Work together on tax haven tag — Swiss ambassador ¬ª News ¬ª This Is Guernsey.

As the Guernsey Press notes:

GUERNSEY and Switzerland can work together to break down the perception they are tax havens, according to the Swiss ambassador to the UK.

His Excellency Mr Alexis Lautenberg was in the island yesterday to meet the chief minister, Bailiff and finance industry representatives.

Mr Lautenberg said the economic crisis had put the spotlight on all types of financial regulation, including tax evasion, which led to jurisdictions such as Guernsey and Switzerland coming under pressure.

‘It’s an issue of perception rather than of facts. We are trying to discuss these issues and defend our respective positions. Both are extremely well regulated and doing everything needed to keep the places well run and tidy.’

I guess the prize for being deluded has to go to Switzerland for putting forward the idea in the first place.

But Guernsey come a close second for believing it.

These two are secrecy jurisdictions: places that intentionally create regulation for the primary benefit and use of those not resident in their geographical domain where that regulation is designed to undermine the legislation or regulation of another jurisdiction and where to facilitate its use secrecy jurisdictions also create a deliberate, legally backed veil of secrecy that ensures that those from outside the jurisdiction making use of its regulation cannot be identified to be doing so.

As such both deliberately promote tax evasion in other countries whilst claiming they are well regulated in their own domain - a fact which is meaningless given the trade they promote.

And both are stupid enough to think that this sort of story might convince the world they're really whiter than white.

Which is why I say they're suffering from delusions.