We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

On Sky Now... Iceland to refuse to pay UK 2.3 Billion to savers

mbga9pgf
mbga9pgf Posts: 3,224 Forumite
in Debate House Prices & the Economy
Icesave....


Looks as if the government has another 2.3 bill to find from somewhere...

Also, Iceland is in breach of its loan agreements with the IMF... Might get interesting! :eek:
«134567…13

Comments

  • mr_fishbulb
    mr_fishbulb Posts: 5,224 Forumite
    Part of the Furniture Combo Breaker
    Reuters article - http://www.reuters.com/article/idUSSAT00828420100105
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    After weeks of heated debate, Iceland's parliament late last month passed the bill in a move seen as a boost to the country's hopes of swift entry to the European Union and of getting its shattered economy back on track.
    OMFG! I wonder if this is where we will end up? (single currency I mean).
  • liland2
    liland2 Posts: 41 Forumite
    ooooops there gose the pound:eek::mad: good lord give me a break i just want to leave:rolleyes:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    This is only the second time in Iceland's history that the president has not signed into law a bill approved by parliament.

    What was the outcome:confused:is this not like the Queen giving royal assent, i.e. if she didn't sign she wouldn't last long.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    I think it may be more like the Parliament act and the Lords initially overturning a parliamentary bill.
  • purch
    purch Posts: 9,865 Forumite
    is this not like the Queen giving royal assent

    Not exactly.

    The President is an elected position, and therefore has, presumably a stronger mandate.

    Basically appears to be a (small) victory for people power. They don't want to themselves and their grandchildren to be paying these debts for decades.

    Whether the people are right, only time will tell.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    purch wrote: »
    Not exactly.

    The President is an elected position, and therefore has, presumably a stronger mandate.

    Basically appears to be a (small) victory for people power. They don't want to themselves and their grandchildren to be paying these debts for decades.

    Whether the people are right, only time will tell.

    So what happened last time he didn't sign :confused:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    BBC says they are holding a referendum on it.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    edited 5 January 2010 at 12:01PM
    According to this:

    http://brunnur.stjr.is/embassy/strasb.nsf/form/content.html?openForm&wt=4B0130332E30322E30342E3032004C01454E4700

    If the President doesn't sign the bill it doesn't become law from what I can see from my very quick skim reading.

    Didn't Iceland end up winning the last Iceland vs UK wars (the three Cod Wars link)
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Did they not have original legisation guaranteeing foreign deposits ? or did they make promises with no legal backing?
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture