Home' Trinidad and Tobago Guardian : March 30th 2014 Contents A27
• Twitter: @GuardianTT • Web: guardian.co.tt
MADRID---Spain's inflation rate dipped into negative
territory this month, official data showed, a
development likely to add pressure on the European
Central Bank to ease its monetary policies.
The National Statistics Institute said consumer
prices in the eurozone's fourth-largest economy fell
0.2 per cent in March compared with a year earlier.
Falling prices, or deflation, can be a risk if they are
protracted. Deflation can choke off growth as
consumers and businesses delay purchases in hopes
of getting better bargains down the line, and can be
very difficult to get out of.
The ECB aims to keep inflation just below two
percent, but the 18-country currency zone's rate was
only 0.7 per cent in February, revised downward last
week from an initial estimate of 0.8 per cent. Figures
for March are due Monday, and the Spanish dip could
contribute to a drop, analysts say.
Belgian's statistics agency on Friday also reported a
lower annualised March inflation rate of 0.9 per cent,
compared with one per cent a month earlier. (AP)
Spain falls into deflation, upping pressure on ECB
As the city of Port-of-Spain pre-
pares to celebrate its 100th anniver-
sary with a month of activities in
June, the authorities are grappling
with issues such as crime, vagrancy,
lack of residents, abandoned lots and
These issues are now challenging
the city s development.
In a one-on-one interview with the
Sunday Guardian, recently-installed
mayor Raymond Tim Kee said there
was a certain level of "unattractiveness"
in the city and while former mayor
Louis Lee Sing still sees beauty in the
city, he feels it remains largely
While both men may appear to be
polar opposites---one taking a no-non-
sense approach, voicing it as he sees
it; the other measuring his words and
actions---the issues raised with respect
to what is needed to make "PoS smile
again" were the same. Curbing crime,
returning residents to the city and cre-
ating a mall-like atmosphere within
the capital could all help return the
city to its former glory, both men said.
Both Tim Kee and Lee Sing agreed
that one of the major challenges facing
the city is the lack of residents.
"As you will probably realise, Port-
of-Spain, which was very much pop-
ulated with residents, is not very much
like that anymore and the reasons are
obvious. One of the things that would
deter people from wanting to stay in
Port-of-Spain is the fact that we are
in a situation where there is a kind of
behaviour that is really unacceptable,"
he said, explaining that many people
may fear about their children growing
up in the city these days.
"While it may look like it is an ava-
lanche of people moving out of the
city, that did not start now," he said.
Tim Kee said everyone now has
exposure to higher education and the
more educated the person is, the more
the individual is able to analyse and
have options. He said the people of
today and even yesterday prefer to go
out of Port-of-Spain.
Crime, Tim Kee said, was a major
impediment to people moving into the
He said one needed to look at the
public--private partnerships for an
injection of funds into the city and the
central government should look at
incentives so that "business people are
encouraged to invest in the capital city."
He said to revitalise the city one had
to look at the re-establishment of "big
establishments/big stores" within the
"In the old days you had some huge
stores. Now you have several small
ones and the city does not look like
what a real city looks like. All the big
department stores and so on are things
we have to encourage back into Port-
of-Spain," he said.
But what is needed to bring people
back to Port-of-Spain? Lee Sing sug-
gested the construction of 30-storey
buildings, part of which would house
apartments for people. He also sug-
gested the overall "sprucing up" of the
city. He suggested, as well, placing
kiosks along Frederick Street and hav-
ing outdoor restaurants.
The big establishments, Tim Kee
said, required pedestrian traffic, which
would generate returns on the invest-
ments made in the large establish-
On the issue of vagrancy in Port-
of-Spain, Tim Kee said he was working
with recently-returned businessman
Anthony Salloum to address the prob-
lem and would be looking at acquiring
land and constructing a space in which
to house the displaced. He described
current accommodations as "inhu-
Mayor Tim Kee to Govt:
Bring back 'big stores'
into the city of PoS
City improvement suggestions:
Build apartments to attract
Bring in big stores
Kiosks along Frederick Street
House the homeless
Port-of-Spain mayor Richard Tim Kee during an interview at his office at City Hall on Thursday.
PHOTO: ROBERTO CODALLO
one of several
Links Archive March 29th 2014 March 31st 2014 Navigation Previous Page Next Page