Guernsey resists pressure to cooperate
The reasons given for rejecting the proposal? According to the JEP:
Both Jersey and Guernsey have opposed the move, saying that to sign up to the EUSD before their competitors could damage the finance industry.
Now let's get this straight. The purpose of automatic information exchange is to deter tax evasion. Nothing else. And both islands refuse to sign up to this process on the grounds that they will lose their competitive edge. A reasonable person will assume this can only mean their competitive edge lies with providing secretive facilities for tax evasion by non-residents. And these places have the gall to say they're "cooperative" jurisdictions. Shame on them.