UN General Assembly
2009

In this regard, the targeting of small offshore jurisdictions in the wake of the global financial crisis on the pretext that these jurisdictions in some way contributed to the crisis represents an injustice worthy of the strongest possible condemnation. For those who would wish to rewrite history, we must recall that the financial crisis had its origins in the developed world and resulted from excessive risk-taking, corruption, fraud and ineffective regulatory controls and oversight in those countries. Barbados fully supports the proposal of the States members of the Caribbean Community (CARICOM) to build upon the existing programme already in place within the United Nations to address issues related to international financial services. Specifically, we call for the Committee of Experts on International Cooperation on Tax Matters to be transformed into an intergovernmental subsidiary body of the Economic and Social Council. The central goal of the proposed intergovernmental committee would be to give developing countries an effective voice when issues of cooperation on tax matters are being decided by the international community. Small democratic States like my own are