Cayman reacts to EU blacklist, Travers says “We are compliant.”

Reactions to the EU’s listing exercise continues to pour in.
Former head of Cayman Finance Anthony Travers has rejected Cayman’s inclusion in the EU grey list pending tax fairness provisions. Mr. Travers said the EU lists have no credibility as they do not include countries within the Euro bloc. Mr. Travers said the EU had no option but to exclude Cayman from its blacklist.
In a statement, he said, “The simple fact is there is no further global initiative to which the Cayman Islands can accede. It is no secret that what the European Union are actually demanding is the introduction of direct taxation in the Cayman Islands and that simply will not happen.
He added, the EU accounts for only eight percent of business in Cayman’s financial services industry.