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

WhiteThierry

drc wrote: »

Could we all stop shopping at Iceland as a protest vote

Or a Kerry Katona witch-hunt

Really2

TBH on a forum where I see so many frothing against people who go bankrupt and feel sorry for their lenders who lose their money.

I find the story an odd one and one that is supported by people who often think people should foot their full responsibility.


In the end of the day this money went in to iceland and never came out, if you think the savers should foot the bill so be it.

But I do find a certain amount of irony in that the way this as happened is no different to any other insolvancy, the money was lent, spent then they went bust.
but this time the simpathy is with the borrower.

TBH I feel for the average icelander as it is a big debt to them, but they can't say they protested about the money coming in, why should a lender not want it's debt repaying.

Sir_Humphrey

Really2 wrote: »

TBH on a forum where I see so many frothing against people who go bankrupt and feel sorry for their lenders who lose their money.

I also find it odd that people who seem to think the UK should be on bread and gruel for the next tens years seem to not mind Iceland welching on it's debts.

Bootski

Really2 wrote: »

TBH I feel for the average icelander as it is a big debt to them, but they can't say they protested about the money coming in, why should a lender not want it's debt repaying.

They probably didn't protest cause most lay people were unaware of the borrowing, lending & shifting of public money all over the world.

I didn't realise my local taxes were leaving the county let alone the country!! I can't know everything, all the time and just assumed, when councils were complaining of shortages and justifying cuts in spending - I'd never have imagined its cause its all tied up and invested in some Foreign country.

Please tell me the UK didn't invest in Dubai!!

1984ReturnsForReal_2

It think people forget there is less than 400,000 people in Iceland

No wonder most of them are unhappy about coughing up for the rest of their lives for a mistake not of their making or doing.....

Really2

1984ReturnsForReal wrote: »

No wonder most of them are unhappy about coughing up for the rest of their lives for a mistake not of their making or doing.....

Could not most people in every country say the same in the credit crunch.

what's my current debt due to people trading doggy wrapped up debts.

Not my fault but I live in the country that traded them, made money off them and now pay the price.

Living in the country makes you involved unfortunately because directly or indirectly you will have lived on some of the proceeds in the good times.
So perhaps they have had that 10,000 per person already in cheaper taxes and better services and jobs for the last 10 years.
It is naive to think you are never involved because some way, you always are, just like we are all finding out here too.

The bill always arrives some day.

The_White_Horse

but these were banks not the govt.

if the govt had a compensation scheme, it should honour it or face the consequences.

dopester

Trel.. if you get around to reading this thread, I think you'll enjoy this.

A memorable (Iceland) short-story, set back in Iceland of a thousand years ago.

(A 15 min read, start to end) especially for you in case I've fallen into your bad books, over my stance about home-caring. I know you like the makings of a good tale... and I base much of my reference thinking about Iceland on this story.

http://manybooks.net/pages/andersonpwother08Man_Who_Came_Early/0.html

Initial taster; an Icelandic farmer, his son and 2 slaves, out on the beach the morning after a storm, looking for drift wood (very precious resource for Iceland)... as a stranger comes running down towards them.

We had fallen to and were dragging the baulk toward the shed when Helgi cried out. I ran for my ax as I looked the way he pointed. We had no feuds then, but there are always outlaws.

This one seemed harmless, though. Indeed, as he stumbled nearer across the black sand I thought him quite unarmed and wondered what had happened. He was a big man and strangely clad -- he wore coat and breeches and shoes like anyone else, but they were of peculiar cut and he bound his trousers with leggings rather than thongs. Nor had I ever seen a helmet like his: it was almost square, and came down to cover his neck, but it had no nose guard; it was held in place by a leather strap. And this you may not believe, but it was not metal--yet had been cast in one piece!

He broke into a staggering run as he neared, and flapped his arms and croaked something. The tongue was none I had ever heard, and I have heard many; it was like dogs barking. I saw that he was clean-shaven and his black hair cropped short, and thought he might be French. Otherwise he was a young man, and good-looking, with blue eyes and regular features. From his skin I judged that he spent much time indoors, yet he had a fine manly build.

"Could he have been shipwrecked?" asked Helgi.

"His clothes are dry and unstained," I said; "nor has he been wandering long, for there's no stubble on his chin. Yet I've heard of no strangers guesting hereabouts."

We lowered our weapons, and he came up to us and stood gasping. I saw that his coat and the shirt behind was fastened with bonelike buttons rather than laces, and were of heavy weave. About his neck he had fastened a strip of cloth tucked into his coat. These garments were all in brownish hues. His shoes were of a sort new to me, very well cobbled. Here and there on his coat were bits of brass, and he had three broken stripes on each sleeve; also a black band with white letters, the same letters being on his helmet. Those were not runes, but Roman letters thus: MP. He wore a broad belt, with a small clublike thing of metal in a sheath at the hip and also a real club.

His breath sobbed in his throat. "You... didn't you Icelanders come from Norway?"

"Yes, about a hundred years ago," I answered patiently. "After King Harald Fairhair took all the Norse lands and--"

"A hundred years ago!" he whispered. I saw whiteness creep up under his skin.

"What year is this?"

We gaped at him. "Well, it's the second year after the great salmon catch," I tried.

"What year after Christ, I mean?" It was a hoarse prayer.

"Oh, so you are a Christian? Hm, let me think... I talked with a bishop in England once, we were holding him for ransom, and he said... let me see... I think he said this Christ man lived a thousand years ago, or maybe a little less."

"A thousand--" He shook his head; and then something went out of him, he stood with glassy eyes--yes, I have seen glass, I told you I am a travelled man--he stood thus, and when we led him toward the garth he went like a small child.

Really2

The_White_Horse wrote: »

but these were banks not the govt.

if the govt had a compensation scheme, it should honour it or face the consequences.

And was it nationalised before colapse?

http://www.inthenews.co.uk/news/autocodes/countries/iceland/icesave-faces-online-run-as-icelandic-owner-is-nationalised-$1243812.htm

1984ReturnsForReal_2

Really2 wrote: »

Could not most people in every country say the same in the credit crunch.

what's my current debt due to people trading doggy wrapped up debts.

Not my fault but I live in the country that traded them, made money off them and now pay the price.

Living in the country makes you involved unfortunately because directly or indirectly you will have lived on some of the proceeds in the good times.
So perhaps they have had that 10,000 per person already in cheaper taxes and better services and jobs for the last 10 years.
It is naive to think you are never involved because some way, you always are, just like we are all finding out here too.

The bill always arrives some day.

No offence but thats a defeatist attitude.

The money should come from the top down & not a blanket covering.