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maltatoday, WEDNESDAY, 5 FEBRUARY 2014 7 News Party financing: a step forward, but details in need of drastic overhaul – AD JEROME CARUANA CILIA WITH reference to the White Pa- per presented by the government on Monday on party financing, Deputy Chairperson of Alternattiva Demokratika, Carmel Cacopardo, said that this is a positive move that Alternattiva Demokratika has included in all its electoral pro- grammes since 1992. "AD is in complete agreement with the principles of transparency and accountability that the White Paper promotes, but feels that there needs to be a profound debate on the de- tails that is about how the law will eventually be implemented. "AD believes that the donation amounts proposed in the White Pa- per are too high and should be re- duced, as should the limits for per- missible expenditure by candidates in various elections," Cacopardo said. "The White Paper does not men- tion loans that parties may acquire from time to time. Neither does it refer to the commercial enterprises owned by the same political par- ties," he reiterated. Arnold Cassola, Chairperson of Alternattiva Demokratika, said that AD notes that there is no reference to the expenditure which political parties are allowed to make during an electoral campaign. "There should be a reasonable limit for this together with sensible thresholds for expenditure by indi- vidual candidates," he reiterated. The Green Party understands the need for legislation regarding party registration but feels that the White Paper goes into too much detail in this regard. "AD plans to participate in con- sultation with the other parties to submit its own proposals," Cassola said. Numerous 'important people' interested in the citizenship scheme The citizenship scheme conveyed the message that Malta has an unstable economy, says economist Francis J. Vassallo ECONOMIST Francis J. Vassallo, a former governor of the Cen- tral Bank of Malta, affirmed that his firm has numerous pending requests from individuals inter- ested in the Individual Investor Programme. These potential in- vestors are from the Eastern bloc, Asia, Northern Europe, and South America. Although refusing to comment on the specific number of inves- tors interested in this scheme, he said that these were "important people". Famous people – among them footballers – are also inter- ested in the Individual Investor Programme. Speaking on TVAM, Vassallo said that Malta's monetary struc- ture is strong and that our coun- try is not suffering from a finan- cial crisis. "However, this scheme passed on the message that we have an unstable economy. This gave a negative impression to for- eign investors." "Indirectly, this scheme affected Malta's economy," he said. Vassallo was pleased that Malta and the European Commission have reached an agreement on the IIP after a series of negotiations. Asked whether these potential investors are reliable, Vassallo claimed that they are. He hasn't yet met with these individuals be- cause he was awaiting the publi- cation of the new citizenship legal notice before doing so. This legal notice was vetted and approved by the European Com- mission's legal services, providing Malta with the first such invest- ment programme to be sanctioned by the European Union. He doesn't agree with the condi- tion that participants have to at least purchase €150,000 in gov- ernment issued bonds or shares. "This is because bonds are gov- ernment's debts and hence I'm not in favour of this prerequisite." Download the MaltaToday App now Francis J. Vassallo Suspended sentence for drug user RODRICK Muscat, 26 of Tarxien, was handed a suspended jail term after pleading guilty to drug pos- session and relapsing, with Magis- trate Galea Sciberras stating that a jail term is not the right punish- ment in this case. Inspector Victor Aquilina said police apprehended Muscat on 14 July 2012 and that a piece of can- nabis resin was found in his pos- session. The prosecution stated that Aquilina relapsed and com- mitted an offence during the term of a suspended sentence. Muscat pleaded guilty as charged. Considering the amount of drugs found was minimal, and that the accused had admitted to his crime during the early stages of the pro- ceedings, Magistrate Natasha Galea Sciberras held that an ef- fective jail term should not be im- posed but that the accused should remain under an order of supervi- sion for the next 12 months. She fined the accused €850 and ordered that the four-year suspended sentence handed to Muscat in 2010 will now re-com- mence. Inspector Victor Aquilina pros- ecuted while lawyers Franco Debono and Marion Camilleri ap- peared for the accused. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Carmel Cacopardo Arnold Cassola

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