AN EXTRACT FROM THE ISLE OF MAN INQUIRY

29 January 2010 

Mr Watterson is questioning Mr Alan Bell, the Isle of man Treasury Minister.

 

 “How are relations with the MOJ” inquired Mr Watterson.

“Very good” replied Mr Bell.

“And the relations between IOM Treasury and UK Treasury”; to which Mr Bell responded: “Interesting”.

Mr Watterson wondered if Mr Bell would like to expand on his comment; to which Mr Bell replied: “Not on the record”.

When pressed further Mr Bell appeared almost as an apologist for the UK Treasury, stating they had been protecting the UK interests and if there had been any “secondary interests” they had been “trampled on”; and effectively became “collateral damage”.

Mr Watterson put to Mr Bell the UK Treasury had said they would represent the IOM’s interests in negotiations with Iceland and wondered if he was satisfied with the “voracity of their representation”.

Mr Bell said it was made clear under the terms of the constitutional relationship the IOM couldn’t negotiate directly with Iceland, so although, ultimately, the UK Treasury did agree to make representations he didn’t sense any urgency on their part. In his view the UK Treasury had been very robust in protecting the interests of the UK but not the IOM’s. In fact he confirmed, in reply to a follow up question, he had seen no evidence at all of the IOM’s interests being represented.

Exploring the issue of direct negations further, Mr Bell said he thought the UK would have washed their hands of the IOM if they had tried.

Mr Watterson put it to Mr Bell the reality is the UK washed its hands of us and kept the IOM quiet at the same time.

“You could say that” came back Mr Bell.

COMMENT:

The above extract clearly shows the way the UK Treasury were treating the Isle of Man and there is no reason to suppose that they were treating Guernsey any different. Guernsey’s Chief Minister was has not produced anything to show that influence was exerted on Iceland by UK Treasury at all, and for all his blustering since the Administration of Landsbanki Guernsey, he has achieved absolutely nothing.

It is interesting to see that the Isle of man formed a Committee after KSF IOM was liquidated to see what could be done. In Guernsey the Chief Minister took it on himself and failed to keep the States informed properly. Only when pressurized by the Landsbanki depositors did he make any statements, non of which had any constructive content. Even his eventual visit to Iceland in August 2009, was forced upon him by the building criticism of him apparently doing nothing.

IT MUST BY NOW APPEAR OBVIOUS TO THE READER AS TO WHY A PUBLIC INQUIRY IS DEMANDED BY THE LANDSBANKI GUERNSEY DEPOSITORS