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

Bootski

Really2 wrote: »

But anyone happy with this is basically saying saving should be done at your own risk.

I agree, it should be but then do not feel some of the people supporting icelands actions would be happy if they lost their savings.

Lets not forget we have had to foot the bill for them not sticking to their guarantee.

Would any on here gladly lose their cash if the FSCS did the same with one of our banks and you lost all your money?

If you happy with what they have done you should be happy our government confiscated their assets to save our savers also? or am I getting the wrong end of the stick here.

Not the wrong end of the stick, just maybe double standards. ie if UK tax payers had to bail out the Gov (we did the banks and look how unhappy people were about that) they'd be a riot.

My Local Authority invested £3million in one year in Iceland, while old ladies were dying of the cold and bins weren't getting collected, servics were diminishing and Council tax kept going up?

edit: how could they afford to invest at all?? It was news to me there and everyone I spoke to there could be any surplus left, let alone invest abroad!

StevieJ

Bootski wrote: »

edit: how could they afford to invest at all?? It was news to me there and everyone I spoke to there could be any surplus left, let alone invest abroad!

They don't spend it all at once, they were not investments BTW they were on demand savings accounts.

Really2

Bootski wrote: »

edit: how could they afford to invest at all?? It was news to me there and everyone I spoke to there could be any surplus left, let alone invest abroad!

It is not surplus they get a wad of cash each year and stash it in various places to protect themselves from losing all of it.

I think most councils have at lease 50 accounts for stashing money in, in the end of the day it is good practice.

if they had there whole budget in one account and it went bust would you be happy to pay over double you council tax to give them the money back and what ever they lost + what ever other money they were holding for projects.

I think people do not realise that the warning was not server enough on iceland. but then do you support pulling the rug from under them earlier making their people in a further hole.

TBH I think people should of been told to withdraw from iceland earlier, A view i am sure iceland does not share as they would now be further in the poo.

Bootski

StevieJ wrote: »

They don't spend it all at once, they were not investments BTW they were on demand savings accounts.

Well at year end they had £3mill to INVEST. I believe Westminster had millions more public fund invested abroad

On Demand Savings Accounts?
On demand? by who?
Savings? - Whose?
Accounts? Belonging to Who?:rolleyes:

Really2

Bootski wrote: »

Well at year end they had £3mill to INVEST. I believe Westminster had millions more public fund invested abroad

On Demand Savings Accounts?
On demand? by who?
Savings? - Whose?
Accounts? Belonging to Who?:rolleyes:

When you get paid your wages are invested in XXXX bank, does not mean it is an actual investment just where your money is.

see my post above as i think you do not realise how councils have to spread their money for each year and how often they have to shift it.

Bootski

Really2 wrote: »

It is not surplus they get a wad of cash each year? and stash it? in various places to protect themselves? from losing all of it.

I think most councils have at lease 50 accounts for stashing money in, in the end of the day it is good practice?

if they had there whole budget in one account and it went bust would you be happy to pay over double you council tax to give them the money back and what ever they lost + what ever other money they were holding for projects.?

I think people do not realise that the warning was not server enough on iceland. but then do you support pulling the rug from under them? earlier making their people in a further hole.

TBH I think people should of been told to withdraw from iceland earlier, A view i am sure iceland does not share as they would now be further in the poo.

You're right, I don't understand your understanding of this public money, I know it's a lot to look after and always good to have a bit for a rainy day, but we are talking BIllions not spent on local peoples needs:o

Really2

Bootski wrote: »

You're right, I don't understand your understanding of this public money, I know it's a lot to look after and always good to have a bit for a rainy day, but we are talking BIllions not spent on local peoples needs:o

It would/should have been spent by the end of the finacial year ( all your councils money is budgeted april- end of march financial year). As far as I know if iceland don't the government don't on non personal deposits.

So basically iceland have taken your council tax. Which means you now have to foot that black hole.
Still happy, perhaps you can class it as a donation.

MrsBartolozzi

From the link posted earlier by tomterm8, thanks.

" If the Act is approved in the referendum then naturally it will remain
in force. If the referendum goes the other way, then the Act No. 96/2009,
which the Althingi passed on 28 August, on the basis of the agreement
with the Governments of the United Kingdom and the Netherlands, will
continue to be law, recognizing that the people of Iceland acknowledge
their obligations."

Can someone please tell me what this means. When I read it it seems to say that if the people say yes to the act it stays, but if they say no then the act stays, and the people "acknowledge their obligations" - does this mean pay the money back?
So if they say yes or no they still have to pay back the money??
I don't understand why people on the verge of bankcruptcy would want to spend more money on holding a referendum which is only going to show their disapproval of something but have no other consequences.
Or have I somehow(or is it all the media :rolleyes:) misread this??

Bootski

Really2 wrote: »

It would/should have been spent by the end of the finacial year ( all your councils money is budgeted april- end of march financial year). As far as I know if iceland don't the government don't on non personal deposits.

So basically iceland have taken your council tax. Which means you now have to foot that black hole.
Still happy, perhaps you can class it as a donation.

I know, that's why they're redoing our roof by the end of this financial year. If they don't spend all their budget by then, it gets cut next year. ie no new vans or bonuses!

I'll donate willingly to good causes and just may have to donate to Iceland, whether I like it or not - cause cleary by todays news, Icelanders won't foot the bill.

They won't,
We won't
Will they? Won't they?
Would we? could we? should we?

This could very well sour relations between our 2 countries - or come to a stalemate -maybe we'll set up a protest and petition on Downing st's website saying

"Well, we ain't gonna pay either:D"

mbga9pgf

We could get repaid in Cod and Haddock?