Savers to lose money in EU bailout
- Thread starter onecog
- Start date
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Ellal.
Do we have the money now = no.
Have we lost the money for a number of years = yes
Will it take several more years to get back = likely
Will we get all of it = wait and see.
Will we get interest = No.
No no, you keep arguing we didn't get screwed.
Do we have the money now = no.
Have we lost the money for a number of years = yes
Will it take several more years to get back = likely
Will we get all of it = wait and see.
Will we get interest = No.
No no, you keep arguing we didn't get screwed.
I reckon you owe me £3bn...
You say you don't...
I call you a terrorist...
A court says that you don't owe me a thing, and yet you make sure that the private company that does owe me the £3bn pays up...
Am I being 'screwed', or do you still not get it?
No, a court says you owe me so much money that you can't afford to repay your debts, so there is no point in asking, so we'll forget it.
Not at all the same thing, Mr Iceland.
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Au Contraire...
http://www.guardian.co.uk/business/2013/jan/28/court-rules-against-uk-icesave
But yet they are still making sure that a private company that operated from it's country is paying up from it's assets...
It's also a government that is taking bankers to court...
I assume the uk is doing the same...
And the same approach as regards forcing funds to flee a country is now as we speak being applied to Cyprus...
Sadly they don't have their own currency, so unless they leave the Euro they can't make the same stand as Iceland...
But hey - I've got a fully paid for house near a fishing lake in the 'terrorist nation'...what the f*ck do I know...
I don't know why you say "Au contraire" and post a link which says, inter alia,
"They claimed the Icelandic government was required to ensure its guarantee scheme functioned properly. Iceland successfully argued this was not possible in a system-wide meltdown."
i.e.
they were supposed to pay, but couldn't be expected to because their committments were too great.
The link goes on to say
"Before its demise, the Icesave website told UK retail depositors: "You can also rest assured that with Icesave you are offered the same level of financial protection as every bank in the UK."
But a very different message quickly emerged as Iceland's banks started to fall. "We have decided that we are not going to pay the foreign debts of reckless people," "
The Icelandic goverment changed its own rules to deny compensation to foreign customers. They did this the day before the bank declared bankruptcy.
Your article goes on to say
"The agreed payout by Icelandic taxpayers was overwhelmingly blocked by the vote in 2010, leading to further settlement talks. A second settlement – with the UK agreeing to a lesser rate of interest on the claim – was reached, but again rejected in a plebiscite a year later.
While the EFTA court said the run on Icesave accounts had come about "as part of the worldwide financial crisis", many in Iceland acknowledge the roots of Iceland's 2008 financial meltdown lay in insupportable expansion on the part of the country's three leading banks — including Landsbanki — and their over-reliance on certain large customers"
"They claimed the Icelandic government was required to ensure its guarantee scheme functioned properly. Iceland successfully argued this was not possible in a system-wide meltdown."
i.e.
they were supposed to pay, but couldn't be expected to because their committments were too great.
The link goes on to say
"Before its demise, the Icesave website told UK retail depositors: "You can also rest assured that with Icesave you are offered the same level of financial protection as every bank in the UK."
But a very different message quickly emerged as Iceland's banks started to fall. "We have decided that we are not going to pay the foreign debts of reckless people," "
The Icelandic goverment changed its own rules to deny compensation to foreign customers. They did this the day before the bank declared bankruptcy.
Your article goes on to say
"The agreed payout by Icelandic taxpayers was overwhelmingly blocked by the vote in 2010, leading to further settlement talks. A second settlement – with the UK agreeing to a lesser rate of interest on the claim – was reached, but again rejected in a plebiscite a year later.
While the EFTA court said the run on Icesave accounts had come about "as part of the worldwide financial crisis", many in Iceland acknowledge the roots of Iceland's 2008 financial meltdown lay in insupportable expansion on the part of the country's three leading banks — including Landsbanki — and their over-reliance on certain large customers"
Simples really...
That the UK/ND got it wrong over whether a nation state should be liable for a debt run up by a private company that was not subject to a 'guarantee'..
That fact has been upheld by a court of law...
So what point are YOU trying to make, besides that of being an irrelevant/erroneous 'little englander'?
So you can't support your own argument, and then resort to throwing your toys out of the pram...
pmsl...
You mean it wasn't subject to a guarantee because they changed the law the day before it was publicly announced it was bankrupt.
Come on ellal, keep telling us how we were not screwed.
So nice to see you and your regurgitated nonsense again...
You fail to see the truth laid out before you, so it's apparent you will never be able to accept the facts...
So many are laughing at you it is now beyond a joke...
Ellal, you seem to be in need of medication if you are hearing lots of people laughing....
As to my "nonsense", I only go by what *you* post, your links show the money has not yet been paid, and we will not be paid interest.
So, exactly what are you arguing about?
As to my "nonsense", I only go by what *you* post, your links show the money has not yet been paid, and we will not be paid interest.
So, exactly what are you arguing about?
So nice to see you and your regurgitated nonsense again...
You fail to see the truth laid out before you, so it's apparent you will never be able to accept the facts...
So many are laughing at you it is now beyond a joke...
I used to laugh at him until he stopped being entertaining and became boring. Now I ignore him.
I'd like to think, though, that in time he'll grow up.
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