National

“EU Blacklisting Part of an “Unfair” Cycle”

NASSAU, BAHAMAS – Country pushes for removal from the European Union’s blacklist. Two bills debated said to enhance the country’s financial services industry.

Published

1 year ago

July 20, 2023

Megan Shepherd

NASSAU, BAHAMAS – The country’s push to be removed from the European Union’s blacklist continues in the senate today as two bills debated expected to strengthen the country’s financial services industry.

Attorney General Senator Ryan Pinder says when it comes to the European Union’s financial blacksting protocol. The goal post is constantly changing, noting the financial services industry is highly competitive, one in which he says our competitors are always looking for an advantage.

As small island nations like ours continue to face the detrimental effects of climate change. Pinder adds these larger countries are the source of increasing natural disasters. Yet, they are also the ones that move to blacklist our country, impacting our ability to recover.

Pinder says the time for change is now, calling this cycle unfair, and says government will solicit the support of regional and global partners.

As for getting the country removed from the EU’s blacklist. He says changes are expected to come on stream before the EU’s re-rating in November.