No Solution on Iceland-Britain Banking Dispute

f_@_w_y

this is a real mess now...

Shud we be with UK or Iceland now???

cloud_dog

Bromley86 wrote: »

Looks like cloud_dog is going to have to emigrate to Iceland, home of the honest (if a little dim) politician .

I think I'm ok ftm, based on the amount of discussion around 'did they', 'didn't they', etc, etc. I'll cling to it being a bit ambiguous.

Babycakes

Dispute over Icesave delays IMF's rescue of Iceland

CFA Institute Financial NewsBrief | 10/24/2008
The International Monetary Fund is reportedly requiring Iceland to settle its dispute with Britain over money held by U.K. savers in Icesave, which is part of the recently nationalized Landsbanki, before deciding on an emergency rescue plan for the nation. The package, likely to be backed by central banks from Scandinavia and Japan, could total as much as $6 billion. Times (London), The (10/24)

http://www.smartbrief.com/news/cfa/storyDetails.jsp?issueid=35615086-535D-4266-AE49-9B494B73EFC3&copyid=81E7C48E-A6C5-4ABA-9382-5CBF23C83E2A

neil324

Babycakes wrote: »

Dispute over Icesave delays IMF's rescue of Iceland

CFA Institute Financial NewsBrief | 10/24/2008
The International Monetary Fund is reportedly requiring Iceland to settle its dispute with Britain over money held by U.K. savers in Icesave, which is part of the recently nationalized Landsbanki, before deciding on an emergency rescue plan for the nation. The package, likely to be backed by central banks from Scandinavia and Japan, could total as much as $6 billion. Times (London), The (10/24)

http://www.smartbrief.com/news/cfa/storyDetails.jsp?issueid=35615086-535D-4266-AE49-9B494B73EFC3&copyid=81E7C48E-A6C5-4ABA-9382-5CBF23C83E2A[/quote]

This is good news, puts that Icelandic PM on the spot now. Sort it out or no loan very simple:beer:

shindigger

neil324 wrote: »

Babycakes wrote: »

Dispute over Icesave delays IMF's rescue of Iceland

CFA Institute Financial NewsBrief | 10/24/2008
The International Monetary Fund is reportedly requiring Iceland to settle its dispute with Britain over money held by U.K. savers in Icesave, which is part of the recently nationalized Landsbanki, before deciding on an emergency rescue plan for the nation. The package, likely to be backed by central banks from Scandinavia and Japan, could total as much as $6 billion. Times (London), The (10/24)

http://www.smartbrief.com/news/cfa/storyDetails.jsp?issueid=35615086-535D-4266-AE49-9B494B73EFC3&copyid=81E7C48E-A6C5-4ABA-9382-5CBF23C83E2A

This is good news, puts that Icelandic PM on the spot now. Sort it out or no loan very simple:beer:

Thats how i see it and have posted same.
I too, would like to buy the IMF a pint.

CHR15

Where does all this talk of only £16K come from (so many posts to wade through).

I can only see the £35K (or £50k) protection level.

I didn't put my money on red on a roulette wheel for someone to gamble with, I put it in a guaranteed savings account and kept below the £35 advertised guaranteed protection.

amistupid

http://www.icelandreview.com/icelandreview/daily_news/?cat_id=16539&ew_0_a_id=314205

I've read the "alleged edited transcripts" between Darling and his Icelandic counterpart Noggin the Nog, but I've heard on good authority that this is what was really said:

Telephone operator to Darling:"I've got a reverse charge call fom Iceland, will you accept?"
Darling: "Damn cheek, but put it through!"
Noggin: " We're skint, you're skint but I've heard there's a bloke called Ollie Gart, moored in a big boat off Corfu, they reckon he's good for a Krona or two!
Darling; "Splendid, we'll pop over for a cuppa. Are you paying?
Nogin: "We're getting like a married couple always bickering about money"
Darling: "Are you paying!"
Noggin: "Okay, but it's coming out the Icesave fund and there's not much left!"
Darling: "Right I'll pack me Speedos. Don't forget your passport"
Noggin: "Don't need it anymore we've opted out of the scheme!"

:rotfl:

Stormy

CHR15 wrote: »

Where does all this talk of only £16K come from (so many posts to wade through).

I can only see the £35K (or £50k) protection level.

I didn't put my money on red on a roulette wheel for someone to gamble with, I put it in a guaranteed savings account and kept below the £35 advertised guaranteed protection.

16K was the initial ammount which should be covered by the Icelandic compensation scheme which of course as we now know cannot afford it.

The rest should come from the UK FSCS as part of the passport scheme.

Mike

clarkkento

I know we will all have read this before

"In a statement on 9 October 2008, HM Treasury stated that the chancellor has put in place arrangements that all retail depositors in Icesave will receive their money in full."

And apologies if i am being simple, but I reckon its time we found out about these arrangements.

These "arrangements" were put in place when it was stated that Iceland wouldn't cover their part of the bargain.

So come on its time, we are becoming very restless.

Too much delay and speculation.

shindigger

CHR15 wrote: »

Where does all this talk of only £16K come from (so many posts to wade through).

I can only see the £35K (or £50k) protection level.

I didn't put my money on red on a roulette wheel for someone to gamble with, I put it in a guaranteed savings account and kept below the £35 advertised guaranteed protection.

As i see it. Britain will not top up any savings until they know that the first £16k of everybodys money is met by the Icelandic Government. We are to an exent being used as a chip in the game.
This £16k will be covered by a loan, either from the IMF or from the UK. The rest of our deposits will come from the treasury. With this money possibly funded in time by the seized assets.
The IMF have stated that their loan is contingent on Iceland sorting us out first. That puts that slimeball Haarde over a nice big round barrel with his !!!! in the air.
Queue here.......

All the people who are posting here about only getting the UKs bit minus the Icelandic £16k are just finding new stuff to worry about in my opinion.