Icesave FSCS comp news?

Dear Icesavers,

Some hopes.... not in consumer page but look in industry page...

http://www.fscs.org.uk/industry/

FSCS is doing behind the curtains something about icesave.....

manhattan wrote: »

Any news yet from the FSCS about compensation from Icesave?

I think they were supposed to give us news by today?

Just come across this:

http://uk.news.yahoo.com/18/20081021/tbs-icelandic-bank-fails-to-pay-interest-5268574_2.html

Iceland cant even pay back Japan!!!!

EBG wrote: »

Not sure if anyone has seen this as well:

http://www.itv.com/News/Articles/UK-seeks-Iceland-compensation-827189832.html

It seems to me that although the government have promised us our money back they are at the same time using us Icesavers as an emotional bargaining tool to get whatever they can out of the Icelandic Government, because if the Uk Government paid us all right now then we would no longer be screaming for our money back and therefore the Icelandic government would feel under less pressure to reimburse our Government. This is at least what moneybox on Radio 4 on Saturday inferred and i agree.
But i think that it is wrong of the Uk government to use us in this way as a tool. They promised us our money back and so they should just pay it now. This is clearly why we have been fobbed of by the FSCS because they could never come out and say that although we will all get our money back they are holding out for as long as possible so that they can put pressure on the Icelandic Government to reimburse our government.
Also on the subject of interest, we should all get paid interest up untill the date that we are compensated not the date that Icesave folded. The reason for this is because, if people with one year term deposits are getting interest for the whole term then i suspect that in law it would be inequitable not to pay the rest of us up untill the actual date of compensation.

investor7 wrote: »

It seems to me that although the government have promised us our money back they are at the same time using us Icesavers as an emotional bargaining tool to get whatever they can out of the Icelandic Government, because if the Uk Government paid us all right now then we would no longer be screaming for our money back and therefore the Icelandic government would feel under less pressure to reimburse our Government. This is at least what moneybox on Radio 4 on Saturday inferred and i agree.
But i think that it is wrong of the Uk government to use us in this way as a tool. They promised us our money back and so they should just pay it now. This is clearly why we have been fobbed of by the FSCS because they could never come out and say that although we will all get our money back they are holding out for as long as possible so that they can put pressure on the Icelandic Government to reimburse our government.
Also on the subject of interest, we should all get paid interest up untill the date that we are compensated not the date that Icesave folded. The reason for this is because, if people with one year term deposits are getting interest for the whole term then i suspect that in law it would be inequitable not to pay the rest of us up untill the actual date of compensation.

Absolutely!
I've been blahing on about this on several threads. The very thought of some of us not getting interest while awaiting compensation while those 'lucky' enough to be in fixed term accounts gatting it makes my blood boil. Especially since my own 6 month fixed rate account 'matured' on 16/10. Obviously I am not advocating that everyone should miss out on interest, but it would only be fair for the government to pay interest to all until compensation payout. Otherwise we are 'losing out', both in terms of interest not paid and erosion by inflation.

I think the FSCS is still undecided about this important issue. We really do need to make some noise about it.

Many thanks for posting. I'm really glad that there are others who feel as intensely as I do on the matter among the majority who seem grateful enough to be getting their capital back.

dali21 wrote: »

Anyone else seen this:

http://www.ft.com/cms/s/0/108635c0-9fbd-11dd-a3fa-000077b07658.html

Now that does sound more promising! :money:

The loan would provide an important first step towards unfreezing the deposits of approximately 300,000 UK customers who have been unable to withdraw money after Landsbanki collapsed this month.