Comments on: Foreign currency car loans confirmed as illegal in Iceland

By: Too early to predict Iceland foreign currency loans impact on banks | Travel guide to Iceland

Tue, 03 Aug 2010 13:09:07 +0000

[...] Foreign currency car loans confirmed as illegal in Iceland [...]

By: Fisy

Fisy — Fri, 30 Jul 2010 14:19:15 +0000

Jóhanna off to Canada and US. As usual leaving things undone.

Not that I am sure Moodys has a clue, why are Steingrímur J. and she not doing they jobs to clarify all this LAST month?

Still it is not clarified !!

http://www.bloomberg.com/news/2010-07-29/iceland-debt-rating-outlook-revised-to-negative-by-moody-s-on-bank-ruling.html

“The magnitude of the banking system losses that will result from the recent court ruling is not known at this time but it is clear that Iceland still faces significant risks to its economic and financial recovery,” said Kathrin Muehlbronner, a Moody’s vice president and lead analyst for Iceland, in the statement.

So sadly predictible because Steingrímur in particular not doing his job as thank less as his job may be he did take it in his lust for power to sit in the govnerment chair !

By: Visit.is » “Fitch Ratings unnecessarily harsh over Iceland currency loans ruling”

Mon, 19 Jul 2010 15:53:13 +0000

[...] Foreign currency car loans confirmed as illegal in Iceland [...]

By: Fisy

Fisy — Thu, 08 Jul 2010 00:00:18 +0000

” Here is a partial list of questions questions the government should have answered on the day of the Supreme Court decision:

1. What does this mean for the split of the fallen banks into “new” and “old” banks?
2. will this derail the sale/transfer of the “new” banks to the creditors?
did the creditors and now owners of the “new” banks do due diligence?
3. will the government have to re-capitalize the “new” banks (at least Landsbanki) and can it afford it?
4. Are the “new” banks in danger of failure?

Impact on borrowers
5. Who exactly is affected? (the verdict was only about car loans)
6. What is the interest rate that should have been payed and will be payed on those loans?
7. How to deal with the next loan payment?
8. How will the those who have payed too much be compensated?
9. Will those who benefited before the crisis have to reimburse the lenders?
10. How does this affect the IMF program? ”

Over to you Mike UK Nordic analyst and Bjarni. Do some heavy lifting for us.

By: Fisy

Fisy — Wed, 07 Jul 2010 23:58:01 +0000

How useless useless Red-Green coalition should have handled the announcement from the Court :

http://www.jondan.org/2010/06/a-whiff-of-bananas/

By: Peter - London/Krakow

Peter - London/Krakow — Wed, 07 Jul 2010 09:47:11 +0000

“It will be fun to see how the government tries to squirm out of this.”
Increasing taxes, closing down services, penalising Icelandic citizens who didn’t take the loans. Great.

By: kaj

kaj — Tue, 06 Jul 2010 16:01:52 +0000

Bravo Island! Well done. It will be fun to see how the government tries to squirm out of this.

By: Peter - London/Krakow

Peter - London/Krakow — Sat, 03 Jul 2010 08:57:11 +0000

Well, apparently if the banks lose out, the Icelandic taxpayer will have make good their loss, otherwise the banks will crash again.

By: Fisy

Fisy — Fri, 02 Jul 2010 13:36:11 +0000

By: Visit.is » Iceland mulls implications of Supreme Court loans decision

Visit.is » Iceland mulls implications of Supreme Court loans decision — Fri, 25 Jun 2010 10:01:45 +0000

[...] Foreign currency car loans confirmed as illegal in Iceland [...]