UK and Netherlands to sue Iceland

[Gerald]

The UK and Dutch governments are preparing court action against Iceland to recover 4bn euros (£3.5bn) lost when the country's bank system collapsed.

It follows a referendum in Iceland which rejected a repayment plan.

The UK said it was "disappointed" by the "no" vote, while the Dutch finance minister said the time for negotiations was "over".

Iceland's Finance Minister Steingrimur Sigfusson said that resolving the row in court would take at least a year.

The UK and the Netherlands say they are owed the money following the collapse of Icelandic savings bank Icesave. British and Dutch depositors were bailed out by their governments, which are now demanding their money back.

http://www.bbc.co.uk/news/business-13029210

Note: 10 April 2011 Last updated at 13:30 GMT

[TLAM Strike]

They had better watch it, Iceland might unleash another Volcano on Europe!

[Torplexed]

Originally Posted by TLAM Strike

They had better watch it, Iceland might unleash another Volcano on Europe!

Or they may unleash Björk.

[Gerald]

Originally Posted by Torplexed

Or they may unleash Björk.

And her, they may prefer to keep

[TLAM Strike]

Originally Posted by Torplexed

Or they may unleash Björk.

Quite sure that is a violation of Protocol I, III and IV of the CCWC...

[Gerald]

Originally Posted by TLAM Strike

Quite sure that is a violation of Protocol I, III and IV of the CCWC...

Yes, she is really one Conventional Weapons...

[jumpy]

If we're suing iceland for lost monies/revenue due to their banking crash, does this mean I can sue the UK government to recover my lost earnings due to the recession/crash here?
After all, taxes I paid went to bail out the banks in this country; that and the cuts cuts cuts in the economy have virtually killed the part of the construction industry I was working in (would still like to work in).

Perhaps I could be more specific: sue labour for their mishandling of the economy by spending everyone else's money and sue the coalition for it's sweeping cuts, which on the face of it, will not really do anything to reduce the national debt in real terms (as I understand it), apart from totally killing the jobs market for most ordinary folk.

I bet the total national debt for the united kingdom that there's no way in hell such a prospect would be taken even remotely seriously, as I'm just some poor sod who got screwed over by the recession, and had nothing whatsoever to do with its creation - like tens of thousands of other uk citizens...

EDIT: bjork is fine, just don't let her sing that 'quiet' song.... urgh! anything but that!

[STEED]

Originally Posted by jumpy

Perhaps I could be more specific: sue labour for their mishandling of the economy

I will back you up, any more Brits out there who want a piece of Labour?

[Gerald]

Originally Posted by jumpy

If we're suing iceland for lost monies/revenue due to their banking crash, does this mean I can sue the UK government to recover my lost earnings due to the recession/crash here?
After all, taxes I paid went to bail out the banks in this country; that and the cuts cuts cuts in the economy have virtually killed the part of the construction industry I was working in (would still like to work in).

Perhaps I could be more specific: sue labour for their mishandling of the economy by spending everyone else's money and sue the coalition for it's sweeping cuts, which on the face of it, will not really do anything to reduce the national debt in real terms (as I understand it), apart from totally killing the jobs market for most ordinary folk.

I bet the total national debt for the united kingdom that there's no way in hell such a prospect would be taken even remotely seriously, as I'm just some poor sod who got screwed over by the recession, and had nothing whatsoever to do with its creation - like tens of thousands of other uk citizens...

EDIT: bjork is fine, just don't let her sing that 'quiet' song.... urgh! anything but that!

"quiet' song",I agree with

[gimpy117]

Sorry your banks collapsed by accident! but...I'm gonna sue you!!!

[Jimbuna]

Well I reckon they've just destroyed their financial credibility in the eyes of the world......doubt they'll ever get any financial help in the future

[Gerald]

It could mean that if the island goes bankrupt again, so one might buy it and have a vacation home, or coming SubSim meetings are permament on the island,

[Jimbuna]

Originally Posted by Vendor

It could mean that if the island goes bankrupt again, so one might buy it and have a vacation home, or coming SubSim meetings are permament on the island,

Not at all...it simply means no potential lender will ever trust them again.

[Gerald]

Originally Posted by jimbuna

Not at all...it simply means no potential lender will ever trust them again.

Obviously, it is so, but the people of the country probably have not understood the willows, the politicians' decisions,unfortunately.

[Jimbuna]

Originally Posted by Vendor

Obviously, it is so, but the people of the country probably have not understood the willows, the politicians' decisions,unfortunately.

I somehow doubt it....they were well aware of the collapse of their banking industry (many suffered as a result) and knew the only way stability could be returned was with the aid of a financial bailout.