Friday, September 16, 2011

James Alix Michel sham Elected President Wants Us to Think that We are no longer Bankrupt As A Country and That their Is no need to Implement Democratic Changes!!

VZCZCXRO5286RR RUEHDU RUEHMR RUEHPA RUEHRN RUEHTRO
DE RUEHPL #0381/01 3120721
08 FM AMEMBA
ZNY CCCCC ZZH
R 070721Z NO
VSSY PORT LOUIS
E WASHDC 4257 INFO RUEHZO/AFR
TO RUEHC/SECSTA
TICAN UNION COLLECTIVE
ELOPMENT COMMUNITY COLLECTIVE RUEHLM/AMEMBASSY COLOM
RUCNSAD/SOUTHERN AF DE
VBO 0222
RUEHNE/AMEMBASSY NEW DELHI 0294
RUEHRH/AMEMBASSY RIYADH 0095
RS/DEPT OF TREASURY WASHDC RUC
RUEHTN/AMCONSUL CAPE TOWN 0161
RUEHSA/AMCONSUL JOHANNESBURG 0756
RUEA
TPDOC/DEPT OF COMMERCE WASHDC C O N F I D E N T I A L SECTION 01 OF 05 PORT LOUIS 000381 
 
SIPDIS 
AF/E FOR MARIA BEYZEROV 
JOHANNESBURG AND CAPE TOWN FOR FCS 
 
E.O. 12958: DECL: 11/06/2018 
TAGS
:           
SUBJECT: PARADISE LOST: HOW CORRUPTION BANKRUPTED SEYCHELLES 
 
365 Classified By: Amb
REF: A. A) PORT LOUIS 267 
      B. B) PORT LOUIS 316 
      C. C) PORT LOUI
Sassador Cesar B. Cabrera for reasons 1.4 b and d. 
 
corruption throughout the ranks are behind the Seyche
1. SUMMARY: (SBU) An overall lack of transparency an
dlles' 
recent international appeal for help after a chronic lack of 
debt burden of 175 percent of GDP effectively left the cou
foreign exchange, loan defaults, drastic inflation, and an 
excessive
 ntry bankrupt.  After defaulting twice on government 
debt payments, Seychelles will be forced to accept economic 
aque economic system. END SUMMARY. ----------------- CUR
reforms they have so long rejected and possibly confront and 
correct a seemingly corrupt, government controlled, o
pRENT SITUATION 
----------------- 
 
 2. (U) According to studies conducted by various 
International Monetary Institutions (IMI) as well as the 
foreign exchange shortages, and excessive state con
Seychelles Chamber of Commerce and Industry (SCCI), 
Seychelles has been flirting with bankruptcy for years due to 
poor economic policies, severe
 trol of the economy.  Despite having a 
per capita GDP of 10,000 USD and being classified as an 
"upper-middle income" country by the World Bank, the 
of foreign exchange led to Seychelles defaulting on a prin
Seychelles recently was forced to the breaking point due to 
rising inflation and perennial shortages of foreign exchange. 
 
 3. (U) In July 2008, lac
kcipal and interest repayment 
of a 85 million USD private placement note causing 
international credit rating agency Standard and Poors (S&P) 
to downgrade the country's foreign currency sovereign credit 
from CCC, in anticipation of the government also defaulting
rating to Selective Default (SD) from the already low rating 
of CCC/C.  The July default prompted S&P to lower the credit 
rating on Seychelles 230 million USD global bond, which 
matures in 2011, to CCC-
 on this loan, which indeed did 
happen in early October 2008. 
 
 4. (U) According to an October 29 Reuters Africa report, the 
government is asking 12 percent of its civil service, the 
largest employer in the nation, to "voluntarily" resign in 
accordance with the new IMF program, the Rupee depreciated
order to cut costs on the national economy, which has a debt 
burden that, according to government statistics, equals about 
175 percent of GDP.  On November 3, international press 
reported that after exchange controls on the Rupee were 
lifted i
n78 percent to the U.S. Dollar moving the exchange 
rate from USD 1 = SRs 8 to USD 1 = SRs 14.29.  This coupled 
with the global credit crisis is sure to peak already high 
inflation rates in Seychelles. 
 
 5. (C) The credit downgrades and continued defaults coupled 
reschedule Seychelles' debt until they worked with the I
with an all time high year-on-year inflation rate of 31.6 
percent driven by rising food and oil prices suggest that 
Seychelles will have a difficult time securing foreign loans 
to continue to finance their debt.  The Paris Club lenders 
stance to reject a request t
oMF on a comprehensive program 
made Seychelles' desperation more apparent. 
 
----------------------------------- 
REASONS GIVEN FOR THE CURRENT CRISIS 
----------------------------------- 
 
 6. (C) A quick glance at international headlines on the 
Seychelles economy will suggest that this small, 
global economic situation has exacerbated the problem
net-importing island nation is a victim of the global 
financial crisis, or rising commodity prices.  The Seychelles 
Government (GOS) offers vague official statements that cite 
"irregularities" or "errors" as a reason for recent defaults 
on debt payments.  Even though it is clear that the current
 , 
history, local contacts, and recent occurrences suggest 
instead that Seychelles faces this situation due to internal 
culprits -- especially the lack of transparency, government 
 
PORT LOUIS 00000381  002 OF 005 
 
 
cronyism, and corruption. 
 
 7. (C) International bodies, including USG advisors, have 
uded devaluing the currency, privatizing state-owned enter
warned Seychelles for many years that their economy was in 
need of drastic reform.  For example, in 2005, a visiting 
World Bank team urged them to prepare an 'Economic 
Restructuring and Debt Workout' plan and provided them with a 
proposed timetable for its implementation.  Key first steps 
in this plan inc
lprises, and meeting with donors to address 
debt in arrears.  Even before the World Bank suggestions, 
Paris Club lenders urged Seychelles to adopt an IMF program 
and devalue their currency.  Seychelles remained defiant to 
these suggestions.  In 2006, the Permanent Secretary at the 
Ministry of Finance (MOF) explicitly told a USG-funded debt 
tic debt only, even though at the time GOS had just tak
management advisor that GOS would not consider currency 
devaluation in the immediate future.  Furthermore, despite 
the exasperating effects that overvaluing the rupee had on 
foreign exchange and GOS' ability to pay off foreign debt, 
the Central Bank of Seychelles (CBS) and MOF Debt Management 
Team encouraged the USG advisor to focus on dome
sen out a 200 
million dollar global loan (approximately 1/3 of GDP) with a 
2011 maturity date. 
 
 8. (C) Although government officials cited concerns for 
short-term social unrest as the reason they avoided 
implementing economic reform, opposition leaders, private 
sector representatives, and others -- in private meetings 
with EMBOFFS -- all pointed to fraud and corruption as the 
helles Trading Company (STC)), and use budget sur
real reason.  Continued pressure from the IMF and 
multilateral lenders to undertake reform measures caused GOS 
to finally accept the need to introduce modest reform in late 
2006 to allow the rupee to fall from USD 1= SRs 5.50 to USD 1 
= SRs 8, announce moderate privatization of the Seychelles 
Savings Bank and several units of the former Seychelles 
Marketing Board (renamed the Sey
cpluses to pay down domestic debt. 
 
 9. (C) GOS acceptance to undertake these reforms seems 
positive until one considers that shortly after initiating 
reforms, GOS halted the depreciation of the rupee leaving it 
overvalued, as witnessed by its persistent trading on the 
black market.  The STC does not have any buffer stock of 
commodities, so price inflation was immediate at the onset of 
e sector, there is still reason to suspect that budget s
economic reform, which wreaked havoc on foreign exchange 
reserves, so the GOS remained hesitant to restart 
depreciation measures (Note: On November 3, GOS lifted 
exchange controls due to a mandate by the new IMF program. 
End Note.)  In addition, even the moderate privatization 
announced concerning the Savings Bank and STC has yet to take 
place, and according to Post contacts in the priva
turpluses will 
continue to be spent on government projects instead of 
financing domestic debt. 
 
 10. (C) In a September 2008 conversation, local businessmen 
and SCCI members told ECONOFF that they have little faith in 
the government paying down its domestic debt (currently 2/3 
of GDP) with budget surpluses because throughout the years, 
the government has consistently put any reported surplus into 
. In another example, local businessman Marc Hoareau, m
heavily lauded but ineffective government projects.  One 
businessman noted the 25 million USD desalination project, 
championed by the head of the ruling Seychelles People's 
Progressive Front (SPPF) and, by most accounts, real ruler of 
Seychelles, Albert Rene as the project that would make water 
shortages something of the past.  To date, Seychelles has 
water shortages and the plant still does not wor
kentioned 
the prawn farm in Coetivy Island as another lionized 
initiative that has not lived up to its billing, left the 
country indebted some 75 million USD, and could not be sold 
to any private management company because it was deemed 
non-competitive on the world market. 
 
------------------------------------------- 
SHADY LINKS BETWEEN BUSINESS AND GOVERNMENT 
------------------------------------------- 
 
s call him, Siva. Reportedly, Siva will use the island to
11. (C) According to the Indian Ocean Newsletter, a weekly 
periodical sponsored by Indigo Publications, the government 
 
PORT LOUIS 00000381  003 OF 005 
 
 
could not find a buyer for the prawn project on Coetivy 
Island, so it decided to cut its losses and sell the island 
for 117 million USD to Indian businessman and recently 
president-appointed Ambassador-At-Large, Chinnakannan 
Sivasankaran, or as the loca
lcreate a tourist complex of ten 
250 room hotels.  Although this seems like it could be a 
regular business deal, many local contacts tell EMBOFFS that 
business deals like these, that hint at corruption and are 
motivated by political gains with little regard to the local 
economy, are destroying Seychelles' economic future. 
 
 12. (C) SCCI Chairman Albert Payet recently told POLOFF that 
in 2004, when the SCCI met with MOF, the SCCI recommended 
ers reported with disappointment that many tourist resorts (s
amending the Tourism Incentive Act (TIA) so that once tourism 
was operating at almost full capacity, investors and hotels 
would receive fewer concessions, but to their chagrin, the 
new TIA released earlier this year granted even more 
concessions.  Official MOF documents dated November 26, 2007, 
show concessions given to the Ephelia Resort which exempts 
the resort from 75 percent of the regular taxes imposed on an 
investor.  Moreover, SCCI mem
bpecifically citing 
North Island, Le Marriott, The Banyan Tree, and the 
Silhouette) that do their business primarily in foreign 
currencies effectively bring little foreign exchange (FOREX) 
through Seychelles banks because of retention rates that 
allow some to retain up to 100 percent in foreign coffers. 
 
 13. (C) In an October 30 meeting, Ralph Vocere, editor of a 
local paper and member of an opposition party, illustrated 
the situation further with an anecdote about the Barbaron 
d be able to keep 100 percent of their earnings. This is al
Hotel, the hotel with reportedly the most revenue earned in 
FY 2008.  According to Vocere, the foreign owners of Barbaron 
Hotel also have a commanding stake in Aitel Phone Services, 
which is a big local phone service provider that does 95 
percent of its business in rupees.  The owners could not 
repatriate the funds from Aitel given the current status of 
the rupee, so GOS reportedly made a deal with the owners that 
they could invest in a local hotel to earn foreign exchange 
and wou
llegedly how the owners bought the Barbaron Hotel and now 
are able to retain 100 percent of the FOREX.  Contrastingly, 
according to post contacts, local Seychellois hoteliers are 
allowed to keep only 15 percent of the foreign exchange they 
earn. 
 
 14. (C) Vocere reports that corruption, coupled with the 
selling off of lands to what he calls the "business mafia," 
is what is holding back the Seychelles economy.  He believes 
that until this problem is tackled, the IMF and World Bank 
ident Michel after only being in Seychelles for about a year.
can keep attempting to help the Seychelles, but it will be to 
no avail. Vocere added that the "mafia" consists of key 
Seychellois figures such as SPPF chief Albert Rene and other 
SPPF cronies, Indian businessman Siva, local businessmen the 
Savy brothers, and "Arab investors."  "Mafia" member or not, 
no one can deny that Siva has profited from his time in 
Seychelles.  He now owns many business, three islands in the 
Seychelles archipelago, and was nominated Ambassador-at-Large 
by Pre
s This nomination was supposedly a reward for 
bankrolling Seychelles debt and providing money to government 
officials.  Soon after awarding him the position, the 
Government of Seychelles requested a U.S. diplomatic visa for 
Ambassador-at-Large Siva.  When Post requested information as 
to the plans and nature of the diplomatic trips planned by 
Siva, the GOS withdrew the application. 
 
 15. (C)  According to Vocere, the current IMF team has 
uncovered 3 billion USD in overseas Seychellois bank 
use of a tip from the Seychelles authorities that he was sm
accounts. The day after Vocere made this information public 
during a delivered speech in downtown Victoria on November 4, 
he was arrested on charges of "unlawful assembly" and remains 
detained.  This is not the first time Vocere has been 
detained for criticizing the government.  In October 2008, 
Vocere's printing press was shut down by the Seychelles 
government and he traveled to Mauritius to print his 
opposition paper.  According to the GOM, the Mauritians 
detained Vocere at the airport bec
auggling heroine into 
Mauritius.   No heroin was found and the GOM released him 
 
PORT LOUIS 00000381  004 OF 005 
 
 
without any charge. 
 
 16. (C)  When asked about possible corruption on a local 
television program on September 4, Guy Adams, the head of 
Seychelles Petroleum Company -- one of the largest and most 
profitable companies in the nation --  said that his company 
had not been properly audited in 20 years.  This would have 
made it easy, he declared, to siphon off millions of dollars 
if had wanted to do so. 
 
lles gossip. Among the many allega
----------------------------------- 
CHANG-LENG: CHARACTER OF CORRUPTION 
----------------------------------- 
 
 17. (SBU) While corruption allegations surround many SPPF 
partisans and associates, no figure has received as much 
negative attention for the current crisis as former Central 
Bank Governor, Francis Chang-Leng.  Admittedly, there were 
many reports in local press accusing Chang-Leng of corruption 
before the recent loan defaults, but even if there were truth 
to the claims none was substantiated beyond normal Seych
etions against Chang-Leng, one 
promulgated by many sources is that he spent 8 million SRs of 
Seychellois taxpayer rupees to treat a select group of female 
employees that he calls his "Strategic Team" to overseas 
trips with him. 
 
 18. (C) While in recent meetings with ECONOFF, Chang-Leng 
dismissed the Seychelles load default as an "irregularity," 
local press reported that Chang-Leng unilaterally issued the 
government debt that caused the default and that it was 
months before the Ministry of Finance or President knew about 
Michel's hand to investigate the claims. Even with hard f
it.  Press reports also suggested that the Lehman Brothers' 
representative who bought the risky debt had close ties with 
Chang-Leng and alleged that some money issued had been 
pocketed by Chang-Leng.  In an October 30 meeting, Ralph 
Vocere said that he has been accumulating corruption evidence 
against Chang-Leng, but was waiting for the right time to 
release it.  Vocere believes Chang-Leng's recent streak of 
independence and his recent vacating of his CBS post leaves 
him vulnerable for the attack, which will force President
 acts of corruption, the general take from many Post contacts 
is that a conviction of Chang-Leng will be difficult due to 
"a weak judiciary." 
 
--------- 
JUDICIARY 
--------- 
 
 19. (C) Another suspicious situation is the liquidation and 
subsequent sell-off of The Plantation Club, formerly the 
second largest hotel in Seychelles.  On August 5, Judge 
Andrew Ranjan Perera ordered the liquidation and helped the 
GOS -- who only held an eight percent share -- shutdown the 
hotel.  The next day, Perera was made Chief Justice.  Local 
previous owner, threatened to force the former owner, a U.S
media reported that Perera was appointed Chief Justice as a 
reward for his judgment in SPPF's favor.  This raised 
concerns of the local private sector community and the 
opposition press.  The perception and allegations of 
government corruption grew when the hotel was eventually sold 
off to the lowest bidder out of three, European Hotels and 
Resorts Limited, a newly formed group of hotel investors with 
ties to the SPPF establishment and a Saudi businessman, 
Sheikh Abdul Mohsin bin Abdulmalik Al-Shaikh, who has, 
according to the
 . Citizen, out of business since 2006. 
European Hotels and Resorts Limited's directors, lawyers, and 
bankers have direct links to the Saudi businessman. 
 
 20. (C) According to many sources, including the former 
Plantation Club owner and SCCI members, the Plantation Club 
ruling is only one of many corrupt rulings by the weak 
Seychelles judiciary.  The constitution states that the 
judiciary is independent; Embassy contacts, such as 
Seychellois lawyer Frank Elizabeth, say that this is not the 
case.  For example, most court judges are either naturalized 
system to yield influence over the judiciary. For example,
citizens or citizens of other Commonwealth countries, such as 
Tanzania, Uganda, and Sri Lanka.  There is only one Supreme 
Court judge, one appeals court judge, and two magistrate 
court judges who are citizens by birth.  Initially, 
 
PORT LOUIS 00000381  005 OF 005 
 
 
recruiting foreign judges and magistrates made up for the 
lack of professionals in the years following independence, 
but today Post contacts report that the foreigners are put in 
these positions  because they are more malleable. 
Allegations abound that the government also uses a patronage
 Former Chief Justice Vivekanand Alleaar, a Mauritian citizen 
who resigned in January 2008 after numerous allegations of 
corruption, is rumored to have received prime real estate for 
a development project from the SPPF and funding for his son's 
education in England for his loyalty to the party. 
 
------- 
Comment 
------- 
 
 21. (C) For all of the speculation and shadowy figures in 
Seychelles, it is hard to get any concrete evidence to point 
at any one person.  The plethora of circumstantial evidence, 
however, does support that there is significant corruption in 
the system. Post believes that corruption is the critical reason why a country as wealthy as Seychelles (900 million USD GDP) has suffered so many persistent economic problems. The current IMF economic reforms coupled with the global financial crisis are sure to have drastic social implications in the Seychelles. Although sharp inflation, and job loss may cause social unrest, it could also lead to Seychellois finally confronting the corruption behind the system that put them in this mess.
CABRERA
http://dazzlepod.com/cable/08PORTLOUIS381/
An Extract of the following link: 

33 comments:

Anonymous said...

Oh my God, this confirms everything Christopher Gill has been writing for Seven (7) years.

I am shocked! No wonder he never gets sued.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill

Anonymous said...

The heading says it all:

Paradise Lost: How corruption bankrupted Seychelles.

Anonymous said...

Lack of DEMOCRACY has allowed corruption to flourish. The pain of the 2008 economic reforms could have been avoided. People, let the scales drop from your eyes. Boycott the elections.

Anonymous said...

I wouldn't agree with you saying that it is the lack of democracy that has allowed corruption to flourish. It is rather corruption that has prevented democracy from fourishing.

When we think of what percentage of Seychellois is involved in corruption in some way or other eitehr directly or indirectly, it explains our fear for change as a nation in its entity.

How many of us have paid a bribe to get things done quickly or simply joined them rather than beat them in order to avoid the hassle? How many businesses have endulged in the practice in order to get things done or simply secure itself and its employees?

Someone once wrote that even at the morgue in Victoria they are taking bribes by tricking with the books(getting paid under the table for keeping the deceased in the cooler longer than the free period). At Victoria hospital the middle management is using the emergency budget to order non emergency material at a price way higher than the normal. Why? Because of dealings with the seller abroad who splits his cut.

As you can see guys, we all want freedom of both speech and the choice to make decisions, but few of us(Seychellois) want the responsibility involved in living democratically and too many people have become comfortable with corruption money that is dripping in their pockets for them to want change. The latter also includes our dear opposition.

I'd like to hear from any of you who have never paid a bribe of some sort in Seychelles. Those of you who cannot claim that you have never paid a bribe, well you as just as guilty as keeping the corruption beast alive as Rene, Michel, Chang-Leng etc, maybe at a smaller scale, but nevertheless the same.

Koz Kouyon

Anonymous said...

The difference is that Parti Lepep officially encourages bribes to stay in power. Bribery is against official opposition policy. SNP has many policies that are good for the country, but will adversely affect a section of its support. It is the duty of the government to address this scourge. It is no excuse that some people who support the opposition take or pay bribes. Few people really believe that Pierre and Carpin have not been bribed by PL. So, that's not helping. We do not help the country overcome scourges like these, when we point the finger unnecessarily at the opposition. The government feels exonerated and that no action is needed. The scourge must be tackled so that no one, opposition or government supporter, demands a bribe to perform a service. Moral preaching or peer pressure has little effect. Legislation and its enforcement is required.

Government can set a good example by its own actions. People think there is serious corruption high up in the government where sums run into millions. They also see the government reward those who are guilty of wrongdoing in their government positions. They therefore see nothing wrong supplementing their meagre income by a R100 bribe.

brigitte said...

Totally correct, no-one really goes for the Big fish, but are quick to try and manipulate the small fishes into doing it for "the good of the country".

Anonymous said...

I do not pay bribes. I expose government people that solicit bribes from me to release projects.

It works and it is cheaper then paying bribes.

You all should do the same. We will gladly do it for you, for FREE.

Contact Seychelles Freedom Party (SFP) office with your information.

On Facebook send us a message at "La Liberte" face page, the real one with a finger sticking up in the sky, not the fake one, trying to trip up our effort.

We have caused a number of corrupt employees in government to move on for exactly that. We do not have to mention their names now, they are gone.

We have shown that it can be done and we do not have to sit around and cry over being bribed.

No Seychellois should have to pay any BRIBE to live a normal life in Seychelles!

Putting a stop to it starts with each one of us.

It can be done.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill

Pissedoff said...

Gill; the public will continue to take your bribe money to boycott - and just for laughs I might even turn up at your office to get mine but like all the rest we will still vote!

Anonymous said...

Please, you are free to say what you like, but please remain coherent and sensible.

Looking like a BOZO through your comments, makes the PL Communists look bad.

By all means, in spite of my request, say what you like.

Thank you.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill

Anonymous said...

To get rid of bribery in Seychelles one needs to take a hard look at the Indians living among us. They introduced bribery to Seychellois; we used to be a very innocent nation until Indians showed us otherwise. If we want to expose bribery let us all start to be private investigators by keeping a close watch on all the customs employees. If you see that they have an Indian friend or acquaintance it is a given that money is exchanging hands between them so let us be vigilant and try to catch and expose them. It's a start and it's the least we can do for our country.

brigitte said...

You'll win the Fight against Corruption when civilization ends.

Anonymous said...

Reply to Brigette-

Singapore was the most corrupted place to do business in Asia once.

Look at Singapore today.

New York City was one of the most corrupted cities in the 1960 and 1970s in the USA. Look at New York City today.

Same for Chicago. Look at Chicago.

Corruption is not an option for a micro state. The internal State Department communique tells that story loud and clear.

Our generation needs to do better, because our times demand it.

If we cannot do better, then what we see around us, we fail ourselves, and the next generation coming. In that case, that happens to be my children.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill

brigitte said...

LOL LOL LOL
Who's wearing rose tinted glasses now?

brigitte said...

http://topics.nytimes.com/top/reference/timestopics/people/h/alan_g_hevesi/index.html?inline=nyt-per

http://topics.nytimes.com/top/reference/timestopics/people/r/charles_b_rangel/index.html?inline=nyt-per

http://topics.nytimes.com/top/reference/timestopics/people/k/bernard_b_kerik/index.html?inline=nyt-per

to name but a few in the old NYC!!

brigitte said...

Don't get me wrong, i'm all for eradicating corruption, but it starts with proof not hearsay. You have a story about a corrupt official, you print it, show everyone the proof, don't pussyfoot if the person in question is related to you in some way (friend/neighbour/business associate/church
goer/relative/parents evening/member of your party)
you get me.

brigitte said...

Print it in a Newspaper for everyone to see, not on blogg where it's not that easy for everyone to access.

brigitte said...

You keep saying how you've done so much so far back home, you claim you have already started eradicating & you are on the road to leading us out of the huge debts we're in, if you get to lead the Country of course, but so far How many Government Officials have you put behind bars due to your blogg?

Anonymous said...

Brigitte

To get the proofs we must dismantle the crooks government then we will have access to documents and a new governemnt with the help of other nations bring the case fully to light.For example,the u$2,5 biilons hidden in Swiss bank,once a new governmnet is in place through diplomatic process between the Swiss and Seychelles new governemnt,those crooks can be exposed and bring to justice.this is how for example money stolen by Gadhafi are being frozen by othert states in order to give it back to the new lybian governemnt.

Jeanne DÂrc

brigitte said...

To dismantle the crooks you must have proof.

brigitte said...

You expect people to wait/vote for you to come to power, to liase with the swiss gov who was liasing with the sey gov, to expose corruption. Like the swiss gov is just gonna turn around & say here they are, they're the ones that were collaborating with the sey gov to defraud the country? You think the swiss gov doesn't know that they are helping defrauding the country????

brigitte said...

sorry...was liasing with the SPPF Gov!!

Anonymous said...

What have proven the most effective way to have results.Do you see how Lybian are getting the bilkions back with the help of those countries in which Gadhafi hide the money.Dito to Mubarak,Ben ali,soon Assad and others.Without the helps of those countries where the money was hidden no of those countries like Eypyt would have ever find the money back or at least less than expected.other example,Geramny,France,USA,and many other western countires have with the helps of Switzerland been able to encovered billions of dollars banked ib Swiss banks by national of those above countires than escape taxation.It was only after USAmGeramny etc ask the Swiss its help that they could encover those involved.So you could imagine that if countires like USA with the world best secret agents needs Swiss help probably a small country like Seychelles would need more than that.

Jeanne DÂrc

Anonymous said...

Swiss liases with any governemnt as it does liase with new governemnt when the old fall.Ex-dictator Sony Abbache of Nigeria knows something,Mobuto of Ex ZAIRE,Papa and baby doc of Haiti,Pinochet of Chile,Marco of Phillipines and many others all of them after being disposed their stolen billions banked in Switzerland was given back to the new governemnt.it would not be any different for PP crooks.

Jeanne D'Arc

brigitte said...

What was Swiss Bank UBS doing while the latest Rogue Trader filtered £1.3billion from it, only 'discovered' thurs gone??

I suppose you're going to tell me Kweku Adoboli did it all by himself. In which case UBS is very very dumb not to have noticed all that time...dating back to 2008!!

I doubt very much!! ;)

Anonymous said...

That is an intern problem nothing to do with Swiss government.it is a big blow for the reputation of UBS has been investing millions to polish its reputation after the wolred crisis in 2008.I wpersonally have an account with UBS i can tell you i am not scared on losing my money. UBS is a big and powerful bank the lost though sound big ,is nothing than pocket for them.Of course the Swiss governemnt which a well -organised one will scrutinized the loopholes that allow the Ghanian to act irresponsibly and the boss of UBS will also be under pressure which can result in his sacking.

No panic the Swiss people know how to fix things look their economy at the moment it is one of the few in European succeeding while ohters are crawling to save themselves from banruptcy..


Jeanne D'Arc

brigitte said...

LOL LOL..carry on living in the Truman Show ;)

brigitte said...

Your bank, for 3 years "did not notice" the 'problem'. Your Too Big To fail bank.

Anonymous said...

As all big and powerful banks around the world,but the different Swiss banks have always fixed problem when they are face with and i do not b^doubt they will once again.Could Pp at least fix the corruption in our very little bank called Novobank?This will be a milestone in our history should Pp be able to fix that.

Jeanne D'arc

brigitte said...

Don't divert the argument, it's corruption...in sppf...in the swiss bank..& everywhere else....you liasing with the swiss gov will not get any cash back...they might get more cash morelike.

Anonymous said...

By the way the person who stole at Nouvobanq comes from the opposition camp. For you to find out ....

Anonymous said...

It explains then why PP suddenly made it public.But since PP wants to give us the impression that it taking actions again malpractices when would Pp make public POOR AND YOUNG report of its mal practices?When would PP investigate Daivd Savy,Chang Leng depiect as the symbol of corruption by CIA 4,5 million gifted an ARAB and so on and on...

Jeanne D'Arc

brigitte said...

Standard & Poor report.

Blogger said...

eToro is the ultimate forex trading platform for beginning and full-time traders.