AS THE extent of the potential personal and financial tragedy implicit in the Landsbanki affair becomes clearer - and more horrifying - it is understandable that those who believe they have lost a lifetime’s savings want someone to blame.
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Rescue does not remove all doubts
October 9, 2008 – 2:00 pm
WHEN your life savings – or, worse, those of your parents – are invested in a finance centre where the regulator has assured you that its primary objective is to regulate and supervise financial services with integrity and efficiency and in so doing help to uphold its international reputation, external events pale into insignificance.
A feeling of failure as bank falters
October 8, 2008 – 2:15 pm
AS ISLANDERS awoke yesterday, the unthinkable had happened: one of Guernsey’s 49 registered banks was unable to give customers back their money.
Applauding an amazing rescue feat
October 7, 2008 – 2:29 pm
READ between the lines and it is clear that the weekend rescue of sail training vessel Alva was something quite out of the ordinary and it was down to the skill and bravery of a number of people that an incident did not escalate into a tragedy.
Bank crisis reveals gap in powers
October 6, 2008 – 2:37 pm
WEEKEND headlines - including those about the emergency summit of European Union leaders on the global financial crisis and Iceland’s economy, said to be on the brink of collapse - reinforced the seriousness of the Policy Council announcement on Friday about maintaining confidence in the local banking sector and addressing the concerns of local depositors.
No room for knee-jerk protection
October 4, 2008 – 9:52 am
AN ANNOUNCEMENT yesterday that the Policy Council had agreed to ‘a measured course of action which will maintain confidence in the local banking sector and address the concerns of local depositors’ will be followed by an immediate question from islanders: What, by doing nothing?
Conference call: ‘could do better’
October 3, 2008 – 2:30 pm
CONFIRMATION from the Commerce and Employment minister that her board is, indeed, treating the introduction of some form of protection of depositors scheme as a priority is a welcome development - and it also marks a considerable policy shift.
Living in strange times
October 2, 2008 – 2:29 pm
CHANNEL Islands Stock Exchange chief executive Tammy Menteshvili was spot on in her comments published yesterday that we are living in unprecedented times and that history is being rewritten.
Meltdown poses hard question
October 1, 2008 – 2:30 pm
NEARLY 300 staff at Fortis had only to look at yesterday’s headlines – the Daily Telegraph’s Staring into the Abyss was typical – to see how fortunate they were that a £9bn rescue package had secured their jobs and future.
Glimmers of hope in the gloom
WITH politicians in both Jersey and Guernsey reacting sharply to claim and counterclaim about Landsbanki Guernsey’s adequacy as an institution, it is clear that both jurisdictions are acutely aware of the reputational damage that the affair could do the Channel Islands as a whole.