Central Committee meets bankers

POSTED: 08/8/11 12:36 PM

St. Maarten – The Central Committee of Parliament meets with the Bankers Association tomorrow morning at ten o’clock to discuss the banker’s perception of current developments related to the national economy.
President of Parliament drs. Gracita Arrindell, says that the discussions with parliamentarians comes at a good time with the current volatile situation in the global financial markets, where banker’s could shed some light on possible implications for small developing countries like St. Maarten.
“The instability in the United States and Europe is creating an unsatisfactory global climate with talk in the U.S. of a double dip recession. The decision on Friday by credit rating agency Standard & Poor’s to downgrade U.S. government debt is another issue of concern.

The European Central Bank on Sunday held emergency talks about containing the spreading turmoil on financial markets and the debt of European Union member countries. We have all witnessed what has played out with respect to Ireland, Greece, Portugal, and now Italy is next in line with possibly Spain not far away,” Arrindell said yesterday.
“Besides Parliament getting insight into the current economic situation on the island, the impact of the global situation would give a complete picture of what possible interventions should be taken to safeguard our economy.”

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