Il-President tal-Bank Ċentrali Ewropew, Mario Draghi, reġa’ jinsab fiċ-ċentru ta’ kontroversja ġdida dwar il-politika monetarja fiż-żona tal-ewro.
L-aħħar statistika dwar l-andament ekonomiku u finanzjarju fiż-żona baqgħet tqanqal tħassib. L-għoli fil-prezzijiet meħtieġ biex jirranka l-investiment baqa’ baxx wisq. It-tkabbir ekonomiku għadu fraġili: qed jissejjes wisq fuq żieda fl-esportazzjoni ta’ prodotti u servizzi, għax il-valur tal-ewro fis-swieq internazzjonali tal-flus tbaxxa sew.
Jaħti għal dan kien il-programm hekk imsejjaħ ta’ “quantitative easing” li l-bord tal-BĊE daħħal xi xhur ilu. Il-Bank nieda x-xiri kull xahar ta’ 60 biljun ewro ta’ titoli ta’ self tal-gvernijiet mis-swieq finanzjarji. B’hekk beda jippompja dawn il-biljuni bħala flus “kontanti” fl-ekonomiji, ħaġa li suppost ġabet magħha għoli fil-prezzijiet.
Dwar hekk, ir-riżultati kienu diżappuntanti. X’jista’ jsir? F’Malta, Draghi kien wiegħed li jibqa’ jagħmel minn kollox biex il-miri tal-Bank jintlaħqu. Madankollu, ma tantx baqagħlu għodod effettivi x’juża.
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KM
Uħud mill-bidliet imgħaġġla li qed iseħħu fit-trasport bl-ajru jissimplifikaw il-ħajja, oħrajn iħalluk konfondut. Ġieli jagħmlu t-tnejn f’salt, kif qed ninduna minħabba li nkun ta’ spiss fl-ajruporti. Ġrali hekk dan l-aħħar b’servizz “ġdid” li toffri l-Air Malta, kumpanija li rari ma tagħtix servizz impekkabbli.
Bidla siewja hi l-faċilità li daħħlu l-kumpaniji tal-ajru biex mid-dar, bl-internet, tħejji bil-lest il-“boarding pass” tiegħek. Bejn Malta u Brussell, dil-ħaġa tista’ tagħmilha mal-Air Malta; imma mhux lura, għax, qaluli, il-programm elettroniku li jmexxi dil-ħaġa għadu qed jinkiteb.
Biss, jekk it-titjira lura lejn Malta tkun bħala parti minn vjaġġ ma’ kumpanija oħra, pereżempju Brussels Airlines bejn Strażburgu u Brussell, u mbagħad minn Brussell għal Malta bl-Air Malta, ta’ Brussels Airlines ma jsibu l-ebda problema biex jipprovduk b’“boarding pass” għal Malta.
Sitwazzjoni stramba għall-aħħar.
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L-elezzjoni Spanjola
L-elezzjoni Spanjola fil-ġimgħa tal-Milied qed tipprometti li tkun dramm politiku mill-aqwa. Is-soltu l-elezzjonijiet fil-pajjiz ikunu l-aktar tellieqa bejn tnejn, il-Popolari u s-Soċjalisti, partiti li jitbandlu madwar l-istess persentaġġi ta’ voti.
Did-darba, daħlulhom bil-kbir fl-għalqa żewġ partiti ġodda fjamanti, imwielda mis-sens ta’ protesta fi Spanja mkebbes bil-politika ta’ awsterità mħaddma mill-gvern tal-Popolari mmexxi mill-Prim Ministru Mariano Rajoy. Il-Partit tal-Ċittadini jinsab ras imb’ras maż-żewġ partiti l-kbar; il-Partit tal-Podemos waqa’ lura imma jiġbed maż-żewġ terzi tal-vot tat-tlieta l-“kbar”.
Il-gazzetta El Pais organizzat l-ewwel dibattitu fi Spanja bejn il-mexxejja tal-partiti u ttrażmettietu fuq l-internet. Rajoy irrifjuta li jattendi. It-tliet mexxejja l-oħra taw wirja tajba ħafna.
Saħħet il-fehma li l-“ġodda” għandhom alternattiva x’joffru u se jkunu f’qagħda li jirbħu ħafna voti.
English Version – Draghi’s Targets
The President of the European Central Bank is back again at the centre of a new controversy about monetary policy in the euro zone.
The latest data about the economic and financial outturn of the zone is still worrying. The inflation level required to boost investment is still far off. Economic growth remains fragile: it relies too heavily on growth in exports of goods and services, stimulated by the depreciation of the euro on international currency markets.
This resulted from the so-called quantitative easing programme launched by the ECB board some months ago. The Bank started a monthly purchase from secondary markets of government bonds to the tune of 60 billion euros. Effectively in this way, it pumped the same amount of money in “cash” into euro economies, which was supposed to trigger an increase in prices.
Results on this score have been disappointing. What can be done? In Malta, Draghi promised to do all that needed to be done to achieve the bank’s targets. However, the range of effective tools at his disposal is limited.
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KM
Some of the rapid changes taking place in air transport simplify matters, others leave one confused. As I am realising, having become a frequent user of airports, sometimes they do both. That’s what happened recently with a relatively new facility provided by Air Malta, a company which rarely fails to provide impeccable service.
Air companies have made it possible via the internet to prepare and print your own boarding pass, which is convenient. From Malta to Brussels this can be done with Air Malta, but not in the reverse direction. I was told that the reason for this is that the software required to run such a system is still being put in place.
However if your trip back to Malta from Brussels is part of a longer itinerary starting with another air company, say Brussels Airlines flying from Strasbourg to Brussels, and then from there to Malta, there’s no problem. Brussels Airlines supply you via internet with a boarding pass on to Malta.
Weird is the word for it.
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Elections in Spain
The Spanish elections during Christmas week hold the promise of a tight political drama. Usually elections there have followed the model of a two way race between the Popular and the Socialist parties, with their approval ratings oscillating around practically equivalent levels.
This time, two brand new parties have burst on stage in a big way. They emerged from the upsurge of protest in Spain against the austerity policies implemented by the governing Popular Party, led by Prime Minister Mariano Rajoy. The Citiżens’ Party is now running neck and neck with the two “big” parties. The left wing Podemos has fallen back but its backers still stand at two thirds of the voting levels claimed for the three “big” parties.
The El Pais newspaper organised the first ever debate in Spain between party leaders which it relayed over the internet. Rajoy refused to participate. The other three leaders gave a very good show.
It reinforced the belief that the new kids on the block can offer alternative policies and will be in a position to secure wide voter support.
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