Lovell Describes The PM Statements On Scotia Bank As Absolute Madness

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Leader of the United Progressive Party, Harold Lovell, deemed Prime Minister Gaston Browne’s statements about Scotia Bank closing its Antigua branch as ‘absolute madness’, ‘reckless’ and ‘irresponsible’.

This was in response to PM Browne’s previous statement where said he will ask Scotiabank customers not to repay their loans if the bank ends it operations in Antigua & Barbuda.

Lovell added that the prime minister’s statement could carry an ordeal of consequences.

“Now this is no way for the Prime Minister to approach this issue. He risks for example people deciding that they don’t know what is going to happen so they are going to go for their money. So he is risking a run on the bank, he is risking the bank closing without any proper arrangement thereby placing people’s jobs at risk.” he explained.

He also stated that PM Browne’s advice to antiguans and barbudans to not repay loans could give rise to lawsuits against him.

“Because here it is that a prime minister is advising people to break a contract that they have with the bank. The bank could therefore site him as a party to an action for interfering with that contractual relationship which will cause the people of Antigua & Barbuda, the tax payers, a huge amount of money in legal fees and ultimately potentially in damages.” he outlined.

 

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39 COMMENTS

    • Boy you really hate the man. You really think the PM would be so callous and so stupid to make statements that he could be sued for. You and Lovell have to wheel and come again. The condition was ‘If Scotia Bank choses to close the bank”, then he would advise people not to pay their loans. The same way many are not paying their ABIB loans and find themselves now in all sorts of legal proceedings with the receivers. Now that Scotia is put on notice they can chose which way they will chose. And as the Pm said it would be better for them to just give the bank away for $1.00.

      • YOU OBVIOUSLY DON’T LIVE IN ANTIGUA OR FOLLOW THE NEWS. He did make these statements. Just like the people who voted for Trump that never believe anything anything anyone says about him you Antiguan red cool-aid drinkers do the same thing then complain bout the same Trump and his followers. Hypocrites were are, HYPOCRITES!!!!

    • Notes From A Native Son Of The Rock! “You cannot carry out fundamental change without a certain amount of “absolute madness”. In this case, it comes from “reckless” nonconformity, the courage to turn your back on the old formulas, the courage to invent the future. It took the “irresponsible” madmen of yesterday for us to be able to act with extreme clarity today. I want to be one of those “reckless” madmen. We must dare to invent the future.” – Capitaine Thomas Isidore Noël Sankara, President Burkina Faso, Assassinated 1987!

      The Honourable Harold Lovell was A&B’s Finance Minister from 2009 to 2014 while we laid and hatched our Fiscal and Economic eggs in the IMF’s NEST of Fiscal and Structural Adjustment!

      At that same Historical Referent Point, The Honourable James Flaherty was Canada’s Finance Minister, who prepared Statements to the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund on behalf of Antigua and Barbuda, the Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Ireland, Jamaica, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines! Lovell practiced his craft as a colleague of Flaherty! Through words and deeds, A True Believer and A Disciple!

      “Enhancing financial sector resilience and stability is a top priority for the Caribbean. The authorities are intensifying their efforts to strengthen and consolidate the supervision of non-bank institutions, and to fortify bank balance sheets against weakened credit quality and strained liquidity conditions.” Flaherty. October 9, 2010

      “In these regards, regional authorities view the continued engagement of the international financial institutions and other development partners as vital to ensure that economic vulnerabilities are addressed. They also see this support as vital to allow the region to effectively adapt to the changing global landscape of financial regulations and standards.” Flaherty. April 16, 2011!

      That one cannot function properly as a political, economic, socio-cultural and technological scientist if you do not locate the issues in Time and Space is without question! Clearly chronology is as important as location which makes these two aspects most important to any proper understanding of the leader’s personality and his understanding of the society and its history!

      Fast Forward to 2017! The Eastern Caribbean Central Bank Strategic Plan: “Goal 2 Ensure a strong, diversified and resilient financial sector; OBJECTIVE: 5. Support the amalgamation of indigenous banks; INDICATOR: • ECCU indigenous banks capitalised adequately and leveraging the advantages of scale and scope through consolidation!” Agency!

      “One of the simplest ways of accessing textual clarity is through etymology. Myths tie all relationships together, whether personal or conceptual. It is the (political, economic, socio-cultural, technological, legal and environmental) scientist task to determine to what extent the myths of society are represented as being central to or marginal to society. This means that any textual analysis must involve the concrete realities of lived experiences, thus making historical experiences a
      key element in (Analysis).” – Dr. Molefi Asante!

      • Couldn’t you say it in less words??? Then people will actually read what you are trying to say. Too long. Much too long. Just get to the point.

    • Stay laser focus GB, don’t let naysayers deter you. You are the leading Caribbean visionary leader. History will preserve your stands. Back in those dark days there were house and field slaves..now is miseducated Wiseacres…

  1. The only madness I see is the UPP trying to be relevant in Antigua. The UPP is a loser political party that lost in a huge landslide in the last election. Seriously, I wish the UPP would focus on developing new ideas for Antigua rather than being peanut gallery whiny people based on whatever PM Browne says for the week.

    PM Browne speaks his mind and often is often sarcastic when it talks about frustrating issues like how Scotiabank is treating Antigua so very poorly. I think PM Browne actually has a good sense of humor.

  2. On what grounds can Soctia sue the PM on?? Really Mr. Lovell is that the best u can do? If I tell someone to stop paying their load which they are legally contracted to do is the insitution going to sue me?? I would like to meet the judge who would grant judgment in that case. Lovell go back to law school please.

    • I kind of think that the grounds were laid out above and in case it slipped your mind Harold Lovell is a qualified lawyer…with an actual bachelor’s degree, qualified barrister at law and a real master’s degree…all from esteemed universities. Have to take a guess and say that a prime minister telling people not to pay their loans on a public media is somewhat different to a lay person saying it in an “unprovable” private conversation. I would suggest that Official Misconduct or similar might apply in this case.

      • Both u and Lovell need fu go back to law school. There is no way Scotia can sue the PM of the people who they lend their money to stop paying their loans if the bank chooses to close their doors. The PM did not hold a gun to anyones head and tell them not to pay. I would like to see who judge would grant Scotia judgement but I cant expect any better from someone with a house slave mentality @jeb

        • So why the hell did he say it?? To appear bad or something? Cant believe sensible people trying to defend this nonsense

    • All of you folks who are running around trying to knock down Harold can’t do a better job
      than what he is doing. You folks need to educate your selves.

      • @purnell london. NOBODY is “trying” to knock down Lovell. He is already down. Have you not been keeping up with elections in Antigua? Melford gave him the last 2 juggernaut punches. If he wants to crawl and limp back to the ring for more blows next election, then that’s his FOOLISH DECISION.

        UPP DEAD DEAD DEAD. The HEAD is rotten. #LeadershipMatters

  3. I see you’re trying real hard Lovell, but if that’s the best you got, you are simply GRASPING AT STRAWS. Trying your best to look real “dignified” and “PM-esque” in that photo will NOT get you votes boo. You are a lost cause as leader of any party in this present time. I am afraid the sun has already set on you. To put it the Antigua way “you loss your morning and trying to regain your afternoon”

    UPP NEEDS ACTUAL LEADERSHIP! LOVELL JUST WON’T DO.

  4. ABSOLUTE MADNESS is Harold Lovell and the current slate of candidates/caretakers on the UPP ticket.

    Did I read correctly in their last press release that CHAKU WAKU is the spokesperson on FOREIGN POLICY??

    Watta calamity!!!!!

  5. But what about statement made by Baldwin Spencer advising Tax Payers to “chop up the collectors when they come” hmmmmmmmmm

  6. This was an opportunity for the opposition to put a proposal on the table that would benefit the employees, investors and the country. I did not get a counter to the PM’s statement. The negotiation tactics of the PM should not become a political debate. This is all about BUSINESS AND THE PEOPLE’S INTEREST. There are strength in numbers, if a majority of mortgage holders pool their payments in an escrow account it speaks volume. Other countries have made that strategic move to make change and get results.

    Look beyond the politics and mobilize strategically so that Antigua benefit instead of being taken advantaged. These large corporations to not treat the Caribbean or our leaders with respect. We have to meet them on their level and push back with enough leverage that benefit the country. Its a proposal suggestion not the law. A counter offer instead of a political statement would have made an impact.

  7. Wonders shall never cease!! Look who has just crawled out of his cave. ಠ_ಠ Lovell, the majority of Antiguans do not take anything you say seriously. You are quite possibly the most dishonest politician this country has ever had. Get lost, loser.

  8. You can always tell when the red cool-aid drinkers know they party doing crap because rather then defend the crap, they find someone else to cuss. I am for any party that takes Antigua and Barbuda to the highest heights; and both Administrations have done things good and things that could have been done better. I am also someone who does most of my financial business with Scotia Bank. Like Trump this PM is always picking a fight with someone. From Sandals to Digicel to Lime to Halcyon Hotel to Scotia Bank and I am sure I am forgetting someone. If he so looking out for Antiguans’ interest, why didn’t he negotiate a better deal with Yida or with Global Ports or with Carnival Cruise line thats getting Fort James to develop into a water park? Antiguans no want 40% of dem too? Scotia Bank has been in Antigua for 50+ years and is traded on the Canadian Stock Exchange, if people wanted ownership in the bank BUY STOCK! If they want piece of Republic Bank Holding, it is traded on the Trinidad Stock Exchange BUY STOCK IN DAT DAY TOO! Where was he when Barclays sold to CIBC or when RBTT sold to Royal Bank?

    The PM starting so many fires that the fire truck go soon run out of water. He instead needs to focus on buying the shares in ECAB that other banks in the region own so it can be 100% Antiguan and then merge with ACB if they really want to create a financial giant owned by Antiguans and Barbudans. He also needs to study about accumulating the funds to purchase the shares of LIAT from Barbados and be able to invest meaningfully in it after the purchase so it can start flying as far as Bahamas, Jamaica, Cayman Islands and all those Caribbean Islands that right now you have to go through Miami to get to.

    • Notes From A Native Son Of The Rock! “When (People of African Descent) view themselves as centered and central in their own history then they see themselves as agents, actors, and participants rather than as marginals on the periphery of political or economic experience.” – Dr. Molefi Asante!

      ECCB – CONSULTATIVE PAPER ON THE CONSOLIDATION OF NATIONAL BANKS IN THE EASTERN CARIBBEAN CURRENCY UNION – June 2018! One year ago!
      INTENT AND PRINCIPLES OF BANK CONSOLIDATION – The key objectives of promoting consolidation of the ECCU NATIONAL BANKS are financial stability, and growth and development.
      Principles of Bank Consolidation:
      Principle No.1 – A strong NATIONAL BANKING presence is critical to the development of the ECCU.
      Principle No. 2 – A strong banking system in the ECCU requires strong (well-capitalised and viable)
      NATIONAL BANKS.

      This mere voice in the wilderness is just saying, Pay Attention: BNS is opting out of the OECS(Their Market share is not sustainable given that Our Population’s Critical Mass is too small for those “Too Big To Fail”) for Larger Latin American Markets! Note Bien, TDCanada Trust has more Bank Branches on the US East Coast than in all of Canada!

      In another Canadian Industry Sector, a major consolidation and National interests battle, which may be instructive, is being waged with a ferocity we are yet to understand given our short history of building solid Institutions and National Development and Growth!
      “Air Canada challenges Onex takeover of WestJet as ‘not Canadian’! Transportation watchdog asked to probe if deal is 51% owned and controlled by Canadians! “https://business.financialpost.com/transportation/airlines/air-canada-challenges-onexs-takeover-of-rival-westjet

      “Air Canada’s purchase of Air Transat wins Quebec court approval! The airline says the Superior Court of Quebec has granted a final order approving the takeover following approval by shareholders last week. The deal is still subject to regulatory approvals and other closing conditions. The takeover will narrow the field of airline competition, securing for Air Canada about 60 per cent of the Canadian transatlantic market and helping the company maintain a firm hold on Montreal air travel.”

      “It is the (critic’s) task to determine to what extent the myths of society are represented as being central to or marginal to society. This means that any textual analysis must involve the concrete realities of lived experiences, thus making historical experiences a key element in (Analysis).” – Dr. Molefi Asante!

  9. Harold Lovell …Please stop sucking on straws. Our Prime Minister is a DOER and You are a DOUBTER. I watched YOU in the ceremony of the Five Island Campus today and You were looking very UNCOMFORTABLE. The UPP is FINISHED . The ABLP will run our Island for at least 28 years. Harold Lovell, Gisel Isaac and others of the UPP,Movement and DNA will have no part in Antigua Politics. The World Boss is a DOER. Antigua is on the Move. Proud Antiguan.

    • Did you hear what Sir Hilary Beckles had to say about the naysayers who spoke about “watered down”? I wonder if the HATER who calls herself a UWI alumnus was in attendance after spouting her diatribe on Darren’s show.

      LONG LIVE THE VISION OF AN ECONOMIC POWERHOUSE!!! LONG LIVE ANTIGUA & BARBUDA. GOD BLESS.

  10. The same Harold had so much to say when the PM stood up for Antigua and Barbuda against Sandals Butch Stuart. And when the PM told the IMF to get off. Its a good thing this guy Lovell is not our Prime Minister cause he would have sold us long time. he has no balls whatsoever.

  11. Ahmm, did somebody say something? I thought I heard a murmur. Oh! It’s Lovell? Chupps. He still chatting? He’s so irrelevant I didn’t even remember he still exist. I won’t even bother to comment on anything he says. The PM done say what he said, now let’s watch and see what Scotia Bank does. It’s their move now. And as in the game of draught, any wrong move and the PM will eat them. And if they fail to move? He will huff them for not moving (lol). Watch and learn from the World Boss because some y’all nar listen. What happen with Digicel and the spectrum? Lime coming onboard soon too. Mark the PM words. He don’t speak with water in his mouth. Love him or hate him, a fu you business. Me garn.

  12. Poor Lovell must be desperate for a little publicity. What happen to this guy? We all know the people rejected him so many times already, and just kick him to the curb, again and again. Can’t he undrstand the will of the people. Harry is history now. The nation thanks you for trying, but you finish now. The PM is a true patriot who always puts Antigua first. Scotia is finding out they are dealing with the voice of the people, and they getting worried. They should be. Harry just trying to stir the pot, but without wisdom. You finish. You will get a footnote in the history of Antigua, but this is a new time now. This is the New Antigua. The People have spoken. Medford kicked this guy to the curb. The vote of the People is to be respected. Power now is in the hands of the People and the People’s Government. The policy of our PM is always “ANTIGUA FIRST”. The future look bright. Full steam ahead….

  13. Mr Lovell you are damned of you do and you are damned if you don’t.

    Take your pick Mr Lovell lucky for you the result will be the same.

  14. Harry ma boi you still have not given up on your dream to become Antigua’s next PM. Lol🤣🤣🤣🤣🤣. Please Harry retire gracefully cause we all know if u in power Scotia woulda done sell like how u min dey when Royal bank buy out RBTT.

  15. <<<<<<<<<<<UPP Political leader, It's a good thing it is not Hon. Political Leader. Get a seat and then chat. "He risks for example people deciding that they don’t know what is going to happen so they are going to go for their money"…… that's the best [and] people say you are a good lawyer? If they decide they want to treat A&B customers like that then why those who have accounts move them to a bank that they feel more comfortable? Looks like politics make some people hate their own just to TRY score political mileage.

    • Well said. “Looks like politics make some people hate their own just to TRY score political mileage”.

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