History of Bermuda - Recent History

Recent History

Bermuda has prospered economically since World War II, developing into a highly successful offshore financial centre. Although tourism remains important to Bermuda's economy, it has for three decades been second to international business in terms of economic importance to the island.

On 10 March 1973, the Governor of the island Sir Richard Sharples was assassinated, along with his aide-de-camp and his dog. Erskine Burrows was found guilty of this assassination. His hanging, on 2 December 1977 was followed by three days of riots.

Though Bermuda has been classified as a self-governed colony since 1620, internal self-government was bolstered by the establishment of a formal constitution in 1968, and the introduction of universal adult suffrage; debate about independence has ensued, although a 1995 independence referendum was soundly defeated. For many, Bermudian independence would mean little other than the obligation to staff foreign missions and embassies around the world, which would be a heavy obligation for Bermuda's small population, and the loss of British passports (which could severely restrict travel, as few enough countries have even heard of little Bermuda, and could regard travellers with suspicion). Another concern, which raised its head during the 1991 Gulf War, was the loss of the protection provided by the Royal Navy, especially, to the large number of merchant vessels on Bermuda's shipping register. The Bermuda government is unlikely to be able to provide naval protection to oil tankers plying the Persian Gulf, or other potentially dangerous waters. At present, Bermuda is able to take advantage of its status as part of the United Kingdom to attract overseas shipping operators to its register, although it does not contribute to the navy's budget. With independence, it was feared, a large chunk of the money currently flowing into the Bermuda Government's coffers would disappear. The current government is promoting independence – by means of a general election (that is, the government of the day would have the power to decide whether to go independent or not) as opposed to a referendum (a direct vote by the people) – by establishing a committee to investigate (though the committee is notably staffed with party members, and without representation by the opposition party). This stance is being supported by the UN, who have sent delegations to the island claiming that Bermuda is being suppressed by the British.

Effective 1 September 1995, both US military bases were closed; British and Canadian bases on the island closed at about the same time. Unresolved issues concerning the 1995 withdrawal of US forces—primarily related to environmental factors—delayed the formal return of the base lands to the Government of Bermuda. The United States formally returned the base lands in 2002.

It was hit by Hurricane Bertha in July 2008.