Sunday, 7 June 2009

Icesave - paying for other people's mistakes



Frankly, the UK does not come out of the Icesave collapse terribly well.

It used anti-terrorism laws to pressurize a small country to pay up on the debts of one of its bankrupt banks.

When these laws were passed, did anyone think that they would be used to settle a financial dispute? If New Labour are prepared to misuse this law in such a scandalous manner, how far would they go if they were really threatened?

It was classic Gordon Brown: "by any means necessary."

4 comments:

dearieme said...

Serves 'em right for nicking our cod.

Liam said...

One thing our state media channel omitted is that Iceland wont have to make any repayments for 7 years.

This tiny nation's ability to repay this huge sum is doubtful

This is just a stunt by our government to dupe us into thinking the the taxpayer isnt another £2bn out of pocket thanks to Brown's unfit for purpose FSA.

Anonymous said...

The Icelanders should tell Brown to shove it up his hairy arse! Teach the bugger!!

fajensen said...

When these laws were passed, did anyone think that they would be used to settle a financial dispute?

No, I personally didn't - but only because this is a dispute between countries.

The normal behavior is that: Any power we give to government will eventually be abused by government (until the buggers are violently overthrown, a new lot settles in and history repeats itself).

The exception to this circle of violence is still Switzerland - but I bet the EU is plotting already; cant have the plebes running around and deciding for themselves now, can we? Way above their station that!