CRISIS IN EUROPE


A severe financial crisis is threatening Europe. It gets worse by the day. As an indication of how deep the crisis has become, Moody’s Corporation, a world recognized credit rating company, downgraded five German banks on June 6, hitherto regarded as having triple A rating. It has been predicted by financial experts that unless the crisis is resolved in a few weeks the Euro will unravel, financial chaos will ensue and the recession affecting only some countries will spread over Europe and further afield.

There has been little or no discussion in our media or that of the Caribbean on the crisis or its potential impact on our economies. Not only do we have trading relationships with Europe on which many industries rely, but we receive significant inflows in aid and grants from the European Union which can be adversely affected by an escalation of the crisis.

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CREATE A NEW VISION FOR GUYANA – WE HAVE NOTHING TO LOSE BUT OUR CHAINS


The rejection by the National Assembly of the re-tabled Supplementary Estimates, rejected previously, elicited headlines, accusations and counter accusations recently. According to statements in the press the Government re-tabled the Estimates because the Opposition had indicated that it was prepared to reconsider them. To its surprise the opposition voted against the Estimates without asking a single question. After the Sitting the Opposition explained that its complaint against the Estimates had been inadequate explanations and that the Estimates were resubmitted with the identical, inadequate, explanations.

The denial of funds to the Office of the President is particularly painful. On one item only, Presidential Advisory (Cabinet and Other Services) of a total of $401,000,000.00 was reduced by $230,000,000.00 to $171,000,000.00. This head includes the staff of the Parliament office who number over one hundred and is not confined to the few advisers who are employed there. Many of them will lose their jobs and the business of the Office of the President will be grievously hampered.

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MARX, CAPITALISM AND THE RECESSION


Many thanks for your response to the articles I sent. I did not intend or expect a response, especially one so extensive.  I expected more to irritate you than anything else. I notice that I succeeded.

I know very well your views on these matters, having had many discussions with you over many years. But I think your effort deserves serious consideration and a thoughtful response.

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AN URGENT RETURN TO THE NEGOTIATING TABLE IS NECESSARY


The Opposition Leader, Mr. David Granger, has said that the Opposition is interested in leverage. He also said that the cuts can be restored if the necessary reforms are undertaken. For his part President Ramotar has pledged his continuing commitment to dialogue even in the midst of denouncing the savage cuts to the Budget by the Opposition. It seems reasonable to conclude that an urgent return to the negotiating table is necessary to mend fences, reduce tension and proceed with the nation’s business.

The passage of the Budget does not resolve the political stand-off which has been brought about by the election results. It merely gives a temporary respite. However, all parties are looking to elections at some time down the road when they hope to increase their parliamentary strength. The PPP has the recovery of the PNC in 2012 to contemplate. In 2012 it recovered the six seats and seven percent of the votes it lost to the AFC in 2006. The PPP/C will be hoping to copy that experience and recover the seven percent of the votes and five seats  it lost to the AFC in these elections.

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CORRUPTION – THE TIME HAS COME TO TAKE ACTION


I wrote and spoke about the issue of corruption in Guyana last year. This issue can no longer be ignored by the Government. Last Sunday’s newspapers carried almost a dozen stories in which allegations of corruption featured. Many of them were exaggerated, frivolous or speculative. But several of them are serious enough to compel the Government to take note. Corruption and allegations of corruption are not going to disappear if we do nothing else other than call for proof, claim that we now have regular reports from the Auditor General, or that we declare our assets to the Integrity Commission while the Opposition members do not. The time has come to take action.

Like many developing countries Guyana has not been able to contain corruption. Since 1992, spending, especially on infrastructure and procurement, has multiplied to levels that we could not have imagined. In any country, much less one with historically weak systems like Guyana, and a sharply divided and adversarial political system, it is not surprising that actual corruption and allegations of corruption are so rife. Admitting that corruption exists ought not an to be issue. It does exist and that cannot be denied. The challenge for the Government is to understand that the opposition is going to make the most politically of corruption and allegations of corruption and to recognize that the answer is to do something about it, not beat its breast about what it has done, which only exposes the inadequacy of its efforts.

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