UK Abandons Gibraltar By Not Opposing EU In Finance Centre Crisis

Iberia News

23 August 2001

This story is reproduced by kind permission of Iberia News at: http://www.iberianews.com

In comments by the Chief Minister, Peter Caruana, on local radio yesterday, it has been indicated that the UK has already stated that it will not oppose the EU's policy over exempt companies, although it has also stated it will not intervene.

The UK's position was described by the Chief Minister as being unfortunate, indicating some political sympathy for the EU's action, therefore not defending Gibraltar's rights in full.

The UK's lack of support is seen as a clear indication that the UK will not be helping Gibraltar to defend the finance centre, with experts highlighting that the UK's inaction is a clear indication that it is looking after its own interests in the UK with its own finance centres.

The opposition earlier today asked for the Chief Minister to state what the UK's position over the investigation into exempt companies was, stating that there were clear signs that the UK did not support Gibraltar's position and would not be acting in favour of Gibraltar even though it was the competent authority and was obliged to defend the interests of the Gibraltarian as the colonial power.

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