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Royal family Faces New Scrutiny Over Alleged Information Sharing
Table of Contents
- 1. Royal family Faces New Scrutiny Over Alleged Information Sharing
- 2. Details Of The Alleged Leak
- 3. Icelandic Financial Crisis Context
- 4. Timeline Of Events
- 5. Connections To Banque Havilland
- 6. Broader Implications And Ongoing Investigations
- 7. What were the potential legal ramifications for Prince Andrew sharing the confidential Treasury briefing?
- 8. Prince Andrew Shared Confidential Treasury Briefing
London – A Confidential Treasury Briefing Was Forwarded To A banker Friend By Andrew Mountbatten-Windsor While He Was Trade Envoy, According to Newly Revealed Correspondence. The Disclosure Raises Questions about the Handling Of Sensitive Government Information And Potential Conflicts Of Interest.
Details Of The Alleged Leak
The Incident, which Occurred In February 2010, Involved A request From Mountbatten-Windsor For An Internal Government Memo Concerning The Icelandic Financial Crisis. His Deputy Private Secretary, Amanda Thirsk, Subsequently Requested The Briefing Note From Michael Ellam, The Treasury’s Director General Of International Finance At The Time.
Following Receipt Of The Note, Mountbatten-Windsor Shared It With jonathan Rowland, A Close Friend And Former Chief executive Of Banque Havilland, A Bank That Had acquired assets From A Failed Icelandic Lender The Previous Year. He Suggested The Information Might Be Useful To Rowland “Before You Make Your Move.”
Icelandic Financial Crisis Context
The Icelandic Financial Crisis Of 2008-2010 Had Meaningful Global repercussions. The International Monetary Fund Provided Substantial Financial Assistance To Iceland To Stabilize Its Economy.The Crisis Led To The Collapse Of Several Major Icelandic Banks And Caused Widespread Financial Hardship For Depositors, Notably In The United Kingdom.
Timeline Of Events
| Date | Event |
|---|---|
| February 2010 | Mountbatten-Windsor Requests Briefing On Icelandic Financial Crisis. |
| February 8, 2010 | Thirsk Emails Treasury Official Requesting Briefing Note. |
| Approximately One Week Later | Thirsk Receives and Forwards Briefing note To Mountbatten-Windsor. |
| Two Hours Later | Mountbatten-Windsor Forwards Note To Jonathan Rowland. |
Connections To Banque Havilland
Banque Havilland’s Involvement In the Acquisition of assets From A Failed Icelandic Bank Brought The Institution Under Scrutiny From Icelandic Authorities. In 2011, The British Serious Fraud Office Raided Banque Havilland’s Offices In Connection With An Investigation Related To Kaupthing Bank.
Further Scrutiny Emerged In 2019 When Reports Revealed A £1.5 Million Loan From Banque havilland To Mountbatten-Windsor, Which Was Subsequently Repaid By Companies Linked to David Rowland, Jonathan Rowland’s Father.
Broader Implications And Ongoing Investigations
The Disclosures come Amidst Increased Scrutiny Of Mountbatten-Windsor’s Conduct During His Time As Trade envoy. Thames Valley Police Are Currently Assessing whether To Launch An Investigation Into The Allegations, Following similar Claims Regarding The Sharing Of Private Briefings with Convicted Sex Offender Jeffrey Epstein.
These Revelations mirror A Seperate Investigation Involving Former British Cabinet Minister Peter Mandelson, Who Is also facing Questions About Allegedly Sharing Sensitive Government Information With Epstein.
Do You Believe This Incident Undermines Public Trust In Royal Institutions? What Safeguards Should Be In Place To Prevent Similar Occurrences In The Future?
Sources: The Telegraph, International Monetary Fund.
What were the potential legal ramifications for Prince Andrew sharing the confidential Treasury briefing?
Recent revelations indicate Prince Andrew,the duke of York,shared a confidential briefing from the UK Treasury with a banker friend during the 2008-2009 Icelandic financial crisis. The disclosure centers around a memo detailing the UK government’s response to the collapse of Iceland’s banking system,a crisis that significantly impacted the British economy.
The iceland Crisis: A Brief Overview
In late 2008, Iceland’s three largest banks – Landsbanki, Kaupthing, and Glitnir – collapsed, triggering a severe financial crisis. These banks held substantial assets and debts across Europe, including significant deposits from British individuals and institutions.The UK government was forced to intervene, utilizing emergency legislation to protect British savers and stabilize the financial system. This intervention included guaranteeing deposits held in Icelandic banks operating in the UK, a move that cost British taxpayers billions.
The Shared Memo & Banque Havilland
The confidential Treasury briefing,dated November 2008,outlined the government’s strategy for dealing with the fallout from the Icelandic banking collapse.It was reportedly shared with David Rowland, a British banker and founder of Banque Havilland. The memo’s contents detailed the UK’s position on Iceland’s request for financial assistance from the International Monetary Fund (IMF).
Rowland, a long-time friend and business associate of Prince Andrew, allegedly sought insight into the government’s thinking to possibly benefit Banque Havilland. The bank had exposure to Icelandic assets and stood to be affected by the crisis’s resolution. The sharing of this data raises questions about potential conflicts of interest, given prince Andrew’s role as the UK’s Special Representative for International Trade and Investment at the time.
Prince Andrew’s Role as Trade Envoy
From 2002 to 2011,Prince Andrew served as the UK’s Special Representative for International Trade and Investment,a position intended to promote British business interests abroad. Critics argue that his private connections and business dealings potentially blurred the lines between his public duties and personal interests. The Iceland incident has fueled scrutiny of his activities during this period.
Key Details from the Memo
While the full contents of the memo haven’t been publicly released, reports indicate it contained sensitive information regarding:
* The UK government’s assessment of Iceland’s financial situation.
* The UK’s stance on providing financial aid to Iceland.
* The potential implications of Iceland
