Political Games at the Central Bank: A Blow to Governance and Credibility.

PHILIPSBURG:--- The recent nomination of Attorney Jairo Bloem as Chairman of the Supervisory Board for the Central Bank of Curaçao and Sint Maarten is not a step towards stability, but a flagrant political power play that tramples over established procedures and undermines the very institution it claims to strengthen. This unilateral move by Sint Maarten’s Minister of Finance represents a dangerous disregard for due process, legal certainty, and the credibility of a shared monetary union.

According to Article 25 of the Bank Charter, the appointment process for the Supervisory Board's chairperson is crystal clear. It is a joint responsibility of both countries, based on a joint nomination from both Ministers of Finance. Crucially, this nomination must be based on a recommendation adopted by a five-sixths majority of the Supervisory Board itself. This is not a suggestion; it is a statutory safeguard designed to ensure that the leader of this critical institution is chosen through consensus, expertise, and careful consideration, not political whim.

The Supervisory Board has diligently followed this process. Twice, they have put forward a candidate who secured the required five-sixths majority, only to see these candidates become unavailable during the lengthy appointment phase. Rather than supporting the Board as it restarted this meticulous and time-consuming process, the Minister of Finance chose to go rogue.

 That, ignoring the Board's efforts and the explicit legal framework, the Minister has put forward Mr. Bloem as a personal nominee. This action undermines the established procedures. The legal opinion justifying this move conveniently claims that the Minister can intervene due to "political inaction" and the Board's supposed failure to act. This is a distorted reality. The Board was actively engaged in the proper procedure, a procedure which the Minister has now decided to short-circuit for political expediency.

The argument that the Board’s recommendations are not binding is a weak and self-serving interpretation. While the Minister may have some leeway, the spirit and letter of the law clearly intend for the Board's recommendation to be the foundation of any nomination. To bypass it entirely is an abuse of power. The Board even extended an olive branch, inviting the Minister to discuss the matter directly, an opportunity that was pointedly ignored. This isn't an intervention; it's a hostile takeover of a process designed to be independent.

The implications of this maneuver are deeply troubling. It injects politics into an institution that must remain above the political fray. The Central Bank's credibility hinges on its independence and adherence to sound governance. When its leadership is hand-picked by a too sound governance, when its leadership is hand-picked by a politician in defiance of statutory procedure, that credibility is shattered. How can the public and international partners have confidence in a Central Bank whose supervisory chair is a political appointee rather than a consensus candidate vetted by the existing experts on the board?

This nomination sets a perilous precedent. It signals that foundational statutes can be brushed aside when they become inconvenient for those in power. It erodes legal certainty and creates an environment where political connections take precedence over expertise and integrity. The attempt to legitimize this by simultaneously calling for the removal of current Sint Maarten board members only adds insult to injury, revealing a clear intent to purge and stack the board with favored individuals.

The health of our economy depends on a stable, independent, and credible Central Bank. The nomination of Jairo Bloem, born from political maneuvering rather than procedural integrity, is a direct threat to that stability. It is a scathing indictment of the current administration's commitment to good governance and a move that should alarm every citizen of Curaçao and Sint Maarten.


SXM Festival announces first round of names for 9th Edition.

Date: March 18 - 22, 2026 Location: Saint Martin, the Caribbean Tickets & travel Information: www.sxmfestival.com

sxmfestival25092025The world’s most idyllic dancefloor calls once again as SXM Festival returns for a five-day music, art, and cultural odyssey in Saint Martin, the Caribbean, from March 18 – 22, 2026. The ninth edition of this globally renowned gathering returns to the breathtaking island for deep immersion on one of the Caribbean’s most naturally stunning islands. With its Phase One lineup now revealed, the countdown begins for a week of unforgettable sunrises, oceanfront dancefloors, secret jungle stages and world-class music. Whether you're drawn to the Sunrise Party, where golden light bathes the beach in rhythm, or the legendary Panorama Party, set atop the island’s highest peak with 360° views of the island, SXM Festival is an unforgettable escape perfectly framed by hot sun, twinkling stars, white sand, lush jungle, and handcrafted design. Over five curated days, SXM offers an experience unlike any other. It is a unique chance to explore a magical world of beach parties where the sand turns to dancefloor, sunrise sessions that start your day with deep, emotional energy, jungle raves hidden among palm trees and lush foliage, exclusive villa parties that redefine private luxury, The Panorama Party - an iconic SXM highlight atop the island’s highest point, plus pop-up food and culture experiences from local legends and visiting chefs and art installations and decor curated to blend beautifully into the island's environment. From bohemian hideaways to architectural marvels, each location is carefully chosen to complement Saint Martin’s raw natural beauty—a core ethos of SXM since its inception in 2016.

SXM Festival’s first wave of talent for 2026 brings a masterful blend of house and techno legends, live innovators and underground risers. Carl Cox, one of the most influential DJs of all time, will make his long-awaited SXM Festival debut after over a decade of performing in the Caribbean. Deep Dish, the Grammy-winning duo, return to the global stage and reunite for a tropical performance. Elderbrook, celebrated for his chart-topping hits and genre-bending live shows, brings a special DJ set to the island. Lee Burridge, pioneer of All Day I Dream, will once again deliver his signature sunrise sounds and claim back his crown at one of the most anticipated events of the week. Germany’s Andhim, known for their playful and melodic approach to house, join the bill, alongside Layton Giordani, one of tech-house’s brightest rising stars. The lineup also features Spencer Brown, beloved for his progressive journeys, Natascha Polké with a full live performance, and Eli Fola, presenting his unique hybrid DJ set of Afro sounds and live saxophone and drums. Fresh talent includes Marten Lou, Maxi Meraki, Nimino, Rafael, Sistek, Yet More, Lumia, and the return of the charismatic &Friends, rounding out a first wave that embodies the festival’s balance of established icons and boundary-pushing new voices. “SXM Festival was born to unite people from all over the world in one of the most beautiful places on Earth. Phase One gives just a glimpse of the journey we’re creating for 2026 - a celebration of music, art, and community alongside the Caribbean’s magical backdrop” said festival founder Julian Prince. SXM Festival is deeply committed to sustainability, local culture and elevated travel. Guests are encouraged to explore the island from culinary adventures and catamaran cruises to guided hikes, and eco-tourism experiences. Throughout the week, the festival works in harmony with the local community, investing in eco-conscious infrastructure, supporting local artists and artisans, and creating economic opportunities for residents.

MP Omar Ottley: Who Will Become SZV’s Next Director Amidst Its Financial Crisis.

omarottley03082025PHILIPSBURG:--- While St. Maarten still grapples with mounting healthcare deficits and warnings from the Committee for Financial Supervision (Cft), United People’s Party leader (UPP) MP Omar E.C. Ottley is raising sharp concerns over the upcoming leadership transition at SZV. With its director Glen Carty’s tenure at the helm of SZV coming to an end, Ottley warns that the appointment of new leadership must be transparent and not become another example of government mismanagement. He notes that recent controversies from the troubled appointment processes at utilities company GEBE to the ongoing debate around the Central Bank of Curaçao and Sint Maarten’s chairmanship have already eroded public confidence in the government’s ability to handle sensitive, high-stakes positions.

“Healthcare financing is already in crisis,” Ottley stressed, referring to Minister of VSA Richinel Brug’s admission that SZV faces annual deficits of XCG. 30–35 million and cumulative shortfalls approaching XCG. 500 million. “If government again botches the appointment process, as it has with other government-owned entities, then we risk destabilizing one of the most critical aspects of our society at precisely the time when healthcare needs are at their highest.”

Ottley emphasized that the next SZV director must be a seasoned professional with the expertise to navigate both financial reform and operational improvement. “This is not the time for political rewards or appointments based on loyalty to a party. The person at the helm of SZV will be managing an institution under severe strain, with the eyes of the Cft, the IMF, and the people of St. Maarten on its performance.” In addition, as a former Minister of VSA, MP Ottley expected that the newly appointed CEO succeeding Mr. Carty would shadow him prior to formally assuming the function. 

Brug, in his recent response to the Cft, pointed to measures such as stricter referral controls, cost containment, and preventative healthcare to address the deficit, alongside the appointment of three new SZV board members. But for Ottley, the credibility of those reforms depends on who is entrusted with leadership at the executive level.

“The public has seen what happens when the government mishandles appointments: delays, instability, and loss of trust,” Ottley said. “We cannot afford the same with SZV. A poorly managed process would confirm what many already fear—that this government is incapable of handling its responsibilities where governance and accountability are most needed.”

Ottley’s call comes at a time when the healthcare system’s very sustainability is under threat, with projections showing SZV’s reserves could be depleted as early as 2029. Against that backdrop, he insists, the leadership choice at SZV is not just another appointment; it is a defining test of the government’s competence and commitment to the people’s well-being.                                                                                                             

Sarkozy sentenced to prison in Libyan campaign finance case.

nicolassarcozy25092025PARIS, FRANCE:--- Former French President Nicolas Sarkozy has been found guilty of criminal conspiracy in a high-profile case involving allegations of illegal campaign financing from the late Libyan dictator Muammar Gaddafi. On Thursday, a Paris court sentenced Sarkozy to five years in prison, marking a significant moment in a legal saga that has spanned over a decade.

The Verdict and Sentences

The court found Sarkozy guilty of criminal conspiracy related to efforts to secure funding for his successful 2007 presidential campaign. The judge ordered that he be taken into custody at a later date, a measure that will remain in force even if he appeals the decision. In addition to the prison term, Sarkozy received a €100,000 fine and has been stripped of his civil and civic rights.

While convicted of conspiracy, Sarkozy was acquitted of several other charges, including corruption. The court's ruling suggested that while it believed Sarkozy's close associates actively sought financial support from Libya, it could not definitively prove that Libyan money was used in the campaign itself. However, under French law, the act of entering into a corrupt agreement can be a crime, regardless of whether funds were ultimately exchanged.

Several of Sarkozy’s close aides were also sentenced:

  • Claude Guéant, his former chief of staff, was found guilty of passive corruption and falsification. He received a six-year prison sentence and a €250,000 fine.
  • Brice Hortefeux, a former minister and close ally, was convicted of criminal conspiracy and sentenced to a two-year suspended prison term and a €50,000 fine.

Sarkozy's Defense and Reaction

Throughout the trial and for years prior, Sarkozy has vehemently denied all allegations. He has consistently maintained his innocence, claiming the accusations are part of a "plot" orchestrated by the Gaddafi clan as revenge for his role in the 2011 NATO-led intervention that led to the dictator's downfall. His defense team argued that the prosecution's case was weak, built on unsubstantiated claims and lacking concrete evidence of financial transactions.

In response to the verdict, Sarkozy denounced the ruling as a "scandal" and an "injustice," immediately vowing to appeal. He stated that if he is incarcerated, he will face it "with my head held high."

A Case with Deep Roots

The allegations first surfaced in 2011, when representatives of the crumbling Gaddafi regime claimed they had secretly funneled millions of euros to Sarkozy's 2007 campaign. The case gained momentum in 2012 when an investigative news outlet published a document allegedly from Libyan intelligence that referenced a €50 million funding agreement.

The investigation that followed uncovered a series of trips to Libya by individuals close to Sarkozy and relied on testimonies from various figures, including French-Lebanese businessman Ziad Takieddine. Takieddine initially claimed to have delivered suitcases of cash but later retracted his statement, a reversal that is now part of a separate witness tampering investigation.

Prosecutors described the arrangement as a "Faustian corruption pact," alleging that Sarkozy’s team sought funds in exchange for political favors, such as helping Libya regain international legitimacy.

Broader Implications and Other Legal Battles

This conviction is another major blow to the political legacy of the man who led France from 2007 to 2012. It is not Sarkozy's first encounter with the justice system. He was previously convicted in two other separate cases: one for corruption and influence peddling (the "Bismuth" case) and another for illegal campaign financing related to his failed 2012 reelection bid.

The latest ruling further complicates Sarkozy's public image and adds to a growing list of legal troubles that have followed him since he left office. As he prepares to launch an appeal, the case continues to raise serious questions about political ethics and the influence of foreign money in democratic elections.

St. Maarten’s Study Financing: A Broken Promise to our Youth?

PHILIPSBURG:--- The question of the return on investment (ROI) for study financing in St. Maarten is not just a matter of numbers—it’s a matter of national integrity. What are we telling our young people when we encourage them to pursue higher education, only to leave them stranded in a job market that seems to favor foreign hires over local talent? This is not just a policy failure; it’s a betrayal of the very people we claim to invest in.

Minister Heyliger-Marten’s recent remarks about the inadequacy of St. Maarten’s budget underscore the systemic issues plaguing the island. With a national budget of 530 million guilders, the government is attempting to run a country on financial fumes. Education, which should be the cornerstone of our future, receives a mere 120 million guilders—hardly enough to address the needs of our schools, let alone provide meaningful opportunities for our graduates. Justice and Public Health are similarly underfunded, with 107 million and 97 million guilders, respectively. Meanwhile, the Ministry of Tourism, Economic Affairs, Transport, and Telecommunication (TEATT)—the backbone of our economy—operates on a paltry 22 million guilders, with only 4 million allocated for marketing the country.

The numbers paint a grim picture, but the real tragedy lies in the human cost. Our young professionals, many of whom have taken on loans to finance their education, return to an island that offers them little more than broken promises. Job fairs are held, but who are we recruiting? Certainly not the local talent that the government has invested in. Instead, high-paying positions are increasingly filled by foreigners, leaving our own people to wonder why they were encouraged to study in the first place.

Minister Heyliger-Marten has called for a significant cash injection—at least 200 to 250 million guilders annually—to address these issues. But even this may not be enough if the underlying priorities remain unchanged. As the Minister herself pointed out, the current budget framework is not aligned with the government’s vision. Without a comprehensive overhaul, we are merely rearranging deck chairs on a sinking ship.

The situation is further exacerbated by a lack of corporate governance. Key positions in government entities are being filled without proper adherence to established protocols, raising questions about transparency and accountability. This is not just a financial issue; it’s a moral one. How can we expect our young people to trust a system that seems to work against them at every turn?

The government’s failure to provide adequate opportunities for its citizens is not just a policy oversight; it’s a crisis of leadership. If we continue to underfund critical sectors and prioritize foreign hires over local talent, we are effectively telling our young people that their education—and their future—does not matter. This is a message that no government should ever send.

It’s time for St. Maarten to take a hard look at its priorities. We cannot continue to ask our young people to invest in their education if we are not willing to invest in them. The ROI on study financing should not be measured in guilders but in the opportunities, we create for our citizens. Until we align our budget with our values, we will remain stuck in a cycle of underperformance and broken promises.

The question remains: What are we telling our young people? The answer, for now, is painfully clear—and it’s not one we should be proud of.


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