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Tuesday, 14 June 2016 14:56

Decision needed on CLICO

Written by C News
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The Chairman of the CLICO Stakeholders Alliance, David Walker, says the Central Bank should relinquish control of CLICO now that circumstances have changed since it took control.

"After seven years, it saved the company then it does not any longer have the authority to control the company and it seems to me that the Act itself anticipates a point in time when the rescue has been sufficiently successful to say the company goes back to its shareholders."

Mr. Walker also told C News if the economy cannot continue to withstand the bailout, something has to be done.

"If the Government is of the view and the Central Bank is of the view that the economy is still at risk from CLICO, they ought to come forward and tell us so and explain to us why it is still such a risk after seven years and after $20 billion."

Read 327 times Last modified on Tuesday, 21 June 2016 09:17
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