Icesave and Iceland government are scammers!

IT_nerd

http://www.youtube.com/watch?v=QyWM9HfmjLU

Darling has frozen Icelands UK assets... HAHAHA. Awesome.
A nice 10 room icelandic embassy will be up for sale soon enough

amuircroft

Hmmm he has changed his tune now the UK has frozen their assets. Just goes to show how easily they were going to just cut the UK savers out.

Iceland, Britain seek solution to frozen bank funds: Reykjavik

52 minutes ago

REYKJAVIK (AFP) — The Icelandic and British governments will try to find a solution to a dispute over money held by British savers in two frozen Icelandic banks, Iceland's prime minister said on Wednesday.

"The governments of the two countries will immediately review the matter in detail through official channels with a view to finding a mutually satisfactory solution," Prime Minister Geir Haarde said in a statement.

"The government of Iceland is determined not to let the current financial crisis overshadow the long-standing friendship between Iceland and the United Kingdom," he added.

Haarde's comments came after his British counterpart Gordon Brown said London would take legal action against Iceland after the island's second largest bank, Landsbanki, was nationalised and subsequently froze two British subsidiaries, Icesave and Heritable.

Angry British customers have voiced frustration at the bank's silence over the future of their savings after it announced Tuesday that customers could no longer withdraw or deposit money.

"It should be highlighted that on Monday evening changes were made to the Act on the Depositors' and Investors' Guarantee Fund strengthening the position of depositors by giving them priority when allocating assets," Haarde said.

"There is a good possibility that the total assets of Landsbanki will be sufficient to cover the deposits in Icesave," he said, stressing that his government would "support the Depositors' and Investors' Guarantee Fund in raising necessary funds."

Iceland's foreign ministry meanwhile said the country's ambassador to Britain, Sverrir Haukur Gunnlaugsson, had held a meeting Wednesday at the British prime minister's office "with a number of high officials."

"The meeting was held at the request of the Icelandic authorities" and "discussed consultations between the two countries on the financial crisis, its impact on the Icelandic financial system and the situation of Icelandic banks," the ministry said in a statement.

"It has been decided that formal talks between the two governments will begin on further consultations and necessary measures," it added.

http://afp.google.com/article/ALeqM5...-nspZmfkK8RzWg

olivetti

Think we need to claim a bit more compensation from Iceland.

To misquote Douglas Adams:
"So long and thanks for all your fish!":rotfl:

edwinac_2

GeorgeHowell wrote: »

Hopefully the overall gratitude will not extend to giving them another term, but given the political and economic ignorance and short-term thinking of large swathes of the electorate it cannot be ruled out entirely.

In what way would the Conservatives play this any differently?

Ken Clarke was on BBC Newsnight, last night, reluctantly agreeing with Darling's part-nationalisation of the bankrupt banking sector. He bleated on about regulation in a free market economy, but his approval of nationalisation speaks volumes coming from the Right.

And of the monster foreign policies attributed to New Labour - the chasing of the mythical beast Al Qaeda and the invasions of Iraq and Afghanistan - the Conservatives were invariably fully behind all of that. No doubt glad it was Blair's lot rather than their own who were taking the flak.

I think in truth, both parties have little wiggle room for independent thinking. They are micro-managed by the same think-tanks and foundations and are ultimately answerable to the same international financiers.

MiserlyMartin

If Brown hadn't squandered all that tax revenue in the boom years then we would be better placed to weather this storm. If Brown had ensured proper regulation of banks lending we would not have found ourselves in such a mess. He was in charge of the treasury for 10 years. He claimed to have ended boom and bust but instead caused a huge boom which had to bust - only he thought it wouldn't ever bust which is why we have no surplus. Now the tories would not have done this.

This is why that, far from feeling any gratitude to this awful government for 'rescuing us' I am feeling very angry that they got us into this mess in ther first place and even more angry that this is going to cost each taxpayer so much money. I hear different figures from £2000 each to 16K for every taxpayer in the UK!!! Meanwhile the bankers are in the Bahamas with their bonuses.

With the rate cuts today he will cause even higher inflation which will eat our savings - to use Martin Lewis's words they will be 'losings' accounts now. Our inflation is too high to participate in the co-ordinated rate cutting exercise.

cheekykid

Cactus_Jack wrote: »

If the points in the OP are true, I want to see people going to jail over the Icesave fiasco.

We must all organise ourselves to try to serve some justice. Maybe we should sue Iceland due to the stress!

I'm proud the Government has guaranteed my savings.

Very right. Surely lieing to people in order to deceive them must be illegal?

Joe65_2

Didn't we go to war over a lot less in the seventies.
http://www.kwintessential.co.uk/articles/article/Iceland/Cod-War-in-Iceland/527
when it was worth less than $70 million per year (or ~$1 per person) to the economy.

Fortunately today it's replaced by filling in forms, but the petulance still prevails.

pumpndump

WARNING - ATTENCION - ACHTUNG

You must me careful about what you say about Iceland.

All I said was that these Icelandic banks were two-bit setups run by amateurs in a pokey little country that makes its money out of selling fish. I was assailed by an entity called Scompeti (I think that's the name), and was accused of being a racist.

Now, you may say that Iceland is a country and not a race, and you'd be right.

But when Scompeti sees what you people have written he/she will be hopping mad.

You have been warned. Be afraid. Be VERY afraid,

dougz_2

What seems particularly dodgy to me is the way yesterday icesave somehow clawed back customers withdrawals that were processed from days before they went bust. I just hope that money will go towards compensating the same customers, and has not been siphoned off to Iceland thus adding to what the UK will have to meet.

Andrew64

Never, never, never again will I use a foreign bank! I'm keeping all my money in Britain from now on. Everyone would be well advised to do the same.