Comments on: Faroe Islands to lend Iceland money

By: Peter - London/Krakow

Peter - London/Krakow — Thu, 29 Jul 2010 10:12:25 +0000

Put it in to perspective. 6% is equivalent to give an icesave every six year. Or three house over your 60 year life time.

Its a lifetime of wealth.

By: Peter - London/Krakow

Peter - London/Krakow — Thu, 29 Jul 2010 09:55:12 +0000

Wow, I’d like like to be give 6% of my earnings every year ..

By: Bromley86

Bromley86 — Wed, 28 Jul 2010 21:56:55 +0000

we have our own savings

Sure, but you’d have DKK 615m less savings each year if Denmark didn’t give you $2,000 per person every year!

I’ve no idea about your banking crisis, so can’t comment on that.

I, along with the 20,000 to 25,000 other Faroese in Denmark pay taxes too!

Good. And you presumably use the local services.

By: Native Faroese

Native Faroese — Wed, 28 Jul 2010 08:39:56 +0000

I want to make it absolutely clear. The money the Faroe Islands gave Iceland is exclusively Faroese, since the Faroe Islands took it from the Faroese National Bank. The DKK 615 million Denmark gives us is used for the hospitals and general maintenance – or in other words, the money from Denmark is used. Just because Denmark gives us money doesn’t mean we have to have negative growth in our economy all the time – we have our own savings! The 615 million covers a measly 6% of the Faroese GDP! And besides, the economic troubles the Faroe Islands had in the beginning of the 90′s were made immeasurably worse by Den Danske Bank (The Danish Bank), when they did some “creative accounting” in one of their divisions on the Faroe Islands and left US with THEIR mess. In the end we had to pay Denmark back DKK 9 billion in loans! We HAVE paid all 9 billion except the last DKK 500 million back. So GreatDane and all you other people saying that it is all “Thanks to Denmark”, get your facts straight! You have no idea how often I have to hear crap like this in Denmark (I live in Denmark). “Casual Prejudice” doesn’t even cut how ignorant some Danes can be; since I can’t go to ONE place without hearing Danes whining about how much money “I” (literally what they say) get from them. I, along with the 20,000 to 25,000 other Faroese in Denmark pay taxes too! And if you are so sad about all your tax money, at least it’s used to help some almost 50,000 people in a country YOU (the country) took from Norway. If you want to whine about something real, then whine about the DKK 120 million yearly maintenance prices you use for your new fangled opera house in Copenhagen!

By: SIR EURO IS BACK

SIR EURO IS BACK — Wed, 18 Nov 2009 03:27:22 +0000

AXEL “it seems to me that disturbingly large part of the discussions about this subject is very simpleminded”

MAYBE YOURS?? PLEASE. SHOW A LITTLE BIT OF RESPECT TO THE COMMENTS OF OTHERS HERE, MR. EINSTEIN… THERE IS A LOT OF GREATNESS IN SIMPLICITY…

By: SIR EURO IS BACK

SIR EURO IS BACK — Wed, 18 Nov 2009 03:17:27 +0000

WIM ” Iceland is -still- a rich country, with many natural recources”

WIM YOU TALK ABOUT ICELAND AS IF IT WAS BRAZIL, OR ANY OTHER OF THOSE COUNTRIES WHERE YOU CAN FIND GOLD, DIAMONDS, WOOD IN GREAT QUANTITIES, MINERALS, OIL, ETC…

ICELAND ONLY HAS FISH ( NOT AS MUCH AS THEY HAD BEFORE) LIMITED ENERG Y RESOURCES THAT JUST CAME TO LIGHT NOT EVEN ENOUGH TO MAINTAIN ALL THE ALUMININUM FACTORIES THAT HAVE BEEN BUILD. AND WATER… WELL, YOU CAN COUNT SHEEPS AS A NATURAL RESOURCE IF YOU WANT..

SO ICELAND HAS, IN COMPARISON WITH OTHER COUNTRIES WITH GREAT AND DIVERSE NATURAL RESOURCES… VERY LIMITED RESOURCES, ALMOST NOT INFRASTRUCTURE TO TALK ABOUT, NOT IMPORTANT INDUSTRY, NOT EVEN A DECENT PRODUCER OF TECHNOLOGY..

CAMMON, STOP LIVING ON DREAMS OF “WE HAVE RESOURCES, WE ARE RICH”, ALL YOU HAVE IS AN UNDEVELOPED COUNTRY, YOU ARE JUST A PUNCH OF FARMERS AND FISHERMEN ( WHICH IS VERY RESPECTABLE ) BUT DOES IS NOT ENOUGH FOR MAKING YOU RICH, AS IF YOU WERE IN THE ARAB EMIRATES OR ANY OTHER COUNTRIES WITH GREAT QUANTITIES OF HIGH VALUABLE RESOURCES…

ICELAND IS “STILL” RICH? IT HAS NEVER BEEN RICH AT ALL… JUST A COUNTRY HIGLY IN DEBT, A SOCIETY WHERE NO ONE OWNS BUT OWS WHAT THEY HAVE TO THE BANKS… AN SPECULATIVE DREAM…

GO FISHING, BE NICE TO THE FOREIGNERS WHO COME TO SEE THIS ICED LAVA LANDSCAPE, COOL DOWN YOUR AIRS OF SUPERIORITY AND, WHAT IS MOST IMPORTANT…

PAY BACK YOUR DEBTS AND REGAIN AT LEAST THE TRUST OF INTERNATIONAL COMMUNITY… BUT AS LONG AS YOU PLAY LIKE THIS YOU ARE GOING TO BE LEFT PRETTY ALONE… DEPENDING ON YOUR NEIGHBORING COUNTRIES TO GIVE YOU SOME COINS LEFTS…

By: SIR EURO IS BACK

SIR EURO IS BACK — Wed, 18 Nov 2009 03:00:26 +0000

“Do’nt forget that Iceland is a small nation with only 300.000 people, and no army, what so ever. It has been verry poor, and just the past couple off decades has been verry prosperous. We should all admire that.”

WHAT SHOULD WE ADMIRE? THAT A COALITION OF MAFIA POLITICIANS AND BANKERS WHERE THE AUTHORS OF THE ROBBERY OF THE 21ST CENTURY? THE ICELANDIC JOB? ARE YOU PROUD OF THEM? DO YOU ADMIRE THIS? THAT A WHOLE NATION HAS BEEN FOOLED, MAKING YOU BELIEVE THAT YOU WHERE RICH, PUTTING YOU INTO GREAT DEBTS THAT NOT EVEN YOUR GRANDCHILDREN WILL FINISH TO PAY? MAKING YOU BELIEVE YOU WHERE THE RICHEST NATION IN THE WORLD WHEN IT WAS ALL ABOUT FINANCIAL SPECULATION AND NOT SOLID GROUND FOR IT?

THAT IS WHAT HAS HAPPENED DURING THE LAST TWO DECADES IN ICELAND, IF YOU WERE WISER AND HAD CHOSEN A MODEL OF REALISTIC GROWING, DIVERSIFICATION OF ECONOMY ETC… THIS NATION WOULD BE IN A BETTER SHAPE RIGHT NOW.. BUT NO, YOU WENT THE EASY WAY, WHERE WAS THE ICELANDIC MIRACLE BASED ON FISH?? OR BANK SPECULATION??

I DON´T THINK WE ADMIRE ANYTHING OF THIS, IT JUST MAKE THE INTERNATIONAL COMMUNITY LAUGH AT THE PEOPLE WHO WERE PRESENTING THEMSELVES AS THE IDEAL SOCIETY OF RICHNESS AND DEMOCRACY , AND AT THE END IT WAS JUST ABOUT CORRUPTION… AND SPECULATION

By: Bromley86

Bromley86 — Tue, 17 Nov 2009 16:46:53 +0000

>Dont listen to GreatDane, he truly doesent know what he is talking about.

A name from the past, that one!

Actually, he really does. He said that the subsidy was DKK 615.

CIA factbook say somethink like USD 150.

An interesting little factoid that has come out since this article was first published and commented on. The loan is at 5.25%, so whilst it was a nice gesture and all, it’s hardly charity. That’s only .25% below what the evil UK & NL (boo!) want.

Exchange rate is about USD 1 : DKK 5.

So about DKK 650. Actually, it mihght even be higher – they say 15% of GDP and I took the PPP one, as that was a better fit with GD’s statement. Using the (to me) real exchange rate one is more sensible, which would give USD 255, DKK 1,275.

By: Faroese

Faroese — Tue, 17 Nov 2009 15:04:10 +0000

We are happy to help our beloved nabours. I hope the rest of the nordic countries will follow our example.

Dont listen to GreatDane, he truly doesent know what he is talking about.

By: Wim (Netherlands)

Wim (Netherlands) — Wed, 29 Oct 2008 22:55:42 +0000

@ Øystein;Norway :
There are 469 Dutch people, who had more than 100.000,- Euro’s at Icesave (Landsbanki).

@ Jim: We’re on the same page.

@ Ron: These are loans. I’m sure that there are no other goverments going to loan money to Iceland, if they think that they would’nt get it back… Iceland is -still- a rich country, with many natural recources.
You may blame the bankers who took to high risks, and the goverments -also in the rest of western Europe – who allowed them to do so. The Icelandic people are certainly no pirates, and most deffinatly no terrorists.

I have some money in Iceland, because i do some bussines there. This might be the end of that, but we will see. The way i see it, is that there are some institutions wich have boroughed large ammounts to the Icelandic banks. These transactions are normal bussines transactions, and these institutes know the risks. I’m therefore also not complaining about my money, wich i can’t get out of Iceland. These risks are normal for all bussines.
Offcourse it is a different story for private savers, who are putting their savings in a bank wich is located in their own country. All people should trust there local goverment to look after their savings with a bank wich is allowed to do bussines in their home country. Therefore the Dutch goverment garantees the savings up to 100.000,- Euro. This was 20.000,- I have to atmit, that the first few days, the Dutch goverment did’nt want to pay anything, and refered to the Icelandic goverment! I think that this was legaly not possible, so they came up with this solution.

Do’nt forget that Iceland is a small nation with only 300.000 people, and no army, what so ever. It has been verry poor, and just the past couple off decades has been verry prosperous. We should all admire that.

To freeze all Icelandic assets in the U.K., is an act of war. This has caused the collapse of Kaupthing, the biggest bank in Iceland, and brought the country in even bigger problems. This seems to be politics. I’m sure that Brown would not have concidered these actions, against a bit more bigger nation, with more influence.

@Peter: Iceland is not inside the EU, but it does belong to the EEG, and Nato.
Futher on, it is a Eoropean country, and we should not be argueing in 2008 with each other.
I do however agree with you on the banking mafia. There have been some people in the banking industry, who have stolen our money, and knew exactly what they were doing. Not only in Iceland, but all over western Europe.Hopefully they will be brought for justice.

Please let us not condam the Icelandic people, but the bankers, and goverment, who are responsible for this.