And while the union is threatening to break up everybody's tea party with this latest action in the court - the union itself may end up without an invitation to its own party. The union can't find the money to buy 37% of BTL's shareholding and today union leaders Paul and Christine Perriot told us it's not for want of trying.
Paul Perriot, BCWU President
"Today we got a response from them and the response was a open-close response. Wednesday's meeting looked pretty good and today we just got a response that they cannot do anything that they cannot assist with the funding. They are saying that we presented did not look good to them but I must say that since we tried buying the shares, or getting possession of funds for shares, we have been hitting closed doors from all institutions, but it points back to what is actually happening in Belize. If you watch the news you know how Belize's foreign currency is and you know most investors don't want to invest in Belize anymore, the creditworthiness of Belize on a whole looks bad in the international market."
Christine Perriot, BCWU Secretary
"The Capital Markets people said it themselves, the main reason they can't go with our option, even though it looks viable, is the country's creditworthiness. So BTL has the ability to pay for the loan, we have shown it, we have demonstrated it, but because of the country's credibility they are not going to give it you; they don't want to give it to you, that is quote unquote their words. The creditworthiness of the country is the main reason why they are not giving us. If it is not that then it could only be that somebody else is blocking the whole deal. But that is like saying you can be a rich Belizean, you be a millionaire Belizean, and you can't even buy one simple house in the USA; it all boils down to foreign money, green money. You can have all of it in Belize dollars but if you can't get it from outside and if you can't buy in the foreign markets then it means nothing."
Paul Perriot,
"What we presented to them was viable but I think the Capital Markets...maybe if we're not alluding to some other behind the scene holdback on their side, being that they are close to the government we don't know what is happening on their side. I think what they are saying is they just want their money, in a point blank way they just want their money and they want to get out of this market and its difficult. The Finance and Audit Bill that just got passed actually gives the government the right to give the guarantees but it must go to the House of Representatives so I think now what we have to do is again go in that direction because as you know its not something we give up easily on. What we've been asking for is something for Belize on a whole, even assisting with the same foreign reserves that we've had in Belize so far, so we will be continuing on that road. It is not something that because of this we will just stop, we don't intend to stop none at all."
