In spite of the haze of speculation, it is still something of a shock to find myself here, coming to terms with an enormous trust placed in my hands and with the inevitable sense of inadequacy that goes with that.

Institutions develop because people put a lot of trust in them, they meet real needs, they represent important aspirations, whether it's monasteries, media, or banks, people begin by trusting these institutions, and gradually the suspicion develops that actually they're working for themselves, not for the community.

The Macau casinos have a wonderful business, it's taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos to gamble. The growth continues and they have basically western managers and western accounting, so we trust the numbers a little bit more.

But I don't have a very good track record with royalty. My dress fell off in front of Prince Charles at the Prince's Trust, so I'm just living up to my reputation.

This relationship is going to be built on trust.