How ironic that the traditional party of the local elite is mired in €32 million in debt. In the rent-seeking regime, even the right-wing and conservative party can’t do business to save itself.
Bernard Grech says that they may have to sell their social clubs. It’s insanity: doing the same thing over and over again expecting a different result. I think the Nationalists by now have a fetish for pain and suffering. They like living in their self-pity tragedy of insurmountable challenges. They like being “imsieken”.
€32 million is a lot of money but it’s neither a big number. I mean, Adrian Delia by himself, owes at least 3% of the equivalent? How much? Remind me, please.
But selling your social clubs won’t pay that debt. And why would anyone sell their best asset instead of selling their liabilities? It just doesn’t make sense to me, and I’m not even a financial advisor. I’m unemployed.
According to Bernard Grech, the liabilities seem to be the media and the party operations. So, common sense would tell you that the PN should sell their media and let go of their central operations to instead focus on the social clubs which can be easily made profitable while serving as political and campaign centres.
Maybe, PN can save itself by turning Dar Ċentrali into a towering real estate project. They can even turn some of it into affordable housing to make some politics out of it. It’s probably the only way. Why would you keep a property which is losing you money just so that the press can film you going into a board meeting? It’s preposterous. Then they want to sell their social clubs which are potentially a strong political and financial asset and keep their liabilities instead. Don’t they even have a financial advisor?
Hilarious. Had we not lived in an illiberal democracy I would have had a laugh watching the Nationalists hurt themselves intentionally, but maybe, it’s not funny at all.
You are so right on this. It would be the end of PN if they sell their social clubs.