Quirks of history

Article Abstract:

The Channel Islands of Jersey and Guernsey and the Isle of Man are semi-independent territories of Britain with significant offshore banking industries. They are politically stable because of their links to Britain, but the British tax system is not totally applied to them. Their banking laws have, however, developed based on British laws. The British government has now restricted deposits of its citizens in these offshore banking centers, but the islands remain strong financial centers specializing in the management of investment funds.

Laws, regulations and rules, Foreign banks, Isle of Man, Channel Islands (United Kingdom)

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EC membership out, money in

Article Abstract:

Switzerland's decision toreject membership in the European Economic Area and possibly the EC may have brought more economic benefits afterall. The country's tax policy and famous bank secrecy will more likely be retained as a result of the decision. Furthermore, the collapse of the European Exchange Rate Mechanism as well as the economic difficulties faced by France, Germany, Italy and the UK, make Switzerland more attractive as a tax and bank haven.

Banking industry, Evaluation, Economic aspects, Switzerland, European Union. European Commission

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