From John Fox.
I HAVE to ask the following questions: If our government is now going to guarantee all bank deposits in the Island if the banks fail, where do they keep our money (£600 million)?
Is it in the bank of Jersey not affected by world markets? Is it invested through a bank that may collapse? How much is it worth now the world markets have dropped? Is that money guaranteed by some other institution to Jersey?
By worldwide comparison Jersey’s £600 million does not seem much to £200 billion on deposit in the Island.
Presumably if the banks fail, and there’s no guarantee they will not, Jersey’s States’ money is no safer than mine in a local bank.
Somehow I can’t see the EU or the UK assisting. Maybe I have missed something in the JEP.
Chemin des Signaux,