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MEMBERS of the Landsbanki Guernsey Depositors Action Group will not be mounting any organised demonstrations for now, despite requests to do so from a number of depositors both in the Bailiwick and further afield.

This follows the States’ refusal to provide any form of assistance to people affected by the bank’s crash.
A number of depositors wanted to carry out a demonstration to show the anger and upset this has caused, the group said today.

A spokesman said it could not prevent individual depositors from making their own protests, either individually or collectively, but it believed the best way forward was to remain rational and calm, and continue to press the legitimacy of its case for help from the States and the UK Government.

‘The Isle of Man Government has put up £150m. towards assisting savers who were affected by the similar situation of Kaupthing Isle of Man as it recognises the damage the collapse has done to the reputation of the Crown Dependencies,’ said the spokesman for the group.

‘Guernsey, on the other hand, has clearly stated that it has no intention of helping savers. The contrast is stark and completely incongruous with the actions of all other jurisdictions affected by such bank failures within their territory.’

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This is appalling and is theft of peoples savings in my book. Banks are meant to be safe houses for one's money. On the evidence of this I think it is high time all C.I. bank depositors moved their monies to the Uk and showed two fingers to the local jurisdictions over their inabilities to protect their own peoples money. As per everything else over here it is a case of user/buyer beware. It is about time we came into the 21st century and had proper legislation for everything over here. As we all now know leaving things to chance is not a good idea.

If the C.I. governments had any gumption about them they would enforce bank depositor protection schemes on any banks wishing to do business over here. One has to ask why haven't they?

I think people should protest in the strongest terms possible until this is sorted out. Without proof of anger governments see no reason to act. My own advice is don't leave much money in any of the local banks until this legislation is in place, because you could be throwing it down the drain through no fault of your own.