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

purch

So what happened last time he didn't sign

Ég l!ta !t eins og er s!rfræðingur ! Íslandi !!!!!

purch

Didn't Iceland end up winning the last Iceland vs UK wars

On the away Haddock rule !!!!

ruggedtoast

I dont see what the problem is. Iceland borrowed a lot of money they had no way of paying back, and now they want the British tax payer to foot the bill.

Brown should approve of this as it seems to fit his model of risk perfectly. Maybe he can semi nationalise Iceland and then pay the Icelandic government enormous bonuses to stop them defecting to Greenland.

Masomnia

mbga9pgf wrote: »

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

The money will probably come from the FSCS, which means that it'll come from banks, building societies, IFAs, that kind of thing; members of the scheme. We end up paying either way!

Generali

ruggedtoast wrote: »

Iceland borrowed a lot of money they had no way of paying back, and now they want the British tax payer to foot the bill.

Icelandic banks borrowed a lot of money. There's a difference.

mbga9pgf

Masomnia wrote: »

The money will probably come from the FSCS, which means that it'll come from banks, building societies, IFAs, that kind of thing; members of the scheme. We end up paying either way!

Yep, and who owns the majority of the bank with the largest "asset" base?

ben500

Quelle surprise Rodney

tomterm8

Generali wrote: »

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)

The cod wars were a very limited affair, though, weren't they. In any case, it is unlikely that this would result in a war since both parties are Nato members.

It is likely that any chance for iceland to join the EU or eurozone in the near future is kaput, and in fact since Iceland has renaged on certain aspects of EEA law, it is arguable that there is legal reason for it to be excluded from the EEA too. Further, it has broken the agreement with the IMF, and so technically should repay the loan immediatly.

edit: peeps might be interested in then formal declaration http://english.forseti.is/media/PDF/10_01_05_declaration_w_sign.pdf . This decision doesn't mean what its reported to mean, the act has been refered to a referendum, it hasn't been vetoed.

The_White_Horse

so the icelandic people do what is best for iceland. perhaps we could learn from this. perhaps the icelandic people would also like to create jobs and reduce unemployment in Yemen like Brown has pledged to do. He is awesome. Not only is the UK doing GREAT! he is now sorting out the Yemen as well.

And like us, Yemen didn't vote for him either.

mbga9pgf

It would be cheaper to ahem, "decommission" our nuclear weapons stock there (yemen). Would instantly get rid of the terrorist and piracy issues that Gordy has his knickers in a twist about.

A few extra jobs down the market isnt going to solve anything.