Published on the Business Today, issue 28th November 2007
Last
week the headline news on Times of Malta augured a bumper Christmas
for Valletta shops. This is not only a result of the laying of
porfido tiles and savvy street decorations which are considered so
spectacular that they warrant the Prime Minister’s personal
attendance on its inauguration. Pundits say this sales bonanza has
something to do with cash hoards surfacing before the closing
deadline for euro conversion. Paradoxically ,shop owners in Merchant
and St John’s streets have seen their sales plummet due to a six
months delay in the paving process. Grtu has been beating their war
drums saying that this cannot continue for ever. Even hawkers in
Merchant Street were moved temporarily to Independence Square with
no compensation for the drop in business. Now, six months down the
line and the job is nearing completion in time for Christmas.
On a positive aspect since the completion on the new paving in
Merchants Street a number of long-abandoned commercial outlets in
the same thoroughfare had been reclaimed. As can be expected, delays
have now been discreetly forgotten and owners clamour to recoup
losses once Valletta opens up for business sporting more than 8000
sir mts of upmarket quality paving that befits a city built for
gentlemen.
Already
the government bent in an election mode showers praise over the
project and while delays have been criticised one can be forgiven
for ignoring the losses suffered by traders and ‘monti’ hawkers.
Various treatments to brighten the porfido handwork are being
rendered including washing with an acid solution has been applied to
unravel the latent red colours. Once the washing treatment yields
the desired results Valletta shoppers can embrace the revamped
pedestrian facilities and street architecture. This compliments
impressive results being obtained in the cruise liner visitors
thronging Valletta ‘s museums thus providing another assertive
motive to continue embellishing our capital. The paved Republic &
Merchant streets are soon to be bedecked with finest Christmas
decorations. Not bad and it can only get better once the imitative
to regeneration of Valletta harbour and inner cities gathers steam.
Parts of the Valletta bastions, which were torn apart years ago,
will be restored to their original glory and the old bridge between
Valletta and the breakwater, destroyed in World War II, will be
rebuilt. Tunnels passing under the Upper Barrakka Gardens will also
be restored and opened to the public.
Opposition spokesmen on the other hand plays down the Merchant
street project saying this smacks of an election gimmick. But life
goes on and enthralled voters shall see more sweeteners offered to
them as E-day approaches. Apart from New Year parties for the great
unwashed flowing into Valletta we all expect extravagant
celebrations enriched with big bang fireworks marking the birth of
the new currency. With an election looming vividly over the horizon,
all political parties are fine-tuning their propaganda machines
spurned with military style strategy teams. This is regimented to
fire on all cylinders. It goes without saying that partying in the
city will be de rigueur and attendance at the year-end is expected
to exceed the massive crowds that embraced the Notte bianca and
Notte magica events.
Surrealistically champagne will be flowing through the mouths of the
smiling Tritons guarding the entrance to city gate while merry
clubbers throw euro coins in the fountain mimicking the good luck
tradition at Fontana di Trevi. With an election touted to be held
within nine weeks from New Year voters are grooming themselves to be
flattered and cajoled.
So will 2008 see more of the same of what preceded the election in
2003?
This time both parties will invest more in hospitality given that
there are no distinctive political issues hitting the ballot. There
is no better place to celebrate other than within the walls of our
fortified medieval city.
It
is deja vu again....we are about to be promised heaven on earth .The
pot of gold at the end of the rainbow comes closer to reality as
voters feel pampered to let go of their coveted numero uno.
Will the circus and sassy entertainment in Valletta blind us in
forgetting our concerns about skyrocketed oil prices, an impending
US recession and a home grown environmental deficit? A lot depends
on the way mid-stream voters react to the siren songs coming out of
Pieta and Mile-end. Allow me a transgression here... ,why do we rank
our politicians so high almost as the proverbial King Canute who
capriciously commanded the waves to go back.
Legend has it that he grew tired of flattery from his courtiers.
When one such flatterer praised the king ‘s powers that could even
command the obedience of the sea, Canute proved him wrong by a
practical demonstration.
Canute‘s point being that even a king’s (alias our politicians)
powers have limits so bewares of pre-election mirages. Ironically no
prizes to guess correctly who shall be the king maker ...be it the
brainwashed party faithful or the motley gang of floaters? History
wakes us up to a reality check that it is the latter who hold the
key to the crown. Such fickle voters ignore the surreal feel-good
factor flowing abundantly through the streets of Valletta .Porfido
tiles and year-end Lupercalia in the streets of our capital will not
blind them to embrace wholeheartedly the spin, smoke and mirrors of
the propaganda barrage . Their survival instinct, honed over the
years, leads them to weigh wisely and to refuse to be hood winked or
to act easy to tolerate hullabaloo, even less thinly camouflaged
champagne (spumante) and timpana cocktail parties. Government will
clamour to convince the electorate that the millions invested in
sprucing up Valletta and the belated vision to regenerate the grand
harbour is well worth it. Who wins in this tug of war? Only the
ballot box will tell. Concurrently, the Prime Minister is expected
to reinforce his vision to embellish the city build for gentlemen.
He has inculcated in city dwellers a desire to look back with a
sense of accomplishment and gratitude and to learn how to preserve
our rich Baroque heritage. A final tongue in the cheek question....
will this inertia raise the ghost of the Opera house from its ruins?
Keep on dreaming.
Dr Gonzi as the anointed successor to Dr Fenech Adami has toiled to
improve the consultative connection to the electorate. Never before
did we witness the highest level of consultative process that was
introduced just prior to the issue of the pre-budget document .His
main weakness is dithering to change his cabinet and smoulder a few
dead wood. The next election race is his first baptism of fire.
The pivotal target for 2008 is to get the deficit to the level of
well below three per cent of the gross domestic product. This will
be based on the prediction that 2007 budget will end at Lm50m in the
red. Reaching such an objective would enable us to cut profligacy
and rein in waste and unnecessary duplication of effort. In theory
any such measures if properly executed will, enable the government
to release some resources that, for the last years, have been
diverted to unproductive activities . In this regard, a serious
attempt should be made to streamline bureaucracy and possibly
announce a 0.5% drop in interest rate.
In
his budget speech for 2007, Dr Gonzi talked highly of the prospects
for a rally in the jobs market. He stated that : “To finish off one
can allegorise that like King Canute Dr Gonzi cannot move back the
waves of globalisation while undue pessimism in pre-election blues
could prove harmful to the efforts to revive the economy. The
trustworthiness of our King Canute is decisive for floating voters
who want to judge their politicians solely on results, not on
rhetoric.