John Dalli EU Commissioner Designate

Mid-Med Bank had a history going back as far as 1882. In the 1950’s it was Barclays Bank D.C.O. and it was nationalised by a Malta Labour Party administration in 1975. During its nationalised period it grew into the largest bank on the Maltese islands controlling more than 50% of the economy. 

After winning the 1998 general election the Nationalist Party started to implement its privatisation programme. John Dalli was appointed Minister of Finance and Economy. A privatisation programme had to be implemented because of the financial mess they had left the country in when they were in government prior to the 1996 election. During the administration of 1992 – 1996 John Dalli was the Minister of Finance. The 1996 election was called early (the Nationalist administration had another year left to govern) because it was realised that the country’s financial situation had gone out of control. The deficit and national debt hit record levels. The Prime Minister at the time (Dr. E. Fenech Adami) in an interview with Godfrey Grima confirmed that when he was informed of the country’s financial situation he nearly had a heart attack. That is how bad the situation was.

 However, the Malta Labour Party administration only lasted eighteen (18) months. While in opposition the Nationalist Party did their utmost to bring down the MLP administration lead by Dr. Alfred Sant. The Nationalist Party secretary Joe Saliba in his address to the party’s annual general conference confirmed this after winning the 1998 general election stating “we are a confident political party so much so that in eighteen (18) months we succeeded in bringing down the administration of the Malta Labour Party”. In response to this the audience stood and applauded. During the Nationalist Party administration of 1987 – 1992, in preparation to privatisation, 33% of the shareholding was sold to the general public and the bank was listed on the Malta stock exchange. That was an acceptable procedure and to the benefit of the general public. 

 The second part of the bank’s privatisation was handled in a different and unacceptable way. Although John Dalli was the Minister of Finance and Economy the nationalised banks were the responsibility of Profs. Josef Bonnici who was Minister for Economic Services. There was a lot of public debate and concern regarding this next privatisation procedure. 

On the 14^th April 1999 while Profs. Josef Bonnici was overseas on parliamentary business, John Dalli, Marin Hili (a business man) and Joe N. Tabone (an accountant) both close friends of John Dalli, disappeared abroad. On their return it was announced that the remaining nationalised interest in Mid – Med bank was sold lock stock and barrel to HSBC. The sale also included the only Turner masterpiece on the island owned by the bank including other works of art by renowned local artists. This important and economically strategic asset was sold for a pittance (Lm80 million approximately €184 million) in a weekend of shady negotiations behind closed doors and everyone’s back.

In all European countries, when such an asset is being privatised, professional negotiators are engaged to ensure the best possible price and conditions of sale are achieved. These three stooges had no such experience. They definitely did not have the approval of the general public to whose interest they are duty bound to protect. 

The opposition and other bodies made demands for a public investigation. These were bluntly ignored. Allegations were made of backhanders received by those involved. It is general knowledge that as a rule of thumb the buyer of such an asset always pays commission to those involved in the negotiations.  

Without a doubt this purchase of Mid Med Bank by HSBC was a bargain. The capital payment that was agreed on was to be paid over two years interest free. The total costs for this asset were recovered in the first two years. Since then the profits rolled in at an annual increased rate.  

 This was an irregular sale of a national asset handled by amateurs and without a doubt an abuse of power coupled with gross arrogance and incompetence. This was a national asset not a personal one as John Dalli had assumed it to be. This arrogant politician was never held accountable for such a breach of trust and misconduct.        

On the 11 October 2008 John Dalli was featured on the Malta Star e-paper and later on Super 1 TV program ‘Issues’. John Dalli expressed his anger, bitterness and suffering that he and his family endured when he was falsely accused, Joseph Ellul Grech and his family completely understand this. Many will agree with his statement that “those who suffered have to be compensated “.It is also agreed that delays in investigations are unjust and inhumane.  John Dalli cannot be blamed for not forgiving the persons involved in the “plot” against him; character assassination is not a very nice thing to happen to anyone. We must not forget the character assassination technique continuously used by his party (Nationalist Party) against Dr. Sant and other members of the Malta Labour Party, some of which were orchestrated by Dalli himself. However, hypocrisy has been the order of the day in all the years that the Nationalist Party have been in government.

Either John Dalli has a very short memory or he suffers with amnesia. He seems to have forgotten the 20,000 anonymous letters that he falsely and maliciously accused Joseph Ellul Grech and the Labour Party with.  A parliamentary and police investigation absolved the Labour Party of any involvement and the law courts acquitted Ellul Grech of Dalli’s false and malicious accusations. John Dalli knew from the start that neither Ellul Grech nor the Malta Labour Party had anything to do with such a pathetic, time consuming and expensive act.

When John Dalli was falsely accused he did not have his house searched as Ellul Grech did for over four hours by six police officers. Terrorising and embarrassing his wife and daughter when the police went through their personal belongings without having a female police officer present. 

I am sure that John Dalli did not have his wife questioned by the police nor did his wife become ill because of vindictiveness that went on for many years.

I am sure that John Dalli did not spend 48 hours arrested at the police headquarters being continuously interrogated by at least four police officers at any one time, despite being ill with kidney stones and having to be taken to hospital for medical treatment during the night while under arrest.

I am sure that John Dalli did not spend time in a police cell that was  primitive, filthy and not fit for humans. I am sure John Dalli and his wife were not followed by C.I.D and secret police for a number of weeks. 

I am sure that John Dalli did not have his computer hardware confiscated by the police and kept in their possession for months with the excuse of forensic examination, making sure to reduce any chances of him earning a living.  

I am sure that John Dalli did not have to sign at a police station twice a week at an inconvenient time making life purposely difficult for him.

I am sure that John Dalli did not have an impediment on his departure or have his passport withdrawn by the police. I am sure that John Dalli did not have the police knocking on his door periodically summoning him to appear in court when he knew that he was innocent of any crime. 

I am sure that John Dalli did not lose his employment because of false and malicious accusations against him. 

I am sure that despite false and malicious accusations, John Dalli was still able to get employment. In fact he set up a successful consultancy business (John Dalli & Associates based at Tumas Tower) as stated on Wikipedia. I am sure that John Dalli did not have to spend time going to the ETC to sign on weekly for employment. 

I am sure that John Dalli did not lose his home. On the contrary he now lives in a larger house than he did four years ago.

I am sure of many things that John Dalli did not have to do. However, he had to falsely and maliciously accuse Ellul Grech to cover up his involvement in the Daewoo scandal. John Dalli did not have to leave Malta because false and malicious accusations affected his family’s health and well being and the prospect of earning a living.  It took Ellul Grech three years eleven months fifteen days to prove his innocence. After being acquitted Ellul Grech and his family had to leave Malta because John Dalli’s false and malicious accusations had destroyed their life in Malta. 

Yes, Ellul Grech’s family agree with most of John Dalli’s statements. However, he should nudge his memory and remember all the false and malicious accusations he orchestrated in the past against many Malta Labour Party M.P.’s and officials and other individuals. His periodical theatrical writing and appearance in the media is an insult to all those people who found themselves in the same situation by his character assassinations. 

John Dalli did not have his civil and human rights breached by the authorities like Ellul Grech did.   John Dalli must be reminded that when he falsely and maliciously accused Ellul Grech he stated “I will make sure that the persons involved in sending these anonymous letters will be caught no matter what the costs”. To date he failed to do so for reasons he knows very well. Like John Dalli, Ellul Grech expects justice, real justice that does not insult his intelligence. Ellul Grech’s family were put through a nightmare that is impossible to forget and will haunt them the rest of their lives.  

Most of the press and media in Malta are not impartial. Especially printed newspapers and those published on the web like the Independent, Malta Business Weekly, The Times and others. They seem to publish whatever suits them as long as they look good with the current administration. They neglect to remind people like John Dalli of their chequered and questionable past.