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 Post subject: More money towards Aruba
PostPosted: Fri May 08, 2020 9:57 am 
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The Dutch government announced today that they expect to give financial support to the Dutch Caribbean islands (including Aruba) up to 1 billion euro. Up until now the financial support was 150 million euro. The government said that the island are economically depending on tourism, but it is unclear when that can start again. I guess they also want to minimize the risk that the islands open up too soon for tourism because they just have to in order to survive.


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PostPosted: Fri May 08, 2020 11:50 am 
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What's the breakdown per country.
Who gets what and over how long a time.
What can it be used for.
Who doles out the money, the governments.
Who will over see the doling and accountability
What are the plans for when that money runs out.

Let's take the local Aruba business owners who rent you a beach chair and an umbrella, or rent you a car, run a restaurant. What are they to do to survive. They likely will not.

Scientists? The new old buzz word. "Scientists say......" Well it seems like everything else it depends on the scientist. In the course of the day if you listen to varied news sources you will hear differing answers.

I have a dear college friend who handles bankruptcies (business and personal) and he has stopped taking calls as have all his fellow . He is a real sweet guy and he says in his 40+ years in the business he has never seen and heard people in so much pain. They have lost everything. So you will say, "yes but they are alive". Right. but for how long.

DD better cancel next May. "Scientists say" the cure is 18 months away and how long will it take to vaccinate a few billion people.

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PostPosted: Fri May 08, 2020 12:52 pm 
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Joey, the breakdown will depend on which island needs what. They differ very much in size, from less than 5000 habitants to 150.000.

The islands follow the same routine as the Netherlands: if your business earns 40% less than before corona, and you keep your staff, the governments pays 60 to 80% of the wages and the business owner 20%. If you have a business without staff and you have too little or no income, you get loans or a certain amount of money as a gift to help you through the first 2 months. If that won’t help, there is social security. That is where the money is for.

The islands are closely monitored by the CAFT, a government based financial inspection in which officials from the Netherlands and the islands take part. The Dutch have the majority. They monitor the accountability and are very strict (lots of fights before about not giving relief money to St. Maarten because of corruption and for instance with Aruba about government spending). There are strict rules for the governments of the islands to get this money. Aruba didn’t want to follow them in the beginning, that is why they didn’t get the money until they did.

There will be money as long as there is need. But once again, the Netherlands have strict rules, like Aruba has to downsize government spending, especially the amount of civil servants. And they must make sound plans to diversify the economy.

There will be businesses that go under. But the European system is different from the USA. My only worry is the illegal workers. They will have to depend on charity.

Yes, scientists say. But I trust them more than certain other so called specialists who give very dangerous and stupid advices. I happen to work with the real specialists and I rather believe them.


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PostPosted: Sun May 10, 2020 9:37 am 
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This might be a tad off topic, but...…
I do understand the Netherlands is a wealthy nation, as are most of the countries in Northern Europe. But as members of the EU are they not going to have to come to the aid of the other EU nations that have been devastated by the pandemic? Is their largesse going to cover themselves as well as their fellow EU members? Bailing out some small islands is cheap compared to the cost of bailing out Italy, Spain etc.....


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PostPosted: Sun May 10, 2020 10:41 am 
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happyt1 wrote:
This might be a tad off topic, but...…
I do understand the Netherlands is a wealthy nation, as are most of the countries in Northern Europe. But as members of the EU are they not going to have to come to the aid of the other EU nations that have been devastated by the pandemic? Is their largesse going to cover themselves as well as their fellow EU members? Bailing out some small islands is cheap compared to the cost of bailing out Italy, Spain etc.....


Yes, we are also contributing to a EU fund to help other European countries. But to be honest, that cost us less money because we are with more countries that put money in it and the economies of these European countries you mention is in much better shape than for instance Aruba with its 99% dependency on tourism. What helps greatly is that our rating is so well that we get money for taking out a loan (negative interest).


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PostPosted: Sun May 10, 2020 10:59 am 
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dutchdushi wrote:
My only worry is the illegal workers.


In addition, there are a number of businesses operating "under the table", not reporting their income, or paying the necessary taxes for their workers. My understanding is that it will also be very hard (or impossible) for these businesses (and thus their employees) to now get that kind of payroll support that dutchdushi initially referred to.


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PostPosted: Sun May 10, 2020 3:44 pm 
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dutchdushi wrote:
happyt1 wrote:
This might be a tad off topic, but...…
I do understand the Netherlands is a wealthy nation, as are most of the countries in Northern Europe. But as members of the EU are they not going to have to come to the aid of the other EU nations that have been devastated by the pandemic? Is their largesse going to cover themselves as well as their fellow EU members? Bailing out some small islands is cheap compared to the cost of bailing out Italy, Spain etc.....


Yes, we are also contributing to a EU fund to help other European countries. But to be honest, that cost us less money because we are with more countries that put money in it and the economies of these European countries you mention is in much better shape than for instance Aruba with its 99% dependency on tourism. What helps greatly is that our rating is so well that we get money for taking out a loan (negative interest).


Thanks.


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