BBC's Peston on Iceland !

ianmr65

Please see my recent (long) post here. It's an antiode to the hysterical reporting, that peston et al have been engaged in.
http://forums.moneysavingexpert.com/showthread.html?t=1194821&page=5

having said this the Pro-Iceland PR machine has kicked in an there are many positive stories floating around today..

My post linked to above above concludes:

"Peston reports that 1 uk bank who is not lloyds or HBOS was within a day of two of serious liquidity problems, (far worse than icelandic bank ones) had the BoE not stepped in with yet looser collateral loan requirments. How heavily was this reported - Not at all - He didn't even name the bank. -My guess RBS.

Nationalisation / Sale.

If they ever get to the point where they need rescuing the(icelandic) Banks would i have no doubt, merge, or be sold, broken up or be nationailised. They are too interconnected, to the UK, and other euro zones, for this not to happen.
So far in this crisis no large commercial bank, in the world has been allowed to fail. Kaupthing and Landsbanki are no different"

ianmr65

napoleon wrote: »

Haha. Surely amuluscent must have said something that was true? You don't think maybe he was making it all up, do you?

No... He was quoting a travel reporter in the observer!!

ianmr65

JayTee99 wrote: »

most likely they would need to be broken up and the assets sold,

Agree, - the B&B solution.

JayTee99 wrote: »

which would obviously take time.

no it wouldn't - it would be instant. Once the sale is agreed, the deal is done, and the assets flow.

Lugh_Chronain

All those scare mongers won’t be complaining when their Motors are being fuelled with Icelandic hydrogen. It is said that Iceland could be the ‘Kuwait of the North,’ exporting hydrogen to Europe and other countries. Sounds stange to me when people talk of Iceland being on the brink of collapse.

home_alone

Lugh_Chronain wrote: »

All those scare mongers won’t be complaining when their Motors are being fuelled with Icelandic hydrogen. It is said that Iceland could be the ‘Kuwait of the North,’ exporting hydrogen to Europe and other countries. Sounds stange to me when people talk of Iceland being on the brink of collapse.

They must be talking about the frozen food outlet.

gary

Stavros_3

Hot of the press..........Iceland Directors have ordered a freeze on all its assets HERE

ianmr65

Stavros wrote: »

Hot of the press..........Iceland Directors have ordered a freeze on all its assets HERE

They should go back to calling themselves Bejam's....:p

Uncle_Ben

I managed to get my money out of kaupthing edge last week. I have been telling my friends and family to close their icelandic accounts. Judging by Preston's article, we're getting our money out just in time. That whole island's going bust. That's for dam skippy

Voyager2002

Uncle_Ben wrote: »

I managed to get my money out of kaupthing edge last week. I have been telling my friends and family to close their icelandic accounts. Judging by Preston's article, we're getting our money out just in time. That whole island's going bust. That's for dam skippy

You remind me of my (Chinese) wife's comments about buying an investment property in England. She is nervous about doing so, because she fears that this whole "little island" could disappear under the sea if global warming gets any worse. I think that her fears are exaggerated, and would say much the same about your comments on Iceland.

sadabbott

My mum's been to Iceland and got some 2 for 1s.