It is our position that the blacklisting of The Bahamas by the European Union (EU) amounts more to a bullying tactic. It’s a great world conglomerate of nations going after a small country.
There is nothing outlandish about our tax system, nor our banking procedures. We operate at the apex of democracy and freedom of business relationships once the laws of the land are adhered to. We are no more a tax haven for the mega rich around the world, than many much larger countries, some indeed, in Europe, that have not been blacklisted.
However, we have to be careful, because of our dependency on tourist dollars and many other imports that enable us to exist in The Bahamas, in accordance with what we have become accustomed to.
We believe Deputy Prime Minister K. Peter Turnquest. We hold the view that he and his colleagues did all within their power to comply with the wishes/directives of the EU.
We, in this nation, constantly court investors. There are those investors with a whole lot of funds that need to be facilitated. Often, The Bahamas’ banking avenues provide the best options.
What are our political leaders to do?
Should the banks discriminate?
We live between a rock and hard place, being observed constantly with skepticism by the EU and other such world organizations.
Now, Turnquest has to make overtures to seek to get The Bahamas de-listed. According to reports, he intends to do all that it takes to get us off the EU blacklist.
What will it actually take for a reversal by the EU?
Will anything The Bahamas does, be enough?
This is one of those national issues for which Bahamians ought to hold hands and address as one. It is refreshing that from the Official Opposition Progressive Liberal Party, the impression has been given, that the government has its full support in this instance.
Prime Minister Dr. Hubert Minnis should get all of the prime political players and business leaders in the land together to seek to get a grip on this situation. We urge him to adopt the “strength in numbers” perspective.
Get advice from PLP Leader Philip Davis, a noted lawyer and Chester Cooper, a reputed financial mind. Afford them the opportunity to lend ideas to the government.
The EU blacklisting puts us in a very uncomfortable place. We ought to join forces in the face of the big bad European Union.