Iceland

[Deluks]

Not the shop.

http://www.bbc.co.uk/news/world-europe-13022524

The people of Iceland have voted no, good on 'em!

Let the bankers/governments scrap it out amongst themselves

 

[Beerlover]

So you must be happy that your council tax will rise and services will be cut as a lot of local authorites had their continguency funds invested there.

Also pension funds and individual small people now have no chance of getting their money either.

All investments carry an element of risk - but this was goverment backed.

 

[ladylola]

It's a pity we weren't allowed a vote on wheather to bale out our greedy corrupt banking system with our taxes
Sell all the assets of the banks and all the personal possesions of the bankers too to repay the debts.
Elephant in the room is that the banking system we have and are trying to prop up is fundamentally flawed and wrong.

 

[Norcon]

A bankrupt country voting not to pay off their debts?

Were they not living beyond their means as are most western countries and as such, should not be biting the hand that feeds them?

Its a vicious circle. The people are greedy just as the banks are.
If we want to live without banks then its back to the caves as far as I can see.
Ain't gonna happen so the current economies of the mad house continues.


If a bank goes under you can be sure any losses will not be incurred by the top executives whose contracts are written in law and backed by the goverments.

 

[Deluks]

My local council had money invested in the Iceland thing, they've lost quite a few million afaik. But they took the risk, the company that they invested in was a private company, why should the poor taxpayers of Iceland pick up the tab?

*edit* it was 5 million, and council tax was frozen again this year.

I am glad that they actually had a referendum, fat chance of that happening here.

I'd happily live in a cave if it was mortgage free.

 

[spacecat]

few years ago i set up an ISA and it was a toss up between Egg and the icelandic Bank Ipthing which had a slightly better interest rate
i went for egg as it seemed easier to contact them.. thankfully i did.

Wouldnt fancy my chances of getting the money back now if i had gone to Iceland..................I dont even go in the shops for frozen food

 

[geraint]

My local council had money invested in the Iceland thing, they've lost quite a few million afaik. But they took the risk, the company that they invested in was a private company, why should the poor taxpayers of Iceland pick up the tab?

*edit* it was 5 million, and council tax was frozen again this year.

I am glad that they actually had a referendum, fat chance of that happening here.

I'd happily live in a cave if it was mortgage free.

so how could a cave have a mortgage... you just have to pay the market rent value..and pay you will...

 

[geraint]

My local council had money invested in the Iceland thing, they've lost quite a few million afaik. But they took the risk, the company that they invested in was a private company, why should the poor taxpayers of Iceland pick up the tab?

*edit* it was 5 million, and council tax was frozen again this year.

I am glad that they actually had a referendum, fat chance of that happening here.

I'd happily live in a cave if it was mortgage free.

so you are happy for your council to invest in a bankrupt country... and you to pay the bill

you must work for those inept people...

 

[Deleted member 105431]

We should sent the armed forces in to reposess what we are owed.

 

[geraint]

We should sent the armed forces in to reposess what we are owed.

they owe us absolutely nothing..... do you not read.......

 

[Biguns]

few years ago i set up an ISA and it was a toss up between Egg and the icelandic Bank Ipthing which had a slightly better interest rate
i went for egg as it seemed easier to contact them.. thankfully i did.

Wouldnt fancy my chances of getting the money back now if i had gone to Iceland..................I dont even go in the shops for frozen food

I had a not insubstantial ammount in Icesave when they went bust. I got it back from Egg in the Netherlands.

The next stage is law (lawyers will eventually end up with all the money in the world) and if they do not pay up its not going to enhance their aspirations to join the EU

 

[Deluks]

if they do not pay up its not going to enhance their aspirations to join the EU

Then they won't have to subsidise our farmers for doing sod all, it's a win-win for Iceland.

 

[Inky Pete]

We've already all paid out for this.

The British and Dutch savers who lost money when the Icelandic banks - which were backed by guarantees from the Icelandic government - folded, have already been compensated by the British and Dutch governments (or by their taxpayers anyway!).

This action is about the British and Dutch governments forcing Iceland to honour it's legal obligations under the very financial services treaties which allowed them to trade over here in the first place, by refunding the compensation pay-outs made by our governments.

Our government didn't regulate our banks properly, and our taxpayers had to pick up the tab for the bail-outs when it all went pear shaped.

The Icelandic government didn't regulate their banks properly - or in fact, at all really - they just collected the corporate taxes and turned a blind eye. So why should their taxpayers benefit from this in the good times but be allowed to duck their debts now?

 

[JohnD]

We'll just have to be more careful about letting foreign banks operate here.

 

[Deleted member 105431]

We should sent the armed forces in to reposess what we are owed.

they owe us absolutely nothing..... do you not read.......

They owe us millions you idiot.