The Cayman Islands Legislative Assembly voted last Friday to accept the terms of the European Savings Directive, the culmination of weeks of talks with the United Kingdom government who threatened legislative action against the jurisdiction.
Leader of Government Business McKeeva Bush urged members to vote for the motion, telling them that the Cayman no longer has a mandate to go it alone. Despite his plea however, the opposition People’s Progressive Movement (PPM) chose to abstain.
"I am not one that is normally pushed around,” observed Mr Bush of a dispute that saw the Caymans challenge the right of the EU to impose the Directive on offshore dependent territories.
He continued: “I believe that you can only push so much. In effect then, our two alternatives are that we either reject the proposal and allow the UK government to put it in to place, or we agree, take what is offered and say, 'I live to fight another day.'"
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