Sir Hilary supports Estwick’s vision

Pro-Vice-Chancellor of the University of the West Indies and Cave Hill Campus principal Professor Sir Hilary Beckles is “fully” supporting the economic “vision” of outspoken Minister of Agriculture Dr David Estwick.

Sir Hilary said today that Estwick’s alternative fiscal measure that urges his Government to borrow $5 billion from the United Arab Emirates, is something the late National Hero and Prime Minister Errol Barrow would be proud of.

“Barbados has found itself in great debt because 70 per cent of the Barbados budget goes into education and health just to educate people who were denied education for 300 years; just to educate citizens and take care of their health, the budget bust. We have got in our budget, to clean up this mess, that the British have left behind; they need to cancel all the debts of the Caribbean,” he declared while delivering a lecture at the UWI on reparation from the colonial powers.

“And this is why I am in full support of Minister Estwick, when he said we need a new vision,” added the pro-vice-chancellor. “Minister Estwick is right, he is absolutely correct. We have been locked into a banking system with the Canadian banks who monopolise the Barbadian market, the Canadian banks who control the Caribbean money system, and through their control of the financial system, our government has very little room to manoeuvre…”

“And so, the minister said, ‘Hold on’, let us look beyond these banking systems; how about the Chinese banking system? Do they need a Chinese bank in Barbados? How about the Arab banks? The Arab banks have been propping up Western banks with capital for the last 50 years. Why can’t Barbados engage Chinese banks and Arab banks to restructure our debt?” asked Sir Hilary.

“And what he has done, is to open the conversation to a new development pact, which is consistent with what Errol Barrow has said.

“The time has come to stop loitering on colonial premises. If you are a sovereign nation and you have to participate in an international money market, you should not only be locked into Canadian and British banks. You should be able to expose your natural interests, to Arab banks, to Chinese banks and to do what is in the interest of your country,” declared the university administrator.

He suggested that if the country was consistently locked into a monopolistic banking system, the government would not be serving the island’s best interest.

“Because the developing world has moved into a different banking system, where Chinese capital, Arab capital, is joining with Western capital to produce development strategies for the Caribbean and the wider world,” argued the leading academic.

He said Estwick has opened up a very interesting conversation that is inevitable.

“And if we are to take our sovereignty seriously; what does sovereignty mean? You pursue the world, you look at the world and you do what is best in your national interest. And I think Minister Estwick has brought the moment up to Mr Barrow’s vision or the mirror image,”                        Sir Hilary submitted.


15 Responses to Sir Hilary supports Estwick’s vision

  1. Angel OfThunder
    Angel OfThunder February 21, 2014 at 10:00 pm

    Thanks Professor… .

  2. Angel OfThunder
    Angel OfThunder February 21, 2014 at 10:00 pm

    Great brains think alike…

  3. Angel OfThunder
    Angel OfThunder February 21, 2014 at 10:05 pm

    Don’t ignore the professor….

  4. Angel OfThunder
    Angel OfThunder February 21, 2014 at 10:10 pm

    An remember truth is not popular its allways look down on at first till it doesn’t go away don’t wait to; late time waits on no man take it b4 its to late

  5. Clive Walrond
    Clive Walrond February 22, 2014 at 12:05 am

    He would its all about the money

  6. Tony Webster February 22, 2014 at 5:12 am

    We need to consider, carefully, all options as we not only seek to re-shape both our society, and our economy…but more particularly, to create a viable, sustainable and worthwhile future for the coming generations. HOWEVER, may I again say, proceed with caution: this country has for the last 375 years or so, been resting on Christian principles. Be careful; BE VERY CAREFUL, of getting into the pockets of folks who know not anything of Jesus Christ; be equally careful, of those who know not, little or nothing of democracy. We also have peacufully co-existed with faiths of all creeds and colours…muslim; Hindu; B’hai, etc etc. No problem.
    Who might care to provide an answer to my one particular concern: regarding any humungous Arab loan: is this Shia cash, or Sunni money????? And what do they want in return? Nothing?

  7. Prince Nick
    Prince Nick February 22, 2014 at 11:20 am

    he gotta to be drunk

  8. Veroniva Boyce
    Veroniva Boyce February 22, 2014 at 1:19 pm

    Blinders and Blinkers. TweedleDee and TweedleDum. “If it was so, it might be; and if it were so, it would be; but as it isn’t, it ain’t. That’s logic.”

  9. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:08 am

    Common sense people don’t have OK look nut shell people here in Barbados bajans take out bank loans right,but ur just one person if the government takes a loan then its goin to be a lot more $$$$$$ because they doin it for the hold country its the same thing a loan is a loan that’s all it can only be,but because truth isnt popular an because of the underdog man that much people don’t like it will sound funny to people b4 they try to understand the solution it might be for the country to get back on its feet b4 its to late,remember time waits on no man……

  10. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:23 am

    Shelly Lewis bajans need job work let them get pay for how much work thy do,the government can’t see the lazy government workers who makes bad for the rest who enjoy thy job,I would love the government to give me one job an a crew of my own an the right tools I’ll make my country proud true story…..

  11. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:24 am

    I see what most people can’t see even if they were standing in front me……

  12. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:29 am

    Government took loans b4 so what’s different now because its Dr.Estwick Idea???he probably had the idea along time ago an didn’t say anything till now Y because people don’t like bein taken for granted….

  13. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:32 am

    Oo its like dis people look at u an say u can’t be. a doctor y???because they don’t see them self becoming one so they thinking for they own self not u,so when some one say u can’t its because they never try or see they self becoming one

  14. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:37 am

    Ooo OK people didn’t like christ but who was christ the saver of humanity right what the people did kill they only hope

  15. Angel OfThunder
    Angel OfThunder February 23, 2014 at 4:46 am

    They kill the one thing they needed the most the Christ,see christ didn’t have to die on the cross but the people kill him on the cross for doin good,the people pick barabbas over The Christ an there is nuffin new under the sun…


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