Bjorgolfur Thor is no longer on the Forbes billionaire list.
And Hannes Smarason of FL Group fame personal debts to Landsbankinn amount to half the IceSave amount owed to the Brits and the Dutch according to the latest calculations. Of course without proper collateral or what?
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“Politicians looking for their 15 minutes of fame have to understand that the lifting of bank-secrecy means nothing else but a mass exodus of Icelandic customers to foreign financial institutions as soon as they have the chance to do so, with the accompanying damage for the Icelandic economy”.
- Sigurdur Einarsson, former Kaupthing CEO in Frettabladid
Sigurdur Einarsson has to understand that the way he and others ran the Icelandic banks during the last 7-8 years means nothing else but a mass exodus of Icelandic customers to foreign financial institutions as soon as they have the chance to do so, with the accompanying damage for the Icelandic economy.