Savers to lose money in EU bailout

[JohnD]

ellal

you really, really, really don't want to answer the question:

"are you telling us that Iceland never had a depositors protection scheme?"

 

[ntb]

so if a bank becomes insolvent, and an outside body pumps billions into it, so that depositors receive more than 93% of the money they previously held, what makes you think that the remaining 6.75% of the lost money is being stolen by the government?

the money isn't there. The government isn't stealing it. The EU and other bodies are pumping money in. They're not stealing it either.

The money isn't there because the bank is insolvent.

What makes you imagine that the money is being given to shareholders?

Have the Cypriot banks been taken into administration? Have the shares been withdrawn from the market and cancelled? Have the bondholders written off their investment? No? Then the banks have not gone through the insolvency process and there should be no question of depositors losing money and no need for bailouts.

Where does the money that is being pumped in come from?

 

[JohnD]

Have the Cypriot banks been taken into administration? Have the shares been withdrawn from the market and cancelled?

Not yet.

Is that what you prefer, instead of the bail-out that's been offered?

 

[ntb]

Have the Cypriot banks been taken into administration? Have the shares been withdrawn from the market and cancelled?

Not yet.

Is that what you prefer, instead of the bail-out that's been offered?

That's what the correct procedure is and yes, that is exactly what I would have done to Northern Rock et al.

 

[peterperfection]

We haven't had the money back, we won't be paid interest.

Seems pretty screwed to me.

We have got 95% of the money back even though Iceland has been proved in law not to be liable...

So how do you propose we (aka the government) can claim interest on money we are not actually entitled to?...

You and your hick cousin really need to acquaint yourselves with the reality of the situation instead of beating your collective chests...

But do carry on digging yourselves in ever deeper as a dreary evening always needs a laugh...

95% isn't quite the same as 100%.

 

[AronSearle]

We have got 95% of the money back

Ellal, for the 3rd time, here is a link that you are deliberately ignoring (and you are because you responded to my posts).

http://www.cityam.com/article/iceland-let-2bn-debt-uk

January 29, 2013

The move leaves the UK £2bn out of pocket, and the Treasury is likely to have to wait for years to get the money back as the failed banks’ estates are unwound.

 

[ellal]

We have got 95% of the money back

Ellal, for the 3rd time, here is a link that you are deliberately ignoring (and you are because you responded to my posts).

http://www.cityam.com/article/iceland-let-2bn-debt-uk

January 29, 2013

The move leaves the UK £2bn out of pocket, and the Treasury is likely to have to wait for years to get the money back as the failed banks’ estates are unwound.

It's a b*llocks link and well you know...

How about you tell us about the 'english laws' that protect our rights that you have refused to prove exist for the 3rd time of asking?...

 

[ellal]

ellal

you really, really, really don't want to answer the question:

"are you telling us that Iceland never had a depositors protection scheme?"

You really, really, really don't want to listen to the answer....lol

There is/never has been a legal obligation on Icelandic citizens to pay out for overseas private debts... (which bit of EU and EFTA regulations do you not understand?)

This has been proved in a court of law...

I'm sorry that doesn't fit into your argument, but then you never let the truth get in the way of your delusions do you...

 

[AronSearle]

It's a b*llocks link and well you know...

Is that the best you can do?

this link also bulls?

http://www.thisismoney.co.uk/money/...-paying-UK-Icesave-collapse-compensation.html

Oh, whats this....

Icesave at the time of collapse said that 95 per cent of its customers had deposits of less than £50,000

Is that your 95% figure, oh dear oh dear ellal.

Officials in the capital Reykjavik said that Iceland has paid IKr 585bn (£2.8bn) of the IKr 1,166bn (£5.7bn)

Is 2.8 95% of 5.7?

Deary deary me ellal, I do feel sorry for your poor little head.

How about you tell us about the 'english laws' that protect our rights that you have refused to prove exist for the 3rd time of asking?...

Just replied mate.

I find it both funny and amusing that you claim both murder and torture where rights introduced by the HR act (1998), and where legal before hand.

What a funny little life you must lead!

 

[ellal]

Quoting everything over and again gives you away 'soft in the head'...

Funnily enough though it doesn't make you right...

Or does it?

Lets look at the whole statement shall we...

Officials in the capital Reykjavik said that Iceland has paid IKr 585bn (£2.8bn) of the IKr 1,166bn (£5.7bn) claims from Icesave – this, it says, is the equivalent to more than 90 per cent of the minimum deposit guarantee the two governments were obliged to pay.

It added: ‘It is expected that the Icesave claims will be paid out in full by the actual debtor, the estate of the failed Landsbanki.’

So more than 90% then...

You really are pathetic...

Edit: I think your confusion arises from the fact that the Icesave debt is actually £3bn (without the non existent interest)...

However, I apologise as they have only paid back 93%...

 

[ellal]

Just replied mate.

I'm not your mate...

(Just in case you get any ideas... )

 

[JBR]

Just replied mate.

I'm not your mate...

(Just in case you get any ideas... )

He used the same word to refer to me recently. I'm beginning to get a little worried now!

 

[AronSearle]

Come on, you know you like me really, otherwise why would you so slavishly follow my posts?

And Ellal, please, that 90% is for the deposit guarantee amount, it's still half of the actual full amount, and doesn't include interest, and we won't see some of it for years.

Still want to argue we haven't been screwed, still want to hide behind legalise?

 

[ellal]

I realise A*Rs*e that you don't give a Horse's A*Rs*e about the facts...

However in Iceland even the equine population is smarter than you...

Linky Linky

 

[AronSearle]

Officials in the capital Reykjavik said that Iceland has paid IKr 585bn (£2.8bn) of the IKr 1,166bn (£5.7bn) claims from Icesave

Looks like the people running Iceland should put Caligula in charge