Lögberg-Heimskringla - 01.10.2018, Page 2

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Morgunblaðið and ruv.is –
The British government owes
the Icelandic nation an apology
for invoking Britain’s Anti-
terrorism Act and for its conduct
in the Icesave matter. This is the
conclusion of political science
professor Hannes Hólmsteinn
Gissurarson. He submitted a
report on foreign influence
on the banking collapse in
2008. Hannes also said that
the Icelandic government’s
response to the banking collapse
could be a general lesson for
Europe and the entire world.
Giving priority to deposit
owners’ claims against banks’
bankruptcy estates eliminates
the need for providing banks
with a state guarantee, thus
reducing banks’ moral hazard.
Hannes said that the British
government’s measures at
the beginning of October
2008 had saved all British
banks except for two that
Icelanders owned – Heritable
and KSF. “They were denied
loan assistance and ordered to
close. The government thereby
discriminated on the basis of
nationality, which contravenes
rules on the European Single
Market. Nevertheless, the
European Commission did not
address that issue,” Hannes
said. The professor indicated
that two measures were
extremely important in the
chain reaction occurring during
the banking collapse: “Danske
Bank refused loan assistance to
Glitnir in September 2008 when
it planned to sell its Norwegian
bank. Consequently, Glitnir had
to apply to the Central Bank
of Iceland for an emergency
loan. That triggered the
banking collapse. The British
Financial Services Authority
closed KSF on October 8,
2008. Consequently, its parent
company in Iceland, Kaupþing,
collapsed because its credit
depended on the continuing
operation of KSF. That caused
the fall of the last remaining
bank,” according to Hannes.
During settlement, the
two banks that the British
government closed, Heritable
and KSF, proved to have
solid finances. An article
that Hannes submitted to
Morgunblaðið stated that, in
the view of now Lord Mervyn
King, then governor of the
Bank of England, Britons’
conduct toward Icelanders
when they invoked the British
Anti- terrorism Act was
shameful. At the time, he did
not conceal his opinion in
private conversations. Hannes
delivered his report this week to
Bjarni Benediktsson, Iceland’s
Minister of Finance and
Economic Affairs. The report
took four years to produce.
Hannes told mbl.is that the
report proved how shabbily
neighbouring countries had
treated Iceland.
Reprinted with permission
from Icelandic News Briefs,
published by KOM PR.
PROFESSOR SAYS BRITISH GOVERNMENT
OWES ICELANDERS AN APOLOGY Iceland’s president to get king’s journals
Morgunblaðið – Queen Margrethe II of Denmark will present
President of Iceland Guðni Th. Jóhannesson with a printed edition
of her grandfather’s journals (King Christian X of Denmark and
Iceland). She will visit Iceland on December 1st on the occasion
of the country’s centenary as a sovereign nation. The journals
contain about 500 tightly written pages regarding Christian’s
communications with Icelanders from 1908, when he was still
crown prince, to 1932. Christian ruled Denmark from 1912 to
1947. He was the last king of Iceland.
Meniga signs with biggest Internet bank
mbl.is – The Icelandic software company Meniga has signed a
contract with Tangerine Bank, the biggest Internet bank in Canada.
Meniga will introduce its solutions and offer the bank’s customers
a more personal user experience. The companies announced the
collaboration in New York at Finovate Fall, one of the world’s
largest financial technology conferences. Tangerine has more
than 2 million customers and is Meniga’s first customer in North
America. The company now collaborates with financial institutions
in more than 30 countries in Europe, Asia, and Africa.
Adopting international treaties
Morgunblaðið – Minister of Justice Sigríður Á. Andersen
has submitted a government bill to Alþingi on punishments for
genocide, crimes against humanity, war crimes, and crimes against
peace. Iceland will thereby be introducing into its national laws the
1948 Convention on the Prevention and Punishment of the Crime of
Genocide, the 1949 Geneva Convention, and additional protocols,
as well as the Rome Statute of the International Criminal Court.
Among other things, the bill should ensure that Icelandic authorities
will be able to take advantage of the complementary jurisdiction of
the International Criminal Court, besides themselves investigating
and charging for crimes over which the court presides.
PM says constitutional work is going well
Morgunblaðið – The chairs of the political parties with seats in
Alþingi met in September to discuss constitutional amendments.
Prime Minister Katrín Jakobsdóttir said the work was proceeding
smoothly. She was optimistic that the first stage of the work
would be presented during the current electoral period. “We are
farthest along with environmental and resource affairs, provisions
for national referenda, assignment of authority and constitutional
amendments,” Katrín said.
Minister calls for innovation policy for Iceland
kjarninn.is – Minister of Tourism, Industry and Innovation
Þórdis R. Gylfadóttir has appointed a task force to formulate a
comprehensive innovation policy for Iceland. The members of
the task force are representatives of the business community,
the university and scientific community, start-up and technology
companies, and political parties. The policy will be finished no
later than May 1st next year.
New ambassador to India
visir.is – Guðmundur Árni Stefánsson was recently appointed
as Iceland’s new ambassador to India. He took over the office
from Þórir Ibsen. Guðmundur was a member of Alþingi from 1993
to 2005. He was Minister of Health and Social Insurance from
1993 to 1994. He has also served in several positions in Iceland’s
Foreign Service, including ambassador to the United States,
Sweden, Argentina, Brazil, and Mexico.
Reprinted with permission from Icelandic News Briefs,
published by KOM PR.
The winners of the Icelandic Invitational Polo Tournament, which was played on September
9th this year, were Dayelle Fargey, from Winnipeg, and her teammates Anne Evamy, Alex
Green, and Jodi Morel. The Icelandic Invitational Polo Tournament, established in 1998 by
Benson Ranch Inc, is played each year at the Calgary Polo Club, the oldest continuously
operated polo club in North America, which was established in 1891. The Icelandic Cup was
presented to the winners by Susan Abbiati and Stephan V. Benediktson.
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