Euro-buck or greenback?
This still is the six-million dollar question. Or 6 million Euro’s? No decision has yet been reached. The majority of financial experts have recommended we choose the US$. As we understand it, you don’t have to ask permission for that. The US is delighted if we go for their greenback.
However, not only financial considerations are involved here. There are also legal and political considerations, as well as financial considerations that will follow the legal and political choices.
Let’s be clearer. If the BES-islands will be covered by the European internal market policies, no import-duties will be levied on European goods. So, they’ll become substantially cheaper. Integration into Holland is likely to increase trade with the
EU in other ways also. In fact BES are ban-king on that and this has already begun.
The ratio between the cash-value of trade with the US as compared to Europe is now roughly 70% (US) vs. 30% (EU). It may not take long, however, for this to become 40% (US) vs. 60% (EU). If that’s the case, there is no sound reason anymore to choose the US-dollar.
These are some of the reasons why there is still indecision on this point. A well-informed choice cannot yet be made. We apologize for not being able to provide more info, other than that - so far - the majoity of pundits say: ‘Choose the greenback!’. One advantage of that choice is that we can always change to the Euro-buck, if that should prove beneficial later.