Landsbanki update in States
Thursday 29th January 2009, 2:29PM GMT.
THE chief minister and Treasury minister were called on to provide an update on Landsbanki during question time in the States yesterday.
Deputy Rhoderick Matthews asked Lyndon Trott what he had been doing .
Deputy Trott (pictured) said he had ‘spoken to the Icelandic finance minister on four occasions, the Icelandic Ministry of Finance on two occasions and had discussions with HM Government on 12 occasions,’ as well as other discussions.
Deputy Matthews asked why it was decided that measures proposed by the administrator – including a phantom compensation scheme which could have seen depositors get their money back sooner – should be ignored.
‘A phantom depositors compensation scheme would inevitably treat small depositors more favourably than larger ones,’ said Deputy Trott.
He said the administrators knew that all depositors must be treated equally and there could have been an unacceptable cost to the taxpayer to fund any shortfall if the suggested schemes were brought in.
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It would be useful therefore to know what form those discussions took, the outcome of the meetings, and what further steps will now be taken on depositor’s behalf. More information please Mr Trott.
Actions speak louder than words.
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Sadly, Minister Trott is ‘trotting’ out the same old, same old….
The administrator is duty bound to treat all depositors equally and as such would only suggest measures that do so.
Once again Minister Trott brings up the cost to the taxpayer – if the truth was reported it would be seen that it has NEVER been suggested that the taxpayer bail out Landsbanki depositors.
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