Euro Bank's Shame is Britain's Blame
The elected Executive Council (ExCo), members of the United Democratic Party (UDP), the People's Progressive Movement (PPM) and the people of the Cayman Islands must all be commended for the robust position which they have taken with respect to the collapse of the Euro Bank trial.
In the face of adversity which was brought on by the trial's controversial collapse, the Cayman Islands' head is bloody but unbowed.
The entire country has closed ranks and presented an impressively strong and unified front to the world regarding how it intends to deal with this matter.
From the ordinary person in the street to those who occupy the highest offices, the sentiments about the consequences of this debacle of a prosecution have been the same.
We wholeheartedly support the view expressed by the elected members of ExCo, that Attorney General Mr. David Ballantyne's appointment should be terminated and that Mr. Brian Gibbs' appointment as Director of the Financial Reporting Unit (FRU) should be revoked.
Given the stunning outcome of the case, this course of action was absolutely inevitable.
As we have stated previously, despite the fact that justice took its course and was very well-served in the trial, there were certain astounding events in the case which could undermine the credibility of the Cayman Islands and some of its institutions.
The collateral damage from the collapse of the Euro Bank case has not yet been assessed and, in fact, may not be known for some time yet.
It is however certain that somewhere in the rubble and the unholy mess which this case has left, observers will find a bruised and fractured relationship between the United Kingdom (UK) and the Cayman Islands.
There can be no doubt that the UK, despite the Cayman Islands being its dependent, overstepped its boundaries and exceeded the four corners of propriety through its special agents and certain other people.
Coming on the heels of its attitude towards this country with respect to the European Union's Draft Initiative of the Taxation of Savings Initiative, the relationship between "Mother" and sibling needs to be revisited, reexamined and reviewed.
Indeed, it may cause many to conclude that the present state of affairs presents reasons why this country should pursue a firm date for self-determination
For there is absolutely no way that the UK, who stage-managed this melodramatic legal flop, could have had the Cayman Islands' interest at heart.
We are bold enough to say that they not only owe this country a public apology, but that they should be called upon to pay what will surely be the astronomical costs of this trial and its associated expenses.
The Elected Members of ExCo have already made this request in official correspondence to the Governor. We concur with their position.
We are satisfied that the Government is on the right path in the requests which it has made to the Governor by letter.
One of the sternest tests in life is the ability to turn adversity into good fortune.
And so, what this elected Government must now do in earnest, is take the necessary steps to ensure a fiasco such as the Euro Bank collapse never, ever occurs in the Cayman Islands again.