Policy Council Press release Monday 10th August 2009

CHIEF Minister Lyndon Trott returned to Guernsey yesterday morning from a two-and-a-half day schedule of meetings in Reykjavik.

The Chief Minister was accompanied by States of Guernsey Chief Executive Mike Brown and Professor Alastair Sutton from Brussels. Professor Sutton, who is the Policy Council’s adviser on EU and EEA matters, is also a Professor of Law at Reykjavik.

The schedule included meetings with:

• Steingrimur J Sigifisson, Minister of Finance  

• The Director General for External Trade and Economic Affairs    

• The Permanent Secretary, Ministry of Business Affairs

• The Director General of the Financial Supervisory Authority (FME)

• The Permanent Secretary to the Finance Ministry

• The Resolution Committee for Landsbanki Islands HF

• The Managing Director of the Winding-Up Board of Landsbanki Islands HF

• The Dean of the Law Faculty, Reykjavik University

The object of the meetings was to support the Court-appointed Administrators of Landsbanki Guernsey Ltd by meeting key decision-makers in Iceland and imposing upon them that there must be no discrimination to the detriment of Landsbanki Guernsey Ltd as the winding-up process of Landsbanki Islands HF proceeds.

The Chief Minister said:

‘We dealt with the issues of fairness and equality in a robust but diplomatic way. All meetings were cordial and constructive with understanding for the position of Guernsey as an island jurisdiction. We received assurances that full regard would be given to all the points raised.

‘The distinction between the responsibilities of the Court-appointed Administrator and the Government of Guernsey is understood by all those we met.’

The detailed discussions will serve as a basis for further dialogue with the Administrator of Landsbanki Guernsey Ltd.



 Comment from website:

I think a cautious welcome is the maximum we can afford the Chief Minister at present after his last ten months of apparent total inaction He appears to have been spurred into action, I have no doubt by the recent pressure being applied to him buy the LGDAG, who have more or less proved that, whilst protesting that he is working tirelessly behind the scenes, has in fact been doing very little.

The Policy Council's release above is nothing more than window dressing, but we would hope that the Chief Minister's visit to Iceland was not totally in vain, although the Guernsey press cartoonist has placed a parody on it with his depiction of the Chief Minister as "Super Trott", refusing Deputy David DeLisle permission to accompany him

The Policy Council release is for Public consumption, a list of meetings with Director Generals and Permanent Secretaries looks impressive, but no names and possibly little substance. The number of adjectives used in one paragraphe to describe the way he dealt with issues says absolutly nothing and they are adjectives used in most of policy Council Press releases to describe how the Chief Minister deals with people whilst on foreign trips.

Has the trip done any good for the Landsbanki Guernsey Depositors? probably not, but it has allowed an opening for the Chief Minister which we all hope he will not let slip awayfrom him and use his new found friends for the good of Landsbanki Guernsey depositors, whenever possible.

All it needs now is for him to have his long overdue meeting with  the Landsbanki Depositors, promised since his interruption of Radio Guernsey last February, put them completly in the picture as regards his visit to iceland, be open, honest and transparent, because there can't have been much on the Icelandic agenda that was confidential, and he may be able to start building some trust back, which sadly lacks at present.