Editorial: The growing drama

POSTED: 06/7/12 12:08 PM

The drama around the Central Bank of Curacao and St. Maarten just keeps getting bigger and bigger. The latest scene is the request by the board to suspend the director Emsley Tromp. The Government of St. Maarten will respond soon, and likely so will the Government of Curacao. But in reality whatever the governments decide may not make a difference as it is apparently up to the board itself whether Tromp will be suspended or not.
When the suspension and planned investigation does happen things must move quickly as there is more here than just who is right or wrong in particular squabbles. All of these issues and questions around the Central Bank erodes confidence in the economies of Curacao and St. Maarten. That means that new investment, especially for capital, will be hard to come by and the economy will get even worse. That cannot be allowed to happen.
Having a long investigation and then debate over results also means that current issues will be left languishing even longer and that is not something that should be desirable in Philipsburg, especially considering that the country is on the cusp of finally getting a fully functioning branch of the Central Bank that can truly exercise control over financial institutions.
So, simply put: This is something that needs to be solved pronto.

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