Time to Boycott Iceland??

magnabill

After the disgraceful behaviour of the Iceland Government, in failing to honour their obligations, is it now the time to Boycott Icelandic Investments in the UK?

I have heard mention of House of Fraser, Whittards of Chelsea, Hamley's, etc.

At the very least it may allow the UK government to buy up depressed shares in those companies & recover some dosh!

In any event nothing remotely Icelandic will be getting my cash.

SuperCharlie

After the disgraceful behaviour of the Iceland Government, in failing to honour their obligations

Is it confirmed that this is what is happening? What is your source on this?

Charlie

lowbrim

So if our government made a hash of things you consider it fair for the rest of the world to boycott Great Britain?? It is up tio the Icelandic people top boot them out of office. Why take it out on the ordinary Joe Bloggs who run the tourist industry and the small corner shops etc!! and struggling like we are.

davidlizard

It was on the BBC website - http://news.bbc.co.uk/1/hi/business/7658417.stm

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

Now as the Icelandic Goverment have no intention of honouring their obligations, to prevent this happening again, the government should state that UK account holders with Icelandic accounts will not be bailed out after a certain date. This would then hopefully encourage as many as possible to move their funds elsewhere and save us all money. Meanwhile the Icelandic system can go rot.

What I find eqaully disgusting is that the icesave website appeared to allow investors from other countries (eg holland) full access to their funds, and icelandic nationals could also access theirs.

scottsburg

Am I the only one who thought you were referring to Iceland food shop?

Totally in agreement though - there have obviously been many dodgy dealings/risks taking place in recent years that the !!!! has eventually fallen out.

Babycakes

Maybe this is the reason:

When asked why Russia, and not a closer ally, was coming to Iceland’s aid, Haarde said: “We have not received the kind of support that we were requesting from our friends. So in a situation like that, one has to look for new friends.”
The Prime Minister went on to stress that he remains happy with the support Iceland has received from its Nordic neighbours, but would not be drawn on which countries and central banks he was disappointed with. It is perhaps fair to assume that the United States, Canada, the United Kingdom and the European Central Bank are the targets of his anger.

http://www.icenews.is/index.php/2008/10/07/iceland-economic-update-full-analysis/

going2die_rich

lowbrim wrote: »

So if our government made a hash of things you consider it fair for the rest of the world to boycott Great Britain?? It is up tio the Icelandic people top boot them out of office. Why take it out on the ordinary Joe Bloggs who run the tourist industry and the small corner shops etc!! and struggling like we are.

Why would it's people care? Iceland has said days ago it would protect domestic deposits. Obviously it planned on using UK savers money to help do that.

If Iceland doesn't have some sort of loss or backlash from this, other countries will do the same. I think British savers should vote with their feet by moving their money out of Iceland and avoid where possible Iceland owned businessed. Obviously only take reasonable steps to do so.

oxocubes

I'm not boycotting "the pirate bay"

cwcw

davidlizard wrote: »

What I find eqaully disgusting is that the icesave website appeared to allow investors from other countries (eg holland) full access to their funds, and icelandic nationals could also access theirs.

If this is true, then it is really shocking. Maybe it's only true for Dutch customers because the Icelandic government knew that ING was going to bail out Heritable and Kaupthing, and didn't want to p*** them off as much as they've obviously p***ed our government off?

SuperCharlie

Yes, I see- it's on the BBC and Reuters now.

These are extraordinary times indeed. I don't think that we need to be boycotting Icelandic stuff really, they are causing enough problems for themselves without our help!

Charlie

justaquickie

THE KE website (http://www.kaupthingedge.co.uk/about/icelandic-government-qa.aspx) currently states:

Is Iceland collapsing?

In spite of the government's takeover of two banks in eight days, the Icelandic economy is not collapsing. The Icelandic government is virtually debt free, and that has not changed. The two nationalised banks will be run as separate entities, so the Icelandic government does not guarantee their obligations except that it has explicitly stated that all deposits are fully guaranteed.

Oh, really?!

J-A-Q