Say nice things about the European Union: EU gives Barbados hundreds of millions of dollars in free money!

Is this really about Slavery Reparations?

I really haven’t figured out why the bankrupt European Union keeps giving Barbados hundreds of millions of dollars in grants, forgivable loans and other free money. It’s so frequent that the EU has a standard press release wording that they just drop the amount and the reasons into – complete with the standard quote from the Charge d’Affaires of the European Union Delegation to Barbados and the Eastern Caribbean: “This clearly demonstrates the continued commitment by the European Union to supporting Barbados, especially in these difficult times of a sustained global financial and economic crisis…”

Go ahead, Google that phrase and you’ll see what I mean!

Nor have I figured out what our leaders do with all that free money. Remember when former Prime Minister Owen Arthur balked when the European Union wanted proof of what we did with the sugar money from the EU?

Why does the EU keep giving us money, and why won’t our leaders account for what they do with the money to either the EU or the citizens?

As Father Dubin used to say, “It’s a mystery my son.”

Further Reading

Here’s the latest EU Press Release as found in the Anguilla News

European Union disburses over BBD$4.7 million for Barbados’ International Business Sector

The European Union has released BBD $4,741,740 ( 1,9M euros) as direct Budget Support to Barbados in support of the International Business Sector The funds take the form of a nonreimbursable grant, the final disbursement under this programme, which has already received BBD $11,857,826 (4.75M euros).

Charge d’Affaires of the European Union Delegation to Barbados and the Eastern Caribbean, mClaude Bochu said: “This clearly demonstrates the continued commitment by the European Union to supporting Barbados, especially in these difficult times of a sustained global financial and economic crisis. The funds will specifically contribute to strengthening the institutional framework of regulation mand supervision of international businesses and to creating an enabling environment to improve efficiency and competitiveness of the sector”.

This final payment, in particular, was made on the basis of Barbados’ satisfactorily meeting some key targets related to the implementation of the Strategic Plan for the International Business Sector, namely licensing of new entities, development of an operations manual for licensing procedures and reduction in the number of days for processing an International Business License application.

In parallel, Barbados and the EU have formulated a follow-on Budget Support programme in the area of Human Resource Development for an amount of BBD$122 million (49 million euros), which will support capacity building, knowledge management, development of a National Qualifications Framework, research and development, and support to the development of the green economy during the period 2011-2016.

This is further proof that the EU continues to deliver on its promises to improve Barbados’ development in raising the living standards of citizens.

11 Comments

Filed under Barbados, Economy

11 responses to “Say nice things about the European Union: EU gives Barbados hundreds of millions of dollars in free money!

  1. easy arithmetic

    If you print fiat money without any real collateral security you are devaluing
    your currency at the expense of those that have paid taxes and have saved
    monies. Ie stealing

    As a consequence, it’s really quite easy to give away money you have just stolen especially by those who have nothing to lose and everything to gain by kicking the can down the street.

    It’s a much easier pill to swallow than having to face the music and write down your phoney debt to its real value.

    The music has stopped but no one in government wants to give up their chair

  2. Canadian Tourist

    I’m assuming this is in fact “Tied-Aid” in which the EU gives Barbados money on condition it is only spent on products within the EU which will in turn be exported to Barbados. It is a way for a manufacturing nation to increase its economy at home while appearing to be good Samaritans overseas. Canada has an entire government department dedicated to this, CIDA, the Canadian International Development Agency.

  3. Son Of Spam

    Based on “easy arithmetic’s” comment is the new Central Bank $20 bill a form of qualitative easing? Isn’t raising VAT a form of devaluation as well?

  4. Nutzs Barley

    History, Family ties And Geography….Barbados Needs Britain And They Need Barbados…..it’s that simple…..thank God it work’s the way it does… We could have been a Colony of the others (French/Portugal/Spain)…. Or Are you Glad the British Got there first ?

  5. Brudah-Bim

    @ Nutz Barley

    You sound like a bloody slave….

  6. 34534578nn-r35634b

    Nutz Barley sounds perfectly logical to me!

    You might not like what’s said, but it’s true and logical.

  7. Harry callihan

    now their economic hit men will soon come for the pay back.
    they will expect something in return for sure.possibly the whole island if you can not pay back.
    or you power company,or your rights to drill for oil offshore.
    and whoever the prime minister is at the time turns them down he will be taken out.all people know you don’t get something for nothing especially these days.
    wait a while.payback is a bitch,stupid fools

  8. Harry callihan

    sound too good to be true——–usually means that is !!!!!!!!some sort of manipulation involved.

  9. Jay

    Actually,some Caribbean islands have some disdain for how the British handle their local affairs sometimes and have threatened so with going independent or to be governed by another country altogether.Turks and Caicos is a prime example of what has been going on as well as other countries….but the reality is that since the UK government have allowed a transition to Full EU citizenship it seems to be just “talk” really.

    If I’m not mistaken the reason why the EU gives money is simply because they agreed to do so in the new EU-Caricom EPA agreement.

  10. The Man holding the purse

    “If I’m not mistaken the reason why the EU gives money is simply because they agreed to do so in the new EU-Caricom EPA agreement”

    Doesn’t the nation giving the money have to esure that the basics building blocks of their democracies are carried out in countries they lend to; vigorously by demanding full pasage and implementation of ITAL and The Rule lo Law?

    Without insisting on these miminmum standards and reforms, these countries are essentially lending to those that cannot and will never repay.

    Have these lender countries, propped these third contries up simply to have them addicted to cash money without any trickle down or real growth that simply flows into a few hands and then disappears into the great wide offshore Bank in the sky.

    Barbados and others need to be raised up substantialy with a real and effective Rule of Law with proper rules and policing or be cut off immediately with tough love!