•  And one last change I would like to mention: you would re-call that in the 1970s and 1980s, we embarked on the “localization” of the banking sector. Currently, reflecting the impact of what we could broadly call “globalization”, of the eight commercial banks operating in Trinidad and Tobago, six are foreign-owned – a reversal of the localization trend.
This might teach us something useful about the challenges that the new Member States may face in converging towards the euro adoption. In 1995, i.e.