The Malta Employers’ Association on Friday called on the Malta Council for Economic and Social Development to suspend its normal agenda and call an urgent meeting to discuss the “unprecedented moral, reputational and political crisis” the country is passing through and its possible ramifications on the country. 

The association reiterated its view that the avalanche of events of the past few days can have serious repercussions on society.

“Besides the negative economic implications of the current situation, and its possible impact on investment and jobs, the mounting political tension has polarised the people and plunged the country into social unrest,” it said, while appealing for a return to normalcy.

“Malta’s international reputation is severely damaged. The incident whereby Maltese and international journalists were locked in a room in the Prime Minister’s premises and watched over by thugs is reprehensible and betrays a degeneration of our democratic credentials,” it said.

No one is above the law

It said there is a growing lack of confidence in the political class among the public that is equally shared by the business community.

Meanwhile, the Institute of Financial Services Practitioners said Malta’s reputation as an emerging international financial services centre has taken a severe bruising in spite of all the hard work industry players and practitioners have put into building this industry over a number of decades.

“The IFSP expects our society’s leaders and institutions to shoulder their responsibilities without further delay and to act with integrity in full respect of the rule of law.

“We call upon all those in positions of responsibility and leadership to swiftly do the right thing in the national interest,” it said.

The IFSP said any person who has a conflict of interest as a result of close ties to anyone else who is suspected or alleged to be involved in the assassination of Daphne Caruana Galizia, in money laundering, abuse of public office, or in corruption, is unable to continue to properly exercise any public office role.

“No one is above the law, and the IFSP believes that the institutions of the country need to be allowed to perform their functions without any undue influence by conflicted persons,” it added.

It said that trust and good reputation are crucial in enticing the establishment of international businesses and foreign direct investment.