Moneyval greylisting could be as devastating as COVID crisis, MEA President says

Malta Employers Association President says government’s efforts in handling the coronavirus pandemic would be in vain if country is grey listed by Moneyval

MEA President Doris Sammut Bonnici
MEA President Doris Sammut Bonnici

Malta Employers Association President Doris Sammut Bonnici says having the country grey listed by Moneyval, could be as devastating as the coronavirus pandemic.

“Unfortunately, Malta’s image has been devalued as the country has been rocked by a

successive series of scandals that have drawn the attention of the international media,” Sammut Bonnici said.

She went on to say that no matter how resilient the economy, it would not withstand the contraction of the financial and igaming sectors.

“Businesses and people will suffer if this scenario becomes a reality,” she said.

Sammut Bonnici was speaking during the MEA’s 55th Annual General meeting.

Praising the government for the manner in which it handled the coronavirus pandemic, she warned that such efforts would be in vain unless the country “takes some hard and radical decisions to restore good governance in its institutions.”

Referring to proposals presented by the MEA, Sammut Bonnici said the association had recommended fewer member on a full-time basis, while calling for a pay structure which truly reflects the responsibility and accountability expected from such positions.

“Members of Parliament simply cannot hold positions of trust, especially when it is common knowledge that this practice is there to boost the income of the members of parliament of the governing party,” she stated, while insisting on transparency and control in the engagement of persons of trust.

“How can employers take government seriously about promoting pay transparency when it refuses to disclose the packages of persons of trust who are paid from taxpayers’ money?”

The MEA President also pointed out that it has become evident good governance depends on the separation of party financing from corporate donations or coercive practices like door to door collections.

“This is the reason behind MEA’s proposal to introduce partial state funding to political parties, and that it could also be the right time to do away with political party media.”

She concluded by stating there is no longer time to debate such issues, saying employers have an obligation in voicing warnings on the consequence which might arise if things are patched up, instead of having problems properly addressed.

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