The Netherlands Antilles and the Netherlands have signed a landmark agreement which completes the constitutional reform of the group of five islands in the Caribbean.
Under the terms of the agreement, Curacao and St Maarten have been allowed to establish themselves as countries separate from the Netherlands, while Bonaire, Saba and St Eustatius will become special Dutch municipalities.
The agreement, which emanated from a constitutional crisis in 2004, "due to irreconcileable differences between the constituent islands,” will have effect from October 10, 2010.
Commenting at the signing, Dutch Prime Minister Balkenende, said that the agreement "marks a special moment in the political history of the Kingdom of the Netherlands.”
Balkenende added that the five years of tough negotiations completes a process "that has led to the most radical revision of the Statute of the Kingdom of the Netherlands since 1954.”
.Tags: law | offshore | investment | agreements | international financial centres (IFC) | Netherlands | Netherlands Antilles | Netherlands | Netherlands Antilles
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