St Lucian PM shocked by Brexit vote
CASTRIES, St Lucia (CMC) – The recent Brexit vote in the UK has been described as shocking by St Lucia’s Prime Minister, Allen Chastanet.
Speaking from Miami, Chastanet asserted that it was too early to make a real determination as to its total impact.
The St Lucia Prime Minister who returns here Sunday from his first overseas trip since his victory at the polls on June 6, noted that the initial shock from the development was a devaluation of the pound.
He said this was a major concern.
The former Tourism Minister observed that the UK is a huge tourism market for St Lucia and disclosed that this country is also an important destination for British nationals buying real estate.
He explained that with a devalued pound it would become more expensive for them to both vacation here and buy real estate.
“There are so many ways that you can spin this.”
Chastanet said he was hesitant to make a full comment until he knows what the final decision is going to be.
“Clearly David Cameron resigning and potentially a new Prime Minister coming in – whether that person continues down the path of the decision of the referendum, is to be seen,” the United Workers Party (UWP) leader said.
He observed that there are already two million people who have signed a petition for there to be a new referendum on whether the UK should leave the European Union.
“It is very early and it is shocking,” adding that the vote will have major ramifications.
Concerning St Lucia’s banana trade he said “The UK will be a separate entity and will not have to conform to European Union laws in terms of free trade.” Chastanet questioned whether that could lead to a resurgence of St Lucia’s banana market.
“There are just too many questions that remain unanswered at this point,” the Prime Minister declared.
Meanwhile Opposition leader, Philip J. Pierre, believes it is too early to determine what the impact of a vote by the UK to leave the European Union will have on the Caribbean.
A former Tourism Minister, Pierre observed that the immediate effect of the UK vote to leave the European Union was a decrease in the value of the pound.
He stated that if the pounds stays down, UK visitors will have less money to spend because their currency will be worth less.
The UK is St Lucia’s third largest tourism market.