Editorial: Simple only for some

POSTED: 03/28/12 11:17 AM

Is there a future for the Central Bank of Curacao and St. Maarten? That is a question that has a simple answer for some and a far more complicated answer for others. Very simply it is a means of getting rid of another vestige of the now defunct Netherlands Antilles. On a more complicated level it opens a veritable can of economic worms that center on whether the succeeding institution will be able to provide the required stability to keep the economy going and growing.
So yes while we expect that President of the Central Bank Emsley Tromp will give an answer to parliament on this matter, we expect his words to be measured and above the political rhetoric of the day. One thing we dare to point out is that economic and monetary unions help to create a certain stability in local jurisdictions. Right here in the region nine territories have stayed stable through their partnership in the Eastern Caribbean Central Bank. Across the ocean the European is kept somewhat stable by the rules handed down by the European Central Bank.
While one can easily point out that one partner in a joint central bank is dragging the other down at a given moment, we must place into the context that we all go through rough patches. Albeit that Curacao’s rough patch has been an extended one and the Schotte cabinet has yet to find a way to truly end the downward spiral.
So yes it’s simple for some to say no future together, but that creates complications for lots of others.

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