very positive development, said Bank of N.T. Butterfield & Son chairman, Sir David Gibbons.

"There is no doubt in my mind that all that Press must be a very, very good thing for Bermuda and the continuing development of international business,'' Sir David said.

"There is no doubt whatever that rightly or wrongly, there were great fears and apprehension about the potential effect of Independence.

"The alarmists were saying people would pack up and leave. I have no knowledge of anyone who would have done so, unless a post-referendum government had begun to make noises which they found negative and off-putting.

"Having said that, there was the uncertainty which existed for over a year and a half. There is no doubt whatever, because I was in London as recently as June and there were a number of people, particularly in the insurance field, who deferred making a decision about setting up shop in Bermuda until the matter was resolved.

"And since then, I've had several phone calls saying that now that it is all settled, they are on their way out (here). I just had lunch with a senior executive of a major London firm, who is out here looking at various corporate activities.

"He came out on Sunday, after the referendum. His principle is prepared to go ahead, because the uncertainty has been eliminated.'' "All of the uncertainty has been removed. The ratio was so decisive that the general feeling is that there will be no revisiting this for sometime to come.

"I know if Jim Woolridge gets in, he's unalterably opposed to it. So there is no way the matter will be reconsidered.

"And although Dr. David Saul did not commit himself, I know that his estimate was in his own constituency it was four-to-one, not a three-to-one vote against, in Devonshire South. And I know it is his view, as Minister of Finance, that the matter has been laid to rest and we have to get on with our business.'' Sir David also said the world picture was important in the scenario for the Island's future.

"I was chatting with someone from London.

You know there is a continuing failure of Lloyd's to resolve its problems and so there is a continuing need for ever greater capacity in Bermuda, the world's third biggest reinsurance center.

"We have over 20 percent of the world's reinsurance capacity. It's tremendous. The traffic is such that even flying out, as this chap was on Sunday, as is usually the case, the first class and business sections were full. That was people out here for international business. They certainly weren't coming out (here for tourism) in the aftermath of a hurricane, that's for sure.''