Trouble in Iceland

[Filuwaúrdjan]

http://www.guardian.co.uk/world/2008/oct/05/iceland.creditcrunch

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/creditors_call_time_on_iceland.html

[Filuwaúrdjan]

Haha, I love this term; "Krutt-kynslotin". I think it deserves to be used more widely.

[Joe Republic]

Haha, I love this term; "Krutt-kynslotin". I think it deserves to be used more widely.

I agree, but only if we can select our own definition and application of it.  For example:

"Carl, did you scratch my Krutt-kynslotin?  Damn it Carl, that cost me a hundred bucks.  I oughta punch you in the mouth."

[2952-0-0]

http://finance.google.com/finance?q=eurisk

At this rate Iceland will be demoted to Banana Republic (Cod Republic?) status by Christmas.

[minionofmidas]

http://finance.google.com/finance?q=eurisk

At this rate Iceland will be demoted to Banana Republic (Cod Republic?) status by Christmas.

Puffin Republic.

[Harry Hayfield]

BBC publishes list of councils with Icelandic funds (Control refers to last local elections)
Kent: £50 million Conservative
Cornwall: £5 million Liberal Democrat
Dorset: £28.1 million Conservative
Somerset: £24 milion Liberal Democrat
Westminster: £17 million Conservative
North Lincolnshire: £5½ million NOC
North East Lincolnshire: £2½ million NOC
East Lindsey: £3 million NOC
Sutton: £5½ million Liberal Democrat
Hillingdon: £20 million Conservative
Havering: £12½ million NOC
Hertfordshire: £17 million Conservative
Powys: £4 million NOC / Ind
Flintshire: £3.7 million NOC
Rhondda: £3 million NOC
Monmouth: £1.2 million Conservative
Buckinghamshire: £5 million Conservative
Barnet: £27 million Conservative
Cheltenham: £11 mllion Conservative
Gloucester: £2 million NOC
Tewkesbury: £1 million Conservative
Wiltshire: £8 million Conservative
Transport for London: £40 million (under the authority of the Assembly NOC and Mayor Conservative)

Total amount: £293 million

[afleitch]

Conserting the stonking gains made by the Tories in recent years, hopefully we will see a list of the parties that controlled the councils when the investments were made. Still - councils do this all the time, the only unusual part of it is that the banks are not doing so well.

[Filuwaúrdjan]

Rhondda-Cyon-Taff has a (big) Labour majority, Havering has a (big) Tory majority, North Lincs has a (narrow) Labour majority. But RCT had a Plaid majority until 2003, North Lincs a Tory majority until 2007 (or was it 06), Havering has only been Tory run since 2002... and so on and so forth. But I doubt that this sort of thing has much to do with the political administrations (both at the time and now) anyway. There's certainly no partisan pattern.

But the actual lists, looking at the BBC news website again, look to be much longer than that one. I note that the county council up here appears to be one it (as does the one where you are, Harry).

[Harry Hayfield]

(The second storm to hit Iceland this week)

Latest BBC list (as of 1720 BST October 9th 2008
Kent County Council - £50 million
Nottingham City Council - £42 million
Norfolk County Council - £32.5 million
Dorset County Council - £28.1 million
Hertfordshire - £28 million
Somerset County Council - £25 million
Northumberland County Council - £23 million
Surrey County Council - £20 million
Hillingdon Council - £20 million
Barnet Council- £27 million
Westminster Council - £17 million
Brent - £15 million
Caerphilly County Council - £15 million.
North Ayrshire - £15 million
Plymouth City Council £13 million
Breckland Council - £12 million
Havering Council - £12.5 million
West Sussex - £12.9 million
Gloucestershire County Council - £12 million
Cheltenham Borough Council - £11 million
Lancashire County Council - £10 million
Cambridge City Council - £9 million
Wakefield - £9 million
West Oxfordshire District Council - £9 million
Wyre Forest District Council - £9 million
Cheshire County Council - £8.5 million
Bassetlaw District Council - £8 million
Bristol City Council - £8 million
Daventry District Council - £8 million
Wiltshire County Council - £8 million
South Lanarkshire Council - £7.5 million
Derwentside District Council - £7 million
North East Lincolnshire Council - £7 million
West Lindsey District Council - £7 million
Cherwell District Council - £6.5 million
Redcar and Cleveland Council - £6 million
Lancaster City Council - £6 million
Canterbury City Council - £6 million
Ceredigion - £5.5 million
North Lincolnshire Council - £ 5.5 million
Sutton Council - £5.5 million
Bromley Borough Council - £5 million
Stoke-on-Trent Council - £5 million
Braintree District - £5 million
Buckinghamshire - £5 million
Cornwall County Council - £5 million
Exeter City Council - £5 million
Ipswich Borough Council - £5 million
Oxfordshire County Council - £5 million
South Ayrshire - £5 million
Wokingham Borough Council - £5 million
Gateshead Council - £4.5 million
Oxford City Council - £4.5 million
Colchester Borough Council - £4 million
East Lindsey District Council - £4 million
East Staffordshire Borough Council - £4 million
North Wiltshire District Council - £4 million
Powys Council £4 million
Rotherham Council - £3.8 million
Flintshire Council - £3.7 million
Aylesbury District Council - £3 million
East Ayrshire - £3 million
North Somerset - £3 million
Doncaster Council - £3 million
Rhondda Cynon Taff Council - £3 million
Solihull Council - £3 million
Stroud - £3 million
Slough Council - £2.5 million
South Oxfordshire District Council - £2.5 million
Wycombe District Council - £2.5 million
Cotswold District Council - £2 million
Gloucester City Council - £2 million
Great Yarmouth - £2 million
Moray Council - £2 million
Newark and Sherwood District Council - £2 million
South Ham District Council - £1.25 million
Monmouthshire Council - £1.2 million
Dover District Council - £1 million
Bridgend Council - £1 million
Hertsmere Borough Council - £1 million
Kirklees Council - £1 million
Perth and Kinross Council - £1 million
Tewkesbury Council - £1 million
Vale of White Horse District Council - £1 million
Winchester - £1 million
Sevenoaks District Council - £1 million
Tonbridge and Malling Borough Council - £1 million
Lewes District Council - £1 million
Bracknell Forest - TBC
Burnley Council - TBC
Chorley Council - TBC
North Ayshire - TBC
Wychavon District Council - TBC

[SPQR]

Bad news for West Ham United,too.

[opebo]

Haha, I love this term; "Krutt-kynslotin". I think it deserves to be used more widely.

I agree, but only if we can select our own definition and application of it.  For example:

"Carl, did you scratch my Krutt-kynslotin?  Damn it Carl, that cost me a hundred bucks.  I oughta punch you in the mouth."

Back home it usually cost me around $100 to get my krutt-kynslotin scratched. 

[Ban my account ffs!]

Geeze.. I thought we were in dire straits... but at least we can threaten to tear the entire world down economically if people start getting smart with us.

Poor Iceland put all their eggs in one Krutt-kynslotin.

[Erc]

Was in Iceland this summer, and, excepting the continually declining value of their currency, thing seemed fine.

Guess I should have waited a bit longer, would probably have been cheaper to visit the place next year.

[2952-0-0]

And of course some smart kid is selling Iceland on EBay:

http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=320308801162#description

I assume the many billions of financial liabilities are included.

[True Federalist (진정한 연방 주의자)]

Unfortunately EBay UK has no sense of humour, as they've removed the listing.

[2952-0-0]

This has gone viral in Reykjavik lately.

[Ban my account ffs!]

Yeah, Russia offering Iceland a $4 bn loan scares the sh**t out of me.  I seriously hope that they don't take it... and that the EU can offer them the same loan.

[True Federalist (진정한 연방 주의자)]

This has gone viral in Reykjavik lately.

Why would Putin be on such a low valued note?

[GMantis]

Yeah, Russia offering Iceland a $4 bn loan scares the sh**t out of me.  I seriously hope that they don't take it... and that the EU can offer them the same loan.

I think the reason is exactly that no one else will offer them a loan - with reason. If Iceland was a business it would be bankrupt by now.

[Angel of Death]

Will the Icelanders now be scared into seeking future membership of the EU?