Thursday, June 24, 2010

The Goverment by the people- and for the banks in Iceland

Iceland members of parliement want to save the banks , not the public.
Even after the Icelands Supreme Court,ruled that the loans based on foreign currency where illeagal.
Most of the loans had little interests, and the supreme court ruled that using foreign currency , that is , the loan in Icelandic Kronas had little interests but would follow the currency rate on foreign currency when you paid the loan.
But the Supreme court only said that using the foreign currency was illeagal, but not anything else in the loan contract.
Wich means that the loan should be paid back , in Icelandic kronas,and the interests rate that are in the loan contract.
But at the same time loans in Icelandic kronas, had interests and Price guarantee,using inflation index.
So that interests rate was much higher.
But now members of parliement are trying to add interests rate on the loans , that the supreme court said are illeagal.
Financial institutions ,banks and so on in Iceland, are now trying to find ways, to ignore the Supreme court, and add interests rates, so they will get more out of the loantakers.
Does not matter what Political party in Iceland you ask, they are not working for the voters of Iceland , they are working for the Banks , and helping them in any way that they can.
The public in Iceland , is an acceptable loss in the Banking Crisis here in Iceland


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