IoM Delegation Attends Liechtenstein Financial Conference
Treasury Minister Allan Bell MHK has this week joined in high-level discussions
on the future of financial centres with senior banking, regulatory and political
representatives from all over Europe.
Bell was among around 100 delegates invited to the annual Liechtenstein Dialogue,
a prestigious forum that brings together decision-makers from such leading financial
centres as Switzerland, Germany, Luxemburg, and the United Kingdom. Among the
distinguished guest speakers was Angela Knight of the British Bankers’
Association; Franz-Hermann Bruner, Director General of the European Anti-Fraud
Office (OLAF); Beat Bernet, Managing Director of the Swiss Institute for Banking
and Finance; and Guido Westerwelle, Chairman of the Free Democratic Party of
Germany. Reflecting on the value of the conference, Minister Bell said: "This year, the Dialogue focussed on identifying promising business and
products for financial centres and discussed the regulatory and government action
needed to make such innovations work." "I was pleased that I could bring to the discussion the Isle of Man’s
experiences in several relevant areas. The strength of the cooperation between
government and business is one of the keys to the Isle of Man’s success
– success that has seen 24 years of continuing growth giving us a per
capita GDP that is more than 25% higher than in the 15 countries that until
2004 constituted the European Union." During the two-day conference in Vaduz, the principality’s capital, Minister
Bell held private meetings with Prince Alois, Liechtenstein’s Head of
State and Prime Minister Otmar Hasler, in which they discussed their nations’
aspirations for the future and the external issues that each faces. Minister Bell explained: "The Island is a well-regulated financial centre with a diverse and expanding
economy and stable political environment. However we must remain alert to international
developments. I am grateful Prince Alois and Prime Minister Hasler made the
time to discuss with me areas of mutual interest. It is a guiding principle
of the Dialogue that in today’s global economy institutions and governments
need to meet and share their knowledge and experience." .
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