The Chief Minister Allan Bell says the news that Guernsey's Chief Minister Peter Harwood has resigned this morning is bad news for the Channel Island
Mr Harwood has stood down following the publication of a full page article in satirical weekly magazine Private Eye which claims the Channel Island has an ‘incestuous’ political establishment.
Deputy Harwood was at one stage a director of the troubled Channel Island Stock Exchange and chairman of its regulator, the Guernsey Financial Services Commission.
Mr Bell says he understands why Mr Harwood decided he had to stand down, but adds that his loss is very disappointing
(Picture courtesy of BBC Guernsey)