I don't disagree with the island status arguement... it's completely true. But they will NEVER integrate into Europe. To do so would kill the economy as they would have to submit to EU financial regulation and EU economic policy. Good bye low corporate taxes, good bye high wages, good bye low interest rates etc. The economy has a low unemployment rate because of the island status... they will never, ever, ever change this. But like you said - a monopoly creates abuse and the retailers here have been abusing. The bank rates and fees are so crazy simply because they are seen as 'safe'.