No Haircut for Old People Says PM Mottley
The news that the government has taken the decision to rollback on a decision to implement a debt restructure program intended to be broad brush is good news. To have inflected the level of emotional stress on senior citizens whose focus should be enjoying the fruits of their labour in the golden years can only be described as unconscionable.
There is also a conversation in the country that is getting louder about the possibility of citizens bringing a legal motion against government on the basis breach of contract. Such an action is unlikely given the passive deposition of the Bajan and the unwillingness of lawyers in Barbados to take on government with high profile action.
The blogmaster can paint other scenarios where Barbadians were duped to invest in government paper for love of country. There is a large cadre of middleclass that invested in government paper because the law forces the retiree (beneficiary of severance) to favourably consider this option to avoid a cash penalty.
How do citizens whose lives have been significantly altered reconcile the feeling of hopelessness with the fact the country is broke?