Today is Election Day in Malta, how logical to have it on a Saturday when everyone is off work. The Nationalist (conservative) Party has been in power for 25 years and the opinion polls are suggesting that Labour (liberal) may win this one. The results will be counted tomorrow and apparently everyone goes crazy. They drive around honking and hooting and causing general traffic and noise issues no matter who wins. In fact, just about every business and store is closed on Monday as they are expecting so much mayhem. It won’t be riots, it’s much more civilized than that but it should be crazy.
The Nationalist Party has done good things for Malta – Malta is the smallest and one of the most successful economies in the eurozone. It has strong tourism and financial sectors so unemployment is low, growth is strong, and the government has low debt. The economy has been very stable considering the upheaval of the world economy. However, one of the main issues is that Malta has some of the highest electricity prices in the world, by 25%! We just got our electric bill for the last 6 months and were completely shocked at how high it was. At least as high as we paid in the US if not more. Turns out there is alot of corruption in the power system which has aggravated the problem even further. Labour’s main election pledge has been that they will reduce electric prices, but this would entail a new power plant which would not exactly add to Malta’s ancient beauty.
I will let you know the outcome of the Election.