Will we see our Icesave cash before Christmas

JayTee99_2

Iceland's PM, Haarde, was on Bloomberg TV earlier this evening talking about a possible IMF loan,
also, he was very positive about 'state debt', but totally non-committal when pushed on the banks' debts!

in his own words when asked "would everyone owed money by the banks be paid?", he talked about selling assets and said :

"there's no hurry, we'll do it in a measured way, when we see fit"

So that's clearly the cause of the delay!

you can pressurise the govt, but i suspect that they will want to seal a deal with Iceland before they start dishing any money out, otherwise Iceland may just default or use delaying tactics.

AB31

JayTee99 wrote: »

... you can pressurise the govt, but i suspect that they will want to seal a deal with Iceland before they start dishing any money out, otherwise Iceland may just default or use delaying tactics.

This is my view too which I've expressed on the other Icesave thread ("11 Days later ..etc...). Incidentally, it's confusing having two parallel threads on this topic discussing exactly the same issues. On most other forums the Mods would have merged them long before now.

I suspect that all of us (retail depositors included) are currently being used as pawns in HMG's ongoing "negotiations" with the Icelandics in order to maintain pressure on them to hurry up with the liquidation.

In principle however there's no reason why retail depositors can't be paid out very quickly and independently of progress with the Icelandics, as the necessary funds (in fact a loan with a top up grant) can be provided by HMT to FSCS, in the same way as was done in respect of Bradford & Bingley and Kaupthing Edge.

st

AB31 wrote: »

This is my view too which I've expressed on the other Icesave thread ("11 Days later ..etc...). Incidentally, it's confusing having two parallel threads on this topic discussing exactly the same issues. On most other forums the Mods would have merged them long before now.

I suspect that all of us (retail depositors included) are currently being used as pawns in HMG's ongoing "negotiations" with the Icelandics in order to maintain pressure on them to hurry up with the liquidation.

In principle however there's no reason why retail depositors can't be paid out very quickly and independently of progress with the Icelandics, as the necessary funds (in fact a loan with a top up grant) can be provided by HMT to FSCS, in the same way as was done in respect of Bradford & Bingley and Kaupthing Edge.

totally agree we need one ICESAVE thread now and we still need to keep it alive unitlk we have had full confirmation of our refunds

ebyard

JayTee99 wrote: »

you can pressurise the govt, but i suspect that they will want to seal a deal with Iceland before they start dishing any money out, otherwise Iceland may just default or use delaying tactics.

True, but the UK govt has seized Landsbanki's assets in the UK, so if Iceland start delaying, we just sell the assets, free the cash and we all get our money back. There should be some timescale supplied otherwise we'll be waiting around for ever....

JayTee99_2

ebyard wrote: »

True, but the UK govt has seized Landsbanki's assets in the UK, so if Iceland start delaying, we just sell the assets, free the cash and we all get our money back. There should be some timescale supplied otherwise we'll be waiting around for ever....

Yes, they could just sell the assets, as a last resort, but obviously it's in everyone's interests to try and sort it out with the Icelandic govt, who now own the banks.
The last i heard, our govt was intending to make a small loan to Iceland, specifically for this purpose, to free up the assets. So to be fair, our govt is driving this through, but there is obviously going to be a little delay while negotiations take place.

i'm sure there will be an announcement fairly soon,
What doesn't help is stupid statements from the Icelandic PM suggesting no urgency..

amistupid

JayTee99 wrote: »

The last i heard, our govt was intending to make a small loan to Iceland,

A small loan of £100 million according to this:

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4936983.ece

FraudBuster

On most other forums the Mods would have merged them long before now.

Agreed. I suspect that the Mods have been told to keep a low profile, especially as they did nothing about all the posters who were ramping Icelandic Banks until the day they crashed.

amistupid

Posted on a similar thread:

http://news.bbc.co.uk/1/hi/business/7677639.stm

Seems to explain clearly the current situation regarding the state of compensation.

Dan_66

Martin Lewis's deafening silence this past week has really angered and upset me.

I have been a fan of his and this website for years and he appears to have lost his voice when it comes to representinig our case to the media just at a time when interest in our story needs to be maintained.


Even the promise to update the 'Are my savings Safe' section with any news '3 times a day' isn't being fulfilled. It doesn't even carry the details of the latest statement from the FSCS (17th October)-regarding 'innovative solutions'

Come-on Martin-do what you do best and champion the cause for all of the Icesave depositors by speaking up now!

st

Dan_66 wrote: »

Martin Lewis's deafening silence this past week has really angered and upset me.

I have been a fan of his and this website for years and he appears to have lost his voice when it comes to representinig our case to the media just at a time when interest in our story needs to be maintained.


Even the promise to update the 'Are my savings Safe' section with any news '3 times a day' isn't being fulfilled. It doesn't even carry the details of the latest statement from the FSCS (17th October)-regarding 'innovative solutions'

Come-on Martin-do what you do best and champion the cause for all of the Icesave depositors by speaking up now!

likewise I have being posting all week for Martins help but no reaction or response - having stood up for Martins defence now I feel let down -he is the man with contacts and pr but sadly nothing