Brexit Emails 1 JMG 7Mar17
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From: Lyndon Farnham <[email protected]> To: Ian Gorst <[email protected]>,Philip Ozouf <[email protected]>,"Sir Philip Bailhache (Senator)" <[email protected]> Cc: Paul Routier <[email protected]> Addressed To: [email protected],[email protected],[email protected],[email protected],[email protected] Subject: Twitter Date: Friday, June 24, 2016 09:28 BST Philip, I am not sure this is an appropriate tweet. Getting a few negative comments from members - just trying to be helpful. L. Ministerial triumvirate CM, Sen Bailhache & me + our teams, who have for months carefully worked up plans in event of BREXIT meet at 8:30am Senator Lyndon Farnham ---------------------------- End Of Message --------------------------------------- From: Philip Ozouf <[email protected]> To: Alan Maclean <[email protected]> Cc: Ministers Only <[email protected]> Art Addressed To: [email protected],[email protected],[email protected], ,[email protected],[email protected],i. 25 [email protected],[email protected],[email protected],[email protected],[email protected],t je,[email protected] ,[email protected],[email protected],[email protected],[email protected] Subject: Re: Brexit Date: Wednesday, June 22, 2016 17:23 BST Yes interesting. Art 41 Of origin Hungarian, he may have a stake in a strong EU. Its probably worth remembering that for – every counter-party in a trade speculation there is a person who takes a different view…. We will know more this time tomorrow and for certain in 36 hours. Take you bets Philip Senator Philip Ozouf Assistant Chief Minister Government of Jersey [email protected] T +44 1534 440597 M +44 7797 713838 ---------------------------------- End Of Message ------------------------------------- On 22 Jun 2016, at 17:03, Alan Maclean <[email protected]> wrote: Dear All, Someone was asking today what the view of George Soros was in relation to a possible Brexit vote, I have just seen the following: "World-renowned currency trader George Soros believes Brexit could see a repeat of Black Wednesday in 1992, when sterling dropped 3.4bn in value..." Best, Alan Sent from my iPad From: To: Ian Gorst <[email protected]>,"Sir Philip Bailhache (Senator)" <[email protected]>,Alan Maclean <[email protected]> Art Cc: Joe Moynihan <[email protected]>, >, Kate Nutt <[email protected]>, 25 David Walwyn <[email protected]>, Philip Ozouf <[email protected]>, > Subject: **BREXIT - Financial Services media lines** Date: Friday, June 24, 2016 11:35 BST Attachments: image001.png (3.2 KB), image002.png (3.3 KB), image003.png (3.4 KB), image004.png (2.9 KB), Brexit Statement to Members.eml (12.4 KB) Chief Minister, Ministers Please see below key lines, agreed with ACM Ozouf and JFL, as to what should be stated in respect of BREXIT impact on financial services. ACM Ozouf will use these at lunchtime in his media slots and the CM could also use these in the 'Hot Seat' at 12 noon. We consider these lines should suffice until after the weekend unless you are further advised. Art 35 Kind regards Joe, ----------------------------- End of Message --------------------------------------------- Art 25 From: Sent: 24 June 2016 10:45 To: Philip Ozouf <[email protected]>; Geoff Cook(jersey Finance) <[email protected]>; Richard Corrigan <[email protected]> Cc: Joe Moynihan <[email protected]>; je>; Kate Nutt <[email protected]>; Subject: RE: BREXIT - Financial Services media lines Importance: High Dear Philip, Geoff and Richard Post our conference call, has put the below together which we all consider represents the key messages Philip should look to deliver during his media slots concerning the FS industry. Please do let us know any comments but we hope all is covered or Philip has enough to rework. Please let us know if we can assist further. Kind regards Media response line in respect of a BREXIT vote for financial services in Jersey i) Jersey has a diversified financial services base Jersey is today well placed and well planned for a UK BREXIT vote. This is a result of long term strategic planning in respect of the economy and short term planning in respect of the EU Referendum. It is important to remember that Jersey is an International Finance Centre and facilitates the international flow of funds globally. Our diverse base of underlying business is therefore not necessarily directly affected by a BREXIT vote. In the financial services industry, work in recent years has demonstrated the diversified client base in financial services markets, it is in particular to note new markets in the Middle East, Africa and Asia. These are significant jurisdictions that support the financial services industry in Jersey. We are very well and uniquely placed to navigate our way through what is going to be a period of adjustment for the UK where there will be the need to build and develop new relationships. ii) Jersey was a third country to Europe, for financial services, and will remain a third country post BREXIT Institutional investors place confidence in Jersey structures to distribute capital around the world. Jersey, has always been a third country to Europe for the purposes of financial services and this will remain post the withdrawal of the UK from Europe. Jersey agreements as to market access for financial services have been built up over numerous years and those agreements will remain post-BREXIT. The UK will now have to look at alternative models to distribute capital around the world, through new agreements and relationships with other countries, which is, of course, a position that Jersey already has in respect of third country access. The fact that we already have third country access to Europe allows certainty to be provided through Jersey - that position is the same this morning s it was yesterday morning . Certainty is a very valuable commodity. The Government see a business as usual relationship with Europe in financial services due to the market access that Jersey has had for years. Art 41 The markets this morning has demonstrated the volatility that was predicted would come about as a result of a BREXIT vote. However, we have already seen the markets beginning to stabilise over the course of the morning and the announcement by Prime Minister that the withdrawal of the UK from the EU will have to come about under a new Prime Minister will provide a likely 3 month break in which stability may return to the UK market. Over time history tells us markets tend to rebalance. Art The Bank of England Governor has issued a statement this morning on stability of the UK economy and liquidity of UK banks. Jersey is a significant contributor to liquidity as explained in the Capital Economics Report on Jersey's value to the UK. 41 . Jersey's financial services industry has adapted to significant changed over recent years. After having been through the worst financial crisis since the second world war we have shown we are resilient. We are adaptable and we are in a good position as to change. We have returned to almost record numbers in employment and we have diversified and changed before. The Jersey authorities will work closely with the financial services industry to ensure Jersey is as well placed as it can be to retain a positive relationship with the City of London in the event of a BREXIT. Art 25 Chief Minister's Department: Government of Jersey +44 1534 4 Cyril Le Marquand House, PO Box 140, Jersey, JE4 8QT [cid:[email protected]]<https://www.facebook.com/StatesofJersey>[cid:[email protected]]<https://www.l inkedin.com/groups?home=&gid=3173232&trk=groups_management_participants-h- logo>[cid:[email protected]]<https://twitter.com/StatesofJersey>[cid:[email protected]]<https://www.you tube.com/user/StatesofJersey/> From: David Walwyn <[email protected]> To: Colin Powell <[email protected]> Art 25 Cc: Ian Gorst <[email protected]>, Joe Moynihan <[email protected]>, Kate Nutt <[email protected]>, Philip Ozouf <[email protected]>, >, "Sir Philip Bailhache (Senator)" <[email protected]>, " Tom Le Feuvre <[email protected]>, .je> Subject: RE: Brexit report Date: Wednesday, June 22, 2016 09:13 BST Thanks Colin, yes it will be copy edited later today. David From: Colin Powell Sent: 22 June 2016 06:48 To: David Walwyn Cc: ; Ian Gorst; Joe Moynihan; Kate Nutt; Philip Ozouf; ; Sir Philip Bailhache (Senator); ); Tom Le Feuvre; Subject: Re: Brexit report Dav id Art . 35 There are a number of typos in the report which I assume will be picked up on proof reading before publication. Kind regards Colin Sent from my iPhone From: Philip Ozouf <[email protected]> To: Paul Routier <[email protected]> Cc: Ian Gorst <[email protected]>, Ministers Only <[email protected]> Addressed To: [email protected],[email protected],[email protected],[email protected],[email protected],s.luce@g ov.je,a.mac [email protected],[email protected],[email protected],[email protected],[email protected],[email protected],philip.bailhache@g ov.je,[email protected] Subject: Re: Interview CTV Date: Friday, June 24, 2016 13:32 BST Ian was brilliant on the Radio just now. Art 35 Ian leading on all Sir Philip on External Relations Other Philip (me) on Financial Services ONLY . And good luck in Cricket Philip Ian will deploy us all exactly on track. Let’s keep it up.