Ossur Skarphedinsson, the Icelandic cabinet minister, was very happy about the outcomes of meetings about the deposits in Icelandic banks in the Netherlands. Talks with the Dutch delegation, which arrived to Iceland on Friday evening, were held earlier today.
“The discussions have up until now been very successful,” Skarphedinsson said at noon today.
“I think that a solution is on the horizon. The outcomes were developed during the last few days by ministers, specialists and advisers that were called upon in this matter,“ said Skarphedinsson and added that this solution would shortly be made public.
“I am very optimistic that the route we have decided to take in this issue can lead to a solution to the unsolved problems we are having with regard to deposits in various countries.”
Skarphedinsson stated that the Dutch delegation had been very determined at the meeting and knowledgeable about the issue.
Furthermore, he noted that Bjorgvin G. Sigurdsson, the Icelandic Trade Minister, will have phone meetings with 4-5 Trade Ministers of other countries involved in the Icelandic deposits issue during this weekend.
“I therefore hope that we will have covered the majority of the difficulties related to the deposits after the weekend,” said Skarphedinsson.
This not “fair”, but you can only claim your money back from Landsbanki. Landsbanki as a legal person is now or will soon be in a state of bankruptcy. It well end up getting dissolved. With its dissolution, its remaining debt to you will disappear.
This is how it works. When lending money, there is always the risk that the borrower will go bankrupt before paying back.
Mariska, I think it is not very likely that you’ll see back much more than € 100.000. Even if there’s any money left in Landsbanki for its creditors (including all Icesavers), it will be much less than the total amount of its debts.
Suppose 50% of the debts can be recoverd by the sale of all assets of Landsbanki. Then you’ll get back € 125.000 from Landsbanki instead of € 100.000 from the Dutch and Icelandic states. So the Dutch and Icelandic states will profit most from any money that can be recovered, as it will reduce the amount of money they have to cover under the guarantee system. If only 30% of the money can be recovered, you will receive € 75.000 from the Landsbanki and € 25.000 from the Dutch state to a total of € 100.000.
Why is there no agreement about a loan from Iceland for Dutch Icesave depositors with more than 100.000 Euro in their account. Our deposit at Icesave is 250.000 Euro. We will become 100.000 Euro by the Dutch government (the first 20.887 Euro still from Iceland). Our lost will be 150.000 Euro if Iceland does not agree on a loan for all the deposits above 100.000 Euro. For us it is an awful lot of money, which we have worked hard for. We are willing to wait for months or even years for the Icelandic economy to bloom again. By that time, can Iceland give us our money back???
Keep your heads held high Icelanders, You will always have a friend in Canada…. We will all come through this together.
Some people here sound so small, evil soul..
Shameful for you as human being.
Best regards to Icelanders.
Dear Sjoerd,
Really, first of all learn some decent english. Secondly, the people of iceland will be paying a lot of interest. The Dutch banks are obliged to pay everything above 20.887. The Dutch Bank has signed for this, so this can be no suprise and is a calculated risk.
I’am thankfull there is a solution now. I’ll hope iceland will make it through these rough times. I don’t wish anybody any bankruptcy.
Why do Dutch clients of a Icelandic nationalized bank need to use a Deposito Guarantee Scheme? A bank who did not declare bankruptcy and is owned by a government.
Why suffers the Dutch tax payers for the amount above > EUR 20.887, has to borrow money to Iceland and loose money above > EUR 100K?
We, the Dutch, are investors in the Icelandic financial institutions!! Actually not investors – it’s a gift! Please keep this in mind. All Icelandic citizens should be very grateful to the Dutch!
Dutch finance minister Bos: “The Icelandic government understands they would become the outcast of the western world if they did not meet this obligations”.
http://www.nu.nl/news/1784969/30/IJsland_komt_verplichtingen_na.html
whehehehe, just joking.
It is bullshit to claim a country, we are not americans.
Just wanted to pull a prank on the moderater ^^
But mine first reaction was real
Or better let’s claim Iceland and make it our 13th province. We build a couple of prisons so the people of iceland finally have a job. With the money they earn they can built up there financial system. And the Dutch would have a solution for crime problems.
I say, its a win-win situation.
So, iceland will pay up to 20.000 euro to each dutch client of IceSave. It’s a better solution what GB is doing holding the forgein iceland accounts hostage.
They had to do something or the Dutch would have held the football team of Iceland hostage. :P
But seriously we all made a lesson out of this, don’t do business with Iceland.
“I think that the solution is on the horizon.”, Skarphedinsson said.
All major Dutch news websites report there is already a solution. Our Dutch finance ministers said the delegation has made an agreement with the Icelandic authorities.
“An agreement is signed. The Icelandic authorities takes their responsibility.”, Dutch finance minister Bos in Washington (where he is for the IMF meeting).