Have just read on BBC http://www.bbc.co.uk/news/world-europe-13022524 about Iceland rejecting the most recent payment deal. Ak looks like your compatriots aren't keen on bailing out the government/banks and who can blame them. However my degree was a bit fuzzy on the Icelandic side of politics, is there a reason that both of the repayment deals went to referendum? Seems like the government was very much hoping to get this one agreed as the best of a bad set of options. I guess I'm suprised a government would allow a decision with such far reaching financial consequences to be left in the hands of the public.
I'm sure Ak will explain the Iceland politics but it seems bizarre to hold a referendum saying "would you like to pay someone else ã3 billion" I couldn't begin to guess the result But it should not come to that - either they owe the money or they don't - if they do and wont pay - sue 'em - if they don't why ask for it?
I returned to Iceland last summer to see the aftermath of the volcanic eruption, and wondered again at the natural beauty of the place as I drank water straight from the river. Err as for them repaying the debt I would ask what they can afford? It was clear a whole load of bankers got far too greedy and bought stupid toys like West Ham Utd football club, but now that England and half the EU has bailed them out, their debt compared to their GDP needs to be considered. When this has been calculated can I have a subsidised trip to see the Northern Lights this Christmas?
A couple of pedlo's and someone standing up the sharp end with his Uncle's Shotgun should do the trick...
Yeah your right - I am flying off at Easter for a few days and don't want to get stuck in Arabia...OK Iceland, how about we swap the debt for Cod?
The latest referendum was a bit daft. You must give credit to Ãâlafur Ragnar GrÃÂmsson for forcing this on Alþingi to have the second vote but as people we had rejected the first repayment plan and this was our chance to reject the second, even as the repayment plan is much better for us. The big problem about this is that we do not understand why we as ĺslendingar should pay any money. The fault was not ours. We blame the Landsbanki and the British and Dutch investors, mostly public bodies who should be responsible with the money they took from you, which chose to put their money in Landsbanki and the savings schemes. I believe the interest rates on offer should have been a warning for anyone thinking to make an investment as they were so big. To put this into a form for a British debt. Imagine if France invested GBP650billion in a British bank promising huge interest rate for example 20 per cent which collapsed and the government agreed to repay the French back so every British person had a debt of more than GBP10.000. This is what each ĺslendingar now has, a debt of higher than GBP10.000 or about GBP3.5billion for the nation. Which in British government money is not very much but for us this is. We are not against repaying this money but we were against the original plan as it would have made our country bankrupt, thank you Gordon Brown for that threat, and the new repayment is fairer. We have gone from 10 years at 9.9 per cent interest to 22 years at 3.3 per cent interest. The second plan is still bad but easier to pay. In the first vote of March 2010 92,3 per cent of people voted against the repayment scheme and in this second vote is 60 percent against paying this time. This is also one chance we have to give the politicians a smack. This is like turkeys voting for Christmas. If things come to a fight you must remember we have no military forces at all only the police and some coast guard boats. So after the various cod war things where we did not give in I do not see us losing again. And also we have a secret weapon Björk could squeak you to give in. Greetings from a terrorist nation.
It'll go to court and Iceland will lose. At the end of the day they've rejected the best deal they were going to get and the forced deal will be on worse terms plus costs. Not very sensible.
If this is in court in ÃÂsland we know who will win but it will not. The politicians have already agreed to pay the money so the vote on sunday was daft.
I think we should all visit Akureyri later in the year - see the Northern Lights, have a few beers and come to a friendly agreement
A repayment at 3.3 per cent interest over 22 years is a great deal for Iceland....you can't expect a lower rate because then whoever you owe the money to will be losing out greatly due to inflation. 3.3 per cent is below the rate of inflation right now so unless I'm missing something here.....whoever gave you the money will lose money and not see it all for 22 years!
The money the Icelanders owe is to the British government, I'm not sure of the Dutch arrangement, because our government bailed out investors with taxpayers money and now want a return. Why don't they go after British banks for a return as well as they gave them our money? After all the American banks have paid back their bail out money. Oh, yes. British banks are a bit more powerful than a country that has a few volcanoes and a population four times the size of Watford. And where do the former and current government ministers go for jobs? Not our northern neighbour that's for sure.
