Effect on Financial Islands if this one goes down...!!!

  • Alan Mauritius
  • 03/11/08 31/05/09
  • a depositor
  • Offline
Posted: Tue, 04/11/2008 - 07:50

As a couple who only found out about our 'deposits going off air' on Saturday 1st Nov (we live in Mauritius), I had this bit of advice from a banking friend in Mauritius, which I would like to share:

At this stage, you’ve done the right thing:

  •    Joined the action group
    
  •    Written to the banks
    

Whilst the eventual outcome is uncertain, I would like to think most/all of depositors will be paid. The UK offshore banking centres + the local governments – Jersey/IOM/Guernsey - are at considerable risk if depositors are not paid. Who will invest there in future? Jobs are at risk if incoming money dries up. So, the local authorities also have a major interest in seeing all is OK.

Short term your action group is pressuring all those it can, so main thing is to keep in close contact with group.

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