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The implications of the financialeconomic crisis for the financial services industry Presentation: Globalaw Americas Regional meeting Hotel Hyatt Regency Curacao June 11th , 2010 Drs. A.G. Romero Executive director Bank van de Nederlandse Antillen Challenges for the local financial sector. ◦ GDP growth 1% ◦ Unemployment rate drops to 10% World economic and financial environment. ◦ ◦ ◦ ◦ ◦ World Economic outlook Performance selected countries Dow Jones industrial avg. New York AEX Amsterdam Euro dollar exchange rate Financial services represent 16% of the economy 16% employment created in the sector Average of 11% foreign exchange earnings Adherence to budgetary norms and corporate governance rules Maintaining the financial services industry flexible and transparent Transparency and information exchange standards Reduction corporate tax rates Flexiblisation of labor market laws
