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Recent political developments

Discussion forum for expats moving to or living in the Cayman Islands.

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Recent political developments

Post Posted: Wed Nov 14, 2012 8:26 am

I have just posted to my blog a brief summary of what I call "Cayman's political impasse", outlining our current crisis and what could (but probably won't) be done to resolve it.

If Cayman negotiates political independence from Britain, the world will lose one useful and competent Offshore financial centre. And, incidentally, a comfortable place to work for many expatriates. Our local politicians have made such a hash of managing the flood of money that comes in each year that we as a community find ourselves as insolvent as any place of our size (50,000 people) in the world. My personal conclusion is that we need two years of direct rule from London, starting a.s.a.p.


Comments welcome!


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Re: Recent political developments

Post Posted: Wed Dec 12, 2012 6:41 am

Breaking news: our Premier was arrested this morning on charges relating to corruption. "Heavy manners!" - as we say in these parts. Our Police Force is controlled by the British FCO (Foreign & Commonwealth Office, responsible for all remaining colonies), which has delayed the action for an unconscionably long time because it was already involved in a similar situation in the Turks & Caicos Islands.

How this latest development will affect our Offshore tax-haven is yet unknown. In the short run, it won't help, but it is the best thing that could happen in the long run. Britain's next step will be to suspend the local Constitution and impose direct rule from London, with decrees issued by or through our British Governor.

My next ExpatFocus Column will tackle the topic, and there are several recent posts on my personal blog about the general background.


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