Alistair Darling Guarantees Icesave 100%

juliusceasor

JonnyBravo wrote: »

Have a heart my @rse.

For those who genuinely didn't know about the £35k limit, I feel sorry for them. Sorry for them in that they don't have enough sense to look into stuff before sending out large sums of money. I suspect these are the people who send money to Nigeria to release "lottery money" they have won.

For those who knew all about it, the vast majority I'm sure, but preferred not to think about it so that they could get the highest rate - tough.

Well for those people who don't know or are less literate than others then the amount protected should clearly appear on every application form on the very first page.
I think up until Northern Rock I would guess less than 90% of the populace new there was any cap on savings. (I'll give an unrelated example- I bet less than 98% of the populace know that from April next year anyone who comes to work on your gas appliance won't be CORGI registered anymore) They are both important facts but how quickly does the perceived thought of what is so change to the actuality, therein lies the problem.

I hope everyone who has money at Icesave is fortunate to get their money back up to £50k, they deserve to. Anyone who gets more than that is graced by the gods themselves and I won't begrudge them it. But if you have that level of money you really should be TAKING DUE CARE.

JonnyBravo

juliusceasor wrote: »

Well for those people who don't know or are less literate than others then the amount protected should clearly appear on every application form on the very first page.
I think up until Northern Rock I would guess less than 90% of the populace new there was any cap on savings. (I'll give an unrelated example- I bet less than 98% of the populace know that from April next year anyone who comes to work on your gas appliance won't be CORGI registered anymore) They are both important facts but how quickly does the perceived thought of what is so change to the actuality, therein lies the problem.

I hope everyone who has money at Icesave is fortunate to get their money back up to £50k, they deserve to. Anyone who gets more than that is graced by the gods themselves and I won't begrudge them it. But if you have that level of money you really should be TAKING DUE CARE.

Oh yes. Now if it was a UK bank that had gone bust I'd be all for guaranteeing over £50k.

The fact it is a foreign bank suggests these weren't illiterate investors. They would have heard about Icesave through financial press in all likelihood. They probably knew about the £35k limit on protection too as it is well covered in the same places. The majority chose to ignore it.

Wibble

You've got to feel sorry for the Icelandic people too, though. There are only 320,000 of them, compared to 300,000 IceSave depositors so paying up to 16k each when their currency has dropped around 40% against the £ in recent months has got to be tough.

The vast majority of them have nothing to do with IceSave and their country is facing ruin.

Having said that - I still want my savings back!

As an aside - I visited Iceland a few years ago and it is a really great country to visit with incredible sights to see. It was pretty expensive to visit then, but with their currency dropping so much it's probably quite cheap now so well worth a visit!

ad44downey

posh*spice wrote: »

It isn't a 100% guarantee IMHO

This doomster never stops

oxocubes

freddysmith wrote: »

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

And when you get your money back you'll be able to get hearing sorted out.:D

trets77

antilles wrote: »

Link here -http://news.bbc.co.uk/1/hi/business/7658417.stm

If the Icelandic government do indeed renege on their obligations they should boot all of their banks out of the UK.

assuming there are any left standing after this ... i agree . .

IT_nerd

Couldn't AD be onto a good thing here?
He says to be careful and not trust anything but UK banks, and that he wont be this kind next time.
Everyone withdraws from offshores and deposits into domestic banks. Therefore boosting our banking sector and putting the last blow to iceland.
Win win?

edwinac_2

trets77 wrote: »

assuming there are any [Icelandic banks] left standing after this ... .

There aren't any Icelandic banks still taking deposits in the UK, are there?

The nationalised Glitnir bank was a commercial bank and never operated in the UK, and Heritable Bank, formerly part of the nationalised Landsbanki, and Kaupthing Edge UK, have just been taken over by ING Direct NV, and Icesave is, well, bankrupt.

The end of a very icy era in British banking, that is until the next crisis...

fitnessqueen_2

IT_nerd wrote: »

Couldn't AD be onto a good thing here?
He says to be careful and not trust anything but UK banks, and that he wont be this kind next time.
Everyone withdraws from offshores and deposits into domestic banks. Therefore boosting our banking sector and putting the last blow to iceland.
Win win?

Believe me I will be taking his advice- Kent Reliance Building Society is where my money is headed if I ever get it back.

RED73_2

Does anyone know what time AD's official announcement will be?