THE review of Jersey and the Isle of Man’s zero-10 regime is, to a great degree, a win-win situation for Guernsey.

For, in the unlikely event that the delegations from the two islands are successful in persuading the EU code of conduct group of the validity of zero-10, Guernsey is as much a beneficiary as they are.

In theory, code compliance would apply equally to all three islands and Guernsey could continue with its existing tax system.

If, as is more likely, the EU apparatchiks rule against zero-10 in November, Guernsey has lost no ground by making an early virtue of its intention to change.

Indeed, it might be seen that the delegations in Brussels this week have, by openly challenging the whispered EU position on zero-10, risked alienating the code of conduct group.

At the very least, failure for Jersey and the Isle of Man in Brussels would mean that a lot of time and resources has been wasted on drawing up and presenting a credible case while Guernsey simply got on with finding a valid alternative.

Once again, it would seem, Guernsey is playing a canny game on the world stage.

Much of the credit for that approach has to go to the island’s effervescent chief minister.

Mocked by some as Globe Trotter, the chief minister has made it a personal mission to get out there and meet the people who matter.

This week that meant the Lib Dem conference and a series of high-ranking government officials.

That, as keen-eyed viewers of the BBC news at 10 will have spotted, was swiftly followed by dinner at Mansion House in London to listen to FSA chairman Lord Turner and no doubt bend the ear of the UK’s top bankers and politicians.

Today, Policy Council ministers entertain Lord McNally ‘our man in Westminster’ at dinner.

It is probably just luck of the draw that the Minister of State for Justice chose to visit the Bailiwick of Guernsey first out of the Crown Dependencies.

But it was certainly no coincidence that Deputy Trott made certain he caught up with him first in Liverpool at the Lib Dem conference.