Over the diplomatic incident between the UK and Iceland that has occurred.
Iceland went bankrupt a day or so ago (as in the country itself) evidently as it was supporting the banks, then realized it had over extended itself reportedly 50% beyond their GNP.
So they then stated they wouldn't guarantee the funds invested, etc.
A large part of the UK local councils and charities had their money in said banks. Icelandic Banks having done a massive business within the UK.
So the UK invoked the Terrorist Powers act or some such, and seized Iceland's assets within the UK.
I understand Iceland first said something on the lines of 'oh well, we can always go back to fishing' until someone pointed out that their primary customer was, you guessed it, the UK.
From what I have heard in snippets from the media, Iceland is now playing nice nice and in talks with the UK gov over the issue. On the lines of can we have our stuff back....please?
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I had a giggle over this..
Date: 2008-10-11 04:35 pm (UTC)Iceland went bankrupt a day or so ago (as in the country itself) evidently as it was supporting the banks, then realized it had over extended itself reportedly 50% beyond their GNP.
So they then stated they wouldn't guarantee the funds invested, etc.
A large part of the UK local councils and charities had their money in said banks. Icelandic Banks having done a massive business within the UK.
So the UK invoked the Terrorist Powers act or some such, and seized Iceland's assets within the UK.
I understand Iceland first said something on the lines of 'oh well, we can always go back to fishing' until someone pointed out that their primary customer was, you guessed it, the UK.
From what I have heard in snippets from the media, Iceland is now playing nice nice and in talks with the UK gov over the issue. On the lines of can we have our stuff back....please?