There seems to be no light at the end of the tunnel for the Nationalist party. Following two heavy electoral defeats which saw the resignations of Dr Lawrence Gonzi and Dr Simon Busuttil, the party saw another record loss at the hands of the Labour party, marking its third consecutive dominant win. The latest defeat has also put the position of the Nationalist leader in doubt as the party has lost with a gap of thirty-nine thousand votes. In the midst of the consistent losses and regular woes, one would doubt whether the problems of the party are solely tied to its leadership.
The situation continues to accelerate in its decline, when one considers that the Nationalist party is perceived as lacking a strategic vision with serious financial problems that threaten its existence.
Recent news reports have covered the statements made by the Nationalist party’s former head of media, Pierre Portelli. His comments do indeed reflect the gravity of the situation and the dire position that the party finds itself in. He stated that the party, which finds itself in a cash-strapped position must seek the forced administration option, with insolvency being on the horizon.
The process of administration is adopted in the business world when a company has severe cash flow problems and must settle its financial commitments, especially those involving external parties. The comments made by Pierre Portelli follow the speech by Dr Bernard Grech, which held a tad of a grim tone. The leader of the Nationalist party stated that there is a debt of thirty-two million Euro. In the bid to gather cash, tough decisions would need to be taken including the sales of some of the party’s clubs.
The statements made by Dr Bernard Grech sparked reactions in view of the grim outlook. Former Nationalist party Member of Parliament Dr Franco Debono expressed his disagreement at the sale of clubs. He argues that this would dilute the presence of the Nationalist party within towns and villages. He also added that clubs have been sold in the past and that this strategy has not yielded value. Instead, the Nationalist party should focus on creatively using its assets and attracting more people, talent and participation.
The current predicament does not bode well for democracy. Considering that Malta has two main political parties that can seriously challenge for government, the financial demise of either one could spell a democratic disaster. What do you make of the situation that the Nationalist party is facing? What do you think should be done? Let us know your views in the comments section below.