This attracted my attention today. I’m not sure though what my reaction should be. Is Iceland protecting its economy or are they taking advantage of the wholesale global mess?
http://www.telegraph.co.uk/finance/fina ... w_10102008
It would appear that a lot of the tax we’ve paid is tied up in this country fro one reason or another.
Iceland freezes bank deposits
Iceland freezes bank deposits
Its because Icelands banks have enourmous debts they can't honour, and don't have the deposit base (Iceland's population is 300,000 people) to cover them. Icelands banking sector is 800 percent greater than the entire GDP of the nation, thats totally unsustainable, and just another one of these credit boom nonsenses that have arisen worldwise, well, its reckoning time now.
In the last few years what they have been trying to do is improve the deposit capital they have by enticing UK savers to deposit in Icelandic banks, using very generous interest rates as bait. Unfortunately they also have borrowed enourmous sums to invest in UK property and several other quite unwise investment markets, and like a lot of banks they are now insolvent.
The problem is of course that Iceland is not in the UK, and its not even in the EU, so only the standard internation agreements apply for these depositors in Britain, the Icelandic Government is also broke and is refusing to bail out depositors the way that the UK government has, and it certainly is refusing to bail out foreign UK Nationals. Which is unethical, but they are within their rights as an independent non-EU country to do. Britain has retailiated by freezing all the assets of Icelandic banks in Britain, which is essentially a declaration of economic war, and icelands second bank collapsed today as a result, not a happy story for anyone involved.
Hence all of the diplomatic fighting between GB, and his Icelandic counterpart. My guess is that Iceland will default as a country, and it may be many many years before anyone in the UK gets a penny off the icelandics, lets face it, they are in their own self-created catastrophe, worse than the UKs, and also they don't have many options as they are not part of the EU. So, they are in very serious trouble now.
Fortunately they are still selling very budget priced frozen foods. :p
In the last few years what they have been trying to do is improve the deposit capital they have by enticing UK savers to deposit in Icelandic banks, using very generous interest rates as bait. Unfortunately they also have borrowed enourmous sums to invest in UK property and several other quite unwise investment markets, and like a lot of banks they are now insolvent.
The problem is of course that Iceland is not in the UK, and its not even in the EU, so only the standard internation agreements apply for these depositors in Britain, the Icelandic Government is also broke and is refusing to bail out depositors the way that the UK government has, and it certainly is refusing to bail out foreign UK Nationals. Which is unethical, but they are within their rights as an independent non-EU country to do. Britain has retailiated by freezing all the assets of Icelandic banks in Britain, which is essentially a declaration of economic war, and icelands second bank collapsed today as a result, not a happy story for anyone involved.
Hence all of the diplomatic fighting between GB, and his Icelandic counterpart. My guess is that Iceland will default as a country, and it may be many many years before anyone in the UK gets a penny off the icelandics, lets face it, they are in their own self-created catastrophe, worse than the UKs, and also they don't have many options as they are not part of the EU. So, they are in very serious trouble now.
Fortunately they are still selling very budget priced frozen foods. :p
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Iceland freezes bank deposits
This is in fact a little scary and demonstrates on a small scale how this could lead to international incidents and potentially war in the extreme.
The Iceland banks are crashing, their currency has fallen 30% vs the €.
To stop a run on the banks they freeze deposits. The UK has millions and millions saved in Icelandic banks and now cannot access the money, so they invoke the ‘anti-terrorist’ act against Iceland, a NATO partner, freezing Icelands assets in the UK.
Now Netherlands is looking at taking action against Iceland.
Iceland is so pissed off, and with no where else to turn asks Russia for a $5.5 Bill loan¦.. get that¦ A NATO friend needing to go to Russia for help!
Meanwhile, Russia is interested in the abandoned air force base in Iceland left behind by the Americans after the cold war¦¦
See where all this could lead in the absolute worst case?
Now imagine it on a large scale. What happens if large countries start defaulting on payments to other large countries and start freezing assets?
The Iceland banks are crashing, their currency has fallen 30% vs the €.
To stop a run on the banks they freeze deposits. The UK has millions and millions saved in Icelandic banks and now cannot access the money, so they invoke the ‘anti-terrorist’ act against Iceland, a NATO partner, freezing Icelands assets in the UK.
Now Netherlands is looking at taking action against Iceland.
Iceland is so pissed off, and with no where else to turn asks Russia for a $5.5 Bill loan¦.. get that¦ A NATO friend needing to go to Russia for help!
Meanwhile, Russia is interested in the abandoned air force base in Iceland left behind by the Americans after the cold war¦¦
See where all this could lead in the absolute worst case?
Now imagine it on a large scale. What happens if large countries start defaulting on payments to other large countries and start freezing assets?
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Iceland freezes bank deposits
mikeinie;1015119 wrote: This is in fact a little scary and demonstrates on a small scale how this could lead to international incidents and potentially war in the extreme.
The Iceland banks are crashing, their currency has fallen 30% vs the €.
To stop a run on the banks they freeze deposits. The UK has millions and millions saved in Icelandic banks and now cannot access the money, so they invoke the ‘anti-terrorist’ act against Iceland, a NATO partner, freezing Icelands assets in the UK.
Now Netherlands is looking at taking action against Iceland.
Iceland is so pissed off, and with no where else to turn asks Russia for a $5.5 Bill loan¦.. get that¦ A NATO friend needing to go to Russia for help!
Meanwhile, Russia is interested in the abandoned air force base in Iceland left behind by the Americans after the cold war¦¦
See where all this could lead in the absolute worst case?
Now imagine it on a large scale. What happens if large countries start defaulting on payments to other large countries and start freezing assets?
Money is power.
I am in no doubt that if things get really nasty, they will start defaulting. It will begin with the smaller countrie's no doubt.
The Iceland banks are crashing, their currency has fallen 30% vs the €.
To stop a run on the banks they freeze deposits. The UK has millions and millions saved in Icelandic banks and now cannot access the money, so they invoke the ‘anti-terrorist’ act against Iceland, a NATO partner, freezing Icelands assets in the UK.
Now Netherlands is looking at taking action against Iceland.
Iceland is so pissed off, and with no where else to turn asks Russia for a $5.5 Bill loan¦.. get that¦ A NATO friend needing to go to Russia for help!
Meanwhile, Russia is interested in the abandoned air force base in Iceland left behind by the Americans after the cold war¦¦
See where all this could lead in the absolute worst case?
Now imagine it on a large scale. What happens if large countries start defaulting on payments to other large countries and start freezing assets?
Money is power.
I am in no doubt that if things get really nasty, they will start defaulting. It will begin with the smaller countrie's no doubt.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
So, Iceland's government got greedy.
Somehow, their status as a country seems fragile right now.
Somehow, their status as a country seems fragile right now.
Iceland freezes bank deposits
i know this isnt much in the grand scheme of things and i know little of politics and all thats going on at the moment.
our council, last week, turned down the offer of hosting the "world life saving " championships. pleading poverty.
this would have bought several million pounds to one of the poorest counties in england. providing jobs and an income for many people in what has been a very hard year for us all.
to find they had invested £50 million in these banks and could / would not invest £750,000 to host this event has been a bitter pill to swallow !!
our council, last week, turned down the offer of hosting the "world life saving " championships. pleading poverty.
this would have bought several million pounds to one of the poorest counties in england. providing jobs and an income for many people in what has been a very hard year for us all.
to find they had invested £50 million in these banks and could / would not invest £750,000 to host this event has been a bitter pill to swallow !!
Iceland freezes bank deposits
mikeinie;1015119 wrote: This is in fact a little scary and demonstrates on a small scale how this could lead to international incidents and potentially war in the extreme.
The Iceland banks are crashing, their currency has fallen 30% vs the €.
To stop a run on the banks they freeze deposits. The UK has millions and millions saved in Icelandic banks and now cannot access the money, so they invoke the ‘anti-terrorist’ act against Iceland, a NATO partner, freezing Icelands assets in the UK.
Now Netherlands is looking at taking action against Iceland.
Iceland is so pissed off, and with no where else to turn asks Russia for a $5.5 Bill loan¦.. get that¦ A NATO friend needing to go to Russia for help!
Meanwhile, Russia is interested in the abandoned air force base in Iceland left behind by the Americans after the cold war¦¦
See where all this could lead in the absolute worst case?
Now imagine it on a large scale. What happens if large countries start defaulting on payments to other large countries and start freezing assets?
You are of course quite correct.
It also should illustrate to Irish people about the dangers of being so isolated as a nation when times get hard.
The Iceland banks are crashing, their currency has fallen 30% vs the €.
To stop a run on the banks they freeze deposits. The UK has millions and millions saved in Icelandic banks and now cannot access the money, so they invoke the ‘anti-terrorist’ act against Iceland, a NATO partner, freezing Icelands assets in the UK.
Now Netherlands is looking at taking action against Iceland.
Iceland is so pissed off, and with no where else to turn asks Russia for a $5.5 Bill loan¦.. get that¦ A NATO friend needing to go to Russia for help!
Meanwhile, Russia is interested in the abandoned air force base in Iceland left behind by the Americans after the cold war¦¦
See where all this could lead in the absolute worst case?
Now imagine it on a large scale. What happens if large countries start defaulting on payments to other large countries and start freezing assets?
You are of course quite correct.
It also should illustrate to Irish people about the dangers of being so isolated as a nation when times get hard.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
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Iceland freezes bank deposits
Galbally;1015236 wrote: You are of course quite correct.
It also should illustrate to Irish people about the dangers of being so isolated as a nation when times get hard.
ahem :p:p:p
It also should illustrate to Irish people about the dangers of being so isolated as a nation when times get hard.
ahem :p:p:p
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Iceland freezes bank deposits
The Daily Mail Friday Oct 10th
"Gordon Brown declared diplomatic war on Iceland last night.
He launched a furious attack on the "Illegal" refusal to pay back billions owed to British Investors in the country's failed banks.
The Prime Minister invoked rarely-used anti-terrorism powers to freeze Icelandic assets here as fears grew that vast sums of British cash could be lost.
The crisis has also hit doezens of charities which had investments of £230 million.
Whitehall sources fear Iceland is now effectively a bankrupt state. It owes the world an astonishing £35 billion - £116,000 for every man. woman and child.
Icelands Prime Minister Geir Haarde voiced dissapointment at the lack of assistance he has recieved from Western countrie's and threatened to find "new friends".That was seen as a clear reference to Russia, which has offered a four billion Euro loan.
There are claims - denied by Reykjavik - that the Kremlin wants the use of a former U.S. military base in return.
Mr Haarde said he told Mr darling he considered the use of anti-terrorism powers a completetely unfriendly act. "
Looks like my prediction not to mess with Gordon Brown has come true. :wah:
"Gordon Brown declared diplomatic war on Iceland last night.
He launched a furious attack on the "Illegal" refusal to pay back billions owed to British Investors in the country's failed banks.
The Prime Minister invoked rarely-used anti-terrorism powers to freeze Icelandic assets here as fears grew that vast sums of British cash could be lost.
The crisis has also hit doezens of charities which had investments of £230 million.
Whitehall sources fear Iceland is now effectively a bankrupt state. It owes the world an astonishing £35 billion - £116,000 for every man. woman and child.
Icelands Prime Minister Geir Haarde voiced dissapointment at the lack of assistance he has recieved from Western countrie's and threatened to find "new friends".That was seen as a clear reference to Russia, which has offered a four billion Euro loan.
There are claims - denied by Reykjavik - that the Kremlin wants the use of a former U.S. military base in return.
Mr Haarde said he told Mr darling he considered the use of anti-terrorism powers a completetely unfriendly act. "
Looks like my prediction not to mess with Gordon Brown has come true. :wah:
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
I don't have anything to defend my statement here. But it seems to me that the larger nations in this world have helped if not encouraged Iceland into this position where it owes more than it is worth. This just shows the type of financial transactions that have been going on in the last few decades and how fragile a structure the world economy has been built on. Money that simply doesn't exist has been in circulation it seems.
Just the same, this is an international crisis. Now is not the time to start shouting every man for himself. We gain to retrieve more if we help each other in this sort of situation.
The lives and careers of billions of people are in the hands of these people, our 'beloved' leaders. The least they could do is to behave accordingly and behave as adults.
This speaks millions to me of the true respect our leaders have for this world and the people in it.
Pah!!
Just the same, this is an international crisis. Now is not the time to start shouting every man for himself. We gain to retrieve more if we help each other in this sort of situation.
The lives and careers of billions of people are in the hands of these people, our 'beloved' leaders. The least they could do is to behave accordingly and behave as adults.
This speaks millions to me of the true respect our leaders have for this world and the people in it.
Pah!!
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Iceland freezes bank deposits
OpenMind;1015377 wrote:
Just the same, this is an international crisis. Now is not the time to start shouting every man for himself. We gain to retrieve more if we help each other in this sort of situation.
Why not??
I don't see any of those countrie's that Britain and America has bailed out in economic disasters, famine and civil war jumping to the negotiation table.
Just the same, this is an international crisis. Now is not the time to start shouting every man for himself. We gain to retrieve more if we help each other in this sort of situation.
Why not??
I don't see any of those countrie's that Britain and America has bailed out in economic disasters, famine and civil war jumping to the negotiation table.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
oscar;1015386 wrote: Why not??
I don't see any of those countrie's that Britain and America has bailed out in economic disasters, famine and civil war jumping to the negotiation table.
For the very reason given in the last sentence of the paragraph I wrote that you quoted.
Mob mentality. I recall that the unions used that tactic.
Did someone say that Iceland had a population of 300,000. Some of our towns have bigger populations. I believe I've read recently that Iceland may have some unmined resources and that there has been some interest in having a probe.
Mob mentality. Divide and conquer. If Iceland turns to Russia for aid to get away from the packs of wolves at the door, our governments would have only themselves to blame. Though I'm sure they would blame everyone else as per tradition.
I don't see any of those countrie's that Britain and America has bailed out in economic disasters, famine and civil war jumping to the negotiation table.
For the very reason given in the last sentence of the paragraph I wrote that you quoted.
Mob mentality. I recall that the unions used that tactic.
Did someone say that Iceland had a population of 300,000. Some of our towns have bigger populations. I believe I've read recently that Iceland may have some unmined resources and that there has been some interest in having a probe.
Mob mentality. Divide and conquer. If Iceland turns to Russia for aid to get away from the packs of wolves at the door, our governments would have only themselves to blame. Though I'm sure they would blame everyone else as per tradition.
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Iceland freezes bank deposits
OpenMind;1015397 wrote: For the very reason given in the last sentence of the paragraph I wrote that you quoted.
Mob mentality. I recall that the unions used that tactic.
Did someone say that Iceland had a population of 300,000. Some of our towns have bigger populations. I believe I've read recently that Iceland may have some unmined resources and that there has been some interest in having a probe.
Mob mentality. Divide and conquer. If Iceland turns to Russia for aid to get away from the packs of wolves at the door, our governments would have only themselves to blame. Though I'm sure they would blame everyone else as per tradition.
If we are supposed to feel sorry for them due to the population being only 300,000, then why did Iceland rack up such horrendous debts?
Now that it's gone tits up for them and Gordon is acting all Scottish, they are looking to Russia.
Bite, Hands, Feed comes to mind.
Mob mentality. I recall that the unions used that tactic.
Did someone say that Iceland had a population of 300,000. Some of our towns have bigger populations. I believe I've read recently that Iceland may have some unmined resources and that there has been some interest in having a probe.
Mob mentality. Divide and conquer. If Iceland turns to Russia for aid to get away from the packs of wolves at the door, our governments would have only themselves to blame. Though I'm sure they would blame everyone else as per tradition.
If we are supposed to feel sorry for them due to the population being only 300,000, then why did Iceland rack up such horrendous debts?
Now that it's gone tits up for them and Gordon is acting all Scottish, they are looking to Russia.
Bite, Hands, Feed comes to mind.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Iceland freezes bank deposits
OpenMind;1015397 wrote:
Divide and conquer. tradition.
Mob rule??
Isn't that exactly what we could call half of American governments supporting and funding the IRA.
To divide and conquer Ireland and England??
Divide and conquer. tradition.
Mob rule??
Isn't that exactly what we could call half of American governments supporting and funding the IRA.
To divide and conquer Ireland and England??
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
oscar;1015400 wrote: If we are supposed to feel sorry for them due to the population being only 300,000, then why did Iceland rack up such horrendous debts?
Now that it's gone tits up for them and Gordon is acting all Scottish, they are looking to Russia.
Bite, Hands, Feed comes to mind.
I don't feel one bit sorry for the Icelandic government. I feel sorry for their people. But maybe they haven't as much to lose as the rest of us. But their government got themselves into this mess. But that wasn't what I was talking about. I just think it's about time our leaders stopped behaving like the spoilt children they are.
Now that it's gone tits up for them and Gordon is acting all Scottish, they are looking to Russia.
Bite, Hands, Feed comes to mind.
I don't feel one bit sorry for the Icelandic government. I feel sorry for their people. But maybe they haven't as much to lose as the rest of us. But their government got themselves into this mess. But that wasn't what I was talking about. I just think it's about time our leaders stopped behaving like the spoilt children they are.
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Iceland freezes bank deposits
OpenMind;1015422 wrote: I don't feel one bit sorry for the Icelandic government. I feel sorry for their people. But maybe they haven't as much to lose as the rest of us. But their government got themselves into this mess. But that wasn't what I was talking about. I just think it's about time our leaders stopped behaving like the spoilt children they are.
The Icelandic people would have benifited from this money that their government borrowed.
I don't feel bad about being honest and saying that Gordon Brown has shown remarkable leadership here.
Why should we feel sorry for anyone when people in our own country have been losing their homes, having power cut off, and jobs axed for some years now?
This is not the time for bleeding heart liberals. It's time to get tough and say -- Payback. -- now Gordon Brown has done this, Iceland has gone belly up crying to the Ruskie's.
Boo hoo hoo Russia -- The nasty west won't play with us anymore.--- Good for Gordon Brown.
The Icelandic people would have benifited from this money that their government borrowed.
I don't feel bad about being honest and saying that Gordon Brown has shown remarkable leadership here.
Why should we feel sorry for anyone when people in our own country have been losing their homes, having power cut off, and jobs axed for some years now?
This is not the time for bleeding heart liberals. It's time to get tough and say -- Payback. -- now Gordon Brown has done this, Iceland has gone belly up crying to the Ruskie's.
Boo hoo hoo Russia -- The nasty west won't play with us anymore.--- Good for Gordon Brown.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
I don't feel bad about being honest and saying that Gordon Brown has shown remarkable leadership here.
Why should we feel sorry for anyone when people in our own country have been losing their homes, having power cut off, and jobs axed for some years now?
There's a contradiction of terms here. If losing our homes, having power cut off and jobs axed is a sign of good leadership, then I'm a cow's arse.
I somehow doubt that Iceland had much choice really considering the economical size of their country. It must have been either join in the affray or starve.
Let's get this right, did Gordon Brown and his cohorts lose homes, have power cut off, and jobs axed? No basis for sympathy if they haven't.
But there's no room for sympathy in an uncivilised environment.
Why should we feel sorry for anyone when people in our own country have been losing their homes, having power cut off, and jobs axed for some years now?
There's a contradiction of terms here. If losing our homes, having power cut off and jobs axed is a sign of good leadership, then I'm a cow's arse.
I somehow doubt that Iceland had much choice really considering the economical size of their country. It must have been either join in the affray or starve.
Let's get this right, did Gordon Brown and his cohorts lose homes, have power cut off, and jobs axed? No basis for sympathy if they haven't.
But there's no room for sympathy in an uncivilised environment.
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Iceland freezes bank deposits
OpenMind;1015458 wrote: I don't feel bad about being honest and saying that Gordon Brown has shown remarkable leadership here.
Why should we feel sorry for anyone when people in our own country have been losing their homes, having power cut off, and jobs axed for some years now?
There's a contradiction of terms here. If losing our homes, having power cut off and jobs axed is a sign of good leadership, then I'm a cow's arse.
I somehow doubt that Iceland had much choice really considering the economical size of their country. It must have been either join in the affray or starve.
Let's get this right, did Gordon Brown and his cohorts lose homes, have power cut off, and jobs axed? No basis for sympathy if they haven't.
But there's no room for sympathy in an uncivilised environment.
There was no contradiction intended in my post.
I for one have despaired at Gordon Brown as yes, you are right, it is the Blair/Brown leadership that has created the loss of homes, jobs and power.
I am stating that in this particular situation with Iceland --- Gordon Brown has done exactly what i would expect from any leader.
He has been strong and shown the world that Britain is not the pushover they or some thought.
Now Iceland goes running to the playground bullie's. Too little -- too late. If they feel they need to run to Russia -- kick them out of the EU.
Why should we feel sorry for anyone when people in our own country have been losing their homes, having power cut off, and jobs axed for some years now?
There's a contradiction of terms here. If losing our homes, having power cut off and jobs axed is a sign of good leadership, then I'm a cow's arse.
I somehow doubt that Iceland had much choice really considering the economical size of their country. It must have been either join in the affray or starve.
Let's get this right, did Gordon Brown and his cohorts lose homes, have power cut off, and jobs axed? No basis for sympathy if they haven't.
But there's no room for sympathy in an uncivilised environment.
There was no contradiction intended in my post.
I for one have despaired at Gordon Brown as yes, you are right, it is the Blair/Brown leadership that has created the loss of homes, jobs and power.
I am stating that in this particular situation with Iceland --- Gordon Brown has done exactly what i would expect from any leader.
He has been strong and shown the world that Britain is not the pushover they or some thought.
Now Iceland goes running to the playground bullie's. Too little -- too late. If they feel they need to run to Russia -- kick them out of the EU.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
oscar;1015466 wrote: There was no contradiction intended in my post.
I for one have despaired at Gordon Brown as yes, you are right, it is the Blair/Brown leadership that has created the loss of homes, jobs and power.
I am stating that in this particular situation with Iceland --- Gordon Brown has done exactly what i would expect from any leader.
He has been strong and shown the world that Britain is not the pushover they or some thought.
Now Iceland goes running to the playground bullie's. Too little -- too late. If they feel they need to run to Russia -- kick them out of the EU.
Essentially, I agree with this. I just feel that since we're all in the same boat, we should pull together rather than fight. This is the big boy on the small boy scenario. Russia will probably just absorb them as a satellite state in the end. Russia is very interested in this region of the globe at the moment.
While I think that Iceland are wrong to do what they are doing, they do appear to have been pressured into this. So they're just trying to keep hold of what they've got. But Brown's stance isn't helpful for anyone. We're all in the same boat and those two are rocking it. This is a major crisis affecting several nations. Those nations need to pull together. The phrase 'don't rock the boat' comes to mind. And this boat is very shaky indeed at the moment.
This is not a question of being neighbourly. It's economics. And we don't really want to give the Russians a chance to step in there.
I for one have despaired at Gordon Brown as yes, you are right, it is the Blair/Brown leadership that has created the loss of homes, jobs and power.
I am stating that in this particular situation with Iceland --- Gordon Brown has done exactly what i would expect from any leader.
He has been strong and shown the world that Britain is not the pushover they or some thought.
Now Iceland goes running to the playground bullie's. Too little -- too late. If they feel they need to run to Russia -- kick them out of the EU.
Essentially, I agree with this. I just feel that since we're all in the same boat, we should pull together rather than fight. This is the big boy on the small boy scenario. Russia will probably just absorb them as a satellite state in the end. Russia is very interested in this region of the globe at the moment.
While I think that Iceland are wrong to do what they are doing, they do appear to have been pressured into this. So they're just trying to keep hold of what they've got. But Brown's stance isn't helpful for anyone. We're all in the same boat and those two are rocking it. This is a major crisis affecting several nations. Those nations need to pull together. The phrase 'don't rock the boat' comes to mind. And this boat is very shaky indeed at the moment.
This is not a question of being neighbourly. It's economics. And we don't really want to give the Russians a chance to step in there.
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Iceland freezes bank deposits
Your right that we don't want to give Russia a chance to step in however, i believe that Britain has been too soft in the past when our own country suffers.
In this instance, i believe Brown has shown courage by saying to Iceland and Russia -- enough is enough.
If Iceland go with Russia they will end up being invaded at will anyway and have no say in their own economics. Next Russia will be wanting to put military bases in.
Britain can not afford to back down. I agree that it is a crisis and a world crisis but Brown will do more harm to Britain if he's seen to be weak and un-decisive.
Iceland has acted illegally by not and not wanting to pay this money back.
The Icelandic people won't give a toss about British Pensioners not being able to put the heating on this year, why should Brown care about them?
No-body wants this crisis to get any worse but Brown for once has shown the world what Britain can do.
In this instance, i believe Brown has shown courage by saying to Iceland and Russia -- enough is enough.
If Iceland go with Russia they will end up being invaded at will anyway and have no say in their own economics. Next Russia will be wanting to put military bases in.
Britain can not afford to back down. I agree that it is a crisis and a world crisis but Brown will do more harm to Britain if he's seen to be weak and un-decisive.
Iceland has acted illegally by not and not wanting to pay this money back.
The Icelandic people won't give a toss about British Pensioners not being able to put the heating on this year, why should Brown care about them?
No-body wants this crisis to get any worse but Brown for once has shown the world what Britain can do.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
oscar;1015386 wrote: Why not??
I don't see any of those countrie's that Britain and America has bailed out in economic disasters, famine and civil war jumping to the negotiation table.
I am not sure thats true, also there are a lot of countries that are not very happy with Britain and especially America either so its swings and roundabouts. The IMF has crucified a lot of economically poor nations in recent times, and perhaps those countries feel thats its time the west got a taste of its own medicine. What is important is that counties with interests that align stop whingeing or grandstanding and try to do something positive, hectoring at people isn't going to increase their willingness to cooperate.
I do think that Gordon Brown actually has an opportunity to do some good here, as he certainly has the intellectual ability and the understanding of global politics to help to find some form of globalized solution to this, because thats the only thing thats going to work. Britain as a leading member of the EU, the strongest American ally, and the location of the City of London also has a large amount of clout potentially, Certainly no one is going to listen to George Bush about anything any more, even his own people have had enough of him now.
I don't see any of those countrie's that Britain and America has bailed out in economic disasters, famine and civil war jumping to the negotiation table.
I am not sure thats true, also there are a lot of countries that are not very happy with Britain and especially America either so its swings and roundabouts. The IMF has crucified a lot of economically poor nations in recent times, and perhaps those countries feel thats its time the west got a taste of its own medicine. What is important is that counties with interests that align stop whingeing or grandstanding and try to do something positive, hectoring at people isn't going to increase their willingness to cooperate.
I do think that Gordon Brown actually has an opportunity to do some good here, as he certainly has the intellectual ability and the understanding of global politics to help to find some form of globalized solution to this, because thats the only thing thats going to work. Britain as a leading member of the EU, the strongest American ally, and the location of the City of London also has a large amount of clout potentially, Certainly no one is going to listen to George Bush about anything any more, even his own people have had enough of him now.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Iceland freezes bank deposits
oscar;1015466 wrote: There was no contradiction intended in my post.
I for one have despaired at Gordon Brown as yes, you are right, it is the Blair/Brown leadership that has created the loss of homes, jobs and power.
I am stating that in this particular situation with Iceland --- Gordon Brown has done exactly what i would expect from any leader.
He has been strong and shown the world that Britain is not the pushover they or some thought.
Now Iceland goes running to the playground bullie's. Too little -- too late. If they feel they need to run to Russia -- kick them out of the EU.
They are not in the EU so you can't kick them out, thats one of their major problems right now, they are in a very tight spot, their banks have basically wiped out the country, and their lack of international alliances makes them very exposed. I hope a resoulution is found soon, I understand why the British government is annoyed, but I also feel sorry for the Icelandics, no one would want this, and they are in a terrible, terrible situation now.
I for one have despaired at Gordon Brown as yes, you are right, it is the Blair/Brown leadership that has created the loss of homes, jobs and power.
I am stating that in this particular situation with Iceland --- Gordon Brown has done exactly what i would expect from any leader.
He has been strong and shown the world that Britain is not the pushover they or some thought.
Now Iceland goes running to the playground bullie's. Too little -- too late. If they feel they need to run to Russia -- kick them out of the EU.
They are not in the EU so you can't kick them out, thats one of their major problems right now, they are in a very tight spot, their banks have basically wiped out the country, and their lack of international alliances makes them very exposed. I hope a resoulution is found soon, I understand why the British government is annoyed, but I also feel sorry for the Icelandics, no one would want this, and they are in a terrible, terrible situation now.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Iceland freezes bank deposits
oscar;1015526 wrote: Your right that we don't want to give Russia a chance to step in however, i believe that Britain has been too soft in the past when our own country suffers.
In this instance, i believe Brown has shown courage by saying to Iceland and Russia -- enough is enough.
If Iceland go with Russia they will end up being invaded at will anyway and have no say in their own economics. Next Russia will be wanting to put military bases in.
Britain can not afford to back down. I agree that it is a crisis and a world crisis but Brown will do more harm to Britain if he's seen to be weak and un-decisive.
Iceland has acted illegally by not and not wanting to pay this money back.
The Icelandic people won't give a toss about British Pensioners not being able to put the heating on this year, why should Brown care about them?
No-body wants this crisis to get any worse but Brown for once has shown the world what Britain can do.
I understand what you are saying and I agree that Iceland are acting illegally. But in this instance, Brown just looks like a bully. Iceland are hardly on the same economical footing as we are. I'd like to see Brown stand up when it really counts.
How the hell did Iceland run up such a debt? Further, how come they stand as a nation with only 300,000 subjects? There's more to this than I think we know.
In this instance, i believe Brown has shown courage by saying to Iceland and Russia -- enough is enough.
If Iceland go with Russia they will end up being invaded at will anyway and have no say in their own economics. Next Russia will be wanting to put military bases in.
Britain can not afford to back down. I agree that it is a crisis and a world crisis but Brown will do more harm to Britain if he's seen to be weak and un-decisive.
Iceland has acted illegally by not and not wanting to pay this money back.
The Icelandic people won't give a toss about British Pensioners not being able to put the heating on this year, why should Brown care about them?
No-body wants this crisis to get any worse but Brown for once has shown the world what Britain can do.
I understand what you are saying and I agree that Iceland are acting illegally. But in this instance, Brown just looks like a bully. Iceland are hardly on the same economical footing as we are. I'd like to see Brown stand up when it really counts.
How the hell did Iceland run up such a debt? Further, how come they stand as a nation with only 300,000 subjects? There's more to this than I think we know.
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Oscar Namechange
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- Joined: Wed Jul 30, 2008 9:26 am
Iceland freezes bank deposits
OpenMind;1015538 wrote: I understand what you are saying and I agree that Iceland are acting illegally. But in this instance, Brown just looks like a bully. Iceland are hardly on the same economical footing as we are. I'd like to see Brown stand up when it really counts.
How the hell did Iceland run up such a debt? Further, how come they stand as a nation with only 300,000 subjects? There's more to this than I think we know.
Would you not be more annoyed if Brown were to tell the Icelandic government -- there there- don't you go worrying about that £35 billion you owe the world.
I'd be ashamed of Britain if he did.
He can't win can he really? If he trie's to find global solutions -- he will be labeled as weak.
He looks after Britain for once -- he's a bully.
How the hell did Iceland run up such a debt? Further, how come they stand as a nation with only 300,000 subjects? There's more to this than I think we know.
Would you not be more annoyed if Brown were to tell the Icelandic government -- there there- don't you go worrying about that £35 billion you owe the world.
I'd be ashamed of Britain if he did.
He can't win can he really? If he trie's to find global solutions -- he will be labeled as weak.
He looks after Britain for once -- he's a bully.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
oscar;1015595 wrote: Would you not be more annoyed if Brown were to tell the Icelandic government -- there there- don't you go worrying about that £35 billion you owe the world.
I'd be ashamed of Britain if he did.
He can't win can he really? If he trie's to find global solutions -- he will be labeled as weak.
He looks after Britain for once -- he's a bully.
The debt is owed and has to be repaid, as are the debts owed to Iceland. That works both ways. I don't expect anything less than repayment with interest. But there's no point busting their balls when they're broke.
As for looking after Britain - we should never have been allowed to get into this mess in the first place. Who was chancellor while Blair was running the gala show.
I'd be ashamed of Britain if he did.
He can't win can he really? If he trie's to find global solutions -- he will be labeled as weak.
He looks after Britain for once -- he's a bully.
The debt is owed and has to be repaid, as are the debts owed to Iceland. That works both ways. I don't expect anything less than repayment with interest. But there's no point busting their balls when they're broke.
As for looking after Britain - we should never have been allowed to get into this mess in the first place. Who was chancellor while Blair was running the gala show.
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Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
Iceland freezes bank deposits
Some councils found as much as £50 million to gamble on banks in Iceland.
Your happy to see your council tax rise to pay for the mistakes of a greedy Icelandic government?
Your happy to see your council tax rise to pay for the mistakes of a greedy Icelandic government?
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Iceland freezes bank deposits
oscar;1015611 wrote: Some councils found as much as £50 million to gamble on banks in Iceland.
Your happy to see your council tax rise to pay for the mistakes of a greedy Icelandic government?
That's a leading question.
What the hell were our councils doing gambling our money on fragile units? But then, isn't this why we've run into this downfall? Poor investment strategies? Greed?
Was my tax ever going to do anything other than rise? This was already being suggested before Iceland decided to lock their banks' doors.
Anyway, why aren't you in chambers provoking Brown? My opinion is worth nowt. Your questions are wasted on me.
G'nite.:yh_wink
Your happy to see your council tax rise to pay for the mistakes of a greedy Icelandic government?
That's a leading question.
What the hell were our councils doing gambling our money on fragile units? But then, isn't this why we've run into this downfall? Poor investment strategies? Greed?
Was my tax ever going to do anything other than rise? This was already being suggested before Iceland decided to lock their banks' doors.
Anyway, why aren't you in chambers provoking Brown? My opinion is worth nowt. Your questions are wasted on me.
G'nite.:yh_wink
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Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
Iceland freezes bank deposits
OpenMind;1015621 wrote: Anyway, why aren't you in chambers provoking Brown? My opinion is worth nowt. Your questions are wasted on me.
G'nite.:yh_wink
Your opinion is valid, that's why i'm provoking you. :yh_bye
G'nite.:yh_wink
Your opinion is valid, that's why i'm provoking you. :yh_bye
At the going down of the sun and in the morning, we will remember them. R.L. Binyon