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2 maltatoday EXECUTIVE EDITOR Matthew Vella mvella@mediatoday.com.mt Letters to the Editor, MaltaToday, Vjal ir-Rihan, San Gwann SGN 9016 E-mail: dailynews@mediatoday.com.mt Letters must be concise, no pen names accepted, include full name and address maltatoday | SUNDAY • 30 MAY 2021 Tempering Eurovision expectations with realism Editorial TO understand the Maltese psyche that pervades the Eurovision and its orbit of aspirant performers, requires a proper national appraisal of how a tiny nation tends to treat its victories and losses on the international stage. Despite its obvious allure as a tourist destination, with its own particular offering in terms of rich his- tory, there is little by way of international soft power that makes any Maltese presence remarkable. Inside the world's parlours, the Maltese are the price-tak- ers: we don't set agenda, and we take what we can get, punching above our weight wherever we can. Such is the fate of what is, after all, an independent microstate. But what sets the Eurovision apart from all other international appointments, is its low bar of entry. As a population of just 500,000, our ratio of 'excep- tional' citizens tends to be understandably low: that is, you only get one Joseph Calleja every 50 years or so; or one Michael Mifsud per generation... (unless, technically, you nurture the talent by investing as- siduously in it: which is perhaps what Malta should be doing more, all things considered). At that rate, the Maltese are already hampered in international competitions which have a high bar of qualification. Take the World Cup, for instance: the Maltese national team nary manages a draw in some of the qualifying groups; so it is a given for all young Maltese aspiring footballers, as they start to under- stand the world, that neither they, nor any of their compatriots, will ever end up playing in a World Cup match. Oddly enough, this calculation seems to be well understood when it comes to football, and oth- er competitive sports. And it doesn't stop us from playing (and loving) the 'beautiful game'; or even, for that matter, from participating in international competitions. It does, however, temper our national expectations with a harsh degree of realism. And this is precisely what seems to fly out of the window when it comes to the Eurovision Song Contest: perhaps because of the few odd occasions, in the past, where Malta reached the top five (without ever winning the con- test as a whole). In a sense, then, Eurovision is seen to occasional- ly 'buck the trend'. As an international contest of pop-template kitsch, its low bar of entry – the only requisite is being a member of the European Broad- casting Union – allows us to be within a perceived arm's reach of this Holy Grail of Europe-wide rec- ognition. Naturally, this approach comes with its drawbacks – namely, an annual sensation of disappointment, that undeniably affects the national mood - but it has its advantages, too. Certainly, Malta's participation in the ESC gives us the opportunity to take a long, hard look at our- selves… not just from our own insular perspective, but also by providing a glimpse of how the Maltese are perceived at European level. Indeed, perhaps nothing more than the ESC has elicited so much debate about the quality of 'Mal- teseness', that is – in this case – transmitted by the power of song, and why this could be our national ticket to greatness. For every year's contest carries with it the highest hopes (if not a sense of entitle- ment) that Malta should rightfully win the Eurovi- sion Song Contest; regardless of all competition. Alas, the desired victory always proves elusive. But like all ESC post-mortems, our nation proves ready to castigate itself for its failings on a stage that has spawned a particularly mawkish sub-genre of pop; one whose value only seems to be garishness, sar- torial lunacy, turbo-folk anthems, and the frisson of continental prejudice between old nemeses. Malta's existential failure remains its compulsion at trying too hard at achieving this plastic Europe- an victory of sorts. Again, if one were to treat this matter as a question of our national psyche... why not field Maltese talent instead, with its exceptional song-writing capabilities – and without the vanilla, mealy-mouthed odes to childish love – and sung in the Maltese language? The Maltese scene is replete with accomplished musicians and songwriters who, in the last 20 years, have rewritten the score of popular Maltese music. Why don't we get to stomp on that stage, with no illusory claim to victory (which after all, has given none of its victors the longevity of fame: except, per- haps, for the few who had been established in the pop scene), with an act whose authenticity showcas- es a laid-back, almost 'disinterested' Malteseness? Truth be told, we have nothing to lose by adopting that approach; on the contrary, there is much to be gained… not least, the show-casing of true Maltese national talent: of which – contrary to our Eurovi- sion results – we have in abundance. 29 May 2011 BOV payout has 'hidden ploy' says stockbroker IT is the second time stockbroker Paul Bonello – a former Air Malta director and one of Midi plc's directors – launches a scathing, clinical- ly precise dissection of Bank of Valletta, the banking giant which has spent nine months in an unwieldy public relations battle to shrug off responsibility from the fracas of its La Valletta Sicav's multi-manager property fund. Bonello single-handedly crafted an academic onslaught on BOV's practices and the way it man- aged the property fund – a fund that at its height was worth some €80 million in investments that were poured into real estate markets. Today it is worth less than €24 million. At first Bonello was privately discredited by certain members of the bank. The term 'nothing but a little stockbroker' was floated about with liberty when, between August and December 2010, he filed one judicial protest after another in the name of some 400 investors, claiming BOV had broken its own fund rules. It invested in real estate funds it had contractually bound itself not to invest in. Earlier this week, Bank of Valletta announced a conditional offer to acquire the shares held by the fund investors at a consideration of €0.75 per qualifying share. Roderick Chalmers, the government-appoint- ed Bank of Valletta chairman who at the start of the judicial protests told Bonello to "put up or shut up" and proceed with legal action, has had to temper his bullishness. But Bonello doesn't like the terms of his conditions, and he thinks the price is not nice at all. And another thing: the people who did the math for BOV are the same people who audit the accounts of the fund. In short, it stinks and he is even raising questions about whether the bank had the "blessing" from the financial regulator for its "ruse". Ruse, because the offer is being made "without prejudice" and "without admission of liability", meaning that investors must relinquish any right to legal action against the bank, should it be found liable of any misdemeanour by the Malta Finan- cial Services Authority. But the latter, which con- ducted three investigations – the bank's breach of the fund's investment restrictions, mis selling the fund to people who were not, legally speaking, Quote of the Week "If it is concluded that taxpayer's money were used to place betting odds to improve Destiny's chances - this would be 100% unacceptable" Howard Keith Debono on claims that Eurovision cash was used to place bets on Malta's song for the ESC MaltaToday 10 years ago