Two of the three nationalized banks in Iceland - Glitnir and Kaupthing ,will be privatized again.Today at a press meeting ,the Prime minister and Finance minister announced that Glitnir and Kaupthing bank are going to be privatized again.
The new owners will be foreign parties that the banks owed during the banking crisis.
It will probably be big foreign banks and individulas that have claims to the banks.
Icelandic goverment will not say who the owners will be ,due to banking secrecy .
Thanks for updating, Dori! This turn has been personally expected, but still came as a surprise and a bit too fast. But from the other side, the people are waiting for action from the government. The confidential side of this event makes everything vague, so people can only make assumptions as to what is going to happen and where will money from privatization go. Of course, a lot is depending on the new foreign owners.
ReplyDeleteA very interesting topic since I am currently working over the research paper about transnational corporations (TNC) and the banking questions and the events happening in Iceland are of double interest.
All in all, I want to wish the people of Iceland strength and faith, right decisions and hope!
Dennis.