When discussing the history of mankind, Mao Tse Tung observed:
"Man has constantly to sum up experience and go on
discovering, inventing, creating and advancing. Ideas of
stagnation, pessimism, inertia and complacency are all wrong. They
are wrong because they agree neither with the historical facts of
social development over the past million years, nor with the
historical facts of nature..." The past 12 months have served
as a period of time in which to reflect on and deal with the
consequences of the global financial crisis. This article intends
to cover any discernable trends for Guernsey which have evolved
during that period.
A positive note was sounded in March 2010 by Michael Foot,
author of the report commissioned by HM Treasury into British Crown
Dependencies and overseas territories published in October 2009. He
recognised that whilst the global financial crisis had resulted in
greater scrutiny of so called 'offshore centres'. Guernsey
specifically had
