Alistair Darling, the British finance minister announced that the Bank of England will give a loan of 100 million pounds to reimburse British depositors with accounts in IceSave, MBL reported.
The cabinet minister confirmed that a short-term loan is being discussed. If the document passes, the Icelandic Central Bank will be sent 19 billion Icelandic kronur.
The news has not yet been confirmed by the Icelandic Ministry of Business Affairs, but Bjorgvin G. Sigurdsson, the Minister for Business Affairs, said on the lunchtime news that negotiators were coming to the end of their discussions.
“The Bank of England will probably cover the loan to Landsbanki today,” said Darling in the British Parliament a short while ago.
According to the Independent, the British government is to work closely with Icelandic authorities.
i just want to thank gordon Brown for being a prick and causing this problem in the first place,
i for one would trust an Icelander over a brit any day of the week,
Gordon you screwed up bring back maggie lol
Hey Simon,
Theft usually means there is a thief how has it. But thats not true here, even the icelandic bank do not have your money. They lost it in a bad enterprise. To be exact I think nobody has your money ayt the moment!
Simon I am sorry for your present loss, you will eventually be reimbursed.
In the meanwhile take your time and write a letter to Downing street and ask Gordon why he made such a mess of everything?
Things went from bad to catastrophy when he got involved.
Dear Blogdesk;
There has been a chaotic feeding frenzy in unregulated global banking since the inception of the unelected World Trade Organization (WTO) headquartered in Switzerland. It looks like that experiment has been pushed to the extreme and is now fizzling out. Why all these purportedly democratic local councils around Europe have been taking their taxpayers money and putting it in Icelandic (or any other) banks is puzzling. The job of elected councils is to put that money back into their local community in the form of jobs, job training, healthcare, housing, college and perhaps democratic enterprize co-operatives and democratic credit unions and building societies. It is not the job of elected councilors to play fast and loose with the peoples monies. This all shall likely cost them their jobs and much more in the coming reformation as people wake up and come to their senses.
When will the thieves of Iceland return my money from my Icesave account.
It is my money that I worked hard to save and YOU STOLE IT FROM ME.
Give it back you thieves.
Nobody is thinking bad things about Icelandic people; there is much love and respect for them. You do not get representative comments here – you get comments from very worried Dutch and British people who are scared their life savings may be lost (also I believe charities and councils have fears). It is understandable but, of course, it is the people of Iceland that will suffer the most from the misdeeds of bankers who lived the high life. Good luck Iceland – keep your heads high – better times ahead!
….Never in the field of human finance was so much owed to so many by so few.
Offshore savings in Guernsey to save tax? Who is the unsocial betrayer of the British…
Savings without coverage scheme? – You saw the written rules – and risked it – now you lost. I hope you will never get your money.
By the way here in Germany nobody talks that bad about Icelanders, people only say what their banks did was crazy and dangerous. And in Germany there is also a closed down Icelandic bank office: KaupÞing.
http://uk.news.yahoo.com/skynews/20081014/twl-big-falls-in-iceland-stock-market-3fd0ae9.html
This is intresting..especially the last bit that says
It has already been revealed that the UK Government has seized more than enough Icelandic assets to pay back British savers caught up in the country’s banking collapse.
Some £4bn is understood to have been frozen using anti-terror laws last week, compared to the estimated £3bn that UK councils, charities and hundreds of thousands of individuals could lose.
For å beskrive situasjonen på islandsk: Satan i helvitur! Men ta det helt med ro. Vi har fortsatt en haug med oljemilliarder her i Norge. Så hvis det blir for gale, så kjøper vi bare konkursboet til Island. Kan sikkert få til en ordning med delvis selvstyre, så lenge vi får fiske- og oljefeltene. :)
Avinash: You are absolutely right it is unbelievable that they asked you to contact red cross, so unbelievable that I don’t believe it at all.
Besides I can’t belive people put so much money inte one account? wouldn’t it be better to split in £50K portions, and thereby be under the coverage scheme?
i have to agree wholeheartedly with what pete said it will only be those of us living in Iceland who will pay for their greed. Having listened to the reaction and comments coming from the uk i have to say i am ashamed to be British and when the moment arrives that i can claim Icelandic nationality i will do so with joy.
Ok you guys put all your eggs in one basket. Im not saying what happened is right but it was always a risk, no matter how remote. Unless you have your money in a fireproof safe out of the reach of space and time, there will always be risk. You should be paid back and I assume that this is what that loan means and now we people living in Iceland will spend the next 10 years working with high taxes to bail out the few banks. It is not you people in England who have lost, it is us in Iceland and it sickens me to see blanket comments regarding the people of this island made with such pig ignorance.
Avinash,
If they really responded your request the way you are claiming, so they are cynical dregs in this case and I hope the Gods will punish them.
It’s a terrible situation to be in! – But you should use the occasion to confront your bank adviser. Putting all your lifesavings in one bank is extremly risky.
i agree, all my worldly money is tied up in icesave and without it I am finished.
When I sent a email to the Iceland regulator to ask for assistance since I had all my life savings in Landsbanki Guernsey (where we have no recourse to UK guarantees), they tell me to speak to my local Red Cross!
Sorry but I put my hard earned cash in your bank and you tell me to go to a charity to seek assistance
Words escape me
THAT IS UNBELIEVABLE