WILLEMSTAD - The bankruptcy of the Girobank has major consequences for the economy of the small island of Curaçao. That is the message from Ettiene Ys, chairman of the Supervisory Board of the Central Bank of Curaçao and St. Maarten.
A maximum limit was set last month for Giro Bank customers. According to Ys, this was the result of a run for the money that put Giro's funds at risk. The situation is now being analyzed before a decision is made.
Giro has a $ 300 million debt, but bankruptcy has consequences for everyone, according to Ys.
At the end of the month, the Central Bank will present various proposals to the government to resolve the situation, and a guarantee fund is proposed to enable victims to receive their money.