Time to Boycott Iceland??

slipp_digby

i am fully behind youir boycott and have taken the following measures:-

no ice in my GNT.
whale meat now sourced from japan

give me a shout when it starts to bite.

innovate

cwcw wrote: »

Why can't the UK invoke its own "emergency laws" and simply take ownership of any Icelandic investments in the UK? e.g. any Icelandic stakes in a UK company become possession of the government and offset the compensation that Iceland has wriggled out of. This is financial war.

Good plan. The UK should start this 'war', then see its own assets abroad being confiscated by the foreign govenments. Other countries should quickly follow the UK lead.

hmh, may be not.

codger

shindigger wrote: »

When he made that announcement yesterday, my immediate thought was that he'd told the Icelanders to get lost and would directly bail the UK savers. Why would any UK government hand more money over for the Icelanders to divvy up at will?
They are a failed state basically.

Far from achieving anything at all by "boycotting Iceland", supporters of so bonkers a notion will only further imperil the UK economy: we're trying to keep people in jobs here, not see 'em out on the streets.

The reality is that Iceland (the country, not the frozen pies store) is a stretcher case. There are 300,000 people living there and if anyone here seriously -- and I mean: seriously -- thinks Iceland is now in any position at all to meet Gordon Brown's demand that the £billions it now owes to UK IceSave depositors be paid back, then I wish I was on the same medication.

The way things are going, far from boycotting Iceland, the UK and the UK taxpayer might yet have to become one of the rescuers of the fast-collapsing blob of ice way oop there on the map.

* Have a look at the latest % drop in the exchange rate where Iceland is concerned. . .

owner

Boycott them ?? That's too lenient imo, I would hope the Royal Navy are currently on course for Reykjavik.

kiwifruit_2

I can totally understand the OP's point but by 'boycotting' all things Icelandic, will only effect the innocent workers of these places who had/have no idea of the crashing of the Iceland Bank. Putting pressure on the powers to be here in the UK and to get them to put pressure on the powers to be in Iceland would, IMHO, be the more effective process - but I do understand

morg_monster

XXXX wrote: »

When the disgraceful Iceland Government dishonored their bank depositors, can you imagine how the Iceland companies not to dishonor the salary of their employees?

Bravo. You are giving Iceland more opportunities to default!

Sorry I don't really understand this (but thanked you anyway, woops)

Just because the country is "bankrupt", doesn't mean every Icelandic company is, surely? Why would baugur suddenly not pay all Whittards staff?

I can see that actions like not going to Iceland on holiday, and perhaps not using pretty much wholly Icelandic companies like national airlines etc (and in the future, once all this has passed, their banks again) could be possibly justified if someone wanted to "teach them a lesson", but boycotting companies which are basically British despite being owned by Icelandic countries, I feel it is us shooting ourselves in the foot, and would only have the most negligible effect on Iceland, if any effect at all?

And as another poster wondered, I'm not sure that all jobs lost through say Whittards closing down would be made elsewhere. But who knows, maybe they would be.

slightly OT - in a recession, a shop like Whittards selling fancy teas and coffees and expensive mugs, which are lifestyle things and not necessities, would be looking pretty fragile anyway. Its a mugs game ... boom boom.

XXXX

shindigger wrote: »

They are a failed state basically.

Looks more like a mismanaged state.


Someone seems to suggest it is not enough for them to rob our savings, we need to give them more to rescue them. eh?


Who is going to rescue us when our mortgage is overdue? :rolleyes:

SephirothX

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.

My Dutch friend was saying it's against the law over there to deny access to their funds, so that may be why.

steve_hill

I'm sure many UK savers will be feeling like this group of Dutch savers who brought in the bailiffs...

http://www.dutchnews.nl/news/archives/2008/10/icesave_customers_bring_in_the.php

Ben84

I don't see the point boycotting Iceland, their decision on this matter will have serious consequences anyway. Investor confidence will be badly damaged by this, and what we will see next, if it has not already started is a large scale moving of money out of Iceland, which will have far reaching consequences on their economy.

I can't actually believe they have decided to do this. Aside from being unreasonable, as I believe all investors at the same institution should be equally entitled to compensation, it is also incredibly reckless and will damage their own economy a lot.