Cayman’s response: it’s all a cynical plot by the UK

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Reuters reports:

The UK government's move to block loans to the Cayman Islands is designed to disadvantage a competitive rivalry in financial services at a time when the UK sector itself is under threat, said the head of the islands' regulatory agency on Thursday.

"We believe there is another agenda, which seems to have more to do with the competition for financial services and concern that unreasonable tax rates in G20 countries will cause an exodus of people and financial services companies," said Anthony Travers, head of the Cayman Islands' Financial Services Authority CIFSA.

Which would appear to be a pretty perfect example of denial in the face of a home-grown crisis to me.