Tag: Central Bank
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ECB Chief Christine Lagarde welcomes new Maltese Central Bank Governor Alexander Demarco
The President of the European Central Bank Christine Lagarde welcomed Alexander Demarco to the ECB’s Governing Council. He officially replaces Edward Scicluna. Alexander Demarco’s appointment to the ECB Governing Council was welcomed alongside the appointment of Bulgaria’s Central Bank Chief Dimitar Radev after Bulgaria has just joined the Eurozone. New Slovenian Central Bank Governor Primož…
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Rita Schembri appointed Deputy-Governor of the Central Bank of Malta: first woman in the the post
Rita Schembri, the previous Head of the Economic Analysis Department at the Central Bank of Malta, has been promoted to Deputy-Governor. Her appointment follows the official takeover of the central bank’s governorship by Alexander Demarco. Alexander Demarco was interim Governor before officially taking up his role at the start of the year, replacing Edward Scicluna.…
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Digital Euro on track to the European Parliament after Danish Presidency concludes draft text
The legislation for the digital Euro is set to go to the European Parliament after a first tentative text was concluded at the European Council negotiations led by the Danish Presidency. The initial stages of the discussions of the European Council involved diplomats from member-states so member-states have already agreed on a tentative draft text…
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Malta’s Central Bank was a net-seller of gold during gold’s biggest rally
Malta’s central bank has been on the other side of the trade in the current gold bull-market, having been an unusual net seller among most central banks which have been net buyers. Whether this is is a good or a bad thing, depends on your perspective and the priorities being made by the Central Bank…
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Shaming the nation for a salary at the Central Bank
The previously suspended Governor of the Central Bank of Malta, Edward Scicluna is back at the Central Bank as Governor after having pestered the Prime Minister and his circle to allow him to retake his post while he is charged over the Vitals case. He pressured the Prime Minister and his colleagues over to keep…
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Russian Government and Central Bank plan to roll-out direct expropriation of cash balances as the economy goes bankrupt
The Russian Central Bank and MP and Central Bank Council member Anatoly Aksakov are planning to launch a scheme whereby the Central Bank can expropriate cash balances that are over 1.4 million Roubles ($13,000) on behalf of the government. The scheme is similar to the one Cyprus imposed on bank account holders who had more…
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The Court’s indictment does not share Edward Scicluna’s optimism
This is the part of the court document which indicted Chris Fearne and Edward Scicluna. As you can see the document clearly states that Edward Scicluna never voted against the Vitals and Steward concessions and for this reason he will be indicted. Chris Fearne’s story is similar although unlike Scicluna, Fearne seems to have tried…
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Sacked, but still getting paid
Central Bank Governor Edward Scicluna has been effectively sacked from his post by the Prime Minister but has retained his salary. Deputy Central Bank Governor Alexander Demarco will serve as caretaker Central Bank Governor during the interim period until a new Governor is appointed. Edward Scicluna insisted with Prime Minister Robert Abela and his cabinet…
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Further import restrictions would cause higher inflation in Russia – Head of Russian Central Bank Elvira Nabiullina
New US sanctions on Russia announced during last week’s G7 meeting, notably on transactions related to the Russia’s Moscow Stock Exchange have forced the Russian Central Bank to halt US Dollar and Euro transactions on the Exchange. The move comes a week after the Russian Central Bank has kept interest rates at 16% with an…
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“Inability to perform your functions in office” includes your function to deliver your job on a daily basis
Going by a Central Bank book there are various technical details of the Central Bank Act, apart from other laws and regulations that make Edward Scicluna’s position as Governor of the Central Bank incongruent with the Act. A prerequisite for the Governor’s ability to perform his functions in office includes focusing exclusively on Central Bank…
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I don’t want to resign because I have the power
Might is right for the fraudster and Central Bank Governor Edward Scicluna. Today, on the steps of the Law Courts he reiterated his position that he doesn’t want to resign because according to him, he has the power to stay on. This fraud has no consideration or care for anything or anyone other than himself.…
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Edward Scicluna is not resigning because he’s guilty
You’d have to be really crass and guilty as hell, to refuse to resign as Governor of the Central Bank as you are hauled to court over misappropriation of funds in the most high-profile criminal case in history. Edward Scicluna can’t use the excuse of having been a government minister that found a corrupt contract…
