Sir Philip Bailhache made his speech to welcome Lord Falconer, the Secretary of State for Constitutional Affairs, at a Town Hall lunch.Although the relationship between Jersey and the UK had not always been smooth, he said, Jersey’s international position was complex, particularly in the context of the EU.’We are of Europe, but not in Europe,’ the Bailiff told an audience of States Members, Jurats and officials.

‘We are Europeans in the sense that we subscribe to the Union’s initiatives and standards in the fight against drug trafficking, money laundering and other organised crime.

But we are not part of the EU.’I hope that your visit to the Jersey Financial Services Commission will have reinforced the conviction that the Island applies the highest regulatory standards and your discussions with the Attorney General will have confirmed that he and his officials enforce the law with impartiality and with rigour.’