Credit crisis is top of agenda at CPA meeting
Tuesday 16th June 2009, 2:33PM BST.
A TOP-LEVEL meeting on the economic downturn that will include discussion on holding the financial service industry to account begins at the Royal Court building today.
The 40th annual Commonwealth Parliamentary Association regional conference will feature speakers including the Rt Hon. John Redwood MP, who once contested the Conservative Party leadership, and Professor Patrick Milford, a former adviser to Margaret Thatcher.
Some 70 delegates will spend today and tomorrow in the States Chamber discussing the global financial crisis.
Visitors are principally from the British and Mediterranean regions, though some from the broader Commonwealth including India, Canada and Jamaica will also be involved.
In a brief opening address, CPA Guernsey branch chairman Deputy Bernard Flouquet said there was no better illustration of today’s fast changing world than the credit crisis.
‘While I’m sure we will achieve remarkable things during the coming week, the credit crisis will still be here when we leave,’ he said.
Other delegates include the UK’s first woman sports minister, Kate Hoey MP, who held the post between 1999 and 2001. Outgoing HM Procureur Nik van Leuven will undertake one of his first public duties as director general of the Guernsey Financial Services Commission.
Chief Minister Lyndon Trott will chair the proceedings in the first session today.
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What a wonderful display of modesty from our esteemed DCM.
So he’s sure that “remarkable things” will be achieved this week is he? I wonder if he, or indeed anybody else, could enlighten us as to what these “remarkable things” may be.
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Phil asks if Bernard Floquet can enlighten us about what remarkable things may be.
Phil. Your not supposed to ask questions like this that show just good politicians are at making daft statements, that to those who don’t think sound good.(LOL)
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Who heads up the Commonwealth Paliamentary Assoc. over here? Now thats ironic, or does everyone have short memories?
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What is remarkable is that this conference on holding the financial industry to account is happening in the only country not to hold itself accountable for a failed financial institution – namely Landsbanki Guernsey
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Perhaps our esteemed deputy refers to how he will explain his enjoyment of ‘Golliwog’ jokes and how Guernsey politicians allowed him to keep his job and then represent them to our Commonwealth friends……….REMARKABLE!!
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Now I like a powerful politician as much as the next lady but:-
“Rt Hon. John Redwood MP, who ONCE contested the Conservative Party leadership”
“Professor Patrick Milford, a FORMER adviser to Margaret Thatcher.”
“UK’s first woman sports minister, Kate Hoey MP, who held the post between 1999 and 2001.”
Sounds like a load of old has-beens to me.
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A meeting of the Commonwealth Parliamentary Association is just what the world needs to sort out this credit crisis once and for all.
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Mrs P – in John Redwood’s case, a “never has been” is more appropriate.
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It is ironic butI believe that one of the beneficial things to come out of this conference is the sympathetic publicity being generated by and for the Landsbanki Action Group on the back of this event.
International interest in Guernsey’s shabby lack of action, is spreading. The message that the States are the only administration not to come to the aid of victims under their jurisdiction, is spreading. The message that we victims will not go away, is spreading. The message that there are safer places for your savings, is spreading….perhaps Guernsey’s repution is on the brink of being past redemption?
There is a suggestion now that the administration is trying to influence your local news media which is a good indication that someone would rather not have the press pick up on the shameful lack of action from your ‘government’.
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now i’m a bit of a cynic but i am with mrs p here (hello mrs p, i am all over your hygiene advice and i’m clean as a whistle thank you) a large meeting of people with no serious power to discuss things they can do little about on a global scale. i would’ve thought our deputies had better things to do.flouquet certainly does, he should be looking into a more sensible solution for our rubbish problem rather than burning it and polluting the population. it is terrible that this awful politician is addressing poeple in the street let alone visiting politicians.i imagine nothing will change after these discussions are over, time and money will have been wasted and some politicians will have made new friends,ahh how lovely.
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Hi nikkers darling!
Great stuff, I need an excuse to see the gardener again, so I’ll let him know he helped out.
Do you think that the Jamaican delegate googled “Bernard Flouquet” before he came over?
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Just found http://www.safeoffshoreaccounts.com, seems to say it all.
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FrustratedVOTER – it says that someone has too much time on their hands.
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Interesting website you found there Frustrated VOTER – defamatory against Guernsey, but interesting.
Looks to me like it has been put together by a disgruntled Landsbanki depositor (although I note there is no mention of the publisher anywhere on the website).
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Patrick Minford not Milford!
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I thought maybe it was from a Kaupthing Isle of Man depositor, a large number of the newspaper links are IoM stories as are all the youtube videos. Possibly by someone with money in both, although it does cover banking in Jersey too.
Anyway, doesn’t seem like they made anything up, the Guernsey bits look right to me, and everything is backed with lots of references….
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CD
Exactly how is the web page indicated defamatory of Guernsey?
Is it because it sets out the fact that hardly flatter Guernsey.
Looking forward to your response as I really want to learn the reasons why the page is defamatory.
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That website is hilarious!
Whoever is behind it is hiding behind an anonymous web hosting service so they can say whatever they like and (supposedly) can’t be traced. Yet the site is full of advertising to make money off the disgruntled Landsbanki investors.
One of the ads even proclaims:-
“Tax Havens Guide 2009 Pay no tax! World’s most popular tax havens compared & explained. ”
How cynical is that?
Draw in the herd to be horrified at your shocking revelations about tax havens then make money out of them by selling them the same thing!
Want to know ‘whois’ behind it? Just follow the money. It’s always about the money. Even if they are pretending to be the good guy.
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I cannot see anything that is actually defamatory, but it is certainly based on false assumptions. It seems to say “you would normally expect offshore jursidictions to work like this, but they don’t” when actually they have never been intended to work like that. As such, most of the statement are simple statements of the bleeding obvious, phrased as if they are scandalous revelations.
At no point has Guernsey said that you can bank here in order to hide money or avoid taxes on income paid out – you cannot. At no point has Guernsey suggested that it would underwrite financial institutions.
So someone has the limited ability to write a few statements of the bleeding obvious on the internet and fill a webpage with Google ads – what exactly does it say?
“Whoo, banks are not totally safe” – they never have been, in any jursidiction, hence DCSs.
“Whoo, the UK has bailed out its banks but Guernsey hasn’t” – the UK never used to do so until the credit crunch threatened to bring everything crashing down. Remember BCCI? Those depositors were not bailed out and have had to look to the liquidator for their money. The UK only did it in recent times because it had wider reasons for doing so. The public has no prior expectation of being bailed out so where is the justification for complaint?
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TL
Bit dramatic aren’t we?
Whatever the motive the page does set out the reality of depositing with a Guernsey bank.
From a possible customer point of view that can’t be bad. Can it?
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All that has been said at this conference,has been said on BBC OR ITV.
This would have cost far less than the £100,000 spent on it.
Hope they all enjoyed the Champagne, wine and food on Wednesday at the Royal Court, and today’s banquet on Herm.
As a taxpayer, hope all this rich food and wine does not make you ill and l have to also foot your hospital bills.
Do not rush home to quickly, as we are going to loan more money, to continue the party in style.
When the taxpayer pays, our states boys like to enjoy themselves, no expense spared.
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IS THERE ONE BRAVE AND HONEST DEPUTY WHO WILL STAND UP AND PUBLICLY SAY THAT THIS JOLLY FOR MANY, IS A TOTAL WASTE OF TIME AND MONEY, I DONT EXPECT ANY REPLY, BUT I LIVE IN HOPE
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One only has to look at the neibouring Island of Jersey to see money gone wrong,Roderick Newell returns to inherit 3 million of his victims money.Beyond belief
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