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Gordon Brown accused of sabotaging Iceland economy

Posted By admin On October 11, 2008 @ 4:19 am In Money Watch | Comments Disabled

James Kirkup, and Rowena Mason
London Telegraph [1]
Saturday, Oct 11, 2008

The war of words between Britain and Iceland has intensified as Iceland’s prime minister accused Gordon Brown of undermining his country’s economy.

Geir Haarde also confirmed that Icelandic creditors will get priority over British customers as the country’s fallen banks’ money is returned.

British savers and companies and a growing range of public bodies all have billions of pounds potentially trapped in collapsed Icelandic banks.

The prospect of that money being lost this week drove Mr Brown to publicly threaten retaliation against Icelandic firms and question the country’s economic prospects.

(Article continues below)

At a press conference in Reykjavik, Mr Haarde said Mr Brown’s outspoken public threat to seize the assets of Icelandic companies was “illegal.”

He said that the British Government’s assessment of Iceland’s prospects had fuelled the collapse of the country’s currency.

Iceland’s banking collapse is threatening its entire economy, and the country is widely expected to seek financial aid from the International Monetary Fund in the coming days.

Mr Haarde said:”The remarks made by Gordon Brown were unfortunate and dispiriting. It was not very helpful to say that our country is virtually in default, which is not a true description. The suggestion was not helpful to us as far as the markets were concerned today.

Full article here [1]


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[1] London Telegraph: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3175405/Financial-crisis-Gordon-Brown-accused-of-sabotaging-Iceland-economy.html

[2] Gordon Brown ordered to ‘curb volcanic temper’ after he was accused of abusing Downing Street staff: http://www.prisonplanet.com/gordon-brown-ordered-to-curb-volcanic-temper-after-he-was-accused-of-abusing-downing-street-staff.html

[3] Britain to loan Iceland three bln pounds to repay savers: report: http://www.prisonplanet.com/britain-to-loan-iceland-three-bln-pounds-to-repay-savers-report.html

[4] G20 summit: blow for Gordon Brown as £1.4 trillion spending blueprint is leaked: http://www.prisonplanet.com/g20-summit-blow-for-gordon-brown-as-14-trillion-spending-blueprint-is-leaked.html

[5] Universally Reviled & Unelected Prime Minister Gordon Brown Calls Global Warming Skeptics “Flat Earthers”: http://www.prisonplanet.com/universally-reviled-unelected-prime-minister-gordon-brown-calls-global-warming-skeptics-flat-earthers.html

[6] Gordon Brown to push for ‘Tobin tax’ after Wall Street crackdown: http://www.prisonplanet.com/gordon-brown-to-push-for-tobin-tax-after-wall-street-crackdown.html

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