However, these estimates are surrounded by many uncertainties: the European economy’s modest growth performance in recent years and the progressive ageing of the population may have swayed the IMF’s calculations. Might the IMF be suggesting that, with growth at 2.0%, the euro area is creating inflation? Not necessarily.
A great deal of time and patience will be required to work out a more balanced relationship. Curaçao and Sint Maarten are microstates, but they have to build up and maintain all the institutions necessary to function as a democratic constitutional state. This institution building began only three years ago in Sint Maarten.