Its negative shortterm effect on economic activity was the price paid for averting more serious consequences. With the benefit of hindsight it is clear that the reform of European governance was long overdue. The long-dormant process was effectively set in motion by the sovereign debt crisis. Despite hesitancy, overlaps and redundancies, within a very short span of time definite progress has been achieved.
These are persons who, because of circumstances into which they were born or through personal misfortune, are unable to enjoy the quality of life to which we all aspire. Just as the island is susceptible to natural catastrophes, including hurricanes because of our geographical location, so too are these persons especially vulnerable to the economic shocks that confront us from time to time.