Article Seven of the Treaty of Nice provides that the European Council, by majority rule of the Members of the EU, may recommend that any Member state be suspended for "serious and persistent breach" of the Council's guidance. This includes voting rights within the Council.
Given that the Council has taken Malta to task for its Individual Investment Program (CBI/IIP), as well as noting that the EU revoked the banking license of Pilatus Bank, for corruption and money laundering, and not a single individual has been charged with any of the multiple crimes that they committed in these matters, is it now not high time for the Council to consider Suspension ? Neither the report of the Egrant Magisterial Investigation, nor the conviction of Pilatus Bank owner Ali Sadr Hasheminejad, has resulted in ANY action by Maltese law enforcement, or government prosecutors.
When corrupt PEPs receive millions of dollars, and in return dispense favorable treatment to the donors, effective government for the sole benefit of the public goes out the window. Ali Sadr should never have received a bank charter; a number of high-risk individuals should never have been issued Malta passports under the IIP. Perhaps the European Council can now take a hard look at Suspension as a means through which true reform can be eventually achieved in the Repubblika ta' Malta.