OVER THE YEARS Senator Ozouf and Jersey Finance have constantly told us that Jersey is part of the global scene, that we are an international finance centre par excellence and that we punch more than our weight on the world stage.
Yet overnight, we are not that at all. According to Senator Ozouf "islanders need not be concerned about the local economy and local public finances" because of the financial crisis that is sweeping the world. How can the problems of the US allied to the Eurozone disaster that have caused share markets around the world to plummet wiping billions off the value of world shares and causing a massive rise in the gold price- now up to $1650 an ounce- not be the cause for huge concern for an international finance centre whose main industry is finance and whose business is global and international
Senator Ozouf's pronouncements about the likely effect on Jersey puts him in cloud-cuckoo land. He appears to have lived much of his political life in this place for readers will remember when he broke his solemn commitment not to increase GST, he claimed that at that time he could not possibly have known the likely effect on Jersey's economy of the then financial crisis gripping the world..
He was clearly sleepwalking through life then for when he delivered this promise, Lehman Brothers had collapsed, Northern Rock, HBOS and, RBS had been bailed out for multi-millions and Gordon Brown had declared that the "world's financial institutions are in meltdown"
His inability to understand the seriousness of the threat to Jersey's economic future is very, very scary.
Yet overnight, we are not that at all. According to Senator Ozouf "islanders need not be concerned about the local economy and local public finances" because of the financial crisis that is sweeping the world. How can the problems of the US allied to the Eurozone disaster that have caused share markets around the world to plummet wiping billions off the value of world shares and causing a massive rise in the gold price- now up to $1650 an ounce- not be the cause for huge concern for an international finance centre whose main industry is finance and whose business is global and international
Senator Ozouf's pronouncements about the likely effect on Jersey puts him in cloud-cuckoo land. He appears to have lived much of his political life in this place for readers will remember when he broke his solemn commitment not to increase GST, he claimed that at that time he could not possibly have known the likely effect on Jersey's economy of the then financial crisis gripping the world..
He was clearly sleepwalking through life then for when he delivered this promise, Lehman Brothers had collapsed, Northern Rock, HBOS and, RBS had been bailed out for multi-millions and Gordon Brown had declared that the "world's financial institutions are in meltdown"
His inability to understand the seriousness of the threat to Jersey's economic future is very, very scary.
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