The third and latest Icesave repayment plan may be more popular in Iceland than its predecessors, but opposition to the bill is well-organised and presented its petition this morning.
The 14 people behind a petition against the Icesave bill presented their first collection of online signatures this morning in Reykjavik’s National Culture House. The signatures have been collected on the website kjosum.is (let’s vote) and nearly 12,000 people have signed so far.
The statement people are lending their support to is: “I encourage Althingi (parliament) to reject the bill on the state guarantee for Landsbanki’s Icesave accounts. I also call upon the President of Iceland, Mr. Olafur Ragnar Grimsson, to refuse to pass the bill into law, should it be passed by Althingi. I want the nation to decide this matter.”
Among the fourteen people behind the petition are Baldur Agustsson, former presidential candidate and Jon Valur Jensson, theologian, Visir.is reported.
At this stage it still seems most likely that the bill will be passed by Althingi — but whether the president will pass the bill or send it to a referendum is impossible to say. 12,000 signatures are unlikely to sway him either way; but a number nearer to 30,000 might make an impact.
>Iceland ows me and my family 20 years of savings.
No it doesn’t. Your fact chain breaks down because Iceland did not nationalise the banks. So you’re left with a guarantee by the same dead banks that issued the bonds. I.e. no guarantee.
Even if the bondholders win in court (note: an Icelandic court), they will win a change in priority, not a government guarantee. That was never on the table and never will be. A change in priority will still mean a massive loss for the bondholders, although of course something is better than nothing.
No doubt it was robbery,
Iceland ows me and my family 20 years of savings.
Fact – The Landsbanki and Kaupthing banks guaranteed the bonds.
Fact – If the Icelandic state nationalised these banks then it must carry the responsibility of paying the Bond Holders.
Fact – If you change laws so as not pay out Bond Holders post a Bank system crash, then you will lose in court.
Is the Icelandic President now soft on paying the Icesave creditors in Holland? Why does he not put it to the Icelandic people to vote again?
What is different this time round Mr. President? :-)
“Never. Deal with it.”
True, even if those who lost their investments in the privately owned banks somehow managed to force the Icelandic state to take over the responsibility for this debt, then we would simply have to default, there is no scenario that ends with bondholders and investors getting the money they invested back,
Iceland’s natural resources are targeted by very powerful people who don’t care about people who are of no use to them.
The only thing investors and bond holders can do is to sue the LB because of criminal activity in the Björgolfs era of the bank.
I suspect that we will see allot of law suits soon, specially if the president signs the icesave agreement, then he will open up the possibility of the Icelandic state assuming responsibility for the debts of the private banks, i am sure some EEA laws demand equal treatment to everyone who has claims on the banks.
The CB has been busy spreading news on the recovery of the Icelandic state, this is bulls*t, the debts are far greater than stated,
the “progress” the IMF has made in iceland is just propaganda, a scam, just like the banks were,
the icesave deal is a part of a scam, when capital controls have been lifted and the investors and Icelandic thieves who have money in Iceland can pull their money (the IMF money)out of the country, then the icesave deal will be re negotiated, there is a clause in it specially for this,
i suppose some people will be surprised to see that the IMF is the destroyer of economies, not the builder.
I don’t understand why Anonymous thinks Icelanders are his enemies, or believes we robbed him,
this old Radiohead video explains the basic mathematical formula our economies are built on and how power is divided.
http://www.youtube.com/watch?v=lstDdzedgcE
>When do we get paid?
Never. Deal with it.
“Does only the UK and Holland have a say as to what goes on in the EU?”
I think you know that the UK and Holland were recover funds guaranteed by EU as they were normal bank deposits. I’m afraid your bonds are not guaranteed and you should have known that before investing 20 years savings in such a small and highly suspect banking system. You can of course sue your Independent Financing Advisor for giving you bad advice, they will be insured for such an event.
You did have a IFA didn’t you?
Is it not illegal to ignore other creditors?
What about the other creditors, such as Portugal?
Does only the UK and Holland have a say as to what goes on in the EU?
My family lost 20 years of savings in the guaranteed bonds of failed banks Landsbanki and Kaupthing.
When do we get paid?