A political opportunity for a political solution

A political opportunity for a political solution

A political opportunity for a political solution

Two Governments must act now to secure the return of depositors savings.

With the recent news from Iceland that it is repaying the £2.3bn loan made by the UK Government last year to reimburse UK savers with Icesave, is it not time that the Isle of Man insisted that the Ministry of Justrice fulfil its political obligations and represent KSFIOM depositors in a similar attempt to get their money back. This loan repayment goes straight to the UK Government since Icesave depositors were repaid in full immediately before Christmas last year.

Here we are 8 months later and over 10,000 depositors, the majority UK citizens, in a subsidiary of another Icelandic Bank have only just received £10,000 of their savings, and there is little prospect of 100% return for many months and years, if at all. If the UK Government can use its influence on its own behalf, can it not fulfil its constitutional obligations and represent a Crown Dependency that needs to find a face-saving way out of the mess that it itself helped to create?

Following drawn-out negotiations, Iceland said it would now repay the £2.3bn plus interest.

Members of the Kaupthing Singer & Friedlander Depositors Action Group implore the governments of the UK and the Isle of Man to put the recommendations of the Treasury Select Committee into practice and work together to find an acceprtable solution for innocent people who have lost their money and more through the events surrounding the Banking crisis in October 2008.

It is no longer right or proper for these two governments to politic with people's livlihoods. They need to sort out a similar 100% recompense solution for KSFIOM depositors immediately and stop this discrimination against normal tax-paying UK citizens.
We ask the UK Ministry of Justice and the Isle of Man Government to give us our lives back. Do your jobs properly and put an end to this financial debacle before any more damage is done.

For more information:

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