Jersey in Trouble

CFM (UK) Ltd News Update: The Guardian carries a feature on the changing face of Jersey's offshore finance industry. In 2007, the island held almost £220bn of deposits, and administered another £221bn of funds, as well as hundreds of billions in trusts. And the finance sector's profits in 2007 were more than £1bn. However, in June officials announced that Jersey’s annual deficit had been revised upwards to £145m, with the island apparently heading toward bankruptcy.

The Guardian, Page: 31-33

Posted on December 11th 2015

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