Does the Icelandic Bank owe deposit money to Dutch customers?How is this situation affecting the Netherlands? Did Dutch customers have Ice-Save accounts same as in Britain? Are they taking action against Landsbanki? If yes, are the Dutch taking a friendlier approach than the Brits? |
Yes Dutch customers have also had savings accounts with the internet savings bank Icesave.
Both the UK & NL have reembursed savers although the first €20,000 was legally Iceland's responsibility, and the debt lies with the countries (In the case of the Netherlands then it is a loan of €1.3 billion and a total of €3.8 billion). So now there is a lengthy (already for 1.5-2 years) discussion about how this should be repaid and about what interest is due on top of this.
Icelandic people (understandably) feel that they should not be the ones responsible for the actions of irresponsible bankers (who like ones in all countries award themselves nice bonuses when the going is good, yet do not feel the pain when the going is bad). A referendum was held and 93% of Icelanders rejected the proposals on the table to repay the debt
So that's a summary of the situation. What happens now? Well back to the drawing board, inter-countries discussions, a lot of showmanship from governments (both NL & UK political parties face elections in the coming months so there will inevitably be "strong words") The issue of Iceland not being able to be allowed into the EU will be used also inevitably (not a big deal for a country which has managed without it so far)........ and eventually (this will probably take years rather than months) there will be a compromise by all parties. This is always the way it goes with any major issue
It is unlikely that the Netherlands will make a deal which is different to one made by the UK, but ok in theory it can happen. Stranger things have taken place in international politics!
However, don't worry Eric, there will not be an Anglo-Dutch war (as amusing as this was when I read it :0)) For a start it is not in the interests of either party to have a war with an ally, and especially not over such a nominal amount (take into account the costs that wars incur which run into figures way way in excess of this http://costofwar.com/ ). Thirdly both countries are members of NATO and understand the reprecussions of initating a war, and a 3.8billion loan does not constitute anything like a fundemental logic for starting a war.
P.S. The 14 year old Dutch girl is going nowhere in a hurry, you should keep up with the news! Anyway if she were to "lead the next Anglo-dutch victory" then this would infer it would be a collabatory victory and in which case then a British terrority wouldn't be invaded and claimed! Oh and Holland? Hardly likely that the population of two provinces of the Netherlands are going to war without the other 10 provinces, so take note to look at geography as well as current events :0)
