The Editor
The Anguillian Newspaper
Stoney Ground
Anguilla

Dear Editor:

“There is a tide in the affairs of men,
Which, taken at the flood, leads on to fortune;

Omitted, all the voyages of their life
Is bound in shallows and in miseries.
On such a full sea are we now afloat,
And we must take the current when it serves,
Or lose our ventures.”

(Brutus in Julius Caesar Act 4, scene 3, 218-224)

Anguilla’s tide is fast ebbing, and those tasked with serving the People are in the throes of “omitting” to take this tide at its flood.
Our Economy is in such a state that “Happy Christmas” this year will ring hollow for many.
We look around us and see signs of desperation in this time of what should be "Comfort and Joy.”
We hear persons blaming the “World Recession” for our plight. Fingers instinctively point at others, while we try to absolve ourselves of responsibility for the economic noose which strangles us.
In this “Silly Season”, as Election Campaigning is so aptly referred to, we hear much contumely, as opposing Politicians try to outdo each other in vying for the votes of the Anguillian People. We hear so-called proposals being suggested by these Politicians, presumably for the betterment of Anguilla. Yet, they, in the main, fail and or/ refuse to confront the reality of Anguilla’s fundamental problems.
Until we accept that we cannot move forward without understanding from where we have come, we are doomed to repeat the failures of the past.
History is replete with examples of failed States and Empires which have died as a consequence of neglecting the lessons of past civilizations. In every such case, the Roman Empire, the Greek Empire, the Ottoman Empire, the British Empire, and the Soviet Empire (not to miss the American Empire which is unraveling before our eyes), a complacent citizenry and an egotistical Political Elite, basking in what they perceived to be a state of material comfort and illusory Power, had refused, and in the case of the U.S.A, continue to refuse, to adapt to the lessons of the past, out of a combination of fear, greed and a false sense of security. The inexorable consequence has been the demise of these Empires.
What, you may well ask: do those failed civilizations have to do with us in Anguilla today? Simply put, we are not prepared as a People to take the proverbial Bull by its proverbial horns and take our own destiny into our hands. We are however readily prepared to take all of the non-proverbial Bull from the Powers that be, and those that want to be the Powers that be!
The three “Beasts” which are consuming Anguilla are as interrelated as Siamese Twins are connected. The Economy, the failed Flag/Temenos Project and the dictatorial and oppressive United Kingdom Government enabled by politicians, past and present, who are afraid to deal with reality.
The central character in this tragic ‘Danse Macabre’ is the Government of Anguilla.
Whatever the objective and subjective forces which brought Flag/Temenos to its knees, its devastating effect on our Economy is unquestionable. Our Chief Minister, Mr. Osbourne Fleming, is quoted in a Wall Street Journal article by the author, Kris Hudson, as saying: “That project was the most important project Anguilla ever had, Mr. Fleming says. Every person in Anguilla has been affected negatively by its nonperforming.”
So, while our Economy began to do the death dance with the abrupt closing of that Project, our Government, in what may well have been a prudent move at that time, allowed Bob Sillerman, the 75% owner of Flag Luxury Properties (Anguilla) LLC., time to cobble together a way forward.
From July 31st 2008 to now, Sillerman’s failure to find the means to resume the Project needs no repeating here. It is glaringly ubiquitous.
Month after month there was no good news from Sillerman on the resumption of the Flag Project. Yet the Government persisted with Sillerman’s efforts to find a solution.
The Government have been tap dancing around the inevitable given of Compulsory Acquisition. They put forth reasons and explanations for this waltz, none of which justify the inexplicable delays which have occurred, and which continue to occur with respect to the taking of this step.
So as to be clear, make absolutely no mistake about it: THERE IS NO PRIVATE COMMERCIAL SOLUTION TO THE FLAG/TEMENOS MESS! The only way it can be viably continued to completion is by way of Compulsory Acquisition. And, despite what certain persons are telling you, it is a simple process; it is in fact elegant in its simplicity. Anyone telling you otherwise is lying to you. Full Stop! Anyone who tries to scare you with talk about being tied up in Court for years “like Cap Juluca..” is being deliberately deceitful: Cap Juluca is a Civil case between two men each of whom claims to own the resort. This has nothing to do with Compulsory Acquisition.
The reason why the failed Flag/Temenos Project does not admit of a private commercial resolution is itself quite simple:
1. Credit Suisse has a Charge on all the Project’s real estate to secure US$ 180,000,000.00. (It is said that this debt has been reduced to approximately US$ 150,000,000.00 (one hundred and fifty million dollars) by the payment on a Personal Note issued by Sillerman). The end result is that there is a Security in the sum of at least this latter amount.
2. There are alleged claims against Flag/Temenos by purveyors, contractors etc. for work allegedly done, which amounts to at least another US$ 50 to 100 million. Any private commercial deal must take these into account in order to avoid costly and time-consuming Litigation.
3. The estimated cost to complete the Project varies between US$150 million and US$ 200 million. I have heard an estimate as high as US$250 million.
Using the lower of the figures, we have a total of approximately US$350 million required to take the ball from where it now lies and carry it across the goal line, and this does not include the money that an investor will no doubt have to pay for shares in the Company, or to buy “an equity position” in the Project.
A document dated July 2009 and titled “Temenos Resort, Anguilla Luxury hotel and residential community on the Caribbean island of Anguilla, a British Protectorate” contains a section at page 4 headed “Investment Highlights” which states as follows:
“Opportunity to acquire $180 million dollars of first and second lien debt for 100 million
Retain first position in the capital structure
$80 million convertible into 50% common equity
Blended 37% return
Owners have recently concluded negotiations with the Government of Anguilla for a 25-year bed tax concession.
Savings of $98 million over 25 years
Real Estate units are 90% sold-out and under contract.”
The above suggests that an investor can buy the 180 million debt for 100 million and convert 80 million of that debt into equity (shares) in the Project, leaving 20 million as a loan to the company and having it secured by the security of a First Charge.
So, that document suggests that an investor can buy 50% of the Project (obviously of the shares in Flag Luxury Properties (Anguilla) LLC.) for 80 million dollars, after the payout of Credit Suisse and by way of conversion of debt to equity.
What it does not address are the other debts claimed by entities and persons other than Credit Suisse, and the costs of completion.
So that we can safely assume that it would take somewhere in the region of US$ 350 to 400 million dollars to arrive at the day when it is completed and operational, if done on a private commercial basis. And that is before it earns its first Dollar!
Mr. Sillerman has not succeeded in attracting any success on the private commercial front since July last year when the Project was shut down and, given the current situation in the World Capital Markets, it is a safe bet that success in this manner is illusory.
On the other hand, a Compulsory Acquisition by the Government of Anguilla removes the Credit Suisse Charge, and all other Charges and Claims, from the property, and they then attach, in priority, to the monies paid in compensation for the Compulsory Acquisition. These matters will not burden a purchaser from the Government after acquisition.
In the interest of full disclosure, the exercise of its Power of Sale under the Charge by Credit Suisse will equally cleanse the property of these burdens. However, the value on a Compulsory Acquisition will be considerably less than the amount which Credit Suisse would seek to obtain on a sale as Chargee because they would seek to recover as much of the debt secured by the Charge as they possibly can.
The value on Compulsory Acquisition is to be determined without reference to the debts owed by, and the monies spent on the project. What is there at the time of acquisition is valued as is, where as, at that current Market value, and, given the very situation referred to above which straddles the World Capital Markets and which have depressed prices for these types of projects significantly, it is a very safe bet that that Market Value will be far below what Credit Suisse would wish to obtain on a Chargee’s Sale.
Therefore, the safest way to ensure completion of the Project is for the Government of Anguilla to Compulsorily Acquire it. Full Stop. And, what is more, I am sure that the Government knows that. Yet, they fiddle.
To continue from where I digressed, the Government was faced with its own financial crisis brought about, in no small measure, by Flag’s failure. They introduced “austerity measures”. Cut Civil Servants Salaries and Allowances. Reduced and eliminated Public programmes.
Then the manure hit the fan and the Government was required to borrow to meet recurrent expenditures.
I am of the very firm view that Government borrowing is healthy, particularly when in times of crisis private capital investment has dried up. It is the only way to economic recovery: MASSIVE Government spending!
So, our Government, quite correctly, set about to obtain loans to stimulate our Economy.
WHAM!! They ran head-first into a beast of their own creation: a non-binding “agreement” with the UK Government with respect to “Guidelines for Borrowing”, being slapped in their faces by Minister Chris Bryant, Undersecretary with responsibility for the Slave Colonies (genteelly referred to as “The Overseas Territories”). He made it clear to the Ministers of the Government of Anguilla who were elected by the People of Anguilla to govern the affairs of Anguilla, (albeit with only 40% of the votes cast in the 2005 Elections) that HE was NOT going to give THEM permission to borrow UNLESS they introduced certain Revenue raising measures. TAXES!!
Now, as I have said before, NOBODY in Anguilla voted for Chris Bryant! NOBODY! In fact, NOBODY in Anguilla would EVER vote for him if he ran for office here.
Yet, he has stymied our Government who, for the first time in recent memory, are not presenting a Budget in December 2009, as is the norm.
People on the streets of Anguilla are legitimately asking whether this unprecedented step by the Government, in not presenting the Budget before the Elections, is intended to hide the fact that they have agreed with Chris Bryant to raise Taxes and to introduce new Taxes, and whether they will introduce more, higher and new Taxes in the post Elections Budget, knowing full well that if they were to do so prior to the Elections it would cost them dearly at the Polls.
To make matters worse, People are complaining about the fact that the Government has sent a Ministerial Delegation to London to meet with the said Chris Bryant to hold discussions affecting Anguilla, without informing the People as to what the Agenda items would be and getting the People’s views on each such item.
There is concern that that meeting will decide matters seriously affecting Anguilla and the Government will present us with a fait accompli. These decisions would be without the Mandate of the people of Anguilla.
The People are quite concerned about this. Just listen and you will hear! Just look and you will see.
One Gentleman recently said to me that “..they going come back having agreed to all sorts of things which will affect all of us negatively, and they will keep it quiet til after the Elections because they know that the People of Anguilla will do nothing then, but they fraid to tell us before the elections because they know we would vote their arses out”. This from a man who is a staunch Government supporter! I was shocked.
Which brings me to the final point: INDEPENDENCE!
None of our erstwhile Politicians, So-Called Politicians and Wannabe Politicians is, to the best of my knowledge, information and belief, publically addressing this most critical issue.
This goes to show that there is an understanding gap between these persons and the People of Anguilla, the majority of whom are now convinced that continued subjugation to Britain is detrimental to Anguilla’s best interest.
It is not enough to whisper about it behind closed doors. The People of Anguilla are desperately seeking Leadership on this; the most fundamentally critical issue to our wellbeing, yet, our Politicians fiddle while Anguilla burns at the evil hands of Whitehall!
I need not remind you, Mr. Editor, that Anguilla has been Financially, Economically and Fiscally INDEPENDENT since 1985, insofar as its Recurrent Budget is concerned, and since 1991/2 in respect of Capital Projects. The British Government DOES NOT GIVE ANGUILLA ANYTHING!! ANGUILLIANS PAY THEIR OWN WAY!!
There is absolutely no benefit to Anguilla and for Anguillians to continue to be Slaves of the British. Indeed, it is Slavery when you are told what you can and cannot do by persons who are neither supporting you nor answerable to you for their actions. It is Slavery when your House of Assembly is subject to being overridden by a stroke of the pen of a Colonial Governor! It is indeed Slavery when the British Government orders your Assembly to pass Laws which have no benefit for Anguilla or its People, and imposes them simply because the British and their International counterparts say so!
I have said before in this medium, and on radio, Anguillians are a Great People capable of Great things! Anguillians are fully capable of Governing their own affairs, domestic and International. Nobody in Britain, Ministers of Government or otherwise, including the several Civil Servants of the British Crown, like the Governors who are sent here to overlord us, are better able to govern Anguilla than Anguillians are.
Unless we come to grips with our own abilities; unless we accept that the British are very ordinary people given to wanton acts, and stupid mistakes; that they are as incompetent as anyone else; that they are a Nation of failures in the main; that they do not give a ship’s hull, or a camel’s arse about us; unless we throw off the cloak of insecurity which smothers our collective profound abilities as a Nation of People, WE, ALL ANGUILLA, are doomed to a perpetuity of being Second Class Citizens in this Country. To continue in this subservient relationship with a failed Nation-State is to ensure that our children’s future is one of supplication to an alien people.
Anguillians need not be subservient to any People. Anguillians are Leaders in their own right. It is time to acknowledge and accept the gifts that God have bestowed upon this Nation of People, and in honour of His generosity to you, put them to good use. Stop being afraid. Stop living in fear. Stop fearing Politicians, whether they be British or Anguillian. They are the Servants; YOU are the Masters! Manners their backsides when they do not what you say! Vote them out when they treat you as a commodity and do not act in YOUR best interests as dictated by YOU!
Rebuke fear. Lift up your heads with pride in the knowledge that God created you equal to all with the ability to rise about the flock, and that you have, through dint of hard labour and sacrifice, risen to greatness as a People!
Let us set the Timetable for Independence. Let it happen during the term of this present Governor so that when he boards the plane at the end of his tenure he carries with him the Union Jack, and all the years of dictatorship, oppression, imperialism, disrespect, racism, slavery and arrogance which it symbolizes.
Should we fail to take this tide at its flood, the future for our children will be bleak.
In closing, permit me to quote from “The Declaration of Independence of the Thirteen United States of America”:
“When, in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain inalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security. – Such has been the patient sufferance of these colonies; and such is now the necessity which constrains them to alter their former systems of government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states….”
This Declaration was made in July 1776 in America.
It is today equally applicable to Anguilla. That Anguilla has suffered likewise at the hands of the United Kingdom governments is without doubt; See: “ Out of the Crowded Vagueness”, by Brian Dyde, available at the Coral Reef Bookstore in Little Harbour.
This book paints a picture that shall bring tears to your eyes as to how the people of Anguilla, St.Kitts and Nevis were treated by the British. It reveals how the suffering of these people was not accidental, but was incidental to Colonial Policy.
It is instructive on the failures that lead to the 1967 Anguillian “Revolution”. The cause harkens back centuries and was inseminated, bred and nurtured by the British, manifesting its ugly self, eventually, in the Constitutional Documents they foisted upon the Peoples of this region. The plight of the People was all the while predicated on the economic wellbeing of the British at the expense of the people of these islands who were to them, until relatively recently, commodities and chattels.
Disposable, godless objects.
The way the British view us now is the very same as they treated us then. What has changed are the labels used. The substance remains constant.
“Anguillians; FREE THYSELVES!”

Thank you Sir

Tommy Astaphan
Little Harbour
Anguilla

| Printer-friendly page | Send this article to a friend |

World News