Report backs UK’s bank stance
Tuesday 7th April 2009, 1:00PM BST.
Deputy Trott speaks at the Treasury Select Committee meeting on the banking crisis in February this year.
CHIEF MINISTER Lyndon Trott has welcomed the findings of the UK Treasury Select Committee’s investigation into the impact of the failure of the Icelandic banks.
The report confirmed the UK Government’s ‘overarching principle’ that it cannot provide cover for deposits held by British citizens in jurisdictions outside its direct control such as Guernsey.
The committee acknowledged the severe distress of those suffering due to the Icelandic banking failure, but recommended that the UK authorities continue to work with the States to try to resolve these issues.
So far, savers with collapsed Landsbanki Guernsey have received 30% of their money back from administrators.
Deputy Trott, who appeared before the committee in February, said: ‘It was very important for us to be able to give evidence and I believe that the facts we were able to provide helped the authors of this report.’
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Worthwhile readers reading the Selects Committee transcript.
Then you can decide for yourself just how appropriate the comment‘It was very important for us to be able to give evidence and I believe that the facts we were able to provide helped the authors of this report.’is.
The Select Committee offered nothing at all of help to Guernsey, so how it can be dressed up as a success is baffling.
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If a loan of the dimension that CM wants will be the end of Guernsey as an Island We know.
It will become another Bankruptcy to the English Banks:
They then will decide how our Island will be run, And it will not be pleasant
In the year 500 they did it to Britain, then Scotland Ireland and all other countries. in their Empire- Bled them dry, then left– leaving great shells without any fruit inside.
These States of today must be the worst ever; and we’ve had some bad ones.
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CHIEF MINISTER Lyndon Trott YET AGAIN ATTEMPTS TO PLACE BLAME ELSEWHERE.
Disgusting!
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