“I want effective implementation of EU rules and scrutiny on the government. If elected to the European Parliament, I will not be there to cover up for the government but to represent people and protect their interests. Look at what happened in the financial services sector. FIAU and institutions were sleeping, notwithstanding blatant abuse. Then they gave several fines which courts are considering as unconstitutional. Now we are in uncertainty. We need more seriousness across the board.” Dr. Peter Agius, PN MEP Candidate, made these remarks during a debate on Financial Institutions and Over-Regulation organized by The Malta Chamber of Commerce, Enterprise, and Industry.
Peter Agius explained that financial services operators are paying the price for the lack of due diligence with Pilatus bank leading to great damage to the industry in Malta and abroad. “Nowhere is the price of corruption and abuse of power as clear as in the sacrifice done by thousands of Maltese professionals who have seen profitability in the industry going down and bureaucracy and regulation going up to make up for the excesses of others. The dragging of feet with regard to the extradition of Pilatus officials adds salt to the wound. While many had to face fines and hardship, the real culprits keep enjoying the good life – scot-free.”
Agius also spoke on the need for fewer rules and better implementation. “We can’t have 200 EU laws a year but then have fuel tanks at Hal Farrug close to private residences and untreated sewage discarded in the sea. These are two textbook cases of Malta disregarding EU laws and standards. If elected as MEP, I will scrutinize both the commission and the Maltese government to ensure EU laws are implemented in Malta and that the rights of citizens and the industry are safeguarded. I want a strong EU on rights, on the environment, on EU opportunities for Gozo and youth, but not a Europe which covers 1000 things without implementing rights. Agius said that he wrote to several ministers but never got a reply. On the other hand, when he wrote to the Commission, he got a reply immediately. He stressed “We need political maturity to defend the rights of citizens.”
Dr. Peter Agius said he disagreed with Malta giving up its fiscal sovereignty as the country relied only on human capital. “How much Malta will lose? Other big countries will gain billions according to reports. We need Europe to make its impact assessment but we need to do ours before legislation is adopted and not after.” In this regard, he referred to the EPP – European People’s Party electoral manifesto, which advocates for assessing the territorial impact of European measures and laws before implementation—a principle he actively advocated for and intends to uphold for Malta’s benefit. He said “This measure is priceless for Malta and I want to make this at the center of EU decision-making.”
Agius added “We need to be more present across the board, to be better prepared to have more competence in Europe. We can’t give up that we can adapt EU laws to our need. I worked in the EU and negotiated over 20 EU laws. I know for a fact that if you have a strong argument and you make it consistently, others will understand and try to accommodate. But once again, we need moral authority in Europe; otherwise, we can’t face Europe and change things to our needs.”
Agius also spoke on the need to work together with stakeholders to adapt EU laws to Malta’s needs. “We need the industry to work with MEPs to leave an impact when laws are still being shaped. We need the contribution of all. I am going to fight for your rights and as promised, I want to empower Maltese stakeholders to work in a collegial way to defend our rights.”
