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The Maltese Herald

DB Group, Adrian Delia and Alex Borg have their way as Charles Bonello is set to be appointed PN’s Secretary-General

—

by

Mark Camilleri
in ,

DB Group and the Adrian Delia and Alex Borg faction have had their way as Charles Bonello is set to be appointed Secretary-General of the Nationalist Party. Two other contestants for the post, Stefan Caruana and Liam Sciberras have withdrawn their candidacy plans following pressure and internal discussions.

We are watching DB Group taking over the Nationalist Party in real-time. Ray Bezzina, who works for DB Group and has a significant degree of influence in internal party matters, believes that PN needs to steer away from the rule-of-law crisis in order to win the general elections. Charles Bonello is favoured by Ray Bezzina and the Delia-Borg faction over the younger candidates for the post of Secretary-General because they are malleable to DB Group’s interests and Ray Bezzina’s ideas. Charles Bonello is seen as the loyal vessel who can be guided and fed the right direction.

Think about it this way. The Nationalist Party has debts amounting up to €35 million. The post of Secretary-General in PN requires the fulfillment of executive functions including the overseeing of the management of the Party’s finances. Charles Bonello is not a banker or a finance professional. If the Party would have objectively chosen the right candidate as Secretary-General, they would have handpicked a seasoned finance professional with extensive experience in bankruptcy restructuring, and with the capability of raising new capital. Charles Bonello has none of these skills: he’s just a previous Lawrence Gonzi acolyte and I doubt whether he has the actual financial literacy to read a balance sheet at all. In reality, he probably won’t need to. DB Group are coming in.

 

 

 

Comments

6 responses to “DB Group, Adrian Delia and Alex Borg have their way as Charles Bonello is set to be appointed PN’s Secretary-General”

  1. David M Briffa avatar
    David M Briffa

    Do we know how much interest the PN is paying on its debt? What is the total value of its assets? More information about the party’s finances would be fascinating.

    Reply
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