St. Maarten Private Eye

Closing statement of the administrative discussions as regards the future political status of Curacao and Sint Maarten.

The delegations of:
- the Netherlands;
- the Country the Netherlands Antilles
- the Island Territory Curacao;
- the Island Territory Sint Maarten;

considering:

1. that on October 22nd 2005, an Outline Accord was agreed upon between the Netherlands, the Netherlands Antilles and the Island Territories;

2. that it was agreed upon in the Outline Accord that the Country the Netherlands Antilles shall cease to exist;

3. that during the starting-Round Table Conference of November 26th 2005, agreements were made with regard to the intended final perspective and the target date for the new political structure;

4. that during the starting-Round Table Conference, it was agreed upon that criteria and standards shall be established with which the constitutions, legislation and the government apparatus of the entities within the Kingdom must comply, taking into consideration the provisions of the Charter;

5. that the Netherlands, the Netherlands Antilles, Curacao and Sint Maarten want to make agreements as regards the specification of the intended final perspective;

6. that the agreements which the Netherlands and the island territories of Bonaire, Saba and Sint Eustatius made during a mini conference on October 10th and 11th 2006, as regards the constitutional status of the island territories Bonaire, Saba and Sint Eustatius are acknowledged within the Dutch polity;

7. that the Netherlands, Curacao and Sint Maarten, endorse the criteria with which the constitutions, legislation and the government apparatus of the new entities within the Kingdom must comply, on which the preparatory committee Round Table Conference has reached agreement, as laid down in the letter of March 7th 2006 from the General Secretary of the Round Table Conferences to the Chairman of the Round Table Conferences.

Have agreed as follows:

I. JUDICIAL PROCEDURE AND MAINTENANCE OF LAW AND ORDER

A. Joint Court

1. There shall be one judicial organization for the new entities of the Kingdom, with – preceding annulment at the Supreme Court of the Netherlands- one Supreme Judge, to wit the Joint Court of Justice. The Court can hold sessions in all the new entities of the Kingdom and Aruba. The personal union between the Joint Court and the Courts in First Instance shall continue to exist.
2. The new entities are, the Country Curacao, the Country Sint Maarten and the three islands with a direct new tie to the Netherlands.
3. Regulation of the judicial organization in the Caribbean part of the Kingdom shall take place, as regulation between the countries, by consensus statute law on the basis of article 38, paragraph 2 of the Charter.
4. There shall be a Court in First Instance in each country.
5. There is a personal union between the Court and the Courts in First Instance, in the sense that the members of the Court are also members of the Courts in First Instance.
6. The responsibility for the supervision of the judicial organization is placed with a joint organ ( hereafter to be called “ the Supervisory Council”) which is comprised of persons, to be appointed by Royal Decree upon the recommendation of Curacao, Sint Maarten and the Netherlands as representative of Bonaire, Sint Eustatius and Saba. The Chairperson is nominated by the members of the Supervisory Council, to the Kingdom Council of Ministers, unanimously. Requirements of expertise, reliability and independence must be set, for membership in the Supervisory Council.
7. The Supervisory Council gives account during the consultations of the Ministers of Justice of the countries, who shall inform the Kingdom Council of Ministers.
8. For the financing of the judicial organization, a distribution code is used, which may be reviewed periodically and in which we work with service level agreements per country.
9. Regulation of the supervision and the financing of the judicial organization take place by consensus statute law.
10. Regulation of the uniform legal status takes place by or by virtue of consensus statute law.
11. Appointment and regulation of the legal position of non –judicial personnel is done by the Supervisory Council.
12. For the benefit of the judicial task of the Joint Court and the Supreme Court, uniformity must exist in the procedural law of the countries Curacao and Sint Maarten, as well as to the extent it concerns criminal law and civil law including bankruptcy law.
13. With regard to the other parts of substantive law, concordance shall be pursued.

B. Tracking and prosecution of criminal offences

1. The tracking and prosecution of criminal offences, as a rule must be rooted in the local society
2. The judicial tasks, including the prosecution policy of each individual country fall under the ministerial responsibility of one’s own country minister in question.
3. In order to be able to give account to one’s own Council, the responsible minister shall be able to guide the Public Prosecutor’s office in accordance with policy.
4. The institution, the organization and the supervision of the Public Prosecutor’s office and the cooperation ( in the various areas) are regulated by or by virtue of a consensus statute law.

By or by virtue of the consensus statute law, in any event, the following points 5 through 26, shall be included.

5. In each of the countries, there is a Public Prosecutor with at the head one joint Attorney General for Curacao, Sint Maarten and Bonaire, Sint Eustatius and Saba, collectively.
6. The Attorney General is appointed, suspended and dismissed by Royal Decree, the recommendation is made on the proposal of the Ministers of Justice of the Netherlands, Curacao and Sint Maarten jointly.
7. The Attorney General is responsible for the supervision of the Public Prosecutor.
8. The Attorney General has an office on Curacao as well as on Sint Maarten in order to make his presence felt.
9. The minister of Justice of each of the countries is authorized to give instructions to the Attorney General.
10. a. The Minister of Justice, in his capacity of member of the Kingdom Council of Ministers, is authorized, on behalf of the Kingdom Council of Ministers, to give instructions to the Attorney General with a view to the tracking and prosecution of criminal offences. Preceding this, consultations are held with the government of the country in question. If this is not possible, the government involved shall be informed as soon as possible.
b. The authority meant above can only be enforced in the framework of the guarantee function as meant in art.43, 2nd paragraph of the Charter.
c. The Kingdom Council of Ministers deliberates and decides within sixty days whether the instruction should expire after this term.
d. In the event there is a matter of upholding a general instruction, this is subsequently converted to an implementing kingdom ordinance.
e. the abovementioned is anchored in a consensus statute law.
11. On the basis of a consensus-statute law, the Attorney-General has sufficient authority and resources to deal with cross-border criminality, integrity violations and corruption adequately.
12. The Attorney General can demand compulsory cooperation from a police force, in the area of tracking criminal offences, on the basis of a consensus-statute law, during the fulfilment of his responsibilities.
13. There is a Solicitor General at the Joint Court, the latter is appointed by Royal Decree in accordance with the same procedure as the appointment of the Attorney General. The countries shall make further agreements as regards the support of the Attorney General. The Attorney General shall be asked to make a proposal for this.
14. Curacao and Sint Maarten each and Bonaire, Sint Eustatius and Saba jointly have a Public Prosecutor in First Instance.
15. At the head of a Public Prosecutor in First Instance, there is a Chief Public Prosecutor who is appointed, suspended and dismissed by Royal Decree, the recommendation is made on the proposal of the Minister of Justice of the country in question, upon the recommendation of the Attorney General and having heard the Joint Court of Justice.
16. The Chief Public Prosecutors are subordinate to the Attorney General.
17. Public Prosecutors are authorized and employable on Curacao, Sint Maarten, Bonaire, Sint Eustatius and Saba.
18. When the Court of Justice is of the opinion that the prosecution of criminal offences in a country should be instituted or should be continued, the Attorney General is obliged to make available to the Court the documentation related to the case.
19. The Attorney General, taking into consideration the provisions of the Code of Criminal Procedure, is obliged to prosecute or to have someone prosecuted, upon the order of the Court.
20. Officers of the Public Prosecutor’s office of a country are obliged to observe the orders which are given them by or on behalf of the Governor of that country. The ministerial instruction shall each time be made to the Attorney General, who has the authority to present the order to the Court for the review of law or right. To the extent it concerns instructions on joint policy of the countries of the Kingdom, the order can be presented for review to the consultation of the Ministers of Justice of the countries of the Kingdom.
21. The legal position of the members of the Public Prosecutor’s Office.
22. The incompatibility of functions.
23. The joint training- and quality requirements.
24. The costs of the Attorney General and his cabinet ( staff) are assigned to the countries by means of a distribution code.
25. Binding agreements are also made as regards the personal and material input for this policy in the Kingdom Council of Ministers at the establishment of the policy regarding cross-border criminality( see section G; agreement has already been reached on the setting of the appointments between the countries in the area of cross-border criminality by the Kingdom Council of Ministers).
26. The Chief of the Public Prosecutor’s office is authorized to make use of the national department of criminal investigation at the tracking of official offences, in any event, in accordance with further to be established rules.

C. Police

1. The institution, the organization, the authority over and the supervision of the police and the cooperation ( in the various areas) are regulated by consensus statute law.
By or by virtue of consensus statute law, in any event the following points 2 through 19 shall be included.

2. Each of the countries has a police force which, to the extent it concerns the tracking of criminal offences, falls under the authority of the Attorney General and with regard to the maintaining of the public order, falls under the authority of the locally responsible administrator, for Curacao and Sint Maarten, this is the Minister of Justice.
3. The Minister of Justice of a country is politically responsible for the police and gives account of this before the Parliament of the country in question.
4. The general supervision of the Attorney General, as it has now been included in the constitution and the cooperation regulation. The Attorney General monitors the proper performance of the task of the police. He is authorized in this regard to make proposals which appear to him to be useful, to the Governor of the country to which he is appointed.
5. The designation of the Attorney General as the competent authority for the criminal maintenance of law and order. He is authorized to give such instructions to the officers who are in charge of the police, for the prevention, tracking and investigation of criminal offences or violations as he considers in the interest of good justice.
6. The Attorney General shall be able to demand compulsory cooperation from a police force, the cooperative investigative team and the national department of criminal investigation, for the tracking of criminal offences, in accordance with rules to be set.
7. Police officers are authorized and employable on Curacao, Sint Maarten, Bonaire, Sint Eustatius and Saba.
8. The agreements in connection with costs resulting from the employment of officers of the police in another country.
9. The position and organization of the joint services of the police are regulated by consensus-statute law, univocally guided and have a budget established by the Kingdom Council of Ministers.
10. Agreements have been made in the consensus-statute law to the effect that a minimum strength per force is established. Pursuant to statute law ( consensus-implementing kingdom ordinance) the method shall be established in accordance with which that strength shall be determined. The actual arrangement shall be established on account of the link-up with the budget, by the responsible Minister of the country in question, taking into account the agreements which the countries have made jointly as regards the approach to cross-border criminality.
11. In the event the cooperation, established by or by virtue of consensus-statute law, is not realized or not realized sufficiently, on account of the Kingdom, having heard the countries involved, provisions may be made by implementing kingdom ordinance in accordance with article 51 of the Charter.
12. The cooperative investigative team is regulated by consensus-statute law. Upon the realization of the statute-law, the results of the evaluation of the cooperative investigative team shall be included.
13. The consultation of the Superintendents on an official level shall be institutionalised on the basis of article 37 of the Charter
14. The consultation of the Ministers of Justice shall be institutionalised on the basis of article 37 of the Charter.
15. Promotion of integrity forms part of the cooperation.
16. The quality criteria, educational- and training requirements with which the police must comply.
17. The ranking system.
18. The regulation for handling arms and violence.
19. The exchange of information.

20. Before the new structure is implemented the police organization shall have to be improved greatly. Together, the Netherlands, the country the Netherlands Antilles, Curacao and Sint Maarten, prior to February 1st 2007, shall establish the criteria with which the police forces must comply, minimally, in that framework. The activities of the Security Plan Netherlands Antilles shall be evaluated in that light and if necessary adapted. The Netherlands shall, in any event have to be involved in a more intense manner with the required improvements.

D. Prison system

Curacao, Sint Maarten and the Netherlands agree that the new countries must each individually ensure that there is sufficient detention capacity. The countries shall make an arrangement among themselves, in which the detention capacity is made available for Bonaire, Sint Eustatius and Saba and for each other.

E. Immigration chain

Curacao, Sint Maarten and the Netherlands shall make an arrangement among themselves, in which the partners make agreements as regards the immigration chain, such as a joint system, guarantees of professionalism, quality and integrity, unambiguous procedures and registration systems.

F. Council for the maintenance of law and order

1. By or by virtue of the consensus-statute law, a Council for the maintenance of law and order shall be installed.
2. The Council is independent.
3. The Council monitors the quality of all sections of the Judicial chain ( with the exception of the Court), the cooperation between the countries Curacao, Sint Maarten and the Netherlands in the area of Justice and takes care of the handling of complaints.
4. The Council shall inform the responsible Minister(s) as regards its findings and shall provide advice in that area. In the event of persistently being in default as regards actions undertaken, as a result of the findings and recommendations, the Council can make a report to the respective Councils and to the Kingdom Council of Ministers.
5. The members are appointed by Royal Decree upon the recommendation of Curacao, Sint Maarten and the Netherlands, on behalf of Bonaire, Sint Eustatius and Saba, The Chair(wo)manship shall rotate between the countries. Requirements of expertise, reliability and independence are expected for membership.
6. Regulation of the financing of the Council takes place in the consensus Statute law.

G. Cross-border criminality

1. The Ministers of Justice of the Netherlands, Curacao and Sint Maarten are politically responsible for the policy with regard to cross-border criminality and give account before the Parliament of respectively the Netherlands, Curacao and Sint Maarten.
2. To promote the effectiveness of tracking and prosecution, specific agreements between the countries of the Kingdom must be made with regard to certain criminal matters, of an international or an inter-regional nature.
3. By mentioned criminal matters is understood in any case: terrorism, international drug trade, computer criminality, international laundering of money, international arms- and human trafficking and international corruption.
4. The agreements in this regard shall be established after agreement between the Ministers of Justice of the countries of the Kingdom, by the Kingdom Council of Ministers.
5. The thus established agreements are executed under the administrative( political) responsibility of the Minister of Justice of each of the countries under the guidance of the Attorney General in the countries.
6. As regards the concrete execution of his task in this area in one of the countries, the Attorney General is primarily accountable to the Minister of Justice of the country in question, who in turn may be called to account by the Councils, respectively the Parliament of the Netherlands.
7. In view of the many ties between the countries in the area of passenger- and goods traffic, agreements are made that the Attorneys General in the Kingdom, consult with each other on a regular basis, exchange information, attune their activities to each other and provide the Ministers of Justice of the countries of the Kingdom with advice.

H. Observing international obligations and supporting the legislative process

1. The new entities must also observe the international obligations which were entered into by the Kingdom and for which the Netherlands Antilles have requested joint responsibility. The treaties which have already been implemented by the Netherlands Antilles shall be fully applicable in Curacao and Sint Maarten. Prior to January 1st 2007, an inventory shall be made of the treaties for which the Netherlands Antilles have requested joint responsibility, which are yet to be implemented. On the basis of the inventory, a plan of action shall be made up for implementation.
2. Curacao, Sint Maarten and the Netherlands, shall, in mutual consultation, ask an expert of a group of experts to investigate whether the Charter offers sufficient instruments to enforce (timely) implementation by the countries, of treaties concluded by the Kingdom which shall be in force for the countries. It concerns mainly (a) the situation in which the implementation regulation is necessary for implementation of the treaty and (b) the country is remiss in establishing the regulation on a timely basis and (c) the treaty can only be ratified if the regulation is ready. All this in view of the international position of the Kingdom.
3. The new entities Curacao and Sint Maarten, partly in view of article 27 of the Charter, shall be involved at as early a stage as possible, in the realization of treaties which could affect these countries and in the procedure to be followed in this regard.
4. Twice a year there shall be legislative consultations between the countries of the Kingdom. The objective of these consultations is to promote the concordance between the countries, to facilitate the implementation of treaties and to make agreements about the exchange of expertise and personnel. The timely establishment of an implementation plan for treaties can speed up the implementation of treaties. If possible decision making as regards assistance from the Netherlands can be included in the decision making in the Kingdom Council of Ministers as regards the joint responsibility of treaties. Further, during the consultations, agreements can be made as regards the realization of model legislation.

II FINANCE

I Debt restructuring

1. Curacao, Sint Maarten and the Netherlands reconfirm what was established during the Starting-Round Table Conference, to wit: “ In order to realize the sound starting position, attention shall be given to the debt restructuring. In that framework, the Netherlands shall present a solution for the debt problem”.
2. The Netherlands is prepared to repay the consolidated debt of the new entities Curacao and Sint Maarten up to the level of the interest burden rate.
3. During the transition period the interest burden on the debt to be repaid, shall be included in parentheses in the budget for the realization of a fictitiously balanced budget and balanced multi-annual perspective for the Country and the island territories and (in a technical sense) for the new countries Curacao and Sint Maarten.
4. The adjusted date for the debt restructuring is December 31st 2005. The following loans shall be included in the calculation of the debt restructuring:
a. Loans for the refinancing of the debt position per December 31st 2005.
b. Loans for the refinancing of the interest burdens of the debt positions per December 31st 2005.
5. The Netherlands is prepared, under conditions, to a phased assumption of the consolidated debt of the Country ( which shall be completely attributed to the island territories of the Netherlands Antilles), Curacao and Sint Maarten. The phased assumption is done through the assumption of the debt services ( interest- and repayment obligations) of the debt per December 31st 2005, which the Netherlands is prepared to assume on the basis of the agreed upon interest burden rate. The phased debt assumption shall be done in the manners described below:
a. The assumption of the debt services shall commence at the moment that the implementing kingdom ordinance for the institution of financial supervision during the transition period is established by the Kingdom Council of Ministers, if possible prior to March 1st 2007, and has been implemented and the supervisor has started his work. In this implementing kingdom ordinance, it shall be determined that this shall expire from the moment of implementation of the consensus-statute law.
b. Throughout the transition period to the new political structure the actual assumption of the debt services by the Netherlands shall remain dependent on the timely and complete execution of the agreements in this accord between the Netherlands, the Netherlands Antilles and the Executive Councils of Curacao and Sint Maarten. To this end, the Netherlands, in consultation with the Government of the Netherlands Antilles and the Executive Councils of Curacao and Sint Maarten, a timetable shall be established. To the extent it concerns the finances, this concerns 1) the realization of a consensus-statute law for the guarantee and supervision of the financial standards in the new political structure, 2) the actual realization of a structurally balanced budget and a multi annual framework 3) an energetic execution of the implementation plans financial management and 4) realization and execution of the SEIs. In the event the execution does not take place in accordance with the above mentioned timetable, the Netherlands shall discontinue the phased assumption and this shall be resumed at the moment that the supervisor is of the opinion that the conditions are being met again. The Netherlands shall not discontinue the phased assumption in the event the supervisor is of the opinion that there are special circumstances involved.
c. Assumption by the Netherlands of the remaining principal of the consolidated debt of the Country, Curacao and the federal debt attributed to Sint Maarten, as well as the payment arrears of Sint Maarten, Curacao and the Country Netherlands Antilles, shall take place at the moment that the new political structure goes into effect. Restructuring of the payment arrears shall take place up to an amount of a maximum of ANG 483.5 million (position on December 31st 2005).
d. Establishing the consolidated debt and the distribution of the debt of the Country to the entities (debt matrix) shall take place in agreement with the Netherlands. The Netherlands shall pay assumed debt services in Euro or US$.
This solution means that the Country Netherlands Antilles, Curacao and Sint Maarten, after the conclusion and complete execution of the political accord, in fact obtain a debt relief up to the level of the interest burden rate on the condition of a continuously proper execution of this accord.

J Financial management J.

1. The recommendations of the work group General Financial Position for the improvement of the financial management shall be implemented within the shortest possible time.
2. The Netherlands shall offer (technical) support for the execution of these plans. The Netherlands, Curacao and Sint Maarten shall make further agreements in this regard, at which time special attention shall be given to making up the arrears in the levying and collection of taxes and to the interpretation and strengthening of the cooperation between the Audit Offices of the (future) countries of the Kingdom.
3. The improvement of the financial management shall be implemented in accordance with the implementation plans. A reliable balanced budget and balanced multi annual perspective must be established, by the entities, which is based on 5% interest burden rate, as indicated above under “ debt restructuring”, for the current and the new situation after the dismantling of the Country Netherlands Antilles. In particular, for the preparation of the debt restructuring, preference shall be given to:
a. the establishing of a feasible format for reports to the supervisor;
b. the establishing of the debts and in this respect the determination of the joint sector of the countries based on the SNA;
c. the rounding off of annual accounts 2004 and 2005 and the revenue estimate 2006 in order to establish the basis for the revenues of the future countries Curacao and Sint Maarten.

K. Standards

The countries Curacao and Sint Maarten shall meet the following financial standards.
1. Balanced budget and balanced multi-annual perspective ( revenue account including interest and depreciations)using internationally accepted budget definitions.
2. The total interest burden ( on loans) of the Government may amount to a maximum of 5% of the average government revenues of 3 previous years. No loans shall be taken out for consumptive expenditures. The interest burden rate is an average for the entire year, throughout the year, up and down fluctuations are possible.
3. The interest burden rate is in effect for the entire collective sector as this is defined in international statistics ( it concerns the System of National Accounts of the UN). If it should appear in the elaboration that the SNA is insufficiently concrete or operational, one shall consider whether the ESR offers a solution to this. By joint sector is also understood in these statistics, artificial persons in public and private law, of which the revenues are not realized on a market and which are financed for more than 50% via collective burdens. In order to determine which expenses are capital expenditures and which consumptive expenditures are linked to the definition of capital expenditures in the National Accounts.
4. Curacao and Sint Maarten may only borrow at or through the intervention of the new, yet to be established institution (Government credit bank). This institution shall supervise the compliance with the above stated financial standards and on condition that the conditions established have been met, shall provide loans to Curacao and Sint Maarten.
5. Integration of the USONA funds earmarked for the multi-annual cooperation programs in the country budgets of Curacao and Sint Maarten. The USONA funds are visibly earmarked on the revenue- and expenditure side of the country budgets of Curacao and Sint Maarten. This will result in a greater transparency and a better policy integration of expenditures. The accountability for the review of the use of these funds in the cooperation programs remains with USONA. In the longer term- as soon as there is talk of a sustainable sound position – the USONA funds can be made available in the form of un-earmarked budgetary support. The USONA funds are not used for debt restructuring.

The financial standards shall be anchored by consensus statute-law ( by virtue of article 38 paragraph 2 Charter).

L. Supervision during the transition period

1. During the transition period to the new political structure, there will be financial supervision of the country the Netherlands Antilles, Curacao and Sint Maarten, a supervisor will be introduced. The supervision during the transition period is meant to prevent the financial situation from deteriorating during the transition period and new debts from being created and to attain a sound starting position for the entities at the start of the new political status.
2. During the transition period, the Country Netherlands Antilles and the island territories ( to the extent authorized), can only borrow money via the supervisor under strict conditions ( with regard to the financial management, interest burden rate and such).
3. The supervisor shall be introduced by (consensus) implementing kingdom ordinance. In this implementing kingdom ordinance, the standards against which a review will be made, the tasks, competencies and organization structure of this supervisor, as described hereafter, have been included.
a. The supervisor shall get four tasks:
- the supervision of the application of the established financial standards. This supervision shall take place at the preparation of the budget, the implementation of the budget, the accountability and at the money transfer. N.B. In the event the debts have not yet been restructured, this shall be taken into account in the standards as included above at the section debt restructuring;
- the review as to whether the stated conditions have been met for taking out loans by the country and the island territories authorized to do so;
- reporting to and advising the Ministers in question, the Councils, the Commissioners, Island Councils and the Kingdom Council of Ministers, through the intervention of the Minister for Administrative Innovations and Kingdom Relations.
- supervision of the implementation course for the new standards and of the improvements of the financial management.
b. The Kingdom Council of Ministers, upon the advice of the Supervisor, may give
instructions to the Administrators of the Country and the Island Territories, within the framework of that agreed upon under point a, included in which, if necessary, placing (parts of) the budget under prior supervision.
c. The Supervisor is a Council, the members of which are appointed by the Kingdom
Council of Ministers. The Council comprises six members. The Netherlands nominates a member, the Netherlands nominates a member on behalf of Bonaire, Sint Eustatius and Saba collectively and the Country Netherlands Antilles, Curacao and Sint Maarten, each nominate a member. The Chairperson of the Council shall be appointed upon the recommendation of the Kingdom Council of Ministers by the Kingdom Council of Ministers. The Chairperson ensures an efficient and successful execution, in which consensus is sought. In the event of a tie of votes, the Chairperson shall have the decisive vote.
d. The costs of the supervision during the transition period shall be financed by the
Netherlands.

M. Supervision in the new political structure

1. The supervision of compliance with the financial standards for Curacao and Sint Maarten is carried out by the new institution ( hereafter to be called “ Government Credit Bank”). It must still be considered whether this new institution shall also supervise compliance of the financial standards by Bonaire, Saba and Sint Eustatius.
2. The management of the Government Credit Bank is comprised of four members and is appointed by the Kingdom Council of Ministers, of which one member upon the recommendation of the Government of Curacao, one member upon recommendation of the Government of Sint Maarten, one member upon the recommendation of the Government of the Netherlands and one member ( also the Chairperson) upon the recommendation of the Chairperson of the Kingdom Council of Ministers.
3. The countries may have temporary shortages during the year. Further agreements shall be made as regards the manner in which these temporary shortages shall be financed. The Government Credit Bank has a role to play in this.
4. The Government Credit Bank may not provide any loans to Curacao and/or Sint Maarten if an examination of the budget or the budget execution shows that the financial standards have not been met.
5. The review of the budgetary standards also comprises a systems review of the execution of the regulation with regard to financial management. As regards the interpretation of the systems review of the execution of the regulation with regard to financial management, further agreements shall be made.
6. The institution reports to the Administrator in question of the country, to the Parliament and through the intervention of the Minister for Administrative Innovation and Kingdom Relations, to the Kingdom Council of Ministers which can decide to intervene in case of violation of financial standards.
7. The institution of the Government Credit Bank shall be anchored in a (consensus) statute-law.
8. Calamity regulation: the Government Credit Bank, having heard the Kingdom Council of Ministers and the entities, shall establish a range within which the entities can finance the first necessities in the event of calamities, quickly and adequately.
9. The operational costs of the Government Credit Bank shall, to the extent necessary, be divided between the Netherlands, Curacao and Sint Maarten, in accordance with a further to be determined distribution code.

N. Monetary affairs

There shall be one central bank for Curacao and St. Maarten with one set of legislation and one supervisor for the regular monetary and financial supervision ( conduct – and prudential) and the integrity supervision. Curacao and Sint Maarten have laid the foundations for this in a technical meeting of October 12th 2006. It is yet to be seen if and in what manner Bonaire, Saba and Sint Eustatius shall be linked to this central Bank.

O Social economic development

1. The commitment of the Government of the Netherlands Antilles and the Island Governments is to realize a sustainable future for the population of the islands. To this end, the Government and the Island Administrations themselves have developed various initiatives, among other to improve the future perspective on the islands themselves for the youth. Part of these initiatives is the implementation of the social education commitment, the Delta plan education, included in which is the compulsory education and work obligation for young people up to 24 years of age and the handling of social deprivations. The Netherlands supports these activities.
2. In the outline accord, it has been agreed that a Social Economic Initiative shall be developed. The SEIs too are aimed at a structural approach of the current social-economic problems and have as their ultimate objective, the realization of a sustainable improvement of the social economic perspective of the population. Curacao and Sint Maarten shall cooperate in further development of the Social Economic Initiative (SEI). In the SEIs, concrete policy measures shall be included which are aimed at making the Government finances sound, a necessary restructuring of the economic structure and for Curacao the reorganization of the Government apparatus. Stimulation of Investments and a social safety net shall also form part of the SEIs.
3. As included in the outline accord of October 22nd 2005, the SEI involves a plan of action for making the Government finances sound, for ( the country and) the individual island territories and where necessary to revitalize the economy or as the case may be to have this developed or built up evenly. In doing so account is taken of the fact that the responsibility for the economic policy, falls to the islands. After the Island Governments in question have given their approval, the plan of action, at the suggestion of the Country Government, shall be submitted by the Minister for Administrative Innovation and Kingdom Relations for approval to the Kingdom Council of Ministers. This latter, in connection with the willingness of the Netherlands to contribute to the execution of the plan of action by making additional financial means available for the stimulation of investments and a social safety net. The SEIs of Curacao and Sint Maarten, shall be established prior to February 1st 2007. At the implementation use shall be made of mutual regulations as meant in article 38, paragraph 1 of the Charter. As soon as the SEIs have been established, the implementation must be started.

III. EVALUATION

Five years after the time that the new constitutional structure of Curacao and Sint Maarten has completely gone into effect, the functioning of the new structure shall be evaluated collectively by Curacao, Sint Maarten and the Netherlands and where necessary adjusted.
Prior to the evaluation, Curacao, Sint Maarten and the Netherlands shall collectively establish the criteria and topics for this.

IV. IMPLEMENTATION

1. The Netherlands, the Country Netherlands Antilles, Curacao and Sint Maarten shall set up a phased plan collectively prior to February 1st 2007, for the realization of the agreements made as regards the new political relations. Aruba shall be involved to the extent necessary at the realization of the phased plan.
2. In the phased plan, a link shall be sought to the strategies of Curacao and Sint Maarten for the realization of the Country status, the strategy of the Netherlands Antilles for the dismantlement of the Country Netherlands Antilles and with the phased plan for the realization of the new status for Bonaire, Sint Eustatius and Saba.
3. A timetable for the implementation shall be included with the phased plan, taking into consideration the agreements which were made at the starting-Round Table Conference.
4. Curacao and Sint Maarten themselves are responsible for the interpretation of their status as Country within the Kingdom. The entire direction and coordination of the changing relations within the Kingdom is in the hands of the Kingdom, Curacao and Sint Maarten collectively. The Netherlands, the Netherlands Antilles, Curacao and Sint Maarten shall make a proposal before February 1st 2007, for the interpretation of the direction and coordination.
5. The agreement between the Netherlands, the Netherlands Antilles, Curacao and Sint Maarten as regards the points in this closing statement, as regards the phased plan and the proposal for the direction, shall be confirmed in a Round Table Conference.

The delegations of the Netherlands, the Country Netherlands Antilles, Curacao and Sint Maarten, are of the opinion that in the new political structure- interpreted along the lines as described in this statement- the interests of the populations of the islands are guaranteed and shall better enable the islands to solve social problems themselves and to improve the welfare of the population.

Thus agreed on November 2nd 2006, in the Hague,

On behalf of the Netherlands on behalf of the Netherlands Antilles
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A. Nicolaï Mrs. E.S. de Jongh-Elhage

On behalf of Curacao on behalf of Sint Maarten,
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Mrs. Z.A.M. Jesus-Leito Mrs. S.A. Wescot-Williams

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Submitted by Flipper on Wed, 2006-11-08 20:29.