Alistair Darling Guarantees Icesave 100%

MoneyWorries_2

posh*spice wrote: »

It isn't a 100% guarantee IMHO

He was asked dierctly on national TV - do you mean just the savings up to 50K - he answered directly - 'no all of it'. Seems pretty clear.

We had less than 4k in Icesave - but I am relieved for others. What this means for the future who knows? Still everyone should make sure they have under 50K in any one place - that is clear and was before this Icesave collaspe!

antilles

Just reading Martin's update and he's taking the view that only the first 50K will be guaranteed:

http://www.moneysavingexpert.com/savings/safe-savings

(See important update 8th October 8am - about 3/4 of the way down)

"The inference was quite clear, the governmet will ensure savers get their £50,000 back, I don't believe he meant people will get their money back. This section will be updated with the Chancellors statement later, but I wanted to get this in as quickly as possible."

stebiz

antilles wrote: »

Just reading Martin's update and he's taking the view that only the first 50K will be guaranteed:

http://www.moneysavingexpert.com/savings/safe-savings

(See important update 8th October 8am - about 3/4 of the way down)

"The inference was quite clear, the governmet will ensure savers get their £50,000 back, I don't believe he meant people will get their money back. This section will be updated with the Chancellors statement later, but I wanted to get this in as quickly as possible."

This was only announced at about 8.40am. He just hasn't updated it yet.

Stebiz

JonnyBravo

TuftyMatt wrote: »

By the way those who had more than £50k should think themselves lucky and learn from this when finding a new home for their cash.

Learn from what exactly?

The £35k limit was in existence at the time. People either chose to ignore it or didn't know about it.

Either way they have no learning experience as the good ol' tax payer will bail them out. Should have let those with over £50k lose it. More fool them.

jp01_2

oxocubes wrote: »

I heard it, he did guarantee 100% of icesave savings - no limits - because icelands finance minister had advised him the country was broke.

He also implied it was a one off because of exceptional circumstances. I.E. Do not reinvest with a foregn bank.

Now, did'nt someone promise us a referendum on Europe.

The clear read between the lines of the phrase 'I wouldn't normally do this'' was this is the first and only time.

In other words get your money out of any other Icelandic bank. FAST

Andrew64

I hope everyone has learnt a lesson - don't put your money in a foreign bank! I have a few thousand in Kaupthing Edge and I have finally decided to take it out and spread it around my accounts in British banks. I also took note of the fact that Kaupthing Sweden has had to be rescued:

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSSAT00566720081008

stebiz

jp01 wrote: »

The clear read between the lines of the phrase 'I wouldn't normally do this'' was this is the first and only time.

In other words get your money out of any other Icelandic bank. FAST

They are all frozen aren't they??

Stebiz

freddysmith

Well I'm going to send my Björk album to Icelands PM in protest!

pizzagirl

reduceditem wrote: »

He was furious with the Icelandic government......he said they told him they have no money in their gaurantee scheme. They will be 'pursued' for failing to meet their 'obligations'!

We should send the Royal Navy up there and sink it.

JoeA81

Phew! Im really glad that the government has moved fast on this. This is exactly what me and all the other Icesavers needed to hear.

Reading this forum last night left me confused and worried, Im glad I dont have to worry any more.

Well done AD!