Robert Abela said on Monday that he agreed with the new president's comments that "financial greed" was hurting society, adding that more people were straying from core values and instead seeking financial comfort. 

Replying to media questions, the prime minister said this was not something new as naturally, humankind is swayed towards material interests.

"I agree with her comments. Unfortunately, there is a tendency for people to move away from the most important values, such as integrity and thinking of others, not just about yourself," he said.

"And now financial comfort, comfort of life, in general, is pushing these values away." 

During her inauguration speech on Thursday, President Myriam Spiteri Debono described the issue of financial greed was "worse than drug addiction."

"The relentless pursuit of riches, more often than not, translates itself into various forms of corruption; the pursuer becomes indifferent to the suffering he may directly or indirectly cause others.

"It is worse than substance addiction, which, in the perception of the majority of people, is the worst addiction one can suffer from. The drug addict, mainly, harms himself; greed harms the whole of society," she warned. 

Abela continued that being financially comfortable should not mean that one should stray away from core values.

"We need to remove this concept of greed, that money comes before anything else," he said.

"I believe that a person should always aspire to excel in life, be (financially) comfortable and work for a better quality of life, but at the same time not forget the important values of our society, helping others and thinking of the common good."  

"I believe this is the message we are trying to portray as a government, that you are not the centre of everything, but are part of the common good of society."