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The president of the Isle of Man Bankers' Association has compared figuring out what to do about the offshore banking industry with working out how to make love to a porcupine.
At Wednesday's State of the Nation meeting at the Mount Murray hotel, John Coyle, who is also managing director of Standard Bank Isle of Man, said the challenges were rather more obvious than the opportunities.
However, he also said he believed offshore banking on the Island was no nearer extinction than the world's porcupine population:
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