These were comments made by Bjarni Benediktsson, Inpendence Party leader when asked about the new Icesave agreement. Hoskuldur Thorhallsson, speaking for the Progressive Party, said that all earlier parliamentary work on the matter this summer was in vain.
The parliament finance committee came together today at 14.00 where members reviewed the new agreement. According to members of non-government parties, it looks as if the power of the Icelandic parliament has been taken from Iceland to the United Kingdom and the Netherlands.
They also say this confirms that UK and Holland used their influences within the International Monetary Fund to bully Iceland and have held Icelanders on their knees the whole time.
Thanks Axel. Good background there on why the Kaupthing legal argument that the FSA action was soley to protect KE depositors was flawed.
“When did Parliament vote on guaranteeing Icelandic depositors? Was there any debate on excluding non-domestic depositors based on their home address and the legality of it?”
When there is a major earthquake, a volcano explodes or the country´s entire financial system stops there would be reason to react faster than usual,
Britain did that too when they used anti terrorist laws against Iceland, Britain’s financial system is very fragile and was pushed to the edge by collapsing banks.
http://www.dailymail.co.uk/news/article-1127278/Revealed-Day-banks-just-hours-collapse.html
“i would say this deal has 50% chance of getting trough”
Is the Icelandic media polling MPs ahead of Althingi’s vote to ask how they will vote? It would be interesting to see those stats…
“The deal goes back to Parliament with the new amendments all 63 MP´s will vote if it should be granted state guarantee, if it passes the deal will have state guarantee by law, once it has been signed by the president,”
When did Parliament vote on guaranteeing Icelandic depositors? Was there any debate on excluding non-domestic depositors based on their home address and the legality of it?
The deal goes back to Parliament with the new amendments
all 63 MP´s will vote if it should be granted state guarantee, if it passes the deal will have state guarantee by law, once it has been signed by the president,
but before it is presented to parliament it must go to the committee of finances (Fjárlaganefnd) that’s where it is now, there are no shortcuts, this is how democracy works, it would work much better if we could trust our politicians to be the civil servants they are elected and payed to be,
i would say this deal has 50% chance of getting trough.
Just one question, can somenody explain to me what exactly did they sign today?
how can they close the icesave deal with “new” amandments without passing it through Alþingi?
or, are they signing a new deal, and still has to be accepted by Alþingi?
I’m honestly getting cofused now, with exactly what is it that happened today, has icesave been officially accepted or still has to be ratify by Alþingi? Or they (i mean Johanna and Steingrimur)have literally accepted it without passing it to Alþingi?
Jim,
Bjarni Ben speaks for the majority of tax payer in Iceland on this issue.
The Indefense press release of Thursday 15th says it well so I dont need to really add any thing to it except to say this current Red-Green government is about to go.
It will end up being a small foot note in history only because of the actions of our parliament as a whole blocking the traitoristic actions they have made ( from they spine less incompetence in action and EU at any cost ideas ).
The only question is which configurat ion of parties excluding Social Democrat is going to be the one that takes power within a month ?
https://www.icenews.is/index.php/2009/10/19/the-icesave-dispute-–-in-defence-of-iceland/
“Many would have liked to see the legislative bill for the state guarantee of the Icesave repayments rejected outright in the parliament, which would have forced the British and Dutch governments to pursue their claims through courts of law. This would be a battle that most Icelanders would welcome.
A minority of Icelanders, primarily supporters of the Social Democrat party (Samfylkingin) and part of the supporters of the Left Green party (Vinstri-Grænir) have taken the position that Icelanders must shoulder responsibility for Icesave, despite their being no clear legal obligation to do so. They are therefore willing to accept the Icesave loan agreements, insofar as Iceland can keep up the repayments.
The preconditions that were finally included in the state guarantee legislation should be viewed as the outcome of a political compromise between these two perspectives in Iceland. This compromise was so hard fought that it almost broke the coalition government. Now, at the beginning of October 2009, it has become apparent that the British and Dutch governments have protested fiercely against some of the key preconditions incorporated into the legislation.
As before, the Icelandic government will not divulge any information voluntarily, giving rise to fears that confidentiality is once again being used to hide ineptitude. It has been stated that most of the preconditions were accepted, demonstrating how poorly negotiated the original Icesave agreements were for Iceland.
The mood of the Icelandic people and parliament is defiant and resolute. They are not frightened by the blackmail tactics of British and Dutch governments and their improper use of the IMF and EU to coerce the Icelandic nation into accepting devastating economic burdens for the sins of a privately owned bank and the defective banking regulations of the EU. If the British and Dutch governments do not accept the reasonable preconditions set by the Icelandic parliament for a state guarantee of the Icesave loans, then the Icesave agreements will simply not come into force.
This means that the British and Dutch governments will have to pursue their claims through Icelandic courts of law, at least in the first run. As far as Icelanders are concerned, that is absolutely fine.”
You’re welcome Utlendingur!
I hope you people will be fine in Iceland.
I know it could happen to many countries coming years, it’s far from solved, and the derivatives, the cause of everything are even boosted higher.
The UK or US economies in particular basicly have no intrinsic value, production / manufacturing in relation to the moneysupply.( all money created out of thin air, issues by Central Banks)
And most countries have this, one worse than the other, because of this rotten system of deregulation and privatization. Goverment functions and even healthcare get privatised everywhere,leading to higher costs, lower quality and no competition, the US healthcare system is the best example of that. Politicians are paid by lobbygroups to either boost healthcare budgets or allow private companies to have a larger share, larger piece of the pie. Or these politicians will go work for these companies later. In the US the Glass Steagle Act was repleaed in 1999, that all lead to what’s been and is happening. In 1982 derivatives where not longer forbidden. FDR regulated those back in the days. It lead to increase of paper value and wealth, but basicly false wealth wich is not representative of the real economy beneath it, your country is a victim of it. But what happens in Iceland, is simply what is going on everywhere.
The US Dollar won’t hold either, all affords are delays. Look who surrounds president Obama, all the same people that pushed for deregulation, privatization, the very people that caused it to happen. Cause all that paper on paper value lead to a casino….a piramyd game.
Like Madoff, but Madoff could never do it alone, the whole financial system as it exists is basicly one massive Ponzi scheme.
I only hope that you all there in Iceland will have a bright future and that you all stay warm and alright. I’m affraid that many of the highgly skilled workforce you have there will move to Norway and other places, understandable, but bad for your country.
Now you all pay the price as people for what is not your responsibility. Ofcouse, everybody joined in the game, but ordinary people don’t understand and you cannot expect them to do the complexity of derivatives etc.Banska nd bansk and try to make money,they are greedy, but greed is human nature, that’s why you NEED regulation in a free market/ capitalistic economy. So if certain people than end sucha regulations, you get indeed a boom for a while, but unsustainable.
Central Banks and watchdogs are responsible to regulate that human nature of greed. They are controlling the moneysupply of every country and see if a currency gets inflated too much or not, so they didn’t do their work. Simular here in the Netherlands, we have just a small bank going bankrupt today:
http://www.dutchnews.nl/news/archives/2009/10/dsb_bank_boss_we_were_destroye.php
Luckily this is a small bank for us, but maybe it will be ING or Rabobank in the future, then we end up like you folkes in Iceland. I hope not.
Oh and keep united as family and people there, if you stay together and will oppose certain things, you will be in control.
Indeed Zeitgeist shows it aswell.
Further, the Federal Reserve in Dallas, Texas of the US released thsi speecha nd there you saw $99 trillion on longterm liabilities for the US, so that’s 6 times their GDP ( total income)
Richard W. Fisher
Storms on the Horizon
Remarks before the Commonwealth Club of California
San Francisco, California
May 28, 2008
http://www.dallasfed.org/news/speeches/fisher/2008/fs080528.cfm
Quote:
Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon. Traditional Medicare composes about 69 percent, the new drug benefit roughly 17 percent and Social Security the remaining 14 percent.
End Quote.
So,it’s that the Dollar is World reserve currency, they still can do tricks with currency swaps, but it’s the same thing thats was going on in Iceland.
I would say Canada and especially Norway are the most relativly stable countries right now.
We the people of the UK and Netherlands are not your enemies. The enemies are the private bankers and paid off or sold out goverments for the destruction of the nation state at the expense of globalization at any costs.
This is basicly simular as any bailout on Wallstreet: losses and debts are being nationalised ( so you the taxpayer pays for it) while profits are privatised. Nice game eh?
Aslong nobody sees this, we have a problem, cause there are hundreds of trillions of financial derivatives hanging above the heads of many nations and other nations could follow Iceland.
The Social Democrats wanted to join the EU at any costs. It’s a very bad deal for your precious country.
very well said, Flying Dutchmann!
The international banking cartell is holding the countries and their people by the balls…
also, the movie “Zeitgeist” is about how these banking cartells operate to destroy and profit.
( Balkenende is the Dutch PM)
Webster Tarpley reports from Reykjavík:
http://en.wikipedia.org/wiki/Reykjav%C3%ADk
Balkenende(Bilderberg) Holocaust against Iceland 1 of 8
http://www.youtube.com/watch?v=r0UCDyL_Zdo
Balkenende(Bilderberg) Holocaust against Iceland 2 of 8
http://www.youtube.com/watch?v=PpZBXYSe … re=related
Balkenende(Bilderberg) Holocaust against Iceland 3 of 8
http://www.youtube.com/watch?v=YGZMIuXz … re=related
Balkenende(Bilderberg) Holocaust against Iceland 4 of 8
http://www.youtube.com/watch?v=vNsRWajE … re=related
Balkenende(Bilderberg) Holocaust against Iceland 5 of 8
http://www.youtube.com/watch?v=MJfkjrrt … re=related
Balkenende(Bilderberg) Holocaust against Iceland 6 of 8
http://www.youtube.com/watch?v=aNPzwwqP … re=related
Balkenende(Bilderberg) Holocaust against Iceland 7 of 8
http://www.youtube.com/watch?v=b6-nG0v1 … re=related
Balkenende(Bilderberg) Holocaust against Iceland 8 of 8
http://www.youtube.com/watch?v=oWmAdNTr … re=related
The agreement seems very reasonable and mild, but the reality will be different.
Certainly now the Icelandic population and goverment ( taxpayer) is held responsible for this failure of Icesave!!
So a whole country, nationality is held accountable for the failure of a private company.
This is another case, of what you see with bail outs Globally where profits are privatised and debts and losses are nationalised! Please understand this game!!
Iceland, one of the best countries to live, one of the highest skilled population, with the fomer highest Human Develoment Index of the World is just being destroyed basicly. Total austerity. UK and Dutch goverments behaving like imperial powers, abusing the IMF to suck Iceland dry. I’m Dutch and i’m sorry for it, Icelander be aware that British and Dutch receive a totally different story on tv and in the news then the reality. People simply don’t even know what’s going on!!
Don’t join the EU, you will be lured into it and sucked dry further and controleld, sovereignity and you means of production/ manufacturing will be taken away.
This is obviously not the best way to open our doors to the Icelandic nation. It is a shame they now depend on the IMF help. Where where the nordic countries when Icelandic needed them most?
The Netherlands and the UK both abused of their influence within Europe (the IMF’s decision to link further payments to the Icesave matter).
sHAME ON YOU! IF THE ICELANDIC MEDIA AND SUBSEQUENTLY A LARGE SWATHE OF THE POPULATION NOT **** LICKED THE GREEDY BASTARDS WHO ARE RESPONSIBLE FOR THE DISASTER THEN ICESAVE WOULDNT BE AN ISSUE! THINK ABOUT IT, ITS NOT ROCKET SCIENCE. GET WISE PLEASE!
independance party speaks for the progressive party which speaks for the non-governmental parties…. this is now a REAL party. One which will go down in the history books as one of the longest and most for lorn attempts at logic the world has ever seen. AMAZING, just doesn’t cut it!
He’s right but his party played a major part in allowing this to happen.
It’ll be left to the mugs of Iceland to pay this debt while their children receive second rate services because of all the budget cuts required to pay for it.
The EU isn’t worth this but Iceland was too scared to tell the lovely British and Dutch governments what they could do with this agreement.
A sad day in Icelandic history and one which will mean thousands of people rightly move abroad to survive.
This guy sounds like a complete ****. Doesn’t he want a resolution. There must be treason laws in Iceland…