Chief minister Peter Harwood could be asked to step aside
SPECULATION was today mounting that Peter Harwood will be asked to step down as chief minister following national media reports about his involvement with financial sector regulation and the problems that faced the Channel Islands Stock Exchange.
In particular, a full page by satirical weekly Private Eye claiming that the island has an 'incestuous' political establishment has worried ministers over the reputational damage that could be caused to Guernsey pending a Guernsey Financial Services Commission inquiry into the CISX.
This, plus the fact that the problems experienced by the exchange led to its then new chairman collapsing the structure and relaunching a new entity, has alarmed some ministers.
It has already been reported that the Private Eye article will be discussed by the Policy Council today.
However, over the weekend ministers have been discussing the matter privately and it is understood that Deputy Harwood, pictured, will be asked to withdraw from today's meeting while his colleagues consider whether it would be better for the reputation of the island for him to stand down, even temporarily, while the GFSC investigation into the problems at the CISX is ongoing.
