PHILIPSBURG:--- At Monday’s Central Committee meeting of Parliament, Minister of Finance Marinka Gumbs delivered a compelling address on St. Maarten's role within the monetary union with Curaçao. Her remarks came amidst growing public discourse and statements from Curaçao’s Acting Minister of Finance, Mr. Cooper, suggesting a potential separation of the two countries within the union.
Minister Gumbs firmly stated, “St. Maarten is not a liability to anyone. We are an autonomous country within the Kingdom and an equal partner in this union.” She emphasized that cooperation between the two nations must be rooted in mutual respect, not dependency or superiority. While acknowledging the historical necessity of the monetary union, she made it clear that St. Maartin’s future course would be determined by legal analysis, economic stability, and the best interests of its people.
The Minister addressed the importance of unity between government and Parliament, particularly in matters of economic and financial stability. “When government and Parliament speak with one voice, we strengthen our negotiating position. When we stand divided, we weaken our leverage,” she said, urging for a cohesive approach to safeguard the country’s financial future.
Minister Gumbs also highlighted the strategic importance of the five harmonized national ordinances on financial supervision currently under discussion in Parliament. These laws, she explained, are not about union politics but about protecting St. Martin’s economic and financial stability. “These laws align our supervisory framework with international standards. They strengthen our compliance architecture, safeguard our banking and financial institutions, and protect St. Martin whether we remain in the union or whether the future structure of the union changes,” she stated.
In response to recent statements from Curaçao’s Acting Minister of Finance, Minister Gumbs clarified that such remarks are for Curaçao’s account and do not dictate St. Maarten’s position. “Stability requires preparation, strategic assessment, and alignment between government and Parliament,” she said, adding that any assessment of the monetary union’s future must be coordinated and rooted in national interest.
Minister Gumbs concluded her address by reiterating the importance of passing the proposed financial supervision laws. “Preparation is not panic. Compliance is not weakness. Institutional strength is not political theater. It is responsible governance,” she declared, underscoring the need for St. Maarten to remain aligned with international standards to protect its economic and financial stability.