In is no secret that the world is facing an economic and financial crisis of an unprecedented nature. It is now well documented that the crisis was precipitated by the indiscipline fueled by greed practiced by the suits on Wall Street. Most economies of the world are now intertwined based on the free trade concept which underpins globalization. The inherent flaw in the concept of globalization is if the developed world stutter the developing world immediately contracts the fits.
Barbados economic stewardship to date is one which is envied by many. The benefit is seen in a per capita income which belies our size and resources. At this juncture of an unprecedented global economic crisis we have a new government which has to manage a complicated set of circumstances.
It is not our intention to pontificate on matters of economics and finance which are somewhat above our pay grade. We will leave that to Mr. Jones over at Living In Barbados blog and Hartley Henry. What we know is the challenges that lie ahead demands that we depart from the usual protagonist roles which Westminster politics breeds, and reach across the political aisle to lead our beloved country through this perfect economic storm.
In our blog posted recently titled High Expectations For 2009 Budget Speech, the BU household was unanimous in our expectation that the Budget and Financial Statement 2009 and the ensuing debate would have to satisfy unprecedented expectations given the perilous times. We are sure that time will reveal whether the measures announced by Prime Minister David Thompson will stabilize the economy until such time there is an upturn in the global market. The political diehards maybe able to speak with certainty about the economic prescription required, commonsense however supports the point that there is huge uncertainty about what is required.
Against the above and again commonsense requires that our law makers who sit in the highest office of the land should close ranks given the gravity of the current economic climate. The next year or two requires that there should be one goal, to steer Barbados through this rough period. We have listened to the pedantic argument by some commentators that the Opposition’s role is to oppose. Sometimes we wonder about how some people who should be our leaders would so easily resort to cliché positions.
Barbadians who listened to the debate tonight witnessed a level of behaviour which would not have inspired confidence. After former Prime Minister Owen Arthur delivered his presentation which was preceded by a few terse exchanges between himself and members from HIS side. Our disappointment was when the Opposition led by Mia Mottley walked out of parliament at a juncture in our history when the country is facing the worst economic challenge for almost 100 years. Time will tell if the Barbados Labour Party will win any political points for her action. No doubt the local press will feast on this story tomorrow with the thought of increase sales and listenership. BU however is concerned that at a time when our Members of Parliament are paid to do the PEOPLE’s business we should witness a fissure in our governance structure. We remain hopeful that the maturity of the actors involved will recognized that we are sailing on turbulent waters buffeted by a perfect economic storm.
To our members of parliament we say that this is a time to remain focussed like you have never been focussed before!
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