So, Iceland says "sod off you cant have your money back"
Discussion
http://www.bbc.co.uk/news/world-europe-13022524
Is anyone in the financial industry ever going to touch that country with a bargepole ever again?
The government over there dont seem too happy with the result of the vote, are they going to have to resort to an economy based on reindeers, hot-springs, christmas trees and bjork?
Is anyone in the financial industry ever going to touch that country with a bargepole ever again?
The government over there dont seem too happy with the result of the vote, are they going to have to resort to an economy based on reindeers, hot-springs, christmas trees and bjork?
petemurphy said:
of course a referendum would say no can u imagine asking the british public do you want to pay back umpteen million to some foreigners they would say no whatever the arguements?
To be fair it was a fairly high "yes" vote, 42%, so (IMO) a surprisingly high percentage of the population can see the big picture with regard to attracting investment in the future. Would imagine it would be a lot lower if the same happened over here!and Portugal?
Could someone explain to me, being a thickie, how the euro could ever have not ended up like this? it's like everyone in a factory had been told to join an exclusive club.....with a high membership fee and where you have to shop at the most expensive shops. Obviously the guys on the shop floor won't be able to afford it
Could someone explain to me, being a thickie, how the euro could ever have not ended up like this? it's like everyone in a factory had been told to join an exclusive club.....with a high membership fee and where you have to shop at the most expensive shops. Obviously the guys on the shop floor won't be able to afford it
just to clarify, this isnt the national debt of Iceland, it was money invested in savings accounts in an Icelandic bank, which went pop. (IceSave etc)
Defaulting on a national debt is a different story all together, I think if that was the case we are all allowed to go over there and pick a hot blonde to bring home and keep in the basement.
Defaulting on a national debt is a different story all together, I think if that was the case we are all allowed to go over there and pick a hot blonde to bring home and keep in the basement.
Edited by davido140 on Sunday 10th April 14:26
The real Apache said:
and Portugal?
Could someone explain to me, being a thickie, how the euro could ever have not ended up like this? it's like everyone in a factory had been told to join an exclusive club.....with a high membership fee and where you have to shop at the most expensive shops. Obviously the guys on the shop floor won't be able to afford it
Iceland has nothing to do with the Euro. Indeed, it's not even in the EU.Could someone explain to me, being a thickie, how the euro could ever have not ended up like this? it's like everyone in a factory had been told to join an exclusive club.....with a high membership fee and where you have to shop at the most expensive shops. Obviously the guys on the shop floor won't be able to afford it
Perhaps its willingness to default stems from the facty that it is pretty independent.
Eric Mc said:
The real Apache said:
and Portugal?
Could someone explain to me, being a thickie, how the euro could ever have not ended up like this? it's like everyone in a factory had been told to join an exclusive club.....with a high membership fee and where you have to shop at the most expensive shops. Obviously the guys on the shop floor won't be able to afford it
Iceland has nothing to do with the Euro. Indeed, it's not even in the EU.Could someone explain to me, being a thickie, how the euro could ever have not ended up like this? it's like everyone in a factory had been told to join an exclusive club.....with a high membership fee and where you have to shop at the most expensive shops. Obviously the guys on the shop floor won't be able to afford it
Perhaps its willingness to default stems from the facty that it is pretty independent.
Fittster said:
Why should the Icelandic tax payers cover the debt of a bust commercial bank?
When governments guarantee that depositers will not lose their savings, taxpayers end up carrying the can when the bank goes under.It happened in the UK and Ireland too. In Ireland, bank debt therefore transformed itself into national debt - hence the IMF and ECB bailout.
I'm not sure if Iceland qualifies for an ECB bailout (not being part of the EU) but I don't know what the ECB bailout criteria are.
Eric Mc said:
Fittster said:
Why should the Icelandic tax payers cover the debt of a bust commercial bank?
When governments guarantee that depositers will not lose their savings, taxpayers end up carrying the can when the bank goes under.On a wider note I fail to see why a government should guarantee funds in a commercial bank. You want protection, then off to national savings. You want higher returns, then take a risk.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff