Speaking at a recent lunch hosted by the Jersey Hospitality Association, Jersey Finance chief, Phil Austin suggested that the jurisdiction could benefit from joining the European Union at some point in the future.
According to the Jersey Evening Post, which covered the event, Mr Austin was responding to remarks made by JHA chief executive, Gerald Fletcher, who bemoaned the amount of EU aid for development currently afforded to member states such as Ireland.
Drawing attention to the similarities between the tourism and finance industries, Mr Austin observed that the Island is in a difficult position, sandwiched between the UK and Europe:
'At the moment we have to take the directions without any of the advantages. If you talk to people in the finance industry, for instance fund managers, some would want to join the EU,' the JEP quoted the Jersey Finance chief as observing.
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