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so ... ^do^ British people care that Icelandic banks are considered to be terrorists?

(10 Posts)
NotQuiteCockney Sat 18-Oct-08 08:49:27

To get Icelandic assets, after the banking collapse, the UK gov't used special anti-terrorist laws. This is pretty bloody outrageous - special laws are passed to deal with the terrorist threat, and they end up being used to deal with a banking failure?!?

TotalChaos Sat 18-Oct-08 08:50:11

Completely agree. The legislation must have been drafted amazingly widely to let this happen.

NotQuiteCockney Sat 18-Oct-08 08:53:17

Well, I gather it includes a lot of provisions about criminal assets. DH is thoroughly shock that it was misused this way, but I'm used to the RICO thing back home, that gets used however the gov't feels it can ...

OhYouBadBadKitten Sat 18-Oct-08 08:53:23

It is utterly outrageous. It was pretty obvious when the laws were being drafted that there was a huge potential for abuse. Its scary what gets passed as law under the guise of fear.

irishbird Sat 18-Oct-08 09:02:09

Message withdrawn at poster's request.

pooka Sat 18-Oct-08 09:09:18

I am just glad that the government has been able to freeze assets to contribute to getting our money back.

NotQuiteCockney Sat 18-Oct-08 09:15:21

I thought the Icelandic gov't had said it planned to honour the guarantee ...

pooka Sat 18-Oct-08 09:29:12

The prime minister inferred that they wouldn't; that they would of course attempt to secure the money of Icelandic investors, but that they would not be able to honour the guarantee for UK investors (which would have been the first £16k of any deposit per person).

Is all a bit blurry in my mind (because was a bit fraught at the time) but that was the gist of it.

Irishird right about the wide coverage of the act - not just anti-terrorism.

milge Sat 18-Oct-08 09:44:33

Icleandic banks are not considered to be terrorists. The Govt have invoked powers granted under a bill which includes the words terrorism.
However, one could argue that the Icelandic authorities ARE financial terrorists having just thrown 2 fingers at their equivalent of the FSCC and said "tough, we're keeping your millions of pounds" to all the investors who trusted the Icelandic authorities to keep their legally obligated promise.

onager Sat 18-Oct-08 10:24:25

I suppose that was the same 'anti terrorism' act used by local councils against people who don't put their bin out on time?

If it was in our interest this time then it must be ok and we can count on our government not to use it against us can't we.

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