THIS ISSUE
ENVIRONMENT The role of electric cars in reaching Europe’s energy targets and whether they are a viable option for all in today’s world. page 9
Issue 14 | march - MAY 2013
business agenda
NEWSPAPER POST competitiveness
European Commission proposal for a revision of the Insurance Mediation Directive seeks to improve competition and protect consumers.
page 12
THE Official Business publication of the Malta business Bureau
“Not for me to judge my predecessor’s case”
– EU Commissioner Tonio Borg
EU policy A look at what the creation of the European Banking Union will mean for the banking and financial services industries.
page 14
BUSINESS How small and micro businesses can work together to significantly reduce the burden which results from the limited economies of scale afforded to them.
page 20
CASE STUDY Corinthia Hotels share their experience of the water saving recommendations made by the Life+ Investing in Water project.
page 35
Malta’s top man in Brussels, EU Commissioner Tonio Borg, has revealed that a new Tobacco Directive will seek to regulate emerging products in the tobacco industry that are currently unregulated by the existing Directive. In an interview with Business Agenda, Dr Borg also announced that the new Directive will be making photo warnings on tobacco products compulsory across the EU.
Dr Borg has filled the seat vacated by then European Commissioner for Health and Consumer Policy John Dalli back in October 2012. The latter resigned following an investigation by the EU’s anti-fraud office into a complaint made by tobacco producer Swedish Match. When asked how he plans to restore Malta’s somewhat tarnished reputation following Mr Dalli’s resignation, Dr Borg reiterated what he has insisted on so far;
“Sudden loss of funds would have harmed Malta’s economy” – EU Permanent Representative Marlene Bonnici
Malta’s Permanent Representative in Brussels Marlene Bonnici has revealed that on the table of negotiations for EU funds for the period 2014-2020, Malta argued successfully that a sudden loss of funds would be harmful to the economy, as EU Cohesion Policy funding remains important for the economic development of Malta. The permanent handicaps which result from Malta’s status as an island member state were also brought up during negotiations at EU level, she explained.
In an interview with Business Agenda, she said that the deal reached by Malta for the next programming period is indeed ‘very positive’, particularly since this is one of the most sensitive dossiers in the EU which also requires unanimity. Ambassador Bonnici also asserted that the deal was positive for Malta, particularly with a decrease in the overall MultiAnnual Financial Framework in the current programming period and the fact that the island no longer enjoys Objective 1 status. See full story on page 5.
“I am here to do a job well, and will spare no effort to finish the job on time. There are a number of important issues on the table, where there is a clear benefit for all EU citizens, and this is where I will concentrate my efforts. It is not for me to judge my predecessor’s case. Everyone should be entitled to forward his own views in defence of his position.” See full story on page 22.
Malta set to elect three new MEPs Following their election in Malta’s General Election, three out of the six MEPs who have represented Malta in Brussels over the past four years will now be replaced with three new MEPs. The majority of the candidates who stand a chance to get elected are women. In the case of the Labour Party, entrepreneur Marlene Mizzi is the front runner to replace Deputy Leader Louis Grech, whereas contenders to replace Edward Scicluna are Glenn Bedingfield and Claudette Abela Baldacchino. The winners will depend on who will manage to inherit most votes from the outgoing MEPs.
The candidate of the 2009 MEP election most likely to get elected from the Nationalist Party is Roberta Metsola Tedesco Triccas, who achieved 5,880 votes back in 2009 and will be replacing Dr Simon Busuttil. Nonetheless casual elections can be quite surprising as the successful candidate might not necessarily be the one having the highest first-count votes, so it could well be the case that PN President Marthese Portelli or GRTU Director General Vince Farrugia, who were both candidates in the European elections, could make it instead as everything will depend on who will inherit the majority of Dr Busuttil’s votes.