Brown declares 'war' on Iceland over refusal to hand back the billions it owes to British savers

..Their debts have to Mature before they can be collected.. they cannot just be like "I want my money you owe me!!" ..

They only get payouts when their securities mature, just like the rest of us.

reply to post by Rockpuck



That's only if they were securities. From what they are saying it was savings accounts that are frozen, but that doesn't make any sense though because waht are government entities doing putting government monies in savings accounts in Iceland????

This is the first time I've felt the direct results of the global economic crisis - I had a contract for a number of schools funded by Private Finance Initiative (PFI). Guess where they had their money? Yup. Iceleand. Doesn't look like I'll be getting the work now!

Well that will be interesting to see the first war prompted by the economic crisis.

Please let me know when this will start to get my popcorn ready.

Originally posted by Thebudweiserstuntman
This is the first time I've felt the direct results of the global economic crisis - I had a contract for a number of schools funded by Private Finance Initiative (PFI). Guess where they had their money? Yup. Iceleand. Doesn't look like I'll be getting the work now!

Aberdeen?
Man, that was though luck. I'm in Edinburgh, and even without Icelandic funding, there is not that much to do also.

pffffffffffff

Brown's a muppet, the councils etc spread their money across many different investments/banks and institutions to spread the risk, so that if one goes tits up they don't lose everything.

They know the game, they have been playing it for many many years

Why are they crying about this?

Take your medicine like men and be relieved you've not lost everything, ie the plan worked.

Once Gordon Brown came out and guaranteed British savers money, IceSave canceled transactions that were made a full day before they effectively shut up shop.

Probe call over Iceland cash crisis knowledge

THE Government faced calls for an investigation today following claims that the UK authorities knew as early as April that the Icelandic banking system was in trouble.

Channel 4 News reported that the Icelandic Central Bank approached the Bank of England in March for assistance to support its currency as confidence began to ebb away.

article.wn.com...

www.pressandjournal.co.uk...

www.timesonline.co.uk...

I'll be glad to see the back of this imbecile.

Brown is a mentally deficient chimp.

Spend your way out of recession? Clamp down on a country with a population twenty times smaller than London?

What's next, refuse to call a general election?

Originally posted by Rockpuck
So we have poor Iceland, which the World SHOULD be trying to help any way possible right now .. is being viciously ATTACKED by a run away douche bag in the British Government invoking, among all things, a freaking TERRORIST law against the people. Sort of like.. an ambulance chaser (as we call them here in the States) .. Iceland falls apart at the seams, it looks like they are in for a very harsh depression.. and the UK is demanding what little money they have, freezing corporate assets and government investments which essentially is a club to the head of a drowning man!

I agree 100% it's like the grinch coming back for that last tiny little crumb...

In other news, reports are now surfacing that iceland has acquired 150 nuclear missiles from russia, and that Geir Haarde was quoted telling Gordon Brown to "say hello to my little friend" in a meeting earlier today.

When the Bush administration was asked for a statement regarding whether or not they would back up their allies in the U.K. by joining the newly formed "coalition of the greedy" Führer Bush replied "Well hell no, theres no money in it for Haliburton or K.B.R., besides we're too busy invading small defenseless countries of our own. However we WILL be selling weapons to both sides"

The Icelandic suicide bombers who are responsible for the recent destruction of britain's parliament building yesterday have been positively identified after a lengthy post mortem removal of their "guy fawkes" masks, but their identities are being withheld by british authorities due to an ongoing investigation.

On the medical front, worldwide sales of prozac have tripled since the beginning of the crisis.
(yes It was sarcasm)

Seriously though is it just me or has the entire planet finally "flipped it's noodle" and gone out to lunch mentally?

The first thing that came into my mind was that to my knowledge Iceland is still part of NATO, and that this could be the first domino to fall in that organization's demise.

As far as being aware of Iceland. I was aware that they had gone bankrupt (or if the term isn't fit to be used, in really bad shape economically), but this was some time ago.

And you are all right in the fact that it isn't on msm channels, the reason (if not covered already) is that it isn't a bleeding story...

yet.

Britain is Demanding that Iceland Become Socialist just so the surveilled citizens of Police State England can get their money back?

Strange. Just because most other Western nations have adopted Communist financial principles England expects Iceland to roll over and let Socialism have it's way with her... Despicable.

I support Iceland in their fight against International Communism and it's Now socialist member-states.

Good For Iceland.

Well, I'm quite pleased that the British Government moved swiftly to protect the cash of Councils, Charities, Education, Health and Police authorities and other UK organisations (and thousands of individual citizens) who deposited funds with Icelandic Banks. These Banks enjoyed the highest credit ratings (something else which needs to be investigated) and the UK organisations deposited only a proportion of their funds with these banks, in line with guidelines introduced after the collapse of The BCCI. They acted responsibly and with due dilligence. If the Icelandic Govt had been a bit more forthcoming with the assurances the UK Govt. sought from them, this would never had happened. Why was terrorist legislation used? Because it was there and proved to be perfect for the job. I can understand Icelandic sensitivties about this but had steps not been taken the damage caused to the UK economy would have been greater than anything Al Qaeda could have managed.
Iceland got caught up in the same deregulatory madness that has afflicted the UK and US.The problem is that Icelands GDP was simply not big enough to cover the huge obligations and debts a small and reckless group of Icelandic 'entrepreneurs' dumped in the laps of their fellow country men.

[edit on 07/21/06 by Fang]

It's because of New Labour and idiots like Brown that we are in this mess.

reply to post by kindred


Really? How did they manage that? Remind me of their role in the US sub prime market?

The only thing that these people protect is themselves and their fascist agenda. Only an idiot would spend their way out of debt, but that's Gordon Brown all over.

Europe's Financial Mess: Leaders Wanted
"This is no time for a novice," declared Prime Minister Gordon Brown at his party conference two weeks ago. What the British people wanted, he said, was decisive leadership and action that would help them with their mortgages, their jobs, their businesses.

His rallying call, a swipe at his inexperienced opposition leader David Cameron, brought him a brief reprieve. After all, in the current financial crisis, who better to lead than the Iron Chancellor who presided over our decade of economic growth and solemnly promised an end to the cycles of boom and bust.

Back in September, Brown's speech was a masterstroke. He was fighting a leadership battle within his own party, as rebel MPs urged a change of leadership. Yet soon after the conference, Former Home Secretary Charles Clarke, wrote in the Sunday Times that Brown lacked both leadership and clarity of purpose. "The prevarication and evasion may appear attractive at the moment, they are actually the most dangerous course of all."

These were prophetic words. The financial crisis has well and truly exposed Brown as a ditherer, incapable of making decisions under pressure. In the last few days, he and Chancellor Alistair Darling have driven the City of London into a frenzy of speculation. Their reluctance to take decisive action over the banking system has contrasted sharply with the leaders of Germany, Spain, Ireland, Greece and Denmark who have offered superior guarantees for their banks and assurances to the public. Brown's hesitation has undermined confidence, with the result that money has flooded out of the country and the stock market has crashed.

As one commentator said today, the only sensible conclusion to draw is that while he remains in office the economic crisis is likely to get even worse. Another, in one of hundreds of comments on this story, puts it more starkly: "for Gods Sake Brown, take action, be decisive. This country is about to go down—either do something or move aside so that someone who will, can, before it's too late."

Also getting hundreds of responses is the blog of Robert Peston, the BBC's business correspondent, who has emerged as a popular hero in recent weeks. Several times a day, he unravels the complexity of the financial crisis and shows he is often several steps ahead of Treasury ministers. His calm, informative and clear-headed reports on radio, television and the web are a badly needed antidote to the government's obfuscation, confusion and side-stepping.

Another hero is Vince Cable, Shadow Chancellor for the third party in British politics, the Liberal Democrats. An economist by training, he is the only politician who has offered any specific policy responses to the crisis and has done so in a straightforward and clear way. But while he is revered by the public, he is sitting powerless between the two major parties, one of which is fiddling while London burns while the other waits for the kill.

In fairness, Brown is not the only leader who has been found lacking in recent days. Angela Merkel's confusing announcement about bank guarantees sent markets plummeting yesterday, while other European leaders have done little more than put on a show of united leadership while focusing on their own problems. Business and political leaders in the US were also shown to be in disarray last week when the financial bail-out package, first rejected by Congress, was only adopted after significant revisions.

How do you lead in crisis? What works and what doesn't work? How have your own business and political leaders responded to the current crisis? And what lessons have they learned?

www.businessweek.com...

If you want to learn more about this from trusted sources I suggest you check out this link: indefence.is...

The reality is that if Gordon Brown doesnt stop the bully tactics, unborn Icelanders will have to pay for the debts of private banks that worked within the EES regulation and did nothing illegal. Why doesnt he declare terrorist law on the German and US banks that have gone bankrupt and not been able to repay all depositors?

What is it between the UK & Iceland?

I mean, its from the UK the central banks tentacles spread across the world. Dont the trillionaire bankers have enough money? Hell, they own America already and they own 60% of the worlds wealth.

I suspect theres more to this behind the scenes than the common media is reporting on. Or maybe they dont know?

Very odd situation indeed.

[edit on 6-11-2008 by Nonchalant]

reply to post by Nonchalant


It could be the strategic location of the country. It could be the abundance of clean energy sources. It could be all the fish in the ocean around the country. Or it could be this.

Edit to add this link

[edit on 6-11-2008 by Waldy]

Seeing as the councils were 'lured' by high interest rates of the Icelandic banks , doesn't that mean that they had no trust in the UK banks anyways?
Or where they just trying to dodge taxes?
I worry about hearing stories like this, it just reeks of corruption. as the council members waste millions of refurbishing their offices and mutliple homes with upto date electronic entertainment systems paid for by the tax payer, they then have to go somewhere that pays 'higher interest' to offset what they have creamed off the top we as UK citizens pay in council taxes.
I think that the council bosses whould pay back what they have stolen , and I mean stolen because they have lined their own nests with luxury whilst the elderly and infirm have to go without heating and food over the winter months just to be able to pay their council tax and heating bills.
The council bosses 'lured' by the pound signs should have trust in their own country but its obvious that they don't. and they should be held accountable to the public when they money they have put in a foreign bank gets lost in a crisis such as we are having now.
PM Brown has even declared 'economic war' against Iceland and used 'anti terrorism'? laws to freeze they're assets as a ransom till they pay back what they owne the UK. Anti terrorism laws? aren't they for terrorists and financial backers of terrorists? since when does the PM use these laws against another country? Sounds like he wanted a quick stop on their funds and the AT laws allow that, shouldn't he have gone down the political path and talked to Iceland when they 'illegaly' held onto our money.
Typical UK Government, wanting a quick fix instead of actually looking at the problem of wasting money hand over fist at dole scroungers , benefit cheats and health service tourists they want to seize funds instead of looking at the root cause. It's like putting a plaster on a severed limb, or putting a post-it note over a hole in the hull of a battlseship and hoping the ship doesn't sink in the meantime.