GD4ELI Posted October 7, 2008 Share Posted October 7, 2008 I only have this article in German http://www.tagesanzeiger.ch/wirtschaft/unt.../story/25047345 But it looks like Iceland has had it financially. The state has taken full control of the banks, is selling anything it can, the currency is almost worthless. Were the Island to get in the same shape (and this could happen) then the UK government would take over the Island's finances. You could well be doomed :-( Link to comment Share on other sites More sharing options...
Jimcalagon Posted October 7, 2008 Share Posted October 7, 2008 Oh noes! Where will I get my party-type frozen food now? Link to comment Share on other sites More sharing options...
GD4ELI Posted October 7, 2008 Author Share Posted October 7, 2008 "Supermarkets say ... they don't have the money to pay for imported goods so shoppers are being cautious. " "I was planning to visit England for a couple of weeks before Christmas, but I don't think I will be able to afford it. Buying British currency is becoming very expensive. Last year, a pound was worth 130 krona. Now it is 205 and it may even reach 300 krona." http://news.bbc.co.uk/2/hi/talking_point/7655309.stm Link to comment Share on other sites More sharing options...
pongo Posted October 7, 2008 Share Posted October 7, 2008 I only have this article in German http://www.tagesanzeiger.ch/wirtschaft/unt.../story/25047345 But it looks like Iceland has had it financially. The state has taken full control of the banks, is selling anything it can, the currency is almost worthless. Were the Island to get in the same shape (and this could happen) then the UK government would take over the Island's finances. You could well be doomed :-( I think that the big difference would be that the island is not running it's own currency. Link to comment Share on other sites More sharing options...
Lonan3 Posted October 7, 2008 Share Posted October 7, 2008 TIMES LINK British savers have been blocked from withdrawing funds from Icesave, the internet savings bank that is owned by Landsbank, after Iceland’s financial regulator took control of the country's second largest bank . The Icelandic government has dismissed the bank's board and put the institution into receivership. Confirmation of the move came from Iceland's banking minister this morning, as the Icesave bank, controlled by Landsbanki, said that 300,000 British savers with the bank would not be able to withdraw their money. British savers may now face a difficult struggle to extract their money from Icesave. Landsbanki is one of a handful of European banks operating in Britain which has the so-called passport exemption - meaning that when the bank fails, the first €20,000 (around £16,000) needs to be reclaimed from the Icelandic compensation system, not the UK system. Any further savings up to the maximum £50,000 now guaranteed by the British Government would still come from the UK scheme. Link to comment Share on other sites More sharing options...
Mutley Posted October 7, 2008 Share Posted October 7, 2008 Concern for IOM Bank (translated from the Manx) ……… Aye yessir Ellan Vannin trouble bank little girl Scottish Regal Bank Eurozone savers line in Athol Lane money worries boy. Tony Brown (electical implements sales person) tries calming Manks savers with hell on there talks in the House of Keys. Radio Vannin tells savers to wented home, have a bravag, time enough or there's a boat in the morning, yessir Link to comment Share on other sites More sharing options...
GD4ELI Posted October 7, 2008 Author Share Posted October 7, 2008 Concern for IOM Bank (translated from the Manx) ……… Aye yessir Ellan Vannin trouble bank little girl Scottish Regal Bank Eurozone savers line in Athol Lane money worries boy. Tony Brown (electical implements sales person) tries calming Manks savers with hell on there talks in the House of Keys. Radio Vannin tells savers to wented home, have a bravag, time enough or there's a boat in the morning, yessir That is so lifelike it's actually not funny! Link to comment Share on other sites More sharing options...
jimbms Posted October 7, 2008 Share Posted October 7, 2008 But it looks like Iceland has had it financially. Thats Shopshite fucked then. Link to comment Share on other sites More sharing options...
bluemonday Posted October 7, 2008 Share Posted October 7, 2008 On MR site Customers of the Isle of Man branch of the Icelandic bank Kaupthing, Singer and Friedlander have been given reassurances, after the country's second largest bank, Landsbanki, was taken over by the Icelandic government last night. A media statement issued this lunchtime says the Icelandic Central Bank has given Kaupthing a loan of 500 million Euros to "facilitate the continuation of business as usual". At the same time Iceland has received a 4 billion Euro loan from the Russian Government which, Kaupthing says, will "help stabalise the Icelandic krona and inject much needed liquidity into the country's financial system". The main message from the media release is that Kaupthing is a public company and will remain so, "with its strong leadership role in Icelandic financial markets". People with money in the local branch are being told the Isle of Man's Depositors' Compensation Scheme guarantees up to 75% of eligible protected deposits, subject to a maximum compensation payment to any one depositor of £15,000. It adds: "Deposits held with Kaupthing Singer & Friedlander in the Isle of Man are also guaranteed by Kaupthing Bank hf. To those trying to get though to the local branch, on the phone or via the website, the statement says the company's call centre is much busier than usual, due to the ongoing market turbulence. Kaupthing says it has strengthened its call centre team but there are still difficulties, and is appealing to customers to be patient and keep trying. Link to comment Share on other sites More sharing options...
Mutley Posted October 7, 2008 Share Posted October 7, 2008 Watch the queue form outside the door... Link to comment Share on other sites More sharing options...
pongo Posted October 7, 2008 Share Posted October 7, 2008 I wonder what the Russians want in exchange for their €bns. Link to comment Share on other sites More sharing options...
Tempus Fugit Posted October 7, 2008 Share Posted October 7, 2008 I wonder what the Russians want in exchange for their €bns. rights to extract oil in territorial waters ? Link to comment Share on other sites More sharing options...
mojomonkey Posted October 7, 2008 Share Posted October 7, 2008 I blame that Kerry Katona woman. Link to comment Share on other sites More sharing options...
oldmanxfella Posted October 7, 2008 Share Posted October 7, 2008 I blame that Kerry Katona woman. Yeah but apparently her husband is now out driving a taxi to pay off the national debt. Link to comment Share on other sites More sharing options...
TerryMcCann Posted October 8, 2008 Share Posted October 8, 2008 I blame that Kerry Katona woman. Yeah but apparently her husband is now out driving a taxi to pay off the national debt. Just a couple of 2am trips over the mountain and everything is sorted then Link to comment Share on other sites More sharing options...
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