Bridgetown.
Leader of the Opposition Owen Arthur says the Barbadian dream of excellence and what constituted good governance is being shattered by incompetence.
Speaking at a poltical meeting last night at the corner of Deacons Road, Arthur said the island had been humiliated by the recent downgrade by Standard & Poor's (S&P) .
"We have been reduced to junk status and someone has to be held responsible for it. In some respects, Barbados has been reduced to the laughing stock of the Carbbean", Arthur said.
The former Prime Minister said the downgrade had financial implications and if the Government had stuck to the recommendations of S&P , when it took office in January 2008, Barbados would have been on sound economic footing.
Arthur told the meeting that S&P had given his outgoing administration in 2008 a solid rating and was happy with its governance . He stated that S&P had suggested then no major policy changes but the late Prime Minister David Thompson had not adhered to the guideline.
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