Alistair Darling has just said they are gonna try to help IceSave customers

nilrem_2

That is really good news for many of us.

Just heard it myself, he was asked if we would get our savings back he replied yes next question; is that up to £50,000 he replied No all of it, I will make an announcement at lunchtime.

AdamC_2

South_Bound wrote: »

Not seen this, but if true, the passport system has just collapsed completely. I will not mention this to Mrs SB until dear old Alistair has cleared up how they will cover the gap!

Well, if you think about it...

320,000 population in Iceland
300,000 UK savers
£5 billion compensation due from Iceland (20,000 euros x 300,000)...

= £15,000 from every man, woman and child in that small island - it's not going to happen!

Coventry is just about the same size... imagine if the council tried to raise a one off £5 billion through council Tax!

I think, assuming everything gets better over time, we need to look very closely at these 'insurance' schemes - to stop Governments like Icelands, offering something when they have absolutely no intention or ability to pay...

Any Icelander not on a fishing boat should be treated with suspicion!

Bunk

Just out of curiosity, has anyone received interest on their Icesave accounts today? A few people mentioned they had yesterday.

sabretoothtigger

Overall this is still bad news. Darling is saving consumers but he cant save all those investments made up by money from Iceland, lots of retail stores rely on them and who will buy their interests with no credit available

No more cheeky iceland adverts on telly

jp01_2

AdamC wrote: »

Well, if you think about it...

320,000 population in Iceland
300,000 UK savers
£5 billion compensation due from Iceland (20,000 euros x 300,000)...

= £15,000 from every man, woman and child in that small island - it's not going to happen!

Coventry is just about the same size... imagine if the council tried to raise a one off £5 billion through council Tax!

I think, assuming everything gets better over time, we need to look very closely at these 'insurance' schemes - to stop Governments like Icelands, offering something when they have absolutely no intention or ability to pay...

Any Icelander not on a fishing boat should be treated with suspicion![/quote

I can forsee another trade war.
With everything Icelandic being boycotted here.

They do have a lot of form for just ignoring rules don't they. Cod wars, West Ham etc.

blizeH

"The Icelandic government, believe it or not, have told me yesterday they have no intention of honouring their obligations here," said Mr Darling.

Utterly awful.

outof

Babycakes wrote: »

I am voting for Labour at the next election if he pulls this off.

me too. This was an (understandable) failure of regulation and it's hugely courageous of the government not to abandon us now.

I feel a little ambivalent towards people with savings over 50K (who were very well warned) but if it stops a panic, it could still be worth saving them.

csiman

setmefree wrote: »

Daily mail i dont think so,it's reality..hundreds of thousands including children are living in poverty..

Millions of children in the UK are living in, or on the brink of, poverty, a report claims.
The Campaign to End Child Poverty says 5.5 million children are in families that are classed as "struggling" - 98% of children in some areas.
The campaign classes households as being in poverty if they are living on under £10 per person per day.
A government spokeswoman said it had lifted 600,000 children out of poverty and was committed to the cause.

And that's from the Labour party, the same Government who has injected billions to the Banks

That £10 per person excludes household bills. So that means a family of 4 is classed as in poverty if they have less than £1200 a month free after tax to spend on other "necessities". I wish i was in poverty in that case!

Bromley86

I don't think those people will be any better off if the banking system collapses. Do you?

No jobs or drastically reduced benefits because of low tax receipts doesn't seem to be in their best interests.

ultra10

MPH80 wrote: »

The 'no intention' bit was definately used on Radio 4's Today.

The full quote was (something) like 'when I spoke to the icelandic authorities yesterday they made it clear to me that they have no intention of honouring their obligations to our depositors so in these exceptional circumstances, and this is something I wouldn't normally do, we will be honouring those obligations.'

You should be able to get at it on the iPlayer post 9am on listen again. Wind to the 8.10am interview slot and listen - I think he says it about 4-5 minutes in to that segment.

M.

Yeah I heard that too !!! it looks like we are saved !!! at least thoes with less than 50k :beer: