Normalisation of interest rates and rising unemployment may present a certain risk to the development. If the low growth continues in the euro area in the coming period, the normalisation of interest rates will be postponed. By contrast, stronger economic growth could cause interest rates to rise, but in that case, unemployment will stabilise and perhaps begin to fall.
None other than Sir Shridath Ramphal, a Caribbean luminary and the Distinguished Speaker at last year’s Eric Williams Memorial Lecture, emphatically notes that leadership in the region has „put the gears of the CARICOM Single Market in neutral and the gears of CARICOM Single Economy into reverse‟.