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May 14, 2015

P.M. Barrow: No Ultimatum on RCCL/Stake Bank in Sight

Now government has often amended legislation or gone to court to settle disputes. But at this time negotiations remain fluid and, according to the prime minister, government is far from an ultimatum on the passage of new legislation to free itself from any contractual responsibilities to Royal Caribbean.

 

Prime Minister Dean Barrow

“So, we are nowhere near to reaching a point where I would be prepared to say to RCCL, “You know what we are simply going to go to parliament and pass some sort of a law that would free us from what you RCCL sees as our contractual obligations.”  We’re nowhere next to reaching that point, I hope we never get to that point and I will therefore continue to work to bring the two sides together so that there can be some sort of a solution that would involve both of them. I think that, based on what I heard yesterday and based on what I will hear tomorrow, there may be a way forward.  I can’t put it any higher than that but I think, certainly I can say that we’ve not reached a point or anywhere close to point where I have to say to you and to the public, “look, this thing can’t work in terms of peaceful coexistence, government will simply have to cut the guardian knot and decide whom to go with, meaning inevitably if there can’t be an understanding that the other party will be hard done by.”

 

PM Barrow meets on Friday with Feinstein and is optimistic that a mutual agreement can be met on the way forward for Stake Bank.

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