Malta proves that oligarchs are not all Eastern European – Bloomberg

The authoritative business channel Bloomberg published an article entitled “Malta Proves Oligarchs are not all Eastern European”. The article analyses the current constitutional crisis in Malta tying the corruption scandals to the murder of Daphne Caruana Galizia and the highest echelons of power in politics and business.

“The government crisis in Malta, one of the smallest European Union members, shows that oligarchs who purchase political influence — and who may do just about anything, including commit murder, to avoid being caught — aren’t just a post-Communist phenomenon” wrote Bloomberg. The article gives a background of who is Yorgen Fenech and the Tumas group’s involvement in the various business ventures as well as Daphne Caruana Galizia’s interest in the power station project.

“Caruana Galizia was interested in the project, which locks the government-controlled utility company Enemalta Plc. into a long-term contract to purchase gas and electricity from ElectroGas. In February of 2017, she published a strange blog post, linking four Maltese politicians — Prime Minister Joseph Muscat; his chief of staff, Keith Schembri; government minister Konrad Mizzi; and former minister and European commissioner John Dalli — with a Dubai company called 17 Black Ltd. Later that month, she mentioned the firm again as “the company which those crooks use to move money in and out of Dubai ”” wrote Bloomberg.

Bloomberg said that PM Muscat would be well advised not to wait for the results of the investigation and vacate his post with immediate effect. He said that in Slovakia, the murder of journalist Jan Kuciak spelled the end of Prime Minister Robert Fico. Bloomberg said that joining the EU is no guarantee that oligarchs will not emerge.