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Respond to offshore critics

The Isle of Man's finance sector should face-down criticism of the 'offshores' - and continue pushing the UK government to help retrieve losses in the current banking crisis.

That view from business expert Justin Urqhuart-Stewart of Seven Investment Management.

Recent comment in the UK media has highlighted the plight of investors in collapsed bank Kaupthing, Singer and Freidlander Isle of Man.

And the fact Alistair Darling's promise that Kaupthing savers wouldn't lose out, doesn't apply to the Isle of Man.

Vince Cable from the Liberal Democrats says any bail-outs by the UK government should not benefit offshore banks.

But Mr Urqhuart-Stewart says many critics simply don't understand the Island's role (audio file attached):

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