Having just noted the crisis that the Cayman Islands is in, I thought it worth adding a little more background on the place and the problems it causes. The following comes from the Tax Justice Network report on Cayman produced to support the Financial Secrecy Index and published on the Secrecy Jurisdictions web site.
Read more, here. It's a place in trouble.
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Excellent start to the week Mr Murphy! describing the so-called “governments” of the Crown Dependencies as being the equivalent of “local councils”.
Except that vested interest in Westminster turns a blind eye and a deaf ear to the monkey business of these “local councils”, which would have long been closed if they had attempted it on the mainland.
In reality these offshore “local councils” have been high jacked by the tax dodging business and related service industries; not a difficult achievement considering they are mostly staffed by pliable ninnies who will agree to anything in order to preserve their dubious status as “politicians”.
But politicians they certainly are with absolutely no clue on how to run an economy — but every clue on how to harbour a tax dodging industry for the benefit of a few privileged bank accounts.
May the problems facing the Cayman Isles speedily visit the Isle of Man – in buckets full!
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