Montserrat national football team competition in the next stage, losing 0–20 on aggregate over two legs against Saint Vincent and the Grenadines. Soon afterwards, the Soufriere Hills volcano became active and the eruptions destroyed Plymouth, the capital of Montserrat, severely disrupting all football on the island. Despite the lack of football action, the MFA became a full FIFA member in 1996. However, it was a further three years until the Montserrat team played another international fixture. This was mostly because many of the island's footballers had emigrated away from the area, many of them to England. After a four-year hiatus, the team entered the
Long-Term Capital Management invested in other derivatives such as equity options. Under prevailing US tax laws, there was a different treatment of long-term capital gains, which were taxed at 20.0 percent, and income, which was taxed at 39.6 percent. The earnings for partners in a hedge fund was taxed at the higher rate applying to income, and LTCM applied its financial engineering expertise to legally transform income into capital gains. It did so by engaging in a transaction with UBS (Union Bank of Switzerland) that would defer foreign interest income for seven years, thereby being able to earn the more favourable capital gains