Hey Buddy, can you spare Barbados a dime?

How is it possible that we are here? Begging the EU, begging China, begging anyone to help us keep the lights on and the water flowing?

Leadership – that’s what got us into this mess, and the same leadership says it can take us out of the mess: but only if we beg and borrow…

BRIDGETOWN—The European Union says it is willing to provide Bds$100 million to Barbados in grant funding. A statement issued following talks between Barbados and EU delegations, noted that the funds would become available once certain macro-economic and public finance criteria were fully met. It said Bds$65 million could become available to Barbados this year. The European Union last year released Bds$28 million for the Barbados Human Resource Development Programme, while another Bds$15 million was provided through the Barbados Renewable Energy Programme, all in the form of non-reimbursable grants. The EU delegation was led by Ambassador Mikael Barfod, while Finance and Economic Affairs Minister Chris Sinckler led the Barbados team. “The EU would like you to know that it could assist Barbados in leaving the present crisis behind,” Barfod told Sinckler.

Guardian Media

9 Comments

Filed under Barbados, Business & Banking, Disaster, Economy

9 responses to “Hey Buddy, can you spare Barbados a dime?

  1. Party Animal

    I hope that they stipulate in BOLD print, no more tieffing too.
    Where is a Hundred Million going to take us, when we need at least Two Billion to sort us out

  2. EU enablers

    its doubtful that the EU has written off the debt of Barbados as this would make their balance sheet more shaky.

    If they weren’t part of.the same corrupt banking daisy chain they would insist on ITAL legislation immediately together with active enforcement.

    Whats the point of having economic power if you won’t exercise it for the common good?

    The EU is part of the problem

  3. GreenMonkey

    The EU is part of the problem”

    And it looks like the Eurocrats might be now in the process of steeling up the nerve to go public with their proposed solution.

    Debt Rattle Feb 13 2014: Are Your Savings Safe From Bail-Ins?

    snip

    On the one hand the OECD has been pushing rosy forecasts about anything anyone wanted to hear, on the other they are now forced to admit those forecasts were, essentially, made up out of thin air. Still, what looks like a great way to disqualify oneself :“Challenges were compounded by the unusually high speed and depth of cross-country interconnections between real and financial developments, the increased variability of economic growth compared with the pre-crisis period, the lack of timely data on many important financial factors, and the limited understanding of macro-financial linkages … “, will instead undoubtedly only be used to keep on churning out the nonsense. That’s both its MO and the reason it’s so royally funded, after all.

    But the grand crazy stuff prize for the day goes to the Reuters article that details a leaked European Commission report in which Brussels considers confiscating (not their word of choice) 500 million Europeans’ personal savings and use them “to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis.”.

    http://www.theautomaticearth.com/debt-rattle-feb-13-2014-are-your-savings-safe-from-bail-ins/

  4. GreenMonkey

    What’s with the sudden spate of senior banking execs suddenly deciding life is no longer worth living and (allegedly) bumping themselves off?

    http://investmentwatchblog.com/we-were-warned-banker-murders-conspiracy-cover-up-statistically-impossible-video/

  5. @ EU Enablers
    No truer words could ever be spoken.
    If the EU is really interested in helping Barbados out of its present-day economic difficulties and planting the economy on a sound economic footing so as to enable meaningful sustained future economic growth, it would be loud in its demand for, and trumpeting of, the need for ITAL legislation. Corruption and thievery at the highest levels are the root causes of the nation’s current economic difficulties !

  6. GreenMonkey

    And a peculiar smell that’s akin to the malodorous scent wafting off a pile of rotting garbage left too long in the sun isn’t just coming out of the EU:

    White House sued for covering up crimes of JPMorgan

    Better Markets, a non-profit Wall Street watchdog, filed a lawsuit Monday against the US Department of Justice (DOJ) alleging that its $13 billion settlement with JPMorgan Chase over the bank’s sale of toxic mortgage-backed securities in the run-up to the financial crisis was an illegal cover-up.

    Better Markets said the deal, worked out in November 2013, “gave JP Morgan Chase… blanket civil immunity for years of alleged pervasive, egregious and knowing fraudulent and illegal conduct that contributed to the 2008 financial crash and the worst economy since the Great Depression.”

    The lawsuit argues that the Department of Justice sought to use the deal—the largest settlement with a single entity in US history (by more than 300 percent)—to protect JPMorgan and its executives from prosecution. Under the terms of the settlement, the bank was not required to admit to any wrongdoing.

    snip

    The criminal activities of JPMorgan are not the exception on Wall Street, but the rule. In 2011, Senator Carl Levin, chairman on the Senate Permanent Subcommittee on Investigations, oversaw a 630-page report on the financial crash detailing illegal activities by Washington Mutual, Deutsche Bank and Goldman Sachs that contributed to the global crisis. He said the investigation had uncovered “a financial snake pit rife with greed, conflicts of interest and wrongdoing.”

    More at:
    http://rinf.com/alt-news/latest-news/white-house-sued-covering-crimes-jpmorgan/

  7. robert ross

    “Leadership….that’s what got us into this mess.”

    What ‘leadership’ was that then?

  8. GreenMonkey

    More about the dead bankers:

    Exposing what lies beneath the bodies of dead bankers and what lies ahead for us

    If the bodies were dots on a piece of paper, connecting them results in a sinister picture being drawn that involves global criminal activity in the financial world the likes of which is almost without precedent. It should serve as a warning that we are at the precipice of something so big, it will shake the financial world as we know it to its core. It seems to illustrate the complicity of big banks and governments, the intelligence community, and the media.

    Although the trail of mysterious and bizarre deaths detailed below begin in late January, 2014, there are others. Not only that, there will be more, according to sources within the financial world. Based on my findings, these are not mere random, tragic cases of suicide, but of the methodical silencing of individuals who had the ability to expose financial fraud at the highest levels, and the complicity of certain governmental agencies and individuals who are engaged in the greatest theft of wealth the world has ever seen.

    snip

    It is an insult to the public intellect that the media so readily pushes the official line that the deaths were all suicides given the unusual circumstances surrounding nearly all of those listed. This itself should be ringing alarm bells with anyone of reasonable sensibilities, or at last those who are paying the slightest bit of attention to the larger picture. The media is either complicit or completely inept. While incompetence is evident in many areas, even the most inept journalist or media company cannot possible deny what exists directly in front of them. They can only withhold the truth.

    http://www.homelandsecurityus.com/archives/10482

  9. GreenMonkey

    US economist and former Assistant Secretary of the Treasury (in the Ronald Reagan administration) Paul Craig Roberts links to some sources confirming large-scale EU corruption in his latest post regarding the ongoing Ukrainian protests against Ukrainian government corruption.

    Of course, not all of the protesters are paid. There are plenty of gullible dupes in the streets who think they are protesting Ukraine government corruption. I have heard from several. There is little doubt that the Ukraine government is corrupt. What government isn’t? Government corruption is universal, but it is easy to go from the frying pan into the fire. Ukrainian protesters seem to think that they can escape corruption by joining the EU. Obviously, these gullible dupes are unfamiliar with the report on EU corruption issued February 3 by the EU Commissioner for Home Affairs. The report says that a business-political nexus of corruption affects all 28 EU member countries and costs the EU economies $162.2 billion per annum. According to the World Bank, the economic cost of EU corruption is almost as large as the size of Ukrainian GDP. Clearly, Ukrainians will not escape corruption by joining the EU. Indeed, Ukrainians will suffer worse corruption.

    I have no objection to Ukrainians protesting government corruption. Indeed, such gullible people could benefit from the lesson they would learn once their country is in the hands of corrupt Brussels and Washington. What I object to is the lack of awareness on the part of the protesters that by permitting themselves to be manipulated by Washington, they are pushing the world toward a dangerous war. I would be surprised if Russia is content to have US military and missile bases in Ukraine.

    It was fools like Nuland playing the great game that gave us World War I. World War III would be the last war. Washington’s drive to exploit every opportunity to establish its hegemony over the world is driving us all to nuclear war. Like Nuland, a significant percentage of the population of western Ukraine are Russophobes. I know the case for Ukrainian dislike of Russia, but Ukrainian emotions fueled with Washington’s money should not direct the course of history. No historians will be left to document how gullible and witless Ukrainians set the world up for destruction.

    http://www.paulcraigroberts.org/2014/02/17/us-eu-paying-ukrainian-rioters-protesters-paul-craig-roberts/