by alda on February 8, 2010
Director Gunnar Sigurðsson [Maybe I Should Have] was interviewed in Fréttablaðið this past weekend. Gunnar, as is well documented in his film, is going bankrupt, despite the fact that he has lived frugally.
I lived, and live, in a 60m2 apartment. I did buy myself a fairly good car [before the collapse] with a foreign currency loan and the payments were quite manageable when I bought it. I haven’t been spending money extravagantly. Yes, I do allow myself membership in Baðstofan at World Class because I aam comfortable there. I’ll try to keep that up, even though I’m going bankrupt.
Baðstofan is a luxury facility at the World Class fitness studio and costs about ISK 185,000 a year — as compared with ISK 65,000 for us plebs.
That’s what I call having your priorities in order.
by alda on February 8, 2010
There is much talk in the Icelandic media these days over remarks made last week by two high ranking Dutch officials during a hearing by an investigative committee. One is the head of the Dutch National Bank [their central bank], and the other an official with the Dutch Financial Supervisory Authority. During the hearing, both of them claimed that, when they had voiced their concerns over the Icesave accounts, Icelandic officials had lied to them about the status of the Icelandic banks.
Evidently few people in Iceland seem to doubt that their claims are true. However, there has been much speculation over just who lied. Initially, it was to have been the head of the Central Bank here in Iceland [presumably Davíð Oddsson], then there were reports that it had been the heads of the Icelandic Financial Supervisory Authority. No one seems to know exactly who was responsible for conveying the misleading information.
Predictably, Oddsson went on the offensive trying to convince everyone that it wasn’t him – hauling out the old chestnut about how he tried to warn everyone in government about what was imminent months before the collapse but nobody listened. Unfortunately, as pointed out in a Fréttablaðið editorial a couple of days ago, there is no documented evidence that Oddsson’s claims are true. However, there is plenty of evidence pointing to his incompetence – the Central Bank released a report about the supposed stability of the Icelandic banking system just a few months before the collapse, and Oddsson lowered the reserve requirement for Landsbanki at around the same time, to name just two. In other words, Oddsson totally saw the bank collapse coming – two weeks after it happened.
The latest is a Dutch newspaper clipping posted on Egill Helgason’s blog about Dutch National Bank director Nout Wellink’s dealings with his Icelandic compatriot. “He launched into a lengthy speech about the long-term potential of the Icelandic economy, about fresh springs, hot springs, fish and I don’t know what else. And how well the banks were doing,” said Wellink. That was on September 3, 2008. About a week later, that same Icelander told Wellink that, six months earlier, he had been sounding warning bells about the instability of the banking sector.
So, who lied?
by alda on February 5, 2010
Oh, man. I am so sick and tired of all the stuff going down here these days.
I don’t want to try to make sense of it, or think about it, or hear about it, or wonder about it.
This weekend I’m going to help AAH paint her room, I’m gonna go to the gym and run on the treadmill and then soak in the hot tub and look up at the sky. On Sunday I’m going to my dad’s for afternoon coffee to hang out with him and his wife and my siblings and their families. And maybe I’ll take a walk along the seashore.
I’m not going to think about Icesave, or fricking Hagar, or Jóhanna pandering to the EU, or all the homes about to go into foreclosure, or all the people out of work, or any of that other crap.
Oh, and the weather is cool and pretty and there’s hardly any wind. No snow, though. Temps -1°C [30F]. The sun came up at 9.56 am and set at 5.28. The day is becoming discernibly longer and that is SO good.
by alda on February 4, 2010
So, it looks as though the four parties in the Icelandic parliament are finally, FINALLY, arriving at a consensus on Icesave.
They’ve been having sessions behind closed doors with, quote, Icelandic and foreign advisors, unquote, who are presumably teaching them how to fight fair over Icesave.
I can just hear it now.
BJARNI BEN: I really find it hurtful Steingrímur when you say things about my party, like that we are responsible for Icesave and everything.
STEINGRÍMUR: I hear what you’re saying, Bjarni, but it really pains me when you keep saying we could have got a better deal. It’s upsetting, because the fact is that your party signed the original declaration that Iceland would honour its Icesave obligations …
BB: Steingrímur’s accusing me! Wah!
FOREIGN ADVISOR: Now, now, Steingrímur. Apologize to Bjarni.
SJS: Sorry Bjarni.
SIGMUNDUR DAVÍÐ GUNNLAUGSSON: Steingrímur if you promise never to bring up again that my and Bjarni’s parties were responsible for Icesave I promise I won’t collect any more signatures on the InDefence website to give to the President.
ICELANDIC ADVISOR: Steingrímur?
SJS: Oh, all right then.
BIRGITTA JÓNSDÓTTIR: Hey! How come I never get to have a say in anything?
At any rate they claim they’re going to reach a consensus by this weekend, at which time they’ll have polished their unified front, ready to face British and Dutch negotiators as a team. How comforting.
PS – you may wonder where Jóhanna is. She’s off having secret meetings with Jose Manuel Barroso.
