Sigurjon Th. Arnason and Halldor J. Kristjansson, CEO’s of Landsbankinn sent a letter to the Dutch Central Bank and the Icelandic Financial Authorities on September 23. last year where they said they were convinced that the Icelandic state would guarantee minimum deposits in Icelandic banks.
Morgunbladid reports this today and has a copy of the letter, sent to Jonas Fr. Jonsson, former head of the Financial Authorities. The letter was sent in response to the Dutch Central Bank demanding that Landsbankinn stopped accepting more deposits in Holland. The reason for that demand was that the Dutch worried about the state of the Icelandic economy and the ability of the Icelandic state to meet its obligations.
Yet another proof of Landsbankinn’s reckless behavior throughout the IceSave affair.
Related posts:
- Financial Times: Iceland criticises IMF, UK and Dutch
- IceSave: Really About Domestic Politics In Iceland – UK & Netherlands
- InDefence: Request For A Meeting With The Dutch Finance Committee
- IceSave: Silfur Egils And A Dutch-Icelandic Cooperation
- ATTENTION ICELAND IS NOT SAYING IT WON’T PAY ICESAVE (Video)
Robert Culfield
2 years ago
Banking whiz kids? More like Keystone Cops or 3 Stooges!
Landsbankinn Assured The Dutch That Iceland Would Pay | iceland today
2 years ago
[...] Continued here: Landsbankinn Assured The Dutch That Iceland Would Pay [...]
Vilhjalm A.
2 years ago
A good article (with rant) (in English) here:
http://icelandtalks.wordpress.com/2009/06/23/the-icesave-fraud-case/
The bankers also claim that “the Icelandic government had sent out a letter explaining their commitments regarding the guarantees in accordance to the EU regulations.”
The particularly shocking aspect (imo) of this story is that the banks were basically insolvent by around early 2006 (in other words, the assets and debts of the banks were the same) and the credit lines closed on the banks in mid 2007. So that opening the foreign accounts was just a way to get their hands on money, that the bankers knew they could not pay back.