No Solution on Iceland-Britain Banking Dispute

StevieJ

JayTee99 wrote: »

That annoyed me and others too..

Everytime Haarde appeared on TV during that first week he emphasised over and over that all the banks were fully operational for domestic customers.
no word at all for all the foreign investors/savers

Hardly helpul to us Brits..



ps Stevie, it's 50k, not 35k that's covered.

50k Guarantee only came in on 7th Oct, when they put the cash up it was 35k.

StevieJ

shindigger wrote: »

Which explains plenty.

I did say most, not all.

bjorn_again

clarkkento wrote: »

Lets face it we are being f****d around and there is not a thing we can do about it, and as for the half wits who state that putting money into bank gives them free licence to do with it what the please, what?? including go bankrupt?? rubbish!! If thats the case why do you have money in a bank?

Its a safe place for our money, that is why it is regulated. But the regulators have failed us.

I am not happy, all this feel sorry for the poor icelandic people??? their money has been guaranteed by their government and it is us they are taking advantage of.

I say cut to the chase, and start selling their UK assets NOW!! they should be bending over backwards to help us get our money back just to show the world they can be trusted. We are doing our best to help them by offering a loan..

They are doing a good job of contributing to their own people demise.

For the unintiated - it is All the Icelandic people who will suffer. It is not just those who had savings in Landsbankki - for God's sake look beyond the God of Mammon for your spiritual sustanance

JayTee99_2

bjorn_again wrote: »

For the unintiated - it is All the Icelandic people who will suffer. It is not just those who had savings in Landsbankki - for God's sake look beyond the God of Mammon for your spiritual sustanance

but we have Martin .... what more can there be?


i guess your getting the msg by now

bjorn_again

clarkkento wrote: »

Lets face it we are being f****d around and there is not a thing we can do about it, and as for the half wits who state that putting money into bank gives them free licence to do with it what the please, what?? including go bankrupt?? rubbish!! If thats the case why do you have money in a bank?

Its a safe place for our money, that is why it is regulated. But the regulators have failed us.

I am not happy, all this feel sorry for the poor icelandic people??? their money has been guaranteed by their government and it is us they are taking advantage of.

I say cut to the chase, and start selling their UK assets NOW!! they should be bending over backwards to help us get our money back just to show the world they can be trusted. We are doing our best to help them by offering a loan..

They are doing a good job of contributing to their own people demise.

1. What are your expectations of a Bank when you deposit your money with it??
Are you happy for that Bank to put your money on a horse and let it run last?

2. There are thousands of ordinary Icelandic people who will suffer as a result of the collapse of Landsbanki, even if they did'nt have money in the Bank.

3.As to the half-wits who put money into Banks giving them licence to do as they please. Just what do you expect of your Bank other than returning a profit for YOU?
I am sorry if you have money tied up in Icesave - join the queue - but please accept your own part in this very temporary little glich. May God bless you.

MrExample

JayTee99 wrote: »

That annoyed me and others too..

Everytime Haarde appeared on TV during that first week he emphasised over and over that all the banks were fully operational for domestic customers.
no word at all for all the foreign investors/savers

Hardly helpul to us Brits..

True, this was annoying, but remember that Landsbanki is one of the main banks in Iceland. The Icelandic people presumably have their salaries paid directly into the accounts, buy their day-to-day living essentials, etc.. On the other hand, the vast majority of Brits using Icesave were *savers*. People with ISAs and long-term savings. Imagine if one of the major UK banks suddenly stopped all operations and said "sorry, you can't have your money. We've got an agreement with country X to compensate their savers.". Given all the bad news, it's quite probable there was going to be a British "run" on the savings.

We've been hearing the same rubbish from bank heads over here. They lie all the way until the last minute. I hear banks may even be able to avoid publishing financial statements for a while, so we won't even know when an organisation is having difficulties.

bjorn_again

JayTee99 wrote: »

but we have Martin .... what more can there be?


i guess your getting the msg by now

and the message is??????

JayTee99_2

bjorn_again wrote: »

1. What are your expectations of a Bank when you deposit your money with it??
Are you happy for that Bank to put your money on a horse and let it run last?

2. There are thousands of ordinary Icelandic people who will suffer as a result of the collapse of Landsbanki, even if they did'nt have money in the Bank.

3.As to the half-wits who put money into Banks giving them licence to do as they please. Just what do you expect of your Bank other than returning a profit for YOU?
I am sorry if you have money tied up in Icesave - join the queue - but please accept your own part in this very temporary little glich. May God bless you.

That's novel Bjorn, UTTER TOSH, of course..

a bank fails and it's the fault of the savers/depositors....yeah..right



msg, Bjorn? how about if you want to preach religion, then maybe a moneysavingexpert.com type of site isn't perhaps the best choice..

Patr100

bjorn_again wrote: »

1. What are your expectations of a Bank when you deposit your money with it??
Are you happy for that Bank to put your money on a horse and let it run last?

2. There are thousands of ordinary Icelandic people who will suffer as a result of the collapse of Landsbanki, even if they did'nt have money in the Bank.

3.As to the half-wits who put money into Banks giving them licence to do as they please. Just what do you expect of your Bank other than returning a profit for YOU?
I am sorry if you have money tied up in Icesave - join the queue - but please accept your own part in this very temporary little glich. May God bless you.

Hmm, someone calling other people "halfwits" with constant superstitious appeals and references to an imaginary entity - maybe half a wit is better than none at all.

baby_boomer

Friday's news from the UK broadsheets

Times Online - IMF bailout of Iceland is delayed until fate of UK savers’ frozen cash is resolved

"Stalemate in talks between Iceland and Britain over the fate of the money from UK savers that is frozen in an Icelandic bank was being blamed last night for delaying a bailout of the stricken North Atlantic economy.

The International Monetary Fund is believed to be insisting that Reykjavik’s dispute with London over British savings held in Icesave, the UK offshoot of Iceland’s nationalised Landsbanki, is resolved before it will make a decision on the scale of emergency support [probably £3.7bn] for the tiny island nation...........
...........Petur Bloendal, chairman of the Icelandic Parliament’s tax and economic affairs committee, told reporters yesterday that he did not believe that Icelandic MPs would approve the proposals for a British loan.

He said that British and Dutch demands over Icesave accounts in the two countries amounted to the equivalent for every Icelander of three to four times the reparations that were imposed on Germany after the First World War.

Last night the Treasury insisted that it was continuing to talk to Reykjavik, despite the winding up of the present round of negotiations........

........ An Icelandic Government spokeswoman said: “This round of discussions has ended, but talks are not over and will be continued in the very near future.” She declined to give details of the talks or what progress was made, and did not give the exact date of the next round of talks........"

Telegraph - Outside risk of default on Russia's sovereign debt

So I guess that rules out help from Iceland's Russian friends. And the queue of countries that are going to need help from the IMF is lengthening. The IMF is pretty busy at the moment, putting together a package for early November to make funds available to avoid more sovereign default crises.

Robert Peston's BBC blog - Now there are runs on countries

FT.com - Transcript seems to challenge UK government's position on Iceland

"A transcript of a conversation [on 7 October] between the UK chancellor, Alistair Darling, and his Icelandic counterpart appears to question the British government’s claim that Iceland had refused to compensate UK savers....."

Independent - Belarus runs to the IMF and fuels fears for other emerging market debt defaults