TELECOMS boss Eddie Saints is ready for any credit crunch problems in Guernsey because he’s dealt with it before in his old home of Bermuda.

The Cable & Wireless chief (pictured) said the north Atlantic island had been rocked by the slump and he would draw on his experiences if need be.

‘The credit crunch has had an effect in Bermuda because of the island’s large insurance industry and its proximity to North America.  Businesses are cutting back services and relocating to other parts of the world, suggesting that there are challenging times ahead for all small offshore jurisdictions.

‘It’s an interesting time. The Channel Islands have not yet been hit, but if the downturn continues it’s only a matter time before the markets feel the impact here. Guernsey’s finance industry may be focused more on funds and therefore more resilient, but there’s no escaping the fact that it will happen eventually.’

Mr Saints has recently become Cable & Wireless chief executive for the Channel Islands, the Isle of Man and Bermuda.