Gracita says timing is good as global economy displays risks
The Central Committee of Parliament will be meeting with the Bankers Association on August 9 with respect to the banker’s perception of current developments related to the national economy.
President of Parliament Hon. drs. Gracita Arrindell, says that the discussions with parliamentarians also 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 Sint Maarten.
The Central Committee meeting will take place in the General Assembly Chamber of Parliament at 10.00am on Tuesday.
“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 with respect to how to contain 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.
“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 own national economy,” President of President Hon. Gracita Arrindell said on Sunday.