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No debts on October 1 in Iceland ?

By       Message Dori Sig       (Page 1 of 1 pages)     Permalink

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Ă"lafur Kristja'nsson, board member of Homes Interest group, accuses the
finance minister of threatening people in financial difficulty.

J. Sigfusson, Iceland's Finance Minister, says it's a serious matter and
irresponsible to encourage people to not pay their debts [sĂnar.ing]
loans for two weeks.

Starting on October 1st, the Home Interest group is going to encourage people to stop paying their loans for two weeks. That is to put pressure on the goverment and banks to take action and help the public. Assets have decreased in value while loans have increased. Even though people can pay their loans, many see that they can never own their house or car, due to the loans' increase.

government is helping companies and big shareholders, who got big loans ("bullet loans") before the Banking crisis, but after the banking crisis,
did not have to pay their loans. Such favors were bestowed to connected powers: the political parties and Bank Managers.

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do not see why they should pay for home loans, when the government, which promised last
spring to help families, has forgotten its promise to the public.

The President of Iceland signed today the Icesave agreement, which the Icelandic Parliament agreed to last Friday. Icelandic bloggers are not happy with that, and on Icelandic blog pages people have been telling what they think of that.

source: http://iceland-dori.blogspot.com/2009/09/no-debts-on-october-1-in-iceland.html


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I live in Iceland ,and have for some time been blogging about the Icelands Banking crisis. Also i take photos and videos. Have videos on youtube,and many from the Protests last winter in Reykjavik.

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