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Page last updated at 10:48 GMT, Wednesday, 17 December 2008

Sark talks with Barclays on hold

Sark
Sark's new wholly democratic government sits on 9 January

Sark needs a "cooling off period" before entering into talks with the Barclay brothers, authorities say.

Dialogue has been made "impossible" by the closure of the Barclays' investment programme, said Sark's General Purposes and Advisory Committee (GPAC).

The Barclays move came after the majority of candidates they had backed for Sark's new 28-member Chief Pleas failed to win election.

Thirty eight residents lost their jobs due to the investment withdrawl.

Sir David (l) and Sir Frederick Barclay
The tycoon twins have numerous business interests in Sark

The millionaire Barclay twins' announced they were withdrawing their business interests in Sark on 11 December, a day after the island's first election to choose a democratic government for nearly 450 years.

As a result, a number of shops, hotels and other firms were closed.

Roger Olsen, chairman of the GPAC said: "Any dialogue which might have developed was made impossible, in the committee's view, by Thursday's announcement to close the Barclay sponsored investment program on Sark and to make their employees on Sark redundant with immediate effect."

Sark's new, wholly elected Chief Pleas, the island's government, is to be installed on 9 January 2009.

Mr Olsen said: "It may be to everyone's benefit to rest, review and await the wisdom of the new Assembly in January.

"A procedural cooling off period just might be to everyone's advantage."

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SEE ALSO
Sark 'not an island in crisis'
16 Dec 08 |  Guernsey
Anonymous donor gives Sark 50K
15 Dec 08 |  Guernsey
Barclay brothers defend Sark move
14 Dec 08 |  Guernsey
Barclays shut down Sark interests
11 Dec 08 |  Guernsey
Historic election recount ordered
11 Dec 08 |  Guernsey

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