UK to lend Iceland £3bn for Icesave compensation

nilrem_2

ajaxgeezer wrote: »

hmm... just wondering why you felt the need to be (or certainly appear to be) sarcastic when someone like me - with little knowledge of the machinations of these things - admits that it's all a bit bewildering and asks very politely that someone be kind enough to share any knowledge they have. That sarcasm was unwarranted, unnecessary and misplaced.
.

I wouldn't worry about it too much Ajax, it was tame to some of the remarks I have received via this forum, I have even received abusive personal messages after comments I have made, so much so that I have now turned off pm's! :eek:

KingL

@ ajaxgeezer - the answer to your original question is "no, nobody is confident of what will happen and when". There is no way that anybody can be confident (of their knowledge) given the current state of information that is available to the public.

As you rightly observe there is much chaff with the wheat

will we/won't be be paid interest? Will we be paid by the Treasury/FSCS of will they liquidate the Icesave accounts to allow withdrawal? Is the FSCS a 3-month or 6 month guideline? Eveyone points to a different clause in a different publication and they usually contradict each other

The current chaff to wheat ratio exists because nobody is confident(ly knowledgable) about the exact situation currently. Presumably this will improve as more information emerges from the official sources. Anything else is speculation.

nilrem_2

KingL wrote: »

Anything else is speculation.

Very true, the only thing we can be sure of is that we will get our deposits back at some point.

MarkyMarkD

ajaxgeezer wrote: »

hmm... just wondering why you felt the need to be (or certainly appear to be) sarcastic when someone like me - with little knowledge of the machinations of these things - admits that it's all a bit bewildering and asks very politely that someone be kind enough to share any knowledge they have. That sarcasm was unwarranted, unnecessary and misplaced.

1. It was misplaced because the headline you referred to is incorrect in that it's old and not updated three times a day any more - it hasn't been for ages (if it ever was). Usually 'news' appears in other publications and then gets discussed on here.

2. It was unnecessary because I simply asked that someone with a knowledge higher than mine shared their knowledge with me in a format that I could understand. I'm not very good with words or finance - not everyone can be, but irrespective of that we (us Icesavers) are all in the same boat.

3. It was unwarranted because it made me feel bad that someone would appear to use their post and sarcastic smiley simply to belittle someone. There can be no other reason other than "you could". It's intellectual bullying, pure and simple. Now, had I given you a reason to become aggressive or even touchy then I could perhaps understand your spines pricking up but that wasn't the case. Why adopt that tone?

You could have just ignored me if you didn't want to answer. I know it gets frustrating saying the same things to the same people, but in this forum environment it's easy to ignore someone you perceive as unworthy rather than belittle them. I asked my question because all of the wheat of the Icesave situation is surrounded by a lot of chaff - will we/won't be be paid interest? Will we be paid by the Treasury/FSCS of will they liquidate the Icesave accounts to allow withdrawal? Is the FSCS a 3-month or 6 month guideline? Eveyone points to a different clause in a different publication and they usually contradict each other.

Under those circumstances I don't think it unfair to ask my question of whether anyone "is confident what will happen and when?" without feeling that I should be intellectually bullied and made to feel bad just because someone wants to do it.

I wasn't being sarcastic and belittling. The fact is that nobody who posts on this forum has the slightest idea when people will get their money back. Anyone speculating is doing just that - and is no more credible than anyone else.

If Martin isn't updating his editorial pages - and I might be being naive in believing his headline, but I think that damned sure he would update it if there was some material news, and it would also immediately get posted on here as a new thread - then that's a bad thing.

My basic point is that there's no point posting "does anyone know what's going to happen", because nobody DOES know.

Endless speculation is a waste of people's energy typing and reading.

bjorn_again

going2die_rich wrote: »

It would have been easier telling the Icesavers they aren't getting anything. Save the taxpayer all this burden for the gain of a few.

I guess that he only part of this post that can be guaranteed is the first part of your user name ie the bit before the underscore

TypeR

Not the best of news!

Talks aimed at recovering £4bn in deposits held by UK customers in the failed Icelandic bank Icesave have broken up without result.
Treasury officials and their Icelandic counterparts are seeking to salvage the funds placed in Icesave, at risk after its parent firm Landsbanki folded.
The bank's collapse fuelled a diplomatic row after the UK government froze assets of other Icelandic banks.
An Icelandic official said the talks would resume but did not say when.
'Not over'
"This round of discussions has ended but talks are not over and will be continued in the very near future," a government spokesman said.
The fate of 300,000 UK Icesave customers, caught up in the collapse of Iceland's banking sector, sparked a heated row between the UK and Icelandic authorities earlier this month.
The UK has guaranteed the deposits of all UK private depositors in Icelandic banks.
But part of the compensation for Icesave's UK customers should come from Iceland because the bank is not registered in the UK.
Gordon Brown accused his Icelandic counterpart of "unacceptable" and "illegal" behaviour after Iceland said it could not give a guarantee to reimburse UK customers of the online bank.
In response, Icelandic PM Geir Haarde accused the UK government of "bullying" and bringing down one of its other banks after the Treasury froze the assets of Icelandic institutions in the UK.
The two countries have since pledged to work together to resolve the impasse and the UK has lent Iceland £100m to help it meet some of the cost of Icesave deposits. At a meeting earlier this month in Reykjavik, officials from both sides said progress had been made.