DV is putting the other mainstream media to shame. In the wake of the 6 billion ISK debt that Bjorgolfur Gudmundsson and Bjorgolfur Thor want downsized at Kaupthing, the paper has pointed out a small detail that describes the problems Iceland is facing in a nutshell.
The chairman of the board at Kaupthing is Hulda Dora Styrmisdottir, the daughter of Styrmir Gunnarsson, former editor in chief of Morgunbladid. Famously, Sverrir Hermannsson who was the CEO of Landsbankinn before it was privatized resisted the request of David Oddson that the bank should call in Styrmir’s 100 million ISK personal debts, making him bankrupt in the process. Morgunbladid was the main media beacon for the Independence Party and David wanted absolute control.
When Bjorgolfur Gudmundsson begot the bank from David, he of course borrowed money from it to buy Morgunbladid. He also relieved Styrmir of the huge debts.
Now Bjorgolfur needs relief, and guess whose daughter is in a difficult position. Damned if she does, damned if she doesn’t.
An eye for an eye, tit for tat or not?
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Einar Jón
2 years ago
What are the reasons for writing off any part of this debt?
They are personally responsible for these loans, so barring bankruptcy they should not be able to weasel out of paying.
The younger Björgólfur is supposed to have enough assets to pay for it – so why shouldn’t he?
Only 2 short weeks ago he said: “I’d like to do my part in helping Iceland get back on track financially.”
[Icelandic] http://www.pressan.is/Vidskipti/Lesavidskiptafrettir/bjorgolfur-thor-ekki-sa-dagur-ad-eg-hugsi-ekki-um-thetta-icesave-kludur
How is this helping?
ella
2 years ago
I seem to recall that Hulda Styrmisdottir was a news reporter for Channel 2 some years ago. What qualifications does she have for this job? Just curious, I’m not saying she doesn’t – she may have been studying finance and economics for all I know for the last decade and a half…
Dadi
2 years ago
http://www.leidtogaaudur.is/Felagi/20164/
She appears to be qualified in her own right.