals basis. What’s more, criteria used make no allowance for the fact that some tax structures, like VAT, carry a higher fixed cost per capita for smaller states than for larger ones. The use of so-called objective criteria and data give the impression that the allocation of contributions is a fair distribution of burdens among member states. It may be a mistaken impression.

(European Parliament – Contribution to the debate on a resolution regarding revisions of the forecast of traditional own resources, 17 December 2014)

(European Parliament, October – December 2014)


48

IT’S NOT MOVING

…There is a big cleavage in this (Economic and Financial) Committee of the European Parliament between two ways of handling the economic crisis. On the one hand, there is the predominant push towards fiscal consolidation. On the other, there is the approach of working towards expansionary policies. We don’t agree on this: the majority wants fiscal consolidation and thinks that’s the way forward; quite a big minority says the contrary, and wants to focus on expansion first. In order to move forward we have to accept that there is such a cleavage. But we also have to accept the fact that we are not just technocrats. People expect from us a political response to reflect the fact that as shown in the last European parliamentary election, there is a big dissatisfaction with the way by which the European economy is developing. So I believe that in our reaction to the Commission’s Annual Growth Survey for �015 we have to reflect that dissatisfaction. There are facts that we agree upon. For instance we agree that economic growth rates in Europe are suboptimal

505


and have been like this for a number of years. We agree that unemployment is too high. We agree that investment, public and private, has stayed too low. Where we disagree is how to interpret what has been happening and how to deal with the situation. I would therefore like to make some general remarks in this context. First of all, if one looks at the euro zone from a long term perspective, one has to conclude that it is not an optimal monetary zone and has been the object of an ongoing political process by which we have tried to compensate for the problem. Yet, economic divergence has actually increased over the last few years rather than decreased, in spite of the compensatory mechanisms that have been introduced. This is something we have to accept as factual; it affects how we should understand and interpret what the Commission is proposing in its growth surveys. We lack the centralising focus of a monetary union and an attempt has been made to compensate for that by discretionary mechanisms that are politically controlled, like the annual review process of economic developments in Europe (that we are now conducting): which too we have to accept as a political process. Has there been a major development in the process we are following? Or is the European Commission still proposing the same solutions? True, we now are talking about three pillars for economic strategy in Europe (fiscal consolidation, structural reforms and new investments). But fiscal consolidation has stayed and is going to stay as the primary tool of cohesion. We are still trying to steer according to its criteria on the basis of a

It’s not moving 507

number of measures, score boards, what have you. It’s quite a positivist approach to the problem. We have created the tools, the instruments, the measures by which to calculate how things can be steered towards a certain direction and one takes decisions on that basis. But we are not in control of the situation. One reason for that actually is that the markers we use are historically determined. They relate to a situation which goes back quite a number of years. When we talk about 3 percent of GDP as a measure of how deficits go askew, that refers to a reality that goes back twenty two years. Therefore the problem could be that the instruments that we are working with are not good enough. They are being implanted in the surveys that we consult and they are giving us wrong results. They are giving us faulty indications on which to act. I’ve looked at the autumn forecasts made by the Commission since �009. Every year the autumn forecast projects economic growth forward for three years. So looking

Martin Schultz – Jean-Claude Juncker.


back at the year �011, three successive annual growth forecasts were made for it: 1.5. 1.5, 1.5 per cent. The actual was 1.4. If you look at the three autumn forecasts for growth in �01� – the first forecast started at 1.8 per cent, the next went down to 0.5 percent and the end forecast was minus 0.4 percent. The actual ended up at minus 0.7 percent. If you look at the �013 forecast – starting at 1.3 percent growth, it went down to 0.1 percent, then to minus 0.4. The actual outturn was minus 0.5percent. ...We think we have the measures by which to understand what’s developing but we don’t really. The instruments we use need to be audited and critically considered but we are not doing that. So all the time, even when we talk for instance about fiscal consolidation (for which there is a necessity), in reality we are referring to an internal devaluation, which is politically and socially very dangerous while being economically ineffective. This is the real problem. Which is why then, when in this Committee we start interpreting events, we differ. It is not just a question of making a technocratic assessment. There has to be a political assessment. What does internal devaluation mean? It means this: that the euro zone has locked itself into a situation where, to remain competitive, through internal devaluation, it’s eroding the social model on which Europe is based. There is no other way out. To become competitive the (European) social model needs to be scaled down. That is of course a trap, because it undermines social cohesion. Are we on the right track? The European Commission is basically telling us yes. Some of our (Committee) members are telling us yes.


You look at the policy that has been followed for these past three to four years, and you ask has the economy been moving? They tell us: yes it’s going to move, it’s moving. I recall (the story of a man called) Galileo, back in the times of the Counter Reformation. He understood that the sun doesn’t go round the earth but the earth moves round the sun. He had to accept however that he was wrong – but then under his breath, he also said eppur si muove: “it still moves”. Well regarding the European economy as it is now, they tell us it’s going to move, it’s moving. Eppur non si muove: it’s not moving.

(European Parliament, Economic and Financial Committee – Remarks (edited) as shadow rapporteur on the first presentation of the draft report on the European Commission’s “Annual Growth Survey 2015”, 08 January 2015)

***

TOO BIG TO FAIL

In recent years we have built a strong security structure for the euro zone. It is operating through a battery of instruments designed to monitor the economic and financial strengths of member states and to keep their economic and financial results within desired parameters. This has given the impression that things are under better control. Why is it then that a development that supposedly is of relatively low importance to the zone, like the Greek election, gives rise to great concern? The euro project is a political one. Precisely for this reason, it has become too important to be allowed to fail. This remains its main strength. And its main weakness.


The project has been built on the basis of the enormous soft power that the European Union enjoys. But right from the start, the euro zone was not an optimal monetary zone; it did not possess the federal structures necessary to keep it solid. Over the years, economic divergences inside it increased. The use of a technical positivism to control the situation is turning into an exercise of political fetishism which could undermine the union’s soft power. Many of the euro zone’s guidelines depend on outdated premises. They have to be renewed politically, not technically.

(European Parliament, Speech, 12 January 2015)

***

WILL IT MAKE A DIFFERENCE?

The European Commission work programme �015 is condensed and to the point. As such, it can only be welcome. The programme also rightly acknowledges the need for urgent action to stimulate new investment. The question remains whether the proposal to set up a new strategic investment fund can make much difference. The fund is being built out of monies that have already been appropriated. They will be jacked up by private commitments, still to materialize, up to a total envelope of 315 billion euros. In reality no fresh money is involved. Yet the need for a substantial injection of investment funds is most urgent. Contrast this with the $ 788 billion fund voted by the Obama administration in the US covering the years �009 - �011 under the American Recovery and Reinvestment Act of �009. Of this amount, $ ��4 billion went as grants to the states.


Clearly, the strategic fund proposed in the Commission programme is too little, and comes too late. I hope that those of us who believe so will be proved wrong. My vote in favour of the work programme is conditioned by the above reflections.

(European Parliament, Explanation of vote on a resolution regarding the EC work programme for 2015, 16 January 2015)

***

PUBLIC INVESTMENT AND RECURRENT EXPENDITURES

Under the rules of the Stability and Growth Pact, a major target is for member states’ budget to aim for balance, or at worst an annual deficit of less than 3 percent of GDP. It is up to the individual governments to decide how to achieve this result. The claim is made that governmental accounts are being prepared on the basis of accruals, according to Eurostat methodology. The truth however is that most budgets are not worked out on an accruals basis, but on a cash basis. From an accounting perspective, a euro spent on investment in a given year is given the same weighting as every euro spent on recurrent expenditures. Yet it is clear that a euro spent on investment has a completely different economic significance to a euro spent on social transfers for instance, or payment of public salaries. As a result, in complying with SGP rules, governments are finding it technically easier and politically more


expedient to cut investment rather than trim recurrent outlays in order to manage their expenditures. The European Commission in its Annual Growth Survey has more than once highlighted the problem. We have been for some time now deploring the drop in public (and private) investment in Europe. It may be an unintended consequence of the SGP rules, yet when applying them member states are actually being incentivated to cut back on investment. The irony is that for the soon-to-be-established Juncker fund, in order to get governments to participate in it, the European Commission is rightly proposing that expenditures contracted to make financial contributions to the Strategic Investment Fund will be excluded from consideration under SGP rules. Surely the same logic should at least apply in the case of incremental public investment that national governments undertake in their own economies.

(European Parliament, Speech during a joint meeting with national Parliaments on Stability and Growth Pact rules, 4 February 2015)

***

BEYOND BRINKMANSHIP

The informal European Council of 1� February �015 has really two items on its agenda – the situation in the Ukraine and Greece. The latter could be as dangerous as the former, unless it is treated with farsightedness. At the initial stages of negotiations with Greece, if any take place, brinkmanship could fast become the order of


the day. If taken too far, this could lead to an unforgivable collapse. Governments which have lent billions of their citizens’ monies cannot be expected to write off those amounts overnight. However the people of Greece cannot be expected to give up for too long the prospects of a decent life. They only have one life to live. The bailout plan for Greece has not worked. It has imposed too many sufferings on the Greek people. Therefore it must be radically restructured. Perhaps too the euro zone has to be restructured over the medium term even if this will initially appear to be a weakening of the EU’s immense soft power in Europe and elsewhere. If negotiations with Greece are to go beyond brinkmanship, the values that must be asserted need to go beyond technical considerations to tap the sources of a meaningful solidarity.

(European Parliament, Intervention in the debate on the informal European Council of February 2015, 11 February 2015)

***CUI BONO?

As shadow rapporteur for the S&D (on the European Commission’s Annual Growth Survey for �015), my thanks go to our rapporteur Mr Rosati for his proactive initiatives and to the other shadow rapporteurs for their stimulating inputs. At the start of our exercise, I had characterised our point of departure as one where two different appreciations


of the economic realities in Europe prevailed. On the one hand, there are those among us who believe that fiscal consolidation plus so-called structural reforms are indispensable in and by themselves to generate the growth we all believe is indispensable for Europe. On the other hand there are those, among whom I count myself, who believe that fiscal and financial stimulus has become imperative if European economies are to start rolling. In the past few weeks, I could confirm that this assessment about our state of mind as a committee is very close to the truth. So much so that frankly I’m a bit surprised we found scope for quite a number of compromises in trying to work towards a final text. The reason for this may be that we did try to relate statements as much as possible to facts rather than leave them hanging out as isolated prescriptive conclusions. Also

The head of the S&D Gianni Pittella with Alfred Sant, Miriam Dalli and Marlene Mizzi.


if expressed in a certain way, without losing their meaning, the different positions cannot be seen as necessarily mutually exclusive. There has been, and still is a certain amount of terminological drift. For instance on the meaning of “structural reforms”. I am one of those who believe in the need for them, but they must be of a certain kind, certainly not related at all to a dilution or erosion of the European social model. Some of us believe this is necessary by way of rollbacks on minimum wages, containment of pension entitlements, or reduction of social benefits. These I am totally against. But where structural reforms refer to elimination of monopolies, freer access to the provision of services, curtailment and digitalisation of government bureaucracy, incentivising those who produce, streamlining public procurement practices, the encouragement of public-private partnerships – such structural reforms should be given full support. Naturally the ambiguity in defining what some concepts we bandy about with much ease relate to, has been helpful in achieving textual compromise on the draft we have before us. However, I wonder whether it will be equally helpful in the quest for economic and social convergence. The Annual Growth Survey (AGS) exercise is a useful one in terms of the European semester. It gives us an opportunity to assess how national policies are shaping up and how they are contributing to the overall development of the European economy as a whole. Still, we lack a comprehensive framework within which to launch policies that counteract national and regional divergences. The approach has been, still is, to make incremental improvements to the economic governance


framework. The hope is that eventually the steps taken will compensate for the structural economic and political deficiencies of the European economy that we would all like to see grow much more strongly than it has been doing in recent years. The dogma of fiscal consolidation has become a policy formula that defines changes in the guidance and surveillance system by which national economic policies are implemented. The results have not been brilliant. Admittedly as this report, as amended, illustrates, it is also a question of whether one judges whether a glass is half empty or half full. Things could have been much worse. At least we now acknowledge on left and right that the current rules as drafted have to be applied with flexibility in the light of changing economic conditions especially in the context of globalisation. That has been a very useful development that needs to be affirmed further. But matters certainly have not improved as swiftly in Europe as they have in the US or elsewhere. Why is this? As we approach the end of the AGS exercise, I do not think we have a clear reply. Events in Greece show that a popular rebuttal of our approach can achieve democratic success. We are here as politicians not as economic experts. In all honesty, we should admit that the choice made by the Greek electorate could mobilise other electorates to take decisions that go in the same direction, no matter what happens to the current negotiations with the new Greek government. In my view, they would be right to do so. We should beware that all too soon, the question that could arise among the peoples of Europe would be: all this


is to the benefit of who? Cui bono? That would be a very divisive question. It would mobilise contrasting perspectives from north and south, east and west. It would strain the coherence of the exercise we are working on with the AGS of the European semester. I apologise if I have taken your time with considerations that appear distant from the goals of the exercise we have at hand. To be frank, I’m not convinced that such points as I have raised should be considered to be so distant from our goals in the current exercise. The tools we have at hand, including those that are being envisaged for the foreseeable future, are not sufficient to tackle the economic and social divergences that were always there and now seem to be growing. The basic challenge in this regard is political. This should be evident to those who, whether on the left or the right, look at the document we will be voting on regarding the annual growth survey covering our member states.

(European Parliament, Economic and Financial Committee – Remarks as shadow rapporteur on the final presentation of the draft report on the European Commission’s Annual Growth Survey 2015, 24 February 2015)

***

A SUBSTANTIAL POLITICAL POWER

Faced with the facts, it’s difficult not to conclude that the European Central Bank has become the most successful institution of the euro system. It certainly has been the most prepared to launch initiatives meant to counter economic stagnation in Europe. These covered a truly pan-European


perspective and not just a national one. Which made them harder to define; more difficult to get agreement about; and even more difficult to implement and assess. Under the Bank’s current president, but also his predecessor, the Bank took decisions that provided leadership to the eurosystem. Some decisions were controversial – still are. But they needed to be taken. I am one of those who agree with the decisons of the past few years. However it has become obvious that the European Central Bank has accumulated substantial political power, even if it restricts itself to technocratic discourse. One could claim that this power exceeds the mandate given to it under the existing treaties. That power will be widening as a result of the responsibilties entrusted to the Bank under the provisions of the banking union. Nor do the Bank’s leaders have to deal with a countervailing power at par with that of the U.S. Treasury in the dollar monetary system. The quality of the ECB’s decision making is not the issue. But it is a question of asking whether a power vacuum has been allowed to develop in euro monetary decision making; whether this vacuum has been occupied by the European Investment Bank; whether this is a good idea; and whether, in the interests of democratic accountability, we should seek to balance better the political power secured by the European Central Bank.

(European Parliament, Speech in the debate on the European Central Bank’s Annual Report for 2013,25 February 2015)

***


CONFEDERATION

The European Convention of some twelve years ago was intended to establish a constitution for Europe. In the event, the constitution was rejected in the countries of Europe which had led moves towards ever closer union. Meanwhile, monetary union had been established in the absence of an economic union. It carried wide divergencies between its nation state components. In recent years, the euro zone experienced a recession that exposed its deficient structures. Arrangements were introduced to prop it up and keep it competitive in a globalised framework. Still, within the monetary union, we lack a central fiscal mechanism that balances divergences between centre and periphery through transfers from center to periphery. Interventions by the European Central Bank that probably go beyond the Bank’s legal remit saved the monetary union from paralysis. Ironically, the unelected leaders of the Bank have called for political developments that would make the monetary union more fit for purpose. Still, the fact remains that European peoples do not want a federal solution. They want a Europe of the nations. Many among us here believe that this is theory. They prefer to improve an economic governance that props the already existing management structures. How to respect what the peoples want, while satisfying the requirements of an effective monetary union between democratic nations: that is the challenge. It can only be met by developing confederal structures within the euro zone as a whole.

(European Parliament, Speech, 25 February 2015)

***


HOPE AND UNEASE

The analyses and conclusions in the Annual Growth Survey (made by the European Commission for �015) are well inline with the parameters of the Stability and Growth Pact. However, I must register some unease at aspects of our proceedings. As of now, we lack a real understanding as to why the economic performance of national economies has remained so dull, indeed stagnant. Similarly we cannot grasp the real reason why the investment gap in the euro zone has remained so significant. True: we see glimmers of growth now and wish for the best. Rightly much emphasis is being placed on the flexibility that is presently being read into SGP rules. The too rigid application of these rules has been counterproductive. Let us hope that flexibility will be applied equally and fairly to all economies, not just the bigger ones. So let me repeat that structural reforms are necessary but (as I said elsewhere), they do not, should not mean an erosion of the European social model. Where structural reforms refer to elimination of monopolies, freer access to the provision of services, curtailment and digitalisation of government bueaucracy, incentivising those who produce, streamlining public procurement practices, the encouragement of public-private partnerships – such reforms should be given full support. Yet, it seems to me that we still do not have a viable approach to tackle regional and national divergences within the euro zone, and they have been increasing. I am uneasy because having a nineteen economy system

It’s not moving 5�1

working to the model of quasi-balance in all national budgets is not axiomatically the optimal way to run a currency area. Yes, we have jargon laden discourse to correct for so-called macroeconomic imbalances. But there is a vagueness about how to implement corrective action on its basis. There still is no valid reply to the question: are country specific recommendations designed to satisfy euro zone or national priorities? Therefore I am not toosurprised that so many CSRs are ignored by national parliaments and governments. In the absence of a central treasury to regulate transfers between centre and periphery much of the exercise that we are carrying out could be compared to that of a circus performer on a high rope juggling with nineteen balls. Of course in order to succeed, even such a juggling operation needs commitment, discipline and a high level of competence.

(European Parliament, Speech in the debate on the resolution regarding the Annual Growth Survey for 2015, 11 March 2015)

(European Parliament, January – March 2015)


49

LURA LEJN IL-BIDU?

G˙al min i˙ares minn barra lejn x’qed ji©ri bejn il-Greçja u l-pajjiΩi “s˙abha” fiΩ-Ωona ewro, l-impressjoni tkun li er©ajna ninsabu fil-bidu tal-kriΩi tal-ewro mal-˙ames snin ilu. F’dak iΩ-Ωmien ukoll, il-Greçja kienet f’xifer il-falliment g˙ax il-gvern ma setax jibqa’ j©orr il-piΩijiet tad-djun li kien twikka bihom. Min˙abba l-kriΩi finanzjarja tas-sena �008, l-img˙axijiet fuq dawn id-djun kien sploda ’l fuq u faqa’ l-ba©it tal-gvern. G˙all-ewwel beda jintqal li, skont ir-regoli li fuqhom kienet imsejsa Ω-Ωona ewro, il-Griegi kellhom isolvu l-problemi tag˙hom wa˙idhom. Imbag˙ad il-fehma nbidlet u l-membri l-o˙ra taΩ-Ωona bdew isellfu l-flus fil-biljuni lill-Greçja biex iΩommuha fil-wiçç. Illum, minkejja dawn l-interventi, mill-©did il-Greçja tinsab daharha mal-˙ajt. Il-gvern ©did tas-SiriΩa sostna li ma jistax ikompli g˙addej bil-ftehimiet li saru f’rabta mas-self li l-Ewropej taw lill-Greçja g˙ax il-poplu jinsab wisq img˙affe© b’piΩijiet. Beda jinsisti li s-self li sar lil pajjiΩu jin˙afer jew jit˙affef bil-kbir, waqt li ried iwettaq riformi soçjali ma˙suba biex jg˙inu liΩ-Ωg˙ar, lill-pensjonanti u

5��

Lura lejn il-bidu? 5�3

lill-˙addiema. L-Ewropej wie©bu li dan ma jistax ikun g˙ax il-Greçja trid tonora l-obbligi li da˙let g˙alihom. U f’daqqa wa˙da, iΩ-Ωona ewro dehret li da˙let fi kriΩi ©dida, bil-Greçja l-perçimes. Veru li donna ninsabu lura fil-bidu tal-gwaj li g˙addiet minnu Ω-Ωona ewro fl-a˙˙ar snin. Biss, il-qag˙da sadattant inbidlet g˙alkollox, kif inbidlu wkoll iç-çirkostanzi li madwarhom qed jippernja dan l-a˙˙ar episodju Grieg. Tajjeb li wie˙ed jara kif u g˙aliex inbidlu l-affarijiet.

X’ÌARA FIL-GREÇJA

L-ewwelnett, fil-Greçja nnifisha: skont il-ftehimiet ta’ self li g˙amlet mal-pajjiΩi Ewropej, din ing˙atat flus biex tifdi s-self il-qadim u tibdlu f’dejn mal-Ewropej b’img˙ax li setg˙et i©©orr. Min-na˙a tag˙ha, il-Greçja ntrabtet li tie˙u miΩuri qawwija biex i©©ib bilanç fil-ba©it tal-gvern, billi tnaqqas l-ispejjeΩ, ti©bor aktar taxxi u tbig˙ assi u proprjetajiet pubbliçi. Kienu miΩuri iebsa li mill-bidu ˙olqu diffikultajiet politiçi kbar g˙all-gvernijiet tal-©urnata u wara, problemi soçjali enormi. G˙al darba, darbtejn, instab li xorta wa˙da l-Greçja ma kinitx qed tla˙˙aq mal-piΩijiet tad-djun. L-Ewropej qablu li jtawlu Ω-Ωmien li fih il-Greçja kellha t˙allas lura s-self mog˙ti lilha, waqt li anki l-img˙axijiet fuq is-self tnaqqsulha. Min-na˙a tieg˙u l-gvern Grieg – l-ewwel tal-PASOK soçjal-demokratiku, immexxi minn George Papandreou, imbag˙ad tad-Demokrazija Ìdida, partit lemini, immexxi minn Antonis Samaris, f’koalizzjoni mal-PASOK – beda jara kif se jwettaq ir-riformi li kienu marbuta mas-self Ewropew. Aktar sabha ˙a©a façli li jaqta’ l-ispejjeΩ, speçjalment fil-qasam soçjali. Ìew affettwati ˙aΩin pensjonijiet, pagi u


servizzi soçjali li tnaqqsu, ©ieli bil-qawwi. Tkeççew ̇ addiema minn mal-gvern. Ûdiedu t-taxxi u bdew isiru sforzi li ma tantx irnexxew biex jin©abru b’aktar galbu. Ma tantx sar progress fil-˙idma biex ji©u mibjug˙a assi tal-gvern waqt li l-kontrolli fuq l-evaΩjoni tat-taxxa baqg˙u lura sew. B˙ala riΩultat ta’ dan kollu, id-defiçit tal-gvern fl-a˙˙ar snin naqas qatig˙ u beda jing˙eleb g˙alkollox, qabel tibda tg˙odd il-piΩ tal-img˙axijiet li jridu jit˙allsu. Biex jaslu sa hawn, ˙afna çittadini Griegi – fosthom l-aktar dawk bi d˙ul baxx imma anki l-klassi medja – ˙allsu prezz tassew g˙oli. Il-faqar Ωdied bil-kbir; in-numru ta’ nies qieg˙da mhux l-anqas fost iΩ-Ωg˙aΩag˙, g˙ola u baqa’ g˙oli ˙afna; is-servizzi soçjali sfaw mherrija; ˙afna pensjonanti spiççaw fixxa. Biex tag˙qad fl-a˙˙ar snin, min˙abba wkoll li tnaqqset in-nefqa tal-gvern, l-ekonomija çkienet bi kwart.

Il-Prim Ministru Grieg Alexis Tsipras ma’ mexxejja tal-UE, fi Brussell.


U min˙abba f’hekk riΩultat ie˙or kien li matul is-snin li twettaq il-ftehim ta’ salvata©© g˙all-Greçja, il-piΩ tad-djun baqa’ jiΩdied minflok çkien. Fejn g˙all-bidu d-djun kienu jammontaw g˙al xi 1�5 fil-mija tal-ekonomija kollha tal-pajjiΩ, illum id-djun telg˙u g˙al aktar minn 170 fil-mija tal-ekonomija. Il-partit tas-SiriΩa sostna fl-a˙˙ar snin li g˙andu jieqaf il-pjan ta’ salvata©© (bailout) tal-Greçja g˙ax qed jag˙mel deni soçjali enormi. Reba˙ l-elezzjoni tax-xahar li g˙adda fuq din l-g˙ajta u minnufih telaq biex iwettaq il-weg˙diet elettorali tieg˙u.

X’SAR FIÛ-ÛONA EWRO

Matul is-snin li l-Greçja kienet g˙addejja minn dal-kalvarju, il-pajjiΩi membri taΩ-Ωona ewro raw kif isa˙˙u t-tmexxija tal-munita tag˙hom, biex ma jer©g˙ux ji©u b’daharhom mal-˙ajt b˙alma ©ara wara l-�008. G˙alhekk qablu li g˙andu jitwaqqaf fond kbir li jkun f’qag˙da li jinnegozja salvata©© finanzjarju meta pajjiΩ taΩ-Ωona jiltaqa’ ma’ problemi kbar (kif inqalg˙u wara l-Greçja, fl-Irlanda, il-Portugall u Çipru). Imsejja˙ il-MekkaniΩmu g˙all-Istabbiltà Ewropea, f’dan il-fond taw sehemhom il-pajjiΩi kollha membri taΩ-Ωona, inkluΩa Malta. Jintqal li g˙andu biΩΩejjed riΩorsi biex jilqa’ g˙al kull ti©rib li jista’ jse˙˙. Kemm dan hu minnu, g˙ad irridu naraw g˙ax sa issa l-MekkaniΩmu ma ©iex affaççjat b’xi skoss qawwi. MiΩura importanti o˙ra li ttie˙det kienet li ©ew issikkati bil-kbir ir-regoli dwar kif il-gvernijiet membri taΩ-Ωona ewro jmexxu l-finanzi tag˙hom. Il-Ìermanja sa˙qet li g˙andu jitwaqqaf patt fiskali li jiΩgura li, sena wara l-o˙ra, il-ba©its nazzjonali ji©u spezzjonati. Jekk jinstab li mhumiex


jirrispettaw ir-regoli stabbiliti g˙at-tmexxija finanzjarja, jittie˙du passi kontra l-gvern jew gvernijiet responsabbli. Ir-regoli jg˙idu fost o˙rajn, li d-defiçit ta’ gvern ma jistax jaqbeΩ it-3 fil-mija tal-ekonomija tal-pajjiΩ. Fejn qabel ir-regoli kienu jit˙addmu b’mod pjuttost laxk, huma issa qed ji©u applikati b’mod tassattiv. Madankollu, xorta g˙adu jeΩisti dubju dwar kemm pajjiΩi ewlenin b˙al Franza jew l-Italja se jitqiesu bl-istess mod b˙al Malta jew l-Irlanda. Il-Kummissjoni Ewropea hi inkarigata li tidderie©i s-sorvelja tal-finanzi u l-ekonomiji tal-pajjiΩi, bil-poter li anke timmulta lil min jibqa’ ma jsegwix il-“pariri” (jew direttivi) tag˙ha. Imbag˙ad ukoll iΩ-Ωona ewro qed twaqqaf unjoni bankarja. Permezz tag˙ha, il-banek fi ˙dan iΩ-Ωona qed jaqg˙u ta˙t sorvelja Ewropea mill-Bank Çentrali Ewropew u jridu josservaw regoli komuni ta’ tmexxija, b’mod tassattiv. Qieg˙ed jitwaqqaf fond ie˙or, li g˙alih jikkontribwixxu l-istess banek, biex meta xi bank jersaq lejn il-falliment, dal-fond jifli jekk g˙andux jinda˙al biex jg˙in, u jekk jiddeçiedi li iva, itellaq pjan ta’ salvata©© g˙all-bank. Jekk jiddeçiedi li le, i˙alli lill-bank ifalli. B’dal-mod, il-pajjiΩi membri taΩ-Ωona ewro huma issa fiduçjuΩi li ma jistax ji©ri kif ©ara wara l-�008. Dakinhar, biex isalvaw il-banek tag˙hom, u˙ud mill-gvernijiet kellhom jid˙lu g˙al obbligi finanzjarji li g˙oddhom g˙arrquhom. L-ilqug˙ kollu li semmejna hu frott ta’ negozjati, xprunati ta’ spiss mill-Ìermanja, li twettqu bejn il-membri taΩ-Ωona ewro hekk kif fittxew li jilqg˙u g˙at-tempesti tal-a˙˙ar snin. Tassew li bl-iΩviluppi fil-Greçja re©g˙et in˙asset l-g˙afsa ta’ kriΩi. Did-darba madankollu Ω-Ωona ewro dehret im˙ejjija ˙afna a˙jar minn qabel biex tilqa’ g˙aliha... ˙lief g˙al saram wie˙ed, li g˙andu importanza fondamentali. Il-gvern ©did Grieg, veru, qajjem sfida meta ddikjara li


ma jridx jonora aktar il-ftehimiet ta’ salvata©© finanzjarju bejn pajjiΩu u l-bqija taΩ-Ωona ewro. Effettivament il-pajjiΩi membri Ωammew sod kontra l-esi©enzi tal-bidu tal-gvern tal-Prim Ministru Tsirpas. Hu kellu jibdel il-poΩizzjoni tieg˙u, hekk li qam inkwiet intern fil-partit tas-SiriΩa. Biss it-twaqqif ta’ strutturi ta’ lqug˙ fiΩ-Ωona ewro mexa pass pass mat-t˙addim ta’ politika finanzjarja u ekonomika li g˙adha qawwija sal-lum mal-Ewropa kollha. Imnebb˙a wkoll mill-Ìermanja, din il-politika kellha importanza kbira f’kif l-ekonomiji tal-pajjiΩi tal-ewro Ωviluppaw.

KONSOLIDAMENT FISKALI

Fil-fehma ÌermaniΩa (imma l-Ìermanja ma kinitx wa˙idha f’dan), biex iΩ-Ωona ewro tqum fuq saqajha wara t-tumakka kbira tal-�008, kien hemm fuq kollox ˙tie©a li l-ba©its tal-gvernijiet membri jin©iebu lura f’bilanç. Dal-proçess ing˙ata l-isem ta’ “konsolidament fiskali”. Fl-istess ˙in mat-twettiq tieg˙u, kellhom jid˙lu l-hekk imsej˙a “riformi strutturali” fil-mod kif jitmexxew l-ekonomiji nazzjonali. Dawn kellhom iwarrbu fost o˙rajn, spejjeΩ Ωejda fin-nefqa tal-gvern; monopolji kbar u Ωg˙ar; metodi ta’ ˙idma li jkattru l-ineffiçjenzi u li ma j˙allux l-impriΩi jinvestu u jimpjegaw lin-nies kif jidhrilhom li jkun l-a˙jar… Insomma, patafjun ta’ bidliet li kellhom irendu l-ekonomiji aktar flessibbli. Fil-verità ˙afna minn dawn ir-“riformi” spiççaw indirizzati lejn id-dinja tax-xog˙ol fejn intqal kien hemm wisq restrizzjonijiet fuq l-inga©© ta’ ˙addiema Ωg˙aΩag˙ ©odda, waqt li ˙addiema ixje˙ u aktar stabbiliti f’xog˙olhom kienu salvagwardjati minn kull bidla fil-kundizzjonijiet tal-impjieg tag˙hom.


L-argument kien li hekk kif il-ba©its tal-gvernijiet tal-ewro jer©g˙u ji©u f’bilanç u hekk kif jitwettqu r-riformi strutturali, l-ekonomija Ewropea u l-munita tal-ewro se jiksbu r-rankatura. Se tikber il-fiduçja. Se jiΩdiedu l-investimenti. L-ekonomiji u l-impjiegi se jirrankaw. Hekk kien ©ara fil-Ìermanja. Hekk se ji©ri fil-pajjiΩi l-o˙ra taΩ-Ωona ewro. Madankollu, g˙addew erba’, ˙ames snin u aktar. Il-bidliet li kellhom isiru fit-tmexxija ekonomika u finanzjarja ftit jew wisq saru. Xorta wa˙da l-ekonomiji Ewropej fil-biçça l-kbira tag˙hom baqg˙u sta©nati.

L-IMMA…

Il-finanzi pubbliçi kienu ssodaw. Imma g˙aliex l-investimenti baqg˙u çassi u Ω-Ωieda fl-impjiegi l-istess, jekk mhux ag˙ar? Fil-fatt, ir-rati tal-qg˙ad g˙al Ωmien twil wisq baqg˙u jikbru. Sena wara l-o˙ra, il-Kummissjoni Ewropea ̇ ar©et pronostki dwar it-tkabbir ekonomiku li kienu jmorru Ωmerç. L-istimi tal-Kummissjoni kienu jkunu wisq ottimistiçi. Qamu dubji dwar kemm iΩ-Ωona ewro se jirnexxilha tikkompeti tajjeb f’suq globalizzat. Fejn l-ekonomija tal-Istati Uniti (ma’ blokki ekonomiçi o˙ra fl-Asja u fl-Amerika Latina) kienet irrankat, dik taΩ-Ωona ewro baqg˙et marradija. Xorta wa˙da, dejjem b’insistenza tal-Ìermanja, baqg˙et ting˙ata prijorità lill-prinçipju tal-konsolidament fiskali. Sadattant beda jitqanqal l-argument oppost… l-aktar fost is-soçjalisti. Dawn qalu: Fi Ωmien ta’ inçertezza, fejn is-settur privat jibqa’ lura sakemm il-fiduçja tinkiseb g˙alkollox qabel jinvesti, jekk il-gvernijiet jibqg˙u wkoll lura – anzi jnaqqsu mill-ispiΩa tag˙hom – se jkunu ˙adu direzzjoni li tkompli ssa˙˙a˙ l-inçertezza, tnaqqas l-investiment u


allura tikkonferma l-ista©nar. Il-kundizzjonijiet ekonomiçi jirrekjedu li l-gvernijiet jonfqu aktar, tal-anqas fuq investiment. Min-na˙a tal-partiti liberali u konservattivi tal-lemin it-twe©iba kienet: Kif tistenna fejqan finanzjarju jekk gvern li qed jonfoq aktar milli qed ida˙˙al, ikompli jΩid fl-ispiΩa? Il-fejqan ekonomiku ji©i meta s-sidien privati jiksbu l-fiduçja huma u jaraw kemm qed ikunu serji l-gvernijiet fit-tmexxija tag˙hom, u minn hekk jibdew jinvestu. Jekk dan ma ji©rix, u minflok il-gvernijiet jitg˙abbew b’aktar djun, il-munita tal-ewro ter©a’ tispiçça fixxa. Din il-kontroversja baqg˙et g˙addejja sal-lum.

DWEJJAQ SOÇJALI

L-issikkar taç-çinturin fl-ispiΩa tal-gvernijiet xorta donnu ma wassal imkien. Fl-istess waqt, aktar ma g˙adda Ω-Ωmien, aktar qamu dwejjaq soçjali fost il-popli. Il-qg˙ad baqa’ tiela’ speçjalment fost iΩ-Ωg˙aΩag˙. Saffi s˙a˙ tal-popli Ewropej bdew i˙ossuhom aktar vulnerabbli g˙all-miΩerja. In-numru ta’ nies fqar jew imhedda mill-faqar Ωdied b’ritmu li kien ilu ma jin˙ass fl-Ewropa. F’pajjiΩi diversi, il-wens mog˙ti mis-servizzi soçjali tal-istat naqas. Il-problema kkomplikat aktar bit-tensjonijiet ekonomiçi u soçjali li bdew jinqalg˙u min˙abba l-immigrazzjoni legali u illegali lejn pajjiΩi Ewropej. Minflok naqset (kif wie˙ed kien jistenna, la l-Ewropa kienet sta©nata), l-immigrazzjoni Ωdiedet g˙al g˙add ta’ ra©unijiet. Forsi mhux ta’ b’xejn li f’daqqa ˙adu nifs ©did partiti ©odda jew Ωg˙ar, hekk imsej˙a estremisti jew populisti jew ma nafx xiex aktar, mil-lemin u mix-xellug. IΩ-Ωona ewro g˙elbet jew kwaΩi l-isfidi li laqtuha fl-


a˙˙ar snin, sfidi li kienu ©ejjin mill-isfiduçja fiha tas-swieq finanzjarji l-kbar u mill-qag˙da mwieg˙ra tal-finanzi tal-gvernijiet. Biex tasal g˙al dal-punt, madankollu, kellha to˙loq dwejjaq soçjali kbar fost il-popli. Il-kriΩi l-©dida li qamet bl-elezzjoni fil-Greçja hi l-aqwa turija ta’ dan. Konfronti b˙al tal-Greçja jistg˙u jiΩbroffaw minn Spanja u l-Portugall, biex ma nsemmux lil Franza. B˙ala pro©ett politiku, l-ewro ftit jista’ jippermetti li jispiçça politikament sfiduçjat mill-elettorati Ewropej, bl-istess mod kif g˙al xi Ωmien in˙ass il-periklu li se ji©i sfiduçjat mis-swieq finanzjarji. Ma morniex lura lejn il-kriΩi tal-bidu anki jekk il-Greçja qed ter©a’ tkun il-protagonista tal-kriΩi tal-lum. Morna imma lejn sfida forsi aqwa mill-ewwel wa˙da: IΩ-Ωona ewro se tkun kapaçi to˙loq it-tkabbir ekonomiku? Se tkun kapaçi ssostni l-fiduçja politika tal-popli?

(It-Torça, 22 ta’ Frar – 08 ta’ Marzu 2015)

Lura lejn il-bidu? 531

Kronolo©ija tal-kriΩi tal-ewro - Alfred Sant | MEP U L-EWRO 2.pdf · 2015. 5. 12. ·...

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Transcript of Kronolo©ija tal-kriΩi tal-ewro - Alfred Sant | MEP U L-EWRO 2.pdf · 2015. 5. 12. ·...