Iceland Can't Afford to Pay Icesave

[Cees Binkhorst]

REPLY TO: D66 at nic.surfnet.nl

Aan de hand van experts ;)

Groet / Cees

Iceland Can't Afford to Pay Icesave
http://www.grapevine.is/News/ReadArticle/Iceland-Cant-Afford-to-Pay-Icesave
9.6.2010
Words by Paul Nikolov
Dutch financial guru Bert Heemskerk told reporters in Holland that he
doesn't believe Iceland will ever be able to fully repay deposits lost
in the defunct online bank Icesave.

Heemskerk believes that the amount owed is far too high for a country
the size of Iceland to be able to pay back, even with significantly
reduced interest rates. "If we talk about 100 years from now, they could
pay it back by then," he said in part, but added that even with an
interest rate of 1% or 2%, Iceland would still never be able to catch up
with paying back the full amount, if paying back the value of the
currency at a future time and not strictly the euro amount was taken
into account.

Heemskerk is well-known in Dutch business life, running one of the
country's largest banks, Rabobanka, from 2002 to 2009. He also predicted
the collapse of Landsbanki in the summer of 2008. At that time, he told
reporters that he believed the bank was on its way to bankruptcy, and
that anyone who put money in Icesave would likely never see it again.

**********
Dit bericht is verzonden via de informele D66 discussielijst (D66 at nic.surfnet.nl).
Aanmelden: stuur een email naar LISTSERV at nic.surfnet.nl met in het tekstveld alleen: SUBSCRIBE D66 uwvoornaam uwachternaam
Afmelden: stuur een email naar LISTSERV at nic.surfnet.nl met in het tekstveld alleen: SIGNOFF D66
Het on-line archief is te vinden op: http://listserv.surfnet.nl/archives/d66.html
**********