Bernard Grech is on record having stated that tough decisions lay ahead for the PN, which is now €32 million in debt. He also said that he believes the party must redouble its efforts to sell some of its clubs, to rack up cash. Should it, therefore, initiate insolvency procedures or should it rather explore how to become more attractive for talent, participation and donations that might eventually financially revitalise this much-needed opposition party?

Ostensibly, a number of advisers have admitted that the Nationalist Party is now on the verge of bankruptcy. It seems that, owing primarily to Grech’s initial hesitation and procrastination in political decision-making and his failure to deliver on a large proportion of his leadership pledges, many members have left the party and a number of sponsors and mainstay donors have cut or withdrawn funding.

In this dire state of financial affairs, the party is attempting to mitigate its losses in a number of ways, including, if need be, redundancies of party staff, possibly selling off a number of party clubs and trying to lure wealthy donors to hand over cash to the party.

Some advisers are even admitting that the prospect of declaring bankruptcy should now be actively considered. What would that entail? It could mean starting a new party organisation with a new membership. However, rest assured that, should such a situation come about, Labour would just run ads saying: “You ran your own party into the ground, you cannot be trusted with public money.”

Somehow, somewhere, something has been going wrong for a number of years with respect to the finances of the PN. After just two years of Grech’s leadership, the party’s financial prospects look dire. Of course, Grech himself is definitely not to blame for this situation. Yet, the writing had long been on the wall. Accumulating such a heavy debt does not happen overnight. It is a lengthy process attributable mainly to mismanagement and inexperience in managing the party’s finances and related fundraising.

So if any blame is to be put on any person or persons, who should it be and who should shoulder responsibility? The PN statute clearly lays down that its treasurer is mainly responsible for managing, monitoring and, possibly, increasing the party’s financial and other related funding sources, not least, by increasing membership.

Furthermore, it is envisaged that the reviewing board appointed by the administrative council is responsible for supervising the party’s financial situation from time to time.

Accumulating such a heavy debt does not happen overnight- Mark Said

Coupled with all this, on the demand side, the party has long been facing enduring challenges attracting voters because of changes to the nature of the electorate. Increasing individualism among a largely middle-class electorate in our country has created a large share of ‘apartisan’ voters who tend to be more reliant on their own individual judgement rather than party cues when determining how to cast their votes.

Apartisans are also increasingly involved in political activity outside of partisan politics, such as through civil society organisations or demonstrations, even if it is often alleged that a number of such organisations are closely affiliated to the PN.

So, once more, the pressure on the PN to raise money increases the power of interest groups and individuals to influence party behaviour in exchange for financial support.

It is essential, therefore, that the PN obtains funding in ways that are free from suspicion that donors receive favours or improper influence in return. Given the reliance of our major parties on large donations from a limited number of sources and the perception of undue access and influence given to donors, I doubt many would argue that our current system meets this test.

The PN, thus, needs to find solutions, not only to its internal chronic disunity but, above all, to the negative influences of money, which affect key aspects of its organisational purpose.

Grech has courageously embarked to tread where others would have justifiably feared to tread. This, in itself, is a praiseworthy initiative. Only time will tell whether he will succeed in his quest. If he does, then he would surely have proven his political worth.

On the way, he will have to engage a team of sound and trustworthy advisers, not least financial wizards, to turn things around.

He must also succeed in overcoming the other looming PN’s ideological bankruptcy threatening it to come to a situation where it will have nothing more constructive to offer to the nation.

For the sake of our democracy, one augurs that he does succeed in order to be able to hold the ruling party to account.