No Solution on Iceland-Britain Banking Dispute

climbgirl

Stormy wrote: »

grrrrrrrrr.. I am tired of hearing "fast tracked, shortly etc etc" when in actual fact we hear pretty much NOTHING concrete.

Yeah, this fast-tracked solution they're working on better be darn good! I'm hoping for a "they're all accounts linked to another current account, we'll just go in, see how much you had and send it back to you via chaps. you'll get it within a week".

But I'm expecting a "we're working on it, we'll let you know sometime in 2009. maybe."

shindigger

McElais wrote: »

http://www.channel4.com/news/articles/business_money/darling+iceland+couldnt+cope/2638072


Video clip here:

http://link.brightcove.com/services/link/bcpid1184614595/bctid1875983107


Still doesn't explain why the Dutch government have sorted things out for their Icesave depositors whilst we are all in limbo.

I find that clip moderately encouraging.
Might it be that the Dutch claim is significantly smaller?

stevetodd

CHR15 wrote: »

If they hadn't stole our money, no-one would have been treated Harshly

If they think we have been harsh so far wait until The Scotland V Iceland world cup qualifying match!

climbgirl

LesU wrote: »

There seems to me to be two fundamental things which need to be addressed before we get our money back. Is the Icelandic Government going to stump up their bit, before the British Government pays the rest and secondly, what will the mechanism be to do the repayment?

i.e. How will the ISA's be handled, what about interest, fixed term deposits, the physical transfer of the money?

All these things don't have to be on hold, they can be worked out and transmitted to us on a regular basis via the FSCS web-site. Why is there such a stunning silence from everybody?

Completely agree, details on how ISAs will be handled, interest payments etc are completely separate from whehter or not Haarde will honour his legal obligations. These details should be coming out now in some depth, they've had a few weeks to sort this out now.

I'd also like some kind of vague timetable - are you going to pay us and then claim it back from Iceland or are we going to have to wait for them to pay first? That at least would give us a ballpark timeframe.

Their lack of communication is appalling.

T'Pau

LesU wrote: »

I'm not totally convinced that the highups in the FSCS know how to handle this type of scenario.

Well, they're paid enough! Furthermore, the way things are going they'd better get used to it!

CHR15

stevetodd wrote: »

If they think we have been harsh so far wait until The Scotland V Iceland world cup qualifying match!

This may well be the first time I have supported Scotland in a Football Match :beer:

T'Pau

Just checked the Icesave web site. Nothing.

If they do publish anything it is not going to be until after the call centre closes, is it. :rolleyes:

Ditto for FSCS. I think it was about 19.00 last Friday. Another holding statement beckons.

Bromley86

EDIT: Sorry, didn't refresh the window so this is an answer to a post back on page 7!

clarkkento. That cutting was a little too selective. That particular part of the conversation really relates to the 100% guarantee of Icelandic (retail?) depositors not being applied to UK retail depositors.

Of course, my reading of the transcript was that Iceland wanted to cover local deposits first and then see if there was enough left for the £16k guarantee, which is bang out of order. That £16k should be carved in stone (and promptly paid) even if they have to eat blood sausage for the next century.

We're not blameless in the post-collapse shenanigans though. Now we've frozen the money, I suspect that the UK government is pushing for UK non-retail deposits to be moved ahead in the queue. Great for us, but not for Iceland (or any other country exposed to Landisbanki). Still, we wouldn't be here if the silly sods hadn't forced the issue by not saying the £16k guarantee was solid from day one.

climbgirl wrote:

The Dutch gave Iceland a loan to cover the deposits. The UK offered a loan but it was rejected because of strings attached (probably that they had it pay it back or something!).

Priceless

McElais

CHR15 wrote: »

This may well be the first time I have supported Scotland in a Football Match :beer:

That fixture takes place on 1 April 2009. Let's hope we don't need to wait that long!

T'Pau

McElais wrote: »

That fixture takes place on 1 April 2009.

How apt.