Hello You All Brites

[argor]

hello you all brites i have seen that there are many britsits people on the forum's so i have a question
i am wondering why most of the British media even the bbc are reporting thing that are not true in the finical meash than is in iceland rite now when comparing the British media to the media that are in the Nordic country ´s you will see how many things they have reported that are not true like icelandic finical system did have a total and unterfincal crass it is true that 3 biggest Icelandic banks have been nationalize and there are now only 2 banks remaining in Iceland but there are 15 Sparisjóður they are most of them standing well and like Icelandic people are losing the pension also not true the Icelandic pension system is standing very well pension funds have billions in assets

thinks like iceland will not pay not pay the fist EUR 20,000 that not true also but you have to rememberer there were only icelandic bank that was not banking truue subsidiaries
subsidiaries like Heritable Bank are uk banks not icelandic
so icelandic government will not cover that Deposit that are in the subsidiaries
but the uk government do like them to do it also

for the Icelandic people life goes on like nothing happen

 

[Orkie]

I think they are only really interested in the story because a lot of local governments in the UK lost millions in Iceland, and a few charities too.

 

[jakshep2]

lol brites

 

[fade]

Plus the British Media, in particular the tabloid newspapers, absolutely love to blow things out of proportion.

 

[andyB911]

Are you for real?

My local council has lost 27million to icessave, so the effect is very real here.

And as for your thought that life will continue as normal in Iceland... dream on. It will end in an IMF bail out, austerity measures and a very drastic change in quality of life I'm afraid.

What is the interest rate currently? What is the exchange rate? Not that you'll find too many people wanting to buy Krona.

The whole problem is one of excess liquity. ie too much borrowing. From US sub-prime, to UK house prices to Icelandic Baugur and equivalent spending spree. Borrowing more than you can afford to pay back eventually bites you on the ar$e.

 

[argor]

Are you for real?

My local council has lost 27million to icessave, so the effect is very real here.

i understand that
QUOTE
And as for your thought that life will continue as normal in Iceland... dream on. It will end in an IMF bail out, austerity measures and a very drastic change in quality of life I'm afraid.


for the most part quality of life in iceland will not chance exports are growing most Icelandic companyś big or little like össur are standing well like for össur Sales up 6% from Q3 last year
rite now there are 2 big Aluminium smelting being built also there is a a new production factory for Becromal that will start PRODUCTION in desember and is also locking to double the PRODUCTION next year
also most Icelandic I.T company's like ccp are standing well
QUOTE
What is the interest rate currently? What is the exchange rate?

12,00% USD 112.69 kr EUR 151 kr DKK 20.26 kr GBP 194.92 kr
QUOTE
The whole problem is one of excess liquity. ie too much borrowing. From US sub-prime, to UK house prices to Icelandic Baugur and equivalent spending spree. Borrowing more than you can afford to pay back eventually bites you on the ar$e.


yes few company and the 3 banks but the Icelandic government and most Icelandic companyś are free of debts or have very little debts

 

[TaG]

I thought the problem was they had their assets frozen.



No one knows how much this will affect any country in the end, as it gets very complicated very quickly. Must say it's pretty scary stuff. At least we all have strong and capable governments that will lead us safely out of this crisis...


edit; smiley added to make it a little more obvious...

 

[argor]

I thought the problem was they had their assets frozen.

well that was the problem Gordon brow making announced that all Icelandic assets had been freeze then sending a letter to Icelandic government 3 day's later saying that it only freeze the assets of Landsbanki :rolleyes: that led to the downfall of kaupthing as people started to bevel that kaupthing had gone bankrupt

QUOTE

No one knows how much this will affect any country in the end, as it gets very complicated very quickly. Must say it's pretty scary stuff. At least we all have strong and capable governments that will lead us safely out of this crisis...


+1 B)

 

[andyB911]

It would appear your central bank doesn't share your confidence:

Iceland Central Bank comments

I'm not trying to put a downer on you - just pointing out that the repercussions will be quite severe and in this instance its not just a case of media hype.

The exchange rates mean that its hard for Icelandic companies to import goods and interest rates so high prevents investment to expand those companies not destroyed by the collapse.

The impact here in the UK and/or US won't be pretty either but less chance of needing an IMF bailout.

Anyway, did you invest your Krona in a Pandora? Nothing like some gaming to while away the economic blues.

 

[TaG]

Iceland Central Bank comments

QUOTE
'The next phase of the banking crisis will be difficult with severe economic contraction,' it said in a statement.
Don't you just love the language they use.

 

[argor]

It would appear your central bank doesn't share your confidence:

Iceland Central Bank comments

I'm not trying to put a downer on you - just pointing out that the repercussions will be quite severe and in this instance its not just a case of media hype.

The exchange rates mean that its hard for Icelandic companies to import goods and interest rates so high prevents investment to expand those companies not destroyed by the collapse.

The impact here in the UK and/or US won't be pretty either but less chance of needing an IMF bailout.

Anyway, did you invest your Krona in a Pandora? Nothing like some gaming to while away the economic blues.


i am not saying repercussions will not be bad i am saying the grow in exports will lessen the blow

 

[iprice]

I wish they'd export Kerry Katona to Iceland - her +!+$ can stay, but her gob has got to go!

 

[WarmFluffyUK]

Actually to be honest most of us couldn't give a monkeys, and it's Brit's not Brites . And I am Welsh! Britain is an amalgamation of 4 countries: England, Wales, Scotland and Northern Ireland!

 

[nickspoon]

I am a Brite and I am proud to be britsits!

 

[Goity]

I'm the new PSP model?

 

[moz]

Hull stinks