BANKING OPINIONS FOR ANGUILLA... UNCONFIRMED

My fellow Anguillians.

Governments around the world have long decided, legally, to make a series of large financial interventions to support the financial stability of their banking institutions. In line with international good practice, and good governance, the Right Hon. Chief Minister and Minister of Finance, Mr. Victor F. Banks, and Government of Anguilla – with full support from the UK Government, are working to ensure that the scale and costs of the various government interventions in your indigenous banks are comprehensive and transparent.

In 2007, financial markets entered a sustained period of instability, causing difficulties for banks across the world, precipitating a global credit crisis, and a widespread economic downturn… and Anguilla, being not in a vacuum, but also a highly valued and respected global financial partner have suffered parallel and direct consequences – contrary to some Illusionist. The Anguilla government ability to service the indigenous banking community debt obligations, like many other finance ministries around the world, will take actions to:

• protect depositors in banks suffering insolvency or a severe decline in market confidence;

• maintain liquidity to allow “our” banks, whose failure would threaten the overall financial system, to pay claims and outstanding borrowings as they fell due;

• ensure that banks whose failure would threaten the overall financial system would have sufficient capital to cushion them from losses caused by further deterioration in the financial markets; and

• encourage banks to lend to creditworthy borrowers.

Your government is methodically considering recapitalization, loaning, nationalization, or introducing and offering relevant schemes such as liquidity, credit guarantee, and asset protection - to cushion your indigenous financial institutions.

In essence, you… my fellow Anguillians, can be assured that this competent AUF-Government will do what is "legal" and "just" and "right" to protect you and secure what is yours – The Caribbean Commercial Bank and The National Bank of Anguilla... because it's all about you.

We are also concerned with the irresponsible, often childish remarks, made via these social media from expected knowledgeable political pundits. Let it be clear - this AUF Government of Anguilla has at no time wish to burden you the good people of Anguilla further with any taxes, and are very much busy with your concerns, considering ways and means to lessen the burdens placed on you under the previous AUM Administration.

The Right Hon. Chief Minister, and respected Minister of Finance, Mr. Victor F. Banks, will address the nation in the not too distant future.

We thank you very much for your understanding.

By: Realist Spikenice