Landsbanki

Why has no one been arrested?

January 16, 2010

Many readers have expressed their astonishment and indignation here in the comments that those responsible for aspects of Iceland’s economic collapse – particularly those who made a lot of money that seems to have mysteriously vanished – have not been arrested and/or their assets frozen. Believe me, many of us here are wondering the same [...]

Full article →

Who needs paperwork when you own a bank

January 11, 2010

So, it seems that the liquidator of Samson ehf. – the majority owner in Landsbanki -  is having some trouble recovering a few of the company’s assets in the form of loans that Samson – the bank’s holding company – lent to companies associated with itself. One of the loans was for ISK 20 billion [...]

Full article →

Just what does the Icesave debt cover?

January 9, 2010

A reader who calls himself Strategist left this comment below a recent post: Hi Alda, from London I haven’t posted on this site before, but I think it’s really great, thanks very much for it. Now my first post is to ask a favour – I’d be very grateful if you or one of your [...]

Full article →

The discussion on Facebook

January 5, 2010

Predictably, social media sites are all aflutter with Icelanders variously expressing their indignation or jubilation. Here are a couple of Facebook statuses that have been making the rounds on my friends list. Gerard van Vliet [best frienf of InDefence] says in Telegraaf that a new opportunity has now opened up. The governments of Iceland and [...]

Full article →

My personal stand on Icesave

January 3, 2010

In the comments to the last post, someone who calls himself Gagnráðr asked me point-blank where I stand on the sticky topic of Icesave. A fair question. Like most Icelanders, I have, throughout the process of endless discussions and negotiations, been a] so sick of Icesave that I never want to hear the word mentioned [...]

Full article →

Icesave passed in parliament

December 30, 2009

Well, after a marathon session this evening, Iceland’s parliament finally voted to assume a sovereign guarantee for the Icesave debt by a narrow margin – 33-30. Prior to that, a proposal to postpone the vote yet again was rejected, as was a proposal to call a national referendum on the matter. I’m so relieved it’s [...]

Full article →

Parliament in chaos as new documents on Icesave appear

December 30, 2009

The vote on the Icesave issue, which was due to start at 10 am this morning, was postponed last night as new documents surfaced that had hitherto been kept secret. The documents are from British law firm Mischon de Reya and apparently they outline an advantage that the Icelandic authorities might have in negotiations with [...]

Full article →

Icesave: the hour is nigh

December 29, 2009

Tomorrow at 10 am, Iceland’s parliament will vote on whether to accept a sovereign guarantee for the Icesave debt. For anyone who does not know, Icesave were online savings accounts opened in the UK and Holland, that collected colossal sums in deposits from regular depositors. The Icelandic regulators, including many people who are still in [...]

Full article →

iPhones to fund moguls’ debt repayments?

November 25, 2009

Big news everybody:  iPhones have officially landed in Iceland, meaning we can now actually buy them here AND use them without having to hack them first. Apparently iPhones are this year’s Christmas present, or so the phone companies would have us believe. Incidentally, two of the three major telecommunications companies on the Icelandic market are [...]

Full article →

Doddsson’s runaway locomotive

October 18, 2009

There is something strangely fascinating about the slow-motion train wreck that is Morgunblaðið, now that Davíð Oddsson has taken over as its editor in chief. First, a whole lot of people cancelled their subscription to the paper following the announcement that Doddsson had been hired. The paper has declined to say just how many people [...]

Full article →

← Previous Entries

Next Entries →