No Solution on Iceland-Britain Banking Dispute

MrExample

Tom_Jones wrote: »

I don't care one iota about the people of Iceland, and personally I hope they are sufferring very harshly due to the action of their banks and government. The Icelandic government have taken 79k of my families money without my permission, if that's not stealing I don't know what is ? Sell all the assets our Govenment have seized and pay us NOW !!

I wonder how much responsibility you take for the actions (particularly foreign policy) of your government. I can think of a few examples far worse than theft...

Personally, I think that the UK authorities should be taking quite a large chunk of the blame for this mess. This scheme was devised over here, and the powers that be should have made sure that there was money in the Icelandic pot to pay for the Icelandic part of the deal -- or, better scrapped the scheme and forced them into the full FSCS.

bjorn_again

MrExample wrote: »

I wonder how much responsibility you take for the actions (particularly foreign policy) of your government. I can think of a few examples far worse than theft...

Personally, I think that the UK authorities should be taking quite a large chunk of the blame for this mess. This scheme was devised over here, and the powers that be should have made sure that there was money in the Icelandic pot to pay for the Icelandic part of the deal -- or, better scrapped the scheme and forced them into the full FSCS.

Could'nt agree more. I feel that deregulation is more than 90% to blame for this. If a Bank is alowed to trade or be marketed in the UK, then the British Govt should ensure that it complies with UK regs. Otherwise it is similar to allowing drivers from 3rd World countries with their own dubious licences to drive on our roads. I don't think the people of Iceland should be pillioried for the actions of theirs or our leaders.

StevieJ

meanmachine wrote: »

Dear god, are you on mogadon?!!!

This has to end within days, not weeks, or years.

Time to liquidate Iceland's assets and - I'm afraid - repatriate any Icelanders that are here.

As I say, this must end sooner rather than later.

Day of action looks guaranteed.

Now how are all the wet and wooly types on this site feeling with your "do nothing" appeals? Pathetic.

:mad:

Well this wet and woolly type took most of his money out before they blocked the accounts.

neil324

Ok guys & gals people need to clam down.

Quickly gone through this thread and the only positive thing to stand out to me was the reference that the IMF was only willing to give Iceland a loan when this dispute was settled.

baby_boomer

meanmachine wrote: »

Could you ask God whether he can smite Iceland and get my money back?

C'mon meanmachine. You will get it back. Don't get too down about it.

We all know that you're not going to need it for a house deposit until you are sure that every last drop has been squeezed out of the house price crash

Which won't be any time this year.

codetown

bjorn_again wrote: »

I am sorry that you feel you have been robbed or mugged, however, the truth of the matter is that when you deposit money in a Bank, you give it license to do whatever it will with that money in order to provide you/it with a profit. Exceptions being when you invest/deposit with a Bank that displays a moral code such as the Co-op.
Even then when it all goes wrong you and the Bank takes the hit. You see, regardless of how you look at it, if you hand over your money to someone-else for safe-keeping you take a risk. My sympathy is with you but it is also with the people of Iceland who are equally as innocent in all this.

Guy: law is regulating pretty well such basic accounts as Icesave.
A default is a possibility which is already forecast and this is why a compensation scheme is thought of from the start.
The problem with Iceland is that they are not keeping up with their committments towards the compensation, and that is all.
It is not up to the savers judge how Icesave uses the money it gets lent, but it is up to the savers and to the UK law to come into play when the Icesave responsible are refusing to keeo up their committments.

Think to Icesave as a bank. Noone wants accidents, but everyone is insured against it. When you get hit by someone you pretend to be paid for damages. Now it is time for Icesave to payback and to keep up with the compensation scheme they signed to. If they don't I doubt they will ever be able to build a foreign business anywhere in the world for the next 50 years!

1echidna

meanmachine wrote: »

So when some little old lady is koshed over the head and her handbag stolen from her, do you tell her off for not feeling sympathy for the poor old burglar?

If you think the situation is analogous and by implication the Icelandic people should be sent to jail for ten years you are more of a fool than I thought. As I have already said the situation is more analagous to the situation of someone having difficulty in repaying their mortgage. Brown means "illegal" in the civil not criminal sense I expect.

chesky369

People are quite likely to get a bit tetchy when they are left in a state of limbo, with no real information.
At the very start of this mess, Icesave savers had a really dreadful 24 hours or so when they thought they may have seen the last of their savings.
Then, Oh Joy! Darling Mr Darling told us we were all saved. Great relief all round and we sat back, happy in the knowledge that - give or take a few weeks or months - we would be OK.
But then, nothing. The people who are charged with the task of repaying savers monies seem to know as much as we do about the timing, process, financial details. In short, b----ger all.
So, I guess, most people like me who were simply relieved things would work out OK at some point, are now feeling a bit more wobbly. And that makes me frightened, which makes me angry. So words are going to fly a bit and there's nothing that makes folks even angrier than born-again trolls, telling us to be nice to people who up to recently have been doing very nicely thank you. And, by the way, if I want to feel sorry for people, I think I would feel sorry for the poor devils in Darfur, rather than the well-fed people of Iceland.

JayTee99_2

neil324 wrote: »

Ok guys & gals people need to clam down.

Quickly gone through this thread and the only positive thing to stand out to me was the reference that the IMF was only willing to give Iceland a loan when this dispute was settled.

i hadn't realised the IMF were reading this thread..

Martin truly is a GOD !!!

MrExample

Tom_Jones wrote: »

I don't care one iota about the people of Iceland, and personally I hope they are sufferring very harshly due to the action of their banks and government. The Icelandic government have taken 79k of my families money without my permission, if that's not stealing I don't know what is ? Sell all the assets our Govenment have seized and pay us NOW !!

Also, if you'd bothered to read the Terms and Conditions, you would know that you DID give your permission.

Quote from the T&C's I have:

"we may temporarily cease or limit withdrawals from accounts for up to 60 days. This limitation on withdrawals will apply even if we have already received notice of a withdrawal from your account."