The reality is, however, that the pursuit of an exogenous agenda that lacks national “buy-in” could present serious challenges for the small Caribbean economies that have fragile domestic financial systems and are short on implementation capacity.
Before I go on to discuss the solutions to these issues, let me first make one thing clear: I do not subscribe to the view that small banks and savings banks are put at a systematic and deliberate disadvantage – and that is because regulation and supervision have been proportionate in many areas for many years already.