The Shift News has basically confirmed a story that the Malta Financial Services Authority is seeking Edward Scicluna’s resignation as Central Bank Governor due to rules regarding appointments in financial and banking entities. MFSA CEO Kenneth Farrugia has basically confirmed The Shift’s story by refusing to reply: I know from an inside source that Kenneth Farrugia reads all the press emails he receives, he engages with the press when necessary and does not shy away from replying to questions. He read The Shift’s news questions about Edward Scicluna and is refusing to reply not to insult Edward Scicluna.
I can confirm that Finance Minister Clyde Caruana absolutely wants Edward Scicluna to resign and he wants his resignation effectively and immediately to avoid harsh criticism from the European Union Moneyval committee. I’m also informed that Prime Minister Robert Abela will look into Scicluna’s case after the elections and this means he will probably be forcing Edward Scicluna to resign straight away.
It doesn’t matter whether Edward Scicluna thinks he did anything right or wrong. His position is untenable and he can not compromise the reputation of our country and our financial services for the sake of his monthly salary and status. His behaviour is not just infantile and immature, unmanly in character and absolutely selfish, it’s also an insult to all the hard-working public officials who spend their careers working hard without being tainted by corruption and rent-seeking. And in any case, he is guilty as hell. Cabinet members who were less financially literate than Scicluna, trusted in his advice as he regularly projected a demeanor of competence. It was all a lie and theatre. He is barely competent, untrustworthy and got his colleagues into a lot of trouble as he wittingly and knowingly breezed through a lot of corrupt contracts like Electrogas and Vitals, without doing any opposition.
No one held a gun at his head and asked him to stay on as Finance Minister for the sake of approving Joseph Muscat’s corruption. He could have resigned, but instead he stayed on for the sake of a monthly salary from the government. A man of finance who can’t live without a government salary is not a man of finance at all: he’s a total fraud.
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