Ah, me. Nothing quite like coming home to find that my bank has gone belly up. Yes, that is precisely what happened this morning, dear readers. The piles of post-holiday laundry and scores of unanswered emails were put on hold while our YT absorbed the alarming fact that Glitnir bank has rolled.
Our government moved swiftly and hammered out a bailout deal, which has already been passed. [Clearly they don’t sit around over here debating whether this is a fair expenditure of the taxpayer’s money like they do in the US.] We the taxpayers now own 75 percent in Glitnir, which I am the first to admit is a huge relief to the likes of YT who have their life savings stuffed away in their accounts and funds and whatnot. The Prime Minister and bank officials have spent the morning assuring the general public and staff of the bank that their money/jobs are safe. Worse news for the shareholders – many of whom were normal bank employees – whose shares have dropped by 85 percent.
Meanwhile myriad tongues are wagging about the scandalously high wages of Glitnir CEOs and the disgustingly high severance deals that have been handed out in recent years. Not to mention other examples of wild extravagance, such as changing the name of the bank from the perfectly acceptable Íslandsbanki to Glitnir [which a reader commented sounded like the name of an ointment that you’d apply to your nether regions, heh] a couple of years ago, with the accompanying huge expenditures in rebranding. Just saying.
Anyway! I’ve got lots to say about our recent holiday and loads of pictures to upload, more on that soon. The weather looks perfectly dandy out there now, sunny and calm, temps right now are 9°C [48F] – probably about as warm as the inside of our holiday apartment in Croatia. At least it has been delightful returning home to our toasty warm geothermally-heated home. Sunrise this morning was at 7.32, sunset due for 7.02 pm.