Published On: Mon, Dec 2nd, 2013

Asjes: ‘Be careful with withdrawal from monetary union’

Ivar AsjesWILLEMSTAD – “The joint monetary system must function properly and both countries Curacao and Sint Maarten must be satisfied with it. The two countries have to consult with each other to see how it can be improved or talk about a possible cancellation of the monetary union,” according to Prime Minister Ivar Asjes in the media.

The Prime Minister said this in response to the advice given by the Economic and Social Council (SER). He reiterates what has been agreed upon in the coalition agreement on monetary union .

SER’s advice

In SER’s opinion the government of St. Maarten should take immediate steps to plan and prepare for a move to make the U.S. dollar the only currency of Sint Maarten. Hence the SER recommends that the monetary union with Curaçao be broken as soon as possible.

Beware

Asjes stressed that he has not read the advice and has only heard about it in the Media. The Prime Minister indicates that the Ministers of Finance of the two countries should keep an eye on the ins and outs of the monetary union. According to Asjes Finance Minister Jose Jardim says that we must be careful with the termination of the monetary union, especially now that we have budget deficits.

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