The crisis facing the Cayman Islands could offer new opportunities for the Isle of Man's finance sector, according to political member of the Manx Treasury Alex Downie, MLC.
The tiny Caribbean tax haven is virtually bankrupt and has been refused a bail-out by the United Kingdom government.
Cayman is the world's leading hedge fund venue, home to funds valued at $3.2 trillion.
But the tax-free jurisdiction is running out of money, jeopordising its ability to pay for its civil service, health, education, the police and much more.
The Manx Treasury is watching the situation and Mr Downie says there's potential to attract hedge funds to the Isle of Man.
And, coincidentally, two high profile events to promote the Island are already in the diary:
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