Saturday, Mar 06, 2010
Looks like there'll have to be a second referendum
Sky News: Iceland Rejects Icesave Bank Payback Plan
Icelanders have rejected a plan to pay back Britain and the Netherlands some of the billions of pounds they lost over the collapse of the Icesave bank.
The nation's 230,000 voters were asked to approve a £3.3bn deal to reimburse the Government for the money it paid out to UK savers who had Icesave accounts.
Results returned from six constituencies showed that voters overwhelmingly said "no" in Saturday's referendum.
Posted by devo @ 11:16 PM (1418 views) Add Comment
17 Comments
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1. devo said...
alternatively they could just ignore the result altogether
2. devo said...
The proposed deal would require each person to pay around £90 a month for eight years.
3. devo said...
see also:
Iceland's prime minister says her government will remain in office and continue to seek a deal.
With a third of votes counted, 93% of Icelanders have voted "No", less than 2% back the deal, and the remaining votes are invalid.
http://news.bbc.co.uk/1/hi/business/8553979.stm
4. devo said...
a little context for those not up to speed (heaven forbid!)
Gordon Brown, by collapsing the last solvent Icelandic bank through anti-terrorism laws, massively exacerbated that country’s difficulties, and made it far harder for it to meet its debts.
http://blogs.telegraph.co.uk/news/danielhannan/100026785/there-is-no-honour-in-demanding-these-repayment-terms-from-iceland/
5. markj69 str05 said...
I had an automated telephone call this week - 'This is not a message.....government legislation allowing for 100% of your debt to be wiped out' Blah, blah, blah.... (Along those lines anyway). Perhaps Iceland will give them a call!?!
Regarding the vote, did anyone really expect any other result.
Why would any indebted, troubled nation give up billions to a country who's gov't allow it's financial industry to pay billions in bonuses.
We must be a cash rich country, surely???
6. sneaker said...
naughty terrorists!
7. paul said...
This does actually confirm that the UK government was right not to trust Iceland to repay the money and use anti-terrorism laws to freeze their assets.
8. Steve said...
There was never any a priori agreement that Iceland would compensate depositors of banks operating in a different country. These banks were registered as UK Ltd companies, so fall under the UK compensation scheme. The people the UK and Netherlands need to go to get their money back are the CEOs of the banks, such as Björgólfur Guðmundsson.
9. devo said...
no, this confirms the UK government was wrong to reimburse savers
10. contrails are not a conspiracy (formerly npnh) said...
This is a tricky one. I hate Brown so for many reasons. A couple are what he did with the Gold, Interest rates and housing market and more recently becoming an unelected Scottish PM!!
I can see both sides of this argument. If I were an Icelander I’d be voting the same way. Brown has handled this wrong no doubt.... but we need our money back.
But 95% of UK and Dutch citizens will jump on the Icelandic hate band wagon.
He really screwed the pooch on this one.
11. alan_540 said...
I hate Brown for nicking my pension.
Why wasn't these anti-terrorist laws applied to him?
12. vacuouspolitician said...
How can anyone have any sympathy for savers who put more than fifty thousand pounds in one Icelandic bank? Didn't they read the T&Cs? They knew that if the bank went belly up then they were at risk and would lose any money above the compo. Some British people put large sums in these banks, one was interviewed and he said he had put one hundred and twenty five thousand in Icesave!
I feel genuinely sorry for the ordinary Icelandic people - they shouldn't be paying for these greedy people ...or the mistakes/greed of bankers.
13. markj69 str05 said...
I thought many local authorities had also invested huge sums (£millions). Or am I thinking of another bank?
14. tom101 said...
Devo @8. Totally agree!
http://farm4.static.flickr.com/3108/3221461589_a3e5112835.jpg
15. vacuouspolitician said...
mark - yes you are right - a few did. Just shows you how enept and out of touch some LA s are ...and their puppet masters.
This is tax payers money and they shouldn't be doing doing dodgy deals with anyone...
16. Davidof said...
What are they being asked to pay? Is it the full 100% compensation Brown agreed to pay out or just the legal amount agreed before the fiscal crisis? I can't see how Iceland can be held liable for more than the legal amount which was what exactly?
17. general congreve said...
Cheeky c4nts! INVADE!!!