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

innovate

cwcw wrote: »

I think the treatment of us Icesavers so far (aside from those with over £50k, who have been quite lucky really) has been nothing short of diabolical.

If you refer to the icelandic authorities, I agree.

I for one am very greatful that the Government/the FSCS have taken it upon themselves to get Iceland to step up to their guarantee, somehow.

This is a complicated issue, it will take longer to sort out than anything that is entirely under UK / FSCS jurisdiction.

And it's only been two weeks - we all agreed to guarantees that can take up to 3 months (or longer, "in exceptional circumstances"). We might not have been aware at the time we agreed (I wasn't, to be honest, because I never thought I'd need the guarantee), so we now have to live with what was our decision to put our money where we put it. Nobody forced us to do what we did.

Can't we all calm down a little, and be at least a tad greatful that we don't have to claim (part of) our money back individually from Iceland.

shindigger

innovate wrote: »

Might that be because we were the only ones who had the first £17k (or thereabouts) guaranteed under a passport scheme?




I suppose the negotiation team is on job to do exactly that. And we should be greatful that they do - because we have all accepted T&Cs that stipulate that we have to claim back money from Iceland. Why do people keep forgetting that?




Good luck. I'll continue to distance myself.

Then go to the back of the queue. You have far too much faith in the media driven British political system. Im only advocating attempting to use their tools against them. I have a lot of money tied up by that spiv Haarde, i can only assume that your stake is ephemeral. Youre lucky.

innovate

meanmachine wrote: »

Do that provided you agree to put yourself at the very back of the queue when the compensation does finally get handed out (sometime in 2025 at this rate).

Deal?

:rolleyes:

Well, that's were you and I fundamentally disagree.

You seem to think a public protest would make a difference to speed at which the negotations with Iceland, and the payment of our money, can happen.

I don't think it wouldn't speed it up at all, probably the contrary, because people involved in getting things sorted would need to divert some of their time to deal with the worriers (or should I say warriors).

shindigger

innovate wrote: »

If you refer to the icelandic authorities, I agree.

I for one am very greatful that the Government/the FSCS have taken it upon themselves to get Iceland to step up to their guarantee, somehow.

This is a complicated issue, it will take longer to sort out than anything that is entirely under UK / FSCS jurisdiction.

And it's only been two weeks - we all agreed to guarantees that can take up to 3 months (or longer, "in exceptional circumstances"). We might not have been aware at the time we agreed (I wasn't, to be honest, because I never thought I'd need the guarantee), so we now have to live with what was our decision to put our money where we put it. Nobody forced us to do what we did.

Can't we all calm down a little, and be at least a tad greatful that we don't have to claim (part of) our money back individually from Iceland.

Despite what i have written in other posts, i have to agree with most of what youve written here.
However, i would ask how you might feel by December 7th, if nothing more concrete has emerged.
If the gubmint issue a timetable that maps out their course of action and what we might expect from same, then we could easily call off any demo. BUT it is my opinion that we need to gear up for something early December IN ANTICIPATION of inaction by FSCS/HMG.

cwcw

innovate wrote: »

Well, that's were you and I fundamentally disagree.

You seem to think a public protest would make a difference to speed at which the negotations with Iceland, and the payment of our money, can happen.

I don't think it wouldn't speed it up at all, probably the contrary, because people involved in getting things sorted would need to divert some of their time to deal with the worriers (or should I say warriors).

I don't think anyone is suggesting it would speed things up with Iceland. What it might do is kick our government into action to compensate us FIRST, if only to shut us up, and worry about getting the money of Iceland later (they have £4bn of their assets as collateral).

innovate

shindigger wrote: »

Then go to the back of the queue. You have far too much faith in the media driven British political system. Im only advocating attempting to use their tools against them. I have a lot of money tied up by that spiv Haarde, i can only assume that your stake is ephemeral. Youre lucky.

LOL, you do make me laugh, not least because you are making all sorts of assumptions about how much, or how little, I might have tied up in this debacle. Rest assured, my stance on the matter isn't influenced by the amount of money I have frozen right now - I am just trying to be realistic about how long complicated inter-nations discussions can take, especially in the light of the financial crisis.

Not entirely sure what the "media driven British political system" has to do with my position on the matter, but no need to explain.

shindigger

innovate wrote: »

LOL, you do make me laugh, not least because you are making all sorts of assumptions about how much, or how little, I might have tied up in this debacle. Rest assured, my stance on the matter isn't influenced by the amount of money I have frozen right now - I am just trying to be realistic about how long complicated inter-nations discussions can take, especially in the light of the financial crisis.

Not entirely sure what the "media driven British political system" has to do with my position on the matter, but no need to explain.

OK. Each to his own. Carry on. Nothing to see here.
Each of us will do what we see fit, in these circumstances.

innovate

cwcw wrote: »

I don't think anyone is suggesting it would speed things up with Iceland. What it might do is kick our government into action to compensate us FIRST, if only to shut us up, and worry about getting the money of Iceland later (they have £4bn of their assets as collateral).

hmh, I think there's a fair chance that the UK Government only have the £4bn (if it is that much) for 28 days from when they seized it - - ie. for another 2-3 weeks (see the post from the person who bothered to read through the legislation under which the assets were frozen).

As I said before, I am of the opinion that the negotiation position of the UK team trying to strike a deal with Iceland would be significantly weakened if there were no savers who are owed money by Iceland. That would potentially mean that all of the compensation has to come out of the UK tax coffers, and that just doesn't sound right because Iceland would be let off too easily.

They got no money to pay us right now - but they might have some in future. And they have goods they trade to the UK. So there is room for finding a way that they re-pay any loan that they might get from the UK in the interim.

If you or I default on our obligations, we have to pay it back somehow, at some stage. Why not Iceland.

Dan_66

Innovate....said.."Not entirely sure what the "media driven British political system" has to do with my position on the matter".

That will be the media system that A. Darling used to comfort savers (by making such a rapid announcement) that you appear to be putting all your faith in!

innovate

cwcw wrote: »

What it might do is kick our government into action to compensate us FIRST

Honest, why would you want to kick the people who are already helping us?

Would you rather negotiate with the Icelandic authorities yourself to get your money back?

Our Government have been very quick and unbeauraucratic so far by taking the burden of claiming directly from Iceland off us.

We all had accepted the passport agreement, there was no obligation whatsoever on the UK authorities to assume the claim on our behalf. But they did. I can't bring myself to 'kick' the very people who are most likely the only ones that can convince Iceland to deliver on their promise.

Imagine the Government/FSCS just sloped shoulders and paid us the FSCS guarantee now - - most, if not all of us, would then have to simply write off the maximum amount 'guaranteed' under the Icelandic compensation scheme because hell would freeze over before any of us individually would get our money back from Geir Haarde. That wouldn't be exactly good, would it.