Icesave compensation payouts... how to keep the pressure up

derbyjon

meunier wrote: »

Fixed term accounts are paid at the maturity date with the interest that would have been paid by the bank at maturity date.

If I read that correctly, someone who opened a 3 year fixed term account on 1st October 2008, wouldn't receive compensation until 1st October 2011?

Scooby64

T'Pau wrote: »

Amazingly Iceland still sees itself as the injured party! :mad:

See here. Cheeky 2@!

:rotfl: It is quite remarkable - I guess the pressure is on for the FSCS to announce something by tomorrow

nilrem_2

T'Pau wrote: »

Amazingly Iceland still sees itself as the injured party! :mad:

“But I believe [the British authorities] have displayed quite exceptional harshness, which has shocked Icelanders.”

Ye Gods what does the man expect they stole our damn money! :mad:

baby_boomer

But by subsequently confiscating our own at Kaupthing we ensured its demise.

Although you can argue that was going to happen anyway - as I'm sure HMGov will do.

shindigger

T'Pau wrote: »

Amazingly Iceland still sees itself as the injured party! :mad:

See here. Cheeky 2@!

Is there a British delegation there or not?

This is PRECISELY why we need a day of action.
This is turning in to a sideshow. I really could throttle that !!!!ing PM.
I accept the timing needs to be worked on viz the Glenrothes and US elections, and maybe the venue needs to be thought about a bit more. (Icelandic embassy?)
But i feel we must proceed in the expectation that this will drag on.

We need to start planning something to publicise this giant game of International Financial Ping Pong.

If we dont, nobody else will, you can be sure of that.

mr_jetlag

The delay could be down to the FSCS / British gov trying to overplay its hand:

British authorities demand that Landsbanki’s assets in the UK be used to cover the bank’s debts in the country other than what it owes account holders in its online banking unit Icesave. That demand is not at all in line with the policy of the emergency legislation recently accepted by Iceland’s Althingi parliament, which assumes that Landsbanki’s assets in the UK will be used to repay Icesave deposit-holder.

Not that I trust these guys any farther than I can throw them, but it does seem the position with respect to the Icesave deposits is pretty much set in stone, it's just a question of HOW and WHEN.

Of course if everyone agrees, why can't the gov just get on with it and give us back our money?! Preferably before Christmas! :santa2:

ad44downey

If we'd declared war on Iceland and invaded you'd get your money alot quicker , that's for sure

LGG_2

taken from a icelandic paper so maybe the reporting is more inclined to support the goverment. hopefully the news isnt as bad/annoying as it seems and they will get sometihng agreed apon..

http://www.icelandreview.com/icelandreview/daily_news/?cat_id=16539&ew_0_a_id=314149

23/10/2008 | 12:18


No Solution on Iceland-Britain Banking Dispute
Despite hopes that Iceland and Britain would reach an agreement on a loan from British authorities so that Icelandic authorities could honor their obligations to Icesave deposit-holders, a solution on the banking dispute does not seem to be in sight.
A British delegation is currently in Iceland to discuss the terms of a potential loan. “We have not accepted the legal basis for their arguments,” Iceland’s Prime Minister Geir H. Haarde told Fr!ttabladid.
Haarde would not comment on whether the relations between the two countries had cooled down, but emphasized that continued talks are of importance. Otherwise no solutions can be reached. “But I believe [the British authorities] have displayed quite exceptional harshness, which has shocked Icelanders.”
Negotiation committees on behalf of the Icelandic and British governments discussed the Icesave dispute during a long meeting in Reykjav!k yesterday and will continue their talks today.
Haarde would not comment on whether a solution to the dispute can be expected shortly but emphasized that, if need be, the case will be taken to the courts, the conventional forum for resolving disputes on legal matters. Last week the prime minister announced that his government had hired an international law firm to look into Iceland’s legal position.
According to Fr!ttabladid’s sources, British authorities demand that Landsbanki’s assets in the UK be used to cover the bank’s debts in the country other than what it owes account holders in its online banking unit Icesave.
That demand is not at all in line with the policy of the emergency legislation recently accepted by Iceland’s Althingi parliament, which assumes that Landsbanki’s assets in the UK will be used to repay Icesave deposit-holder.
Haarde would not confirm that statement.
In terms of a potential application for a loan from the International Monetary Fund (IMF), Haarde said that work on a new economic forecast has delayed his government reaching a formal decision on the matter.
“There are many factors that we have to be taken into account, which may have changed drastically from what they used to be, so it is a lot of work and certain difficulties are involved in forecasting these figures,” the prime minister said.
Haarde added that it is clear that gross national product (GNP) will decrease and unemployment will increase. “Inflation depends on how we succeed in balancing the currency.”
Steingr!mur J. Sigf!sson, leader of the Left-Greens, the largest opposition party, said he is fairly certain that one of the terms of a loan from the IMF is that Iceland and Britain reach an agreement regarding Icesave.
Click here to read more about a potential IMF loan.

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Comment

altocumulus

ad44downey wrote: »

If we'd declared war on Iceland and invaded you'd get your money alot quicker , that's for sure

If we did, and then won (?), we'd have to pay them retribution...bad idea...
Wars often prove expensive for the winners.....

T'Pau

LGG wrote: »

snip

See post #131. Links take up less space.