In Part One we examined the experience of ex-colonies from an historical, and economic perspective and compared that group to Bermuda's circumstances. In Part Two we looked at specific issues such as citizenship, globalisation, sovereignty and relations with both America and Britain. In Part Three we sum up some of these points and introduce some new issues to reach some conclusions.

SOME would argue that Bermuda currently has the best of all worlds: we make our own laws, we manage our economy, internal affairs, and some of our external affairs, notwithstanding what the Constitution says. We effectively manage internal security, even though the Constitution says that this is the purview of the UK.

After all, we have the power of the purse. We are UK citizens but pay no UK taxes. World travel, our national passion, is easier with British passports. The global network of British embassies and legations is available to us at no cost when we travel.

Our children and young people have the option of training and working in the European Union and, in time, bringing that knowledge back home. Most importantly, from an economic analyst's perspective, there is no economic imperative for Independence. I can find no flaws in these arguments.

Even though it is clear that colonialism is an institution intrinsically connected to racial discrimination, it does not logically follow that Independence, the antithesis to colonialism, will be an antidote, a solution or magic bullet to eradicate the inequities that colonialism has wrought. It's like smoking causing lung cancer, once you have contracted lung cancer, merely quitting smoking will not cure it.

Proponents of Independence suggest that Independence will force everyone in Bermuda to think about what is good for our island because we will have no one else to turn to; Independence will "Bring us all together".

As all of us can live and work anywhere in the EU, this scenario will never happen, even if we are Independent, because we DO have somewhere else to which to turn. I would like to think that we live and work here because we want to, not because we have nowhere else to go. Moreover, individuals make decisions based on their own personal circumstances, objectives and prejudices, not having anything to do with the UK. Independence will not change that.

Independence will not, in itself, redistribute wealth, income or economic opportunity in this island. Such redistribution can take place right now by the fiscal actions of the Bermuda Government, if that is what the Government wants to do. No reference to the UK would be required because such matters already constitutionally fall under the purview of the local Government.

The reason that no Bermuda Government has enacted such a policy is that it would necessitate the introduction of income tax, a fiscal policy that would ultimately kill the golden goose and Bermuda's economy with it.

WE should remember that the racially discriminatory practices and laws of the past were not imposed on us by Britain, they were "Made in Bermuda". Mind you, Britain did nothing to stop or change them either. We had to change them ourselves. The United States has been Independent since 1776 and the remnants of colonialism, slavery, "Jim Crowism" and discrimination are still with them today, 228 years later. Clearly Independence didn't help them with race relations.

The impetus to "Bring us all together" must be in the hearts and minds of the majority of Bermudians for it to happen. A legal or constitutional arrangement won't affect that. Strong and enlightened leadership from political leaders, of all stripes, would definitely help to "Bring us all together", not a new constitution. The tools to bring us all together are already in our hands, we just need the will to use them.

The facts are clear that although colonialism is the root cause of many of our social problems, we have moved so far through time and economic development that mere eradication of the institution will not eradicate these issues.

These issues have metastasised and now have a life of their own because they live in us, every one of us, and they will not go away until we have the collective will to make it so. Independence will not make that happen.

What about sovereignty? Why should we, as a prosperous, developed country, not seek full sovereignty? As we have discussed, sovereignty in today's world has become a somewhat amorphous concept with many countries deliberately giving up parts of theirs for practical reasons.

One of the secrets to Bermuda's success is that we have been a very practical people. We must be practical about Independence.

Although, as a Bermudian, I am very proud of what we have achieved on this island, I admit that I feel uneasy when my Caribbean friends ask me: "Are you guys STILL a colony?" But what are the practicalities, how much are we willing to pay, collectively through increased taxes and other costs, to proudly reply, "Not any more," to that question?

MUCH discussion has focused on cost. In the final analysis it is not an issue of cost, we're a wealthy country. Instead, it is an issue of value, i.e. "Are the benefits of Independence worth the price?" As a country we must lay down specific criteria to be met to affirmatively assert, "Yes, the benefits of Independence are, indeed, worth the price."

I believe an economic imperative, and a policy impasse with Britain are key criteria that have to exist for there to be value in paying for the additional apparatus necessary for full sovereignty.

These two key criteria do not exist today. The future's not ours to see and perhaps one day the situation may change. Until then Bermuda should remain in its current status.