Local Leader Calls UK's Lack of Financial Assistance to Turks and Caicos, "Disrespectful"

By: The Turks and Caicos Sun News

Local businessman Albray Butterfield Jnr. Is strongly criticising Britain’s involvement in an economic bailout package for Portugal that has been approved by European Union (EU) finance ministers and which includes a £4.2 billion contribution from Britain.

“As a proud Turks and Caicos Islander, I find this latest revelation very offensive, prejudice and disrespectful,” Albray said in a short commentary to the SUN.

“The issue that I have found so offensive... is the outright blatant hypocrisy and prejudice displayed internationally by the UK Government towards the Turks and Caicos Islands (TCI),” Albray said. “Since taking control of the TCI by the UK Government in 2009 (which at the time, was a long overdue and necessary intervention that I undeniably supported), the UK Government has allowed the citizens and the economy of the TCI to further suffer and fall deeper into bankruptcy by announcing to the world within days of taking over that: "...the UK Government will not be taking the British Tax Payers Money to bail-out the Turks and Caicos Islands..." -Mr. Colin Roberts of the UK FCO. (Which I might add is a UK Territory and a situation in which the OVERSEER’S /UK Government is part responsible for the social and economic state-of-affair the TCI found itself in 2009).”

Butterfield continued: “Fast forwarding to 2011, to now have exposed to the world that while the UK Government was saying NO to bailing-out the TCI (their own territory) for a measly and up to $400 million (if you include the prevention of TCI Bank Limited from collapsing, and a few much need infrastructure projects such as the construction of new public school buildings, etc), the UK Government was simultaneously negotiating with the IMF a £67.5 billion bail-out package for the country of Portugal (a non UK territory) of which the UK is contributing £4.2 billion towards Portugal's bail-out.”

The £67.75 billion package, subject to strict austerity measures agreed by Lisbon, is the second to commit the UK to financial guarantees which will only be called upon if Portugal defaults on the loans it raises thanks to the EU-IMF combined bailout deal.