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

Rinoa

I looked at those Icelandic high interest accounts a couple of years ago.

Strange names, didn't know much about them. So took a tad lower interest rate from good old british banks I understood. I managed my risk, others didn't.

I also have sympathy for Icelandic citizens, it's not their fault their government was incompetent.

£2.3Bn between 400,000. Is that around £5,700 per person?

Really2

1984ReturnsForReal wrote: »

You have a really warped view on justice..

Cough up & send every penny you earn to HM Treasury for the next 15 years. Just to cover Northern Rock.

Or may be I realise we have all paid a part in this active or not and the bill will land some time.

If nothern rock went so would most of our other banks (due to a runs on them etc) if not all. The £ would be toast and you would have no legal tender.

Is that your view of justice? or have you got some better way out?

PS cut the "warped" and "defeatist" pony just because some one is having a rational debate with you.:rolleyes:

Bootski

Rinoa wrote: »

I looked at those Icelandic high interest accounts a couple of years ago.

Strange names, didn't know much about them. So took a tad lower interest rate from good old british banks I understood. I managed my risk, others didn't.

I also have sympathy for Icelandic citizens, it's not their fault their government was incompetent.

£2.3Bn between 400,000. Is that around £5,700 per person?

Well done Rinoa, I congratulate and applaud you on your research and your judgement! :T:T:T

You did better than others!!;)

Bootski

Really2 wrote: »

Or may be I realise we have all paid a part in this active or not and the bill will land some time.

If nothern rock went so would most of our other banks (due to a runs on them etc) if not all. The £ would be toast and you would have no legal tender.

Is that your view of justice? or have you got some better way out?

PS cut the "warped" and "defeatist" pony just because some one is having a rational debate with you.:rolleyes:

A rational debate is something I'm not having with you today:cool:

dopester

Rinoa wrote: »

£2.3Bn between 400,000. Is that around £5,700 per person?

Was looking for an article of a year ago... balancing out Iceland's options, and whilst I don't agree with it in principle... the option of default seemed to outweigh the citizenry being squeezed so hard to pay for something you could not afford. I'm undecided about it.

Some responsibility has to come from those who thought it would be great to put Iceland in such a position - even to bank/save via internet with Iceland... an independent thinking people who have quite some history... whose ancestors moved to Iceland to get away from the control and power of Kings.

Anyway can't find that article but did just read this about Iceland's debts (from 2008) in my search for it.

Iceland's financial meltdown means its banks owe £116,000 for every man, woman and child on the island
By Daily Mail Reporter
Last updated at 9:43 AM on 10th October 2008

Iceland's banking system is £35billion in debt - the equivalent of an incredible £116,000 for every man, woman and child on the island, it has emerged.

Separately:

The International Monetary Fund is imposing its "austerity measures" on the outer circle of the European Union, with Greece, Iceland and Latvia the hardest hit. But these are not your ordinary third world debtor supplicants. Historically, the Vikings of Iceland successfully invaded Britain; Latvian tribes repulsed the Vikings; and the Greeks conquered the whole Persian empire. If anyone can stand up to the IMF, these stalwart European warriors can.

Really2

Bootski wrote: »

Well done Rinoa, I congratulate and applaud you on your research and your judgement! :T:T:T

You did better than others!!;)

TBF the total bail out cost is.
http://news.bbc.co.uk/1/hi/business/8441312.stm

The total compensation package equates to about 12,000 euros ($17,300; £10,800) per Icelandic citizen.

perhaps because they would have to settle other nations also.

Really2

Bootski wrote: »

A rational debate is something I'm not having with you today:cool:

I don't think anything I have said as not been irrational or thought out.
they have been pushed between a rock and a hard place by there own government.
it stepped in to save their money but in doing so it gave them a big debt. Can't really see how they can default on a nationalised bank now TBH.

Bootski

Really2 wrote: »

TBF the total bail out cost is.
http://news.bbc.co.uk/1/hi/business/8441312.stm


perhaps because they would have to settle other nations also.

But not to Rinoa, eh!

Bailed out, saw it coming, read right throught it and did better the UK Gov in ascertaining it was not a good bet! Simple as..:D

Bootski

Really2 wrote: »

I don't think anything I have said as not been irrational or thought out.
they have been pushed between a rock and a hard place by there own government.
it stepped in to save their money but in doing so it gave them a big debt. Can't really see how they can default on a nationalised bank now TBH.

What can I say - I never knew OUR Gov were being pushed between that rock and that hard place til you pointed it all out to me so well today, and put me in between a rock and a hard place just trying to understand what you've been banging on about and whose side your on!
:eek:

purch

Why are you typing in 'cow pat' brown :eek: