international business during an opening address at a significant conference held annually in Bermuda.

His message was that international business need not fear the Independence initiative.

Speaking to some 200 participants at the 24th annual International Risk Management Group (IRMG) conference at the Marriott Castle Harbour Resort, the Premier made it clear that there was no intention to change the Island's business climate in the event of an independent Bermuda.

He told the conference, "We propose no radical change in the way Bermuda is governed. We intend to continue to abide by the democratic principles which have always underpinned this society. We intend to continue our efforts to encourage and promote tourism and international business here.

"We have been careful, in the formulation of our policies, to ensure that the checks and balances against the misuse of power, which are so important to successful democracies, have been either put in place or will be kept in place.'' The Premier said that those who live and work in Bermuda would probably notice little or no change in their lives.

"We are the oldest self-governing dependent territory in the Commonwealth, and I would emphasise the words self-governing.

"We have been looking after our own affairs for many years. We have been self governing ourselves for 27 years, since 1968 when we developed our constitution that governs us today. Our ties to Great Britain are most definitely not those of a child hanging on to a mother's apron strings.

"Our motive, if we decide to become independent, would simply be to put behind us a form of dependence which is not as relevant in the modern world as once it was.'' The Premier said that he commented on the issue because many people in the industry were aware of the August referendum.

He said, "I think it's important that you properly understand it so that you don't get apprehensive about it. And as you go back home and meet your colleagues or countrymen, you too can properly explain it.

"We are celebrating 375 years of parliamentary democracy in Bermuda on August 1. Our ties with Britain are very strong. We have all the forms of parliamentary democracy and the legal system and our traditions and customs are very British. In fact, we have more British holidays than the British have.'' But he said with changing times for Bermuda that included the departure of military forces, and changing economic conditions around the world, it was time to review Bermuda's place in the world.

"It caused us to take a look at our position, so that we could position ourselves in what might be the new requirements of the 21st century. And so on Friday we set a date for a referendum, so that the people in a democracy can decide. Not the politicians, not by way of an election, but by the way of Premier bids to allay business fears From Page 1 discussing it, being informed about it and deciding what should take place.

Now one might say, `Why bring about this, why look at these changes?' It's because we feel confident that Bermuda, having governed itself for so long, that if we woke up tomorrow and found an independent Bermuda, nothing would have changed.'' The Premier concluded by saying, "We are just carrying out a course of action that we hope will benefit everybody. We intend to be strong and determined in international business. We want to continue to be the big player in that process.'' Sir John said that with a new world order, Bermuda wanted to find out to what extent the Island wanted ties with other countries, such as Japan, and to what extent we wanted to have ties with Europe, as opposed to Britain.

He said that there was also a question of what ties could be had with NAFTA.

Later yesterday, at the conclusion of the conference banquet, Tourism Minister the Hon. C.V (Jim) Woolridge, addressing the same delegates, gave an opposing view on the Independence issue.

Mr. Woolridge spoke out against Independence saying he felt Bermuda had prospered under British rule.

Sir John Swan