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Kodiak
20-Nov-08, 16:47
Just on the News and is this just me or is there something not quite right with this.

The Govenment is to lend Iceland 2.2 Billion Pounds which will be a part of a support pack for it's failing banks. The Amouint represents the Debt of that Iceland owes the UK.

So the Government is Lending Iceland 2.2 Billion Pounds so that Iceland can pay back to the UK 2.2 Billion Pounds.

laguna2
20-Nov-08, 16:50
So you lend me £100 today, then next week I will ask you to lend me £100 so that I can pay you back????? Win win situation for me!!!!

As for the UK government, well ... I think they need to look at their logic in this matter again!

pat
20-Nov-08, 16:50
Agree with you K

It must make sense to someone - but not to me.

Time Uk kept its pennies to itself and halted giving to other countries when money is so scarce here.

Angela
20-Nov-08, 16:58
It does sound utterly crazy, but I'd imagine it's the only way that British investors -both individuals and organisations such as local Councils and Charities- are going to get their money back any time soon... when they need it.

I know Government money is our money, but this is a loan (in theory at least) and it does provide a way out of the undoubted problems faced by those who have invested in Icelandic banks and otherwise would have no access to their money right now.

So it sort of makes sense to me...in a rather strange kind of way! :roll:

gleeber
20-Nov-08, 17:04
It makes sense to me too.
Ive gained a better understanding of economics since this recent turmoil.
Its frightening. :lol:

George Brims
20-Nov-08, 19:24
Maybe the UK should wait a wee while, then quietly foreclose on Iceland, and take it over. Should stop the Shetlanders complaining about being the ignored furthest outpost of the UK!