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The Maltese Herald

Edward Zammit Lewis says that the government should not be responsible for Manoel Island’s bondholders

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by

Mark Camilleri
in

Edward Zammit Lewis is rehabilitating himself as a voice of the people. To be objectively fair, he currently seems to be distancing himself from Joseph Muscat’s faction and instead is taking on political issues by himself. I don’t find it unusual that politicians find their voice and see some light after failing to make success after taking the route of political corruption.

Now, Edward Zammit Lewis is contradicting his own Leader and Prime Minister by taking a different position from him on Manoel Island. Edward Zammit Lewis is stating that the government is not responsible for bondholders of MIDI’s Manoel Island project, contrasting with the statements made by the Prime Minister last Sunday when he said that the bondholders rights should be respected. The Prime Minister made his comments as part of his explanation on why MIDI’s concession of Manoel Island can not be terminated by executive power.

The Maltese Herald will be publishing a feature about MIDI’s finances and the finances of the project in the coming days.

Another prominent member in the Labour Party who is calling for the renegotiation of the MIDI’s concession of Manoel Island, is the Labour Party’s President Alex Sciberras.

 

Comments

3 responses to “Edward Zammit Lewis says that the government should not be responsible for Manoel Island’s bondholders”

  1. CeeEmm avatar
    CeeEmm

    For once I fully agree with Zammit Lewis.

    As for the bond holders, they knew they were taking a risk when they invested.

    Reply
  2. John Borg avatar
    John Borg

    Bailing out one company will open floodgates and will destroy any trust in the Maltese financial system.
    Well done…we need people to say what’s good is good and what’s bad is bad irrespective of their political affiliations or creed.

    Reply
  3. Ganni Borg avatar
    Ganni Borg

    Public land should not be given to the private investors to build apartments. It should be used for business which generate economic activity for the term of the lease, for example to build and operate hotels. Building tourist related resorts is acceptable but not for outright sale. Building high rise buildings of apartments by developers to make extraordinary profits from such a limited resource as land in Malta, is unacceptable and the current practice should be revised. The Midi and Chambray projects should be revised. The same few developers have taken over all Malta’s prime land and they have been aided by politicians. This is not fair.

    Reply

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