ICESAVE goes bust.
07 October 2008, 03:02 PM
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07 October 2008, 03:07 PM
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Iceland government seizes control of Landsbanki | Business | guardian.co.uk
The have been effectvely taken over by the Icelandic government, and they are seeking a rescuse package from Russia.
The have been effectvely taken over by the Icelandic government, and they are seeking a rescuse package from Russia.
07 October 2008, 03:38 PM
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07 October 2008, 04:21 PM
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07 October 2008, 04:22 PM
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The Icelandic Govt. has said all Icelandic nationals will get get ALL their money back, but the 300,000 Brit savers will get only the legal minimum (20,000 Euro's). The rest (up to £50k) they must pursue the UK Govt. for.
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07 October 2008, 04:57 PM
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Similar, but not quite, Boxst - the first 20,000 Euro's is from the Icelandic Govt., the rest (up to £50k) is from UK authorities.
But no-ones tested any Governments 'guarantee'...
But no-ones tested any Governments 'guarantee'...
07 October 2008, 06:23 PM
#12
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I had roughly 13k in icesave Isa's. I tried to transfer it into my current account last night using online banking, only to discover they hadn't sent me out a user ID. Was going to to it tonight by phone...but too late. Didn't even realise what had happened until I got home.
Only time will tell now I suppose.
Only time will tell now I suppose.
07 October 2008, 09:36 PM
#14
OK, can someone enlighten me?
UK nationals choose to put their money in an Icelandic bank in order to get higher rates than UK banks offer, (I assume this is the reason?).
The Icelandic bank gets into difficulties.
Suddenly, those savers expect us, the UK taxpayer, to underwrite their losses?
How the fek does THAT work, then?
Alcazar
UK nationals choose to put their money in an Icelandic bank in order to get higher rates than UK banks offer, (I assume this is the reason?).
The Icelandic bank gets into difficulties.
Suddenly, those savers expect us, the UK taxpayer, to underwrite their losses?
How the fek does THAT work, then?
Alcazar
07 October 2008, 10:30 PM
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OK, can someone enlighten me?
UK nationals choose to put their money in an Icelandic bank in order to get higher rates than UK banks offer, (I assume this is the reason?).
The Icelandic bank gets into difficulties.
Suddenly, those savers expect us, the UK taxpayer, to underwrite their losses?
How the fek does THAT work, then?
Alcazar
UK nationals choose to put their money in an Icelandic bank in order to get higher rates than UK banks offer, (I assume this is the reason?).
The Icelandic bank gets into difficulties.
Suddenly, those savers expect us, the UK taxpayer, to underwrite their losses?
How the fek does THAT work, then?
Alcazar
Although much to my surprise the Icelandic goverment are held accountable for the first €20K: Are your savings safe?: Full guide to protect your cash. UPDATED...
Steve
Steve
08 October 2008, 08:24 AM
#16
Alastair Darling has just said on radio 4 that the government will 'protect' investors in Icesave (because the icelandic government protection scheme didnt seem to have any money in it!!!)
alan
alan
08 October 2008, 08:56 AM
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UK saver *should* have been compensated out of the Icelandic scheme. But apparantly there is nothign in it. So the Government has said it will compenstate all UK savers to the full amount.
All of you will moneey in will be ok.
All of you will moneey in will be ok.
08 October 2008, 11:08 AM
#19
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Iceland has effectively a bankrupt government so therefore can't pay investors.
However, in the UK, we are promised £35K each person if the provider we invest in goes under.
Has anyone actually worked out how our government could pay these £35K?
Its nonsense. Our government could no more afford than Iceland.
However, in the UK, we are promised £35K each person if the provider we invest in goes under.
Has anyone actually worked out how our government could pay these £35K?
Its nonsense. Our government could no more afford than Iceland.
08 October 2008, 11:16 AM
#20
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Iceland has effectively a bankrupt government so therefore can't pay investors.
However, in the UK, we are promised £35K each person if the provider we invest in goes under.
Has anyone actually worked out how our government could pay these £35K?
Its nonsense. Our government could no more afford than Iceland.
However, in the UK, we are promised £35K each person if the provider we invest in goes under.
Has anyone actually worked out how our government could pay these £35K?
Its nonsense. Our government could no more afford than Iceland.
08 October 2008, 11:22 AM
#21
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I know, but there just isn't enough money to go around if they all go pear shaped.
I've got a bet on with my work mate that the FTSE drops below 4 by the weekend
I've got a bet on with my work mate that the FTSE drops below 4 by the weekend
08 October 2008, 11:23 AM
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08 October 2008, 11:31 AM
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Well it's not backing up Icesave; it's making sure the UK citizens who saved with icesave don't lose everything, because as it stand, the Iceland government is not going to compensate them.
08 October 2008, 11:37 AM
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That's something I was hoping they'd announce this morning. I don't have such sums of money that is above £50k in any one establishment, but my parent do. In RBS to name just one.
08 October 2008, 11:37 AM
#28
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I think if the Government doesn't support UK savers on this first collapse, then it would send a signal to all savers - "GET YOUR MONEY OUT OF EVERY BANK!" and the ensuing run on the banks would see an almighty collapse of capitalism and send us back to feudal times - me offering Les a bunch of carrots for a go on his motorbike, for example.
08 October 2008, 11:40 AM
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I think if the Government doesn't support UK savers on this first collapse, then it would send a signal to all savers - "GET YOUR MONEY OUT OF EVERY BANK!" and the ensuing run on the banks would see an almighty collapse of capitalism and send us back to feudal times - me offering Les a bunch of carrots for a go on his motorbike, for example.
Plus if lots of people lost substantial amounts of money, the UK would fall into a depression.
08 October 2008, 11:43 AM
#30
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The UK savers *should* have been compensated by the Iceland scheme, but ther ei sno money in it.