Editorial: Bruised egos

POSTED: 11/1/13 11:44 AM

The small islands Saba, Statia and Bonaire seem to have their ducks in a row for the evaluation of the constitutional change in 2015. The islands will have representatives on a committee that will design the evaluation process and thereby have some influence on their destiny after 2015.

This process is also imminent for St. Maarten (and Curacao). The focus on these evaluations will be primarily on financial supervision and on the question whether the islands can continue without it from then on.

If recent history is an indication, we foresee that the outcome of this evaluation will be negative in the sense that the Netherlands will feel a need to prolong the supervision-system. That would not necessarily be bad news. Putting bruised egos aside, the Cft has so far proven to be a critical partner that has kept St. Maarten’s financial household more or less on the rails.

The Social Economic Council has already suggested making an independent financial supervisor a permanent fixture. Maybe politicians won’t like this, but many citizens will have a different opinion. After all, they are footing the bill when the country’s finances go haywire.

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