~ St. Maarten will only be responsible for 10% of the 600M Dutch Loan.~
PHILIPSBURG:--- Minister of Finance Ardwell Irion said in response to questions posed by members of the media regarding the Ennia bailout that all suggestions made by members of parliament last week were all brought up and suggested by him as the St. Maarten representative and they were all rejected by the Dutch Government.
Irion said that during the negotiations he was looking for the best possible deal that would protect the 10 percent policyholders on St. Maarten as well as finding the best possible deal for the refinancing.
He said that parliament also indicated to him that he should do what is necessary as a representative of the government and when the 2024 budget reaches parliament they will do what has to be done as the representatives of the people.
Parliament suggested that the government of St. Maarten should not accept the loan but instead grant the loan to Ennia through the Central Bank of Curacao and St. Maarten. Irion said that the proposal was made but the Dutch government made it clear that they do not give loans to foreign companies.
It should be noted that the majority of the members of parliament objected to a decision made by the council of ministers to accept the loan from the Dutch government to bail out Ennia.
The St. Maarten Minister of Finance said during the negotiations the situation surrounding Mullet Bay and he pointed out that the government of St. Maarten wants to see Mullet Bay developed. He remarked that he too wants to see the Mullet Bay property fully developed and return to its glory days even though he did not experience those glory days.
Irion said that the Council of Ministers will be debating the Headline Agreement made out by the Dutch Government. He said was to take place on Tuesday, but it had to move to Thursday due to the passing of Tropical Storm Phillipe.
Central Bank failures are also discussed.
Asked what measures or repercussions would be taken against the Central Bank to properly supervise Ennia the Hiro Bank and the Christian Kingdom Credit Union. Irion said that even though the Ennia saga did not take place since he was in office, the decision was taken to remove the board of the central bank and its director. He stressed that since the revelation of the Ennia issues, tighter supervision has been taking place.
