When the Caribbean Community and Common Market (CARICOM) wasestablished by the Treaty of Chaguaramas on 4 July 1973 it was envisagedthat a single trading bloc would be in operation by 1993. In July 1989,during a summit of CARICOM heads of state in Grenada, the Grand AnseDeclaration was made, which set down the mandate for the creation of asingle market, with the ultimate goal of a single currency. Unfortunately, 11years later, a Caribbean single market and economy very much remains apipe dream