Today’s Editorial: A foreign fight with local effects

POSTED: 05/26/11 12:34 PM

The latest crisis at the Central Bank is probably the last thing that the joint financial zone of Curacao and St. Maarten need in what is already a time when investor confidence is not high and there is some uncertainty. In fact the fight between Curacao’s government and the sitting director Emsley Tromp will likely delay some of the key issues that he’s highlighted.
The uncertainty we speak of includes the fact that only one of the transitional arrangements around the bank has been signed, the fact that there is still no clarity about what currency the two countries will use and the fact that the bank lacks a supervisor for its operations. Couple that with the lack of governing programs in both countries and the fact that St. Maarten is undertaking a review on its tax system and the picture emerges that shows investors holding on to their money until they are sure that things are once again stable.
We believe there is sufficient reason for the Government of St. Maarten, though it is not a direct party in the squabble between Tromp and the Schotte cabinet, to be ready to deal with the fallout from Tromp’s potential sacking or use diplomacy to ensure that parties can find some sort of solution.
One thing also becomes apparent now. Curacao remains a volatile island, where the politics of biggest ego and retaliation are part and parcel of the country’s management. St. Maarten must now ask itself, whether it wants to be part of that, or whether it needs to identify another partner.

Did you like this? Share it:
Today's Editorial: A foreign fight with local effects by

Comments are closed.