“Another € 10 billion for Greeks” – Telegraaf.nl

"Another € 10 billion for Greeks" – Telegraaf.nl

Berlin –

Against all allegations of billions of euros in Greece yet again has a new, third rescue package needed. For months, Prime Minister Samaras argued that Athens could solve its own problems. Reportedly the Hellenes get € 10 billion from the eurozone countries and the IMF

.

In May 2010, Athens was already € 73 billion emergency of her rescuers, two years later by another € 172 billion. According to the German magazine Der Spiegel, officials of all euro countries last week agreed on so-called “preventive financial assistance.” Which should come from the rescue program ESM. In exchange, Athens must take further order its budget, more cuts and stricter control tax revenue.

Signals

There are some new positive signals from the greatest source of concern in the eurozone. For the first time since 2007, the economy is growing again, unemployment, currently around 25%, which falls again. And one counts 23 million tourists this year, a record. But the Greeks remain are struggling to meet the demands of the troika of EU, ECB and IMF. Consideration is now to pay officials for performance. The Greek tax should be less lenient with late payers. However Hellas still has no functioning land registry, so it is unclear who on the parcels to the tax authorities must pay tax. Dutch experts should help.

At the end of this year to stop the payments of the euro countries Greece. The support of the IMF expires in 2016.

Rotate

Two months ago, in September, claimed the Greek Prime Minister Samaras during a visit to Berlin still that his

country “does not need support ‘. ,, Greece may again stand on their own feet. “Then interest rates rose in ten Greek bonds considerably. She first stood at 5.8% and later at 9%. Twirl Samaras is inconvenient to him, shortly before the presidential elections early next year. Opposition parties such as the far-left SYRIZA announced to reverse several economic reforms that the Troika demanded in recent years in exchange for support.

Jeroen Dijsselbloem, Minister of Finance and Chairman of the Eurogroup, gave earlier this year that a third rescue package for Athens’ is not unlikely. “He called cancellation of Greek debt in February ‘unwise’.

In an earlier stage, Prime Minister Antonis Samaras stated below yoke of the troika to want out. That he bends still is a blow to Samaras, given the February elections. The opposition parties, including the leftist SYRIZA, want to turn back several reforms to the EU, the ECB and the IMF in recent years demanded in exchange for emergency support.

Interest

In 2012, Greece threatened to leave the euro, which resulted in large fluctuations in the financial markets. Since September, when Samaras made his statements to continue on their own wish, increased interest rates on 10-year Greek government bonds considerably.

Minister of Administrative Reform Kyriakos Mitsotakis stated earlier that the Greek people must choose possible or held against the euro in February presidential elections in the country

.

class=”clear”

Trade Agreement between Russia and Iran leading – NieuwsUit.com

Trade Agreement between Russia and Iran leading – NieuwsUit.com

Russia and Iran are about to conclude a trade agreement.

The Russian Minister of Economic Affairs Alexei Oeljoekajev has said that Russia and Iran are on the verge to reach a trade agreement.

The deal, which is worth more than $ 20 billion, Iran will supply oil to Russia. In its turn, Russia will supply food and industrial material to Iran.
By closing this trade agreement try both Russia and Iran under the impact of coming out

sanctions imposed against them by the West.

The trade agreement between Russia and Iran, the two countries also produces substantial criticism from Western countries.

Still, the two underdogs this will not stop until the conclusion of this agreement. Expected that the trade agreement will be signed these days in Tehran.

© NieuwsUit.com

Greece still considering new loan – Financieele Dagblad (Registration)

Greece still considering new loan – Financieele Dagblad (Registration)

Greece intends to still accept a new emergency loan, together with the monitoring by the International Monetary Fund

Aan the end of this year put an end to the European emergency program for Greece. The program, with a total of € 240 billion in emergency loans, was rigged at the time of the euro crisis. Many European countries prefer to see that Greece at the end of this year to accept a new loan – with corresponding supervision of the IMF – to ensure a smooth transition from the emergency program

But the Greek Prime Minister Antonis Samaras wants to get rid of the loans and the involvement of the IMF to borrow on their own money in the capital markets.

//www.w3.org/1999/xhtml "> At a meeting of representatives of the ministries of finance of the eurozone, on 27 November, the Greeks were however still tack, Bloomberg reported according to insiders. They promised to will think about a new emergency loan under IMF supervision. It would be a short-term loan.

The change would mean a blow to Prime Minister Samaras, in anticipation of the Greek presidential elections in February. The opposition namely advocates an end to the emergency. They want to just roll back reforms that Greece must take in return for emergency loans, under EU pressure, the European Central Bank and the IMF.

The latest news on the first NU.nl – NU.nl

The latest news on the first NU.nl – NU.nl

That the Chief Executive of Hong Kong, Leung Chun-ying, said Saturday.

In 2009 there were still 1.04 million (16 percent). Hong Kong is one of the richest cities in the world. ” We are not yet satisfied. Poverty reduction will remain a priority in our policies, ” said Leung. He added that the government is in January with a detailed and comprehensive retirement plan.

Hong Kong has the highest concentration of billionaires in the world, mainly due to the ever rising real estate prices.

At the same time earns half of the Hong Kong

Chinese population less than 13,000 Hong Kong dollars (1,346 euros) per month. At 13 percent, the income even less than five thousand Hong Kong dollars (518 euros). Nearly half of the inhabitants live in government-subsidized homes.

In Hong Kong is already months protested against the influence of China. The protesters want free elections and demand that the current leader Leung step down

By:. ANP

The latest news on the first NU.nl – NU.nl

The latest news on the first NU.nl – NU.nl

That the Chief Executive of Hong Kong, Leung Chun-ying, said Saturday.

In 2009 there were still 1.04 million (16 percent). Hong Kong is one of the richest cities in the world. ” We are not yet satisfied. Poverty reduction will remain a priority in our policies, ” said Leung. He added that the government is in January with a detailed and comprehensive retirement plan.

Hong Kong has the highest concentration of billionaires in the world, mainly due to the ever rising real estate prices.

At the same time earns half of the Hong Kong

Chinese population less than 13,000 Hong Kong dollars (1,346 euros) per month. At 13 percent, the income even less than five thousand Hong Kong dollars (518 euros). Nearly half of the inhabitants live in government-subsidized homes.

In Hong Kong is already months protested against the influence of China. The protesters want free elections and demand that the current leader Leung step down

By:. ANP

Brent oil falls below $ 70 a barrel – Parool.nl

Brent oil falls below $ 70 a barrel – Parool.nl

28-11-14 22:17 pm – Source: Reuters

Oil Barrel Shell. © Reuters

The price of a barrel of Brent oil today for the first time since spring in 2010 to below 70 dollars dropped. Brent had earlier in the day to see a small recovery, but later dropped the price again deep way to $ 69.78.

The

price of Brent eventually closed 3.4 percent lower at $ 70.15 per flask (of 159 liters). US oil lost more than 10 percent to $ 66.15 a barrel.

Oil prices went down hard yesterday and today, after the oil cartel OPEC to keep production unchanged. In recent months, oil prices were already quite slicing

. (Edited by: Editorial)

Greater loss for Malaysia Airlines – Volkskrant

Greater loss for Malaysia Airlines – Volkskrant

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Pension for 2015 decreased by ABP – Focus on News

Pension for 2015 decreased by ABP – Focus on News

Heerlen

Pensioenfonds ABP lowers the premium for the retirement and survivor’s pension for 2015 of 21.6 % to 19.6%. This report ABP Thursday.

It is the pension for ABP pension scheme and ABP pension. For soldiers the premium is currently 26.9% of pensionable salary after deduction of the franchise, the portion of the salary on which military pay no pension. From 1-1-2015 this premium drops to 20.5%.

The premium decreases mainly because the temporary

recovery surcharge on the premium lapses. The recovery storage was a temporary increase in the premium which was introduced in 2009. This was part of the recovery plan to improve the financial position of ABP.

The premium for 2015 is also based on the agreement on the new pension per 1-1-2015 that the Pensions corresponded. The Pensions Board is the body where social partners agree on the content of the settlement.

KLM economizes € 700 million – RTV Noord-Holland

KLM economizes € 700 million – RTV Noord-Holland

Thursday, November 27th, 2014 | 19:08

AMSTELVEEN Airline KLM will cut back the years to € 700 million. This is contained in an internal document held by RTL Nieuws. KLM wants to keep up with the austerity of the competition.

The internal document, which can be read via RTV NH-new partner Luchtvaartnieuws.nl says CEO Pieter Elbers: “We have a flatter organization who can put down four percent increase in productivity per year Continue. our unit costs must every year 1.5 percent down and we need to make much better use our innovation and effectiveness. “

 

Earlier today it was announced that KLM stop hiring cabin crew. A spokeswoman for

the union for cabin (VNC) allows to Aviation News that it is a unilateral announcement of KLM. While the union speaks of a trend. “It is customary that the company shares its first collective agreement with the unions bet for them that makes publicized in a different way.”

 

The ability of rule actions by the cabin crew are not excluded by the VNC.

CNV gives course to deal with money – NieuwsUit.com

CNV gives course to deal with money – NieuwsUit.com

 

CNV indicates course dealing with money

 

Trade union CNV teaches employees Scania Zwolle to stay out of debt and to discuss financial problems.

It is not the first time that trade union CNV offers courses and training in the field of to handle money and staying out of debt. What is new is that the CNV this now doing in collaboration with a company.

At Scania Zwolle employs 1,600 people and like many companies in the Netherlands is also Scania Zwolle increasingly faced with wage garnishment for employees. Moreover, it appears that having financial problems leads to higher absenteeism among employees.

Under the motto prevention is better than cure, Scania, along with trade union CNV initiated a program whereby the first executives are trained to financial problems in employees better and earlier learn to recognize and to make the subject debt and financial problems negotiable.

What follows is a briefing where both general advice can be given concrete information. Moreover, those who are interested to sign up for the course dealing with money which taught how to get out of debt, how to save, how to cut and how to avoid debt.

© NieuwsUit.com

 

Lawsuit of which many follow – Noordhollands Dagblad

Lawsuit of which many follow – Noordhollands Dagblad

By Wilma Cort – 25-11-2014, 23:25 (Update 25-11- 2014, 23:25)

Groningen – She is perhaps in the interests of a few thousand Dutch, but they do it mostly for her aged father and mother she says. “My father is almost blind. My mother is severely incontinent. If the domestic worker is lost, the house gets dirty. “

Elderly couple fights delete help at home to

TV cameras are aimed at her lawyer. She herself remains anonymous, like her Frisian parents of 88 and 89 years. She wants to keep them outside. “Because they are old and all day busy with their flaws, they have not thoroughly that they are nationwide in interest,” she said afterwards.

Complaints Rain

The woman, only daughter, talk timid, but seems determined: she asks the court for a preliminary injunction is now the town Dantumadeel domestic help for her parents January 1 not will pay more. This has the municipality without examining their personal situation to know. The question is whether this is legally allowed. Twenty, mostly smaller municipalities have done the same and draw on January 1, all household help. It’s raining complaints.

The municipality Dantumadeel reasons: those who can not pay the help, but must object and then see if we

adjust. Also, an appeal can be made to the special assistance.

According to the lawyer, the couple can not afford itself the help. They live on a small pension and retirement. “It would cost them four to five hundred euros. Then they fall below subsistence level. “Although they are the owners of their apartment,” but you can not eat stones. ” The administrative court left no doubt: one’s income or assets may not play a role, teaches jurisprudence.

The couple now has seven relief provided by their own daughter who happens to work in home care. The lawyer: “The municipality has previously assessed the situation of Mr. and Mrs. and granted in 2012 for an additional hour assistance. What has changed that they could now suddenly yourself? “

The municipality acknowledged that no research has been done. But that all household help is removed, according to her lawyer a misrepresentation. “The municipality delete anything, but because of the limited budget makes choices. More and more people live at home longer and will need intensive care. We want to guarantee. It is common practice, even for people without disabilities, that they simply cleaning regulate itself. “Pronunciation on 9 December.

Ralph Hamers wants surgery ING pick out the ‘technological middle’ – Financieele Dagblad (Registration)

Ralph Hamers wants surgery ING pick out the 'technological middle' – Financieele Dagblad (Registration)

ING CEO Ralph Hamers

Dutch Height

ING ING Groep NV 11.66 +1.35% 0.16 + the next three years deletes 1700 jobs in the Netherlands. The bank wants to digitize his services, as the company announced on Tuesday.

The jobs will mostly disappear at the headquarters of the consumer bank , the administrative departments, call centers and IT departments. Apart from the regular courts, there is also put a line through 1075 jobs are filled by external service providers.

Customer Experience

In connection with the reduction of the number of jobs the bank takes in the fourth quarter a provision for taxes of € 320 million. The operation should result according to ING from 2018 to annual cost savings of € 270 million.

CEO Ralph Hamers emphasized in a note that the measures do not constitute a disguised way to boost the efficiency of the retail branch. “The reason is to improve the customer experience.” According to the CEO and CFO Patrick Flynn savings will not necessarily lead to a higher return on equity

■ Listen to an explanation of ING CEO Ralph Hamers at BNR

efficient

ING attracts € 200 million to further develop its IT system. That comes on top of the € 900 million that had already ready the bank to prepare the organization for a digital future.

According Hammers is the intention that Dutch customers will end up on a “omni platform. That means they Whatever the channel – mobile phone, computer, call center or branch, or a combination of all these possibilities – can go for all their needs at the bank

Dat means that a customer fills out a

mortgage online with the results at a later stage immediately get to work with an advisor. And a visit to a bank branch knows the employee that a customer already previously informed via a call center for a particular product.

ING in the middle

When it comes to an efficient IT infrastructure belongs ING according Hammers now only to the middle of the sector. Soon it will be the top, all that remains, according to the CEO ‘a moving target’.

The unions expressed Tuesday morning shocked the scope of the reorganization, though they can understand the reason behind it. According to the Christian trade union CNV reorganization unexpectedly gained momentum since three years ago it was agreed that ING had more gradually converge to a new organization. That appointment now appears in a harsh light, according to the association.

ING states that it will do its best to support of the employees involved in finding a new job. Hammers emphasizes that also new jobs will be created. The agreements with the unions determine the bank for each employee to see to what extent the person can develop further, inside or outside ING.

Associations

The unions said Tuesday to” shocked “by the measures at ING. “The number of job losses, I find on the high side,” says director Emanuel Geurts of the Union. He wants in the upcoming talks with ING to raise the bank considerable work for external employees. “The social plan of the bank is not applicable to them.”

Trend

The surgery at ING comes almost two weeks after a similar step of ABN Amro. That bank deletes thousand jobs in the retail, especially since customers visit less frequently offices. The reorganization at ING does not affect the branch network.

Rabobank grabbed last year heavily in. The increasing digitization of services disappear at local banks eight thousand of the thirty thousand jobs. Furthermore, close more than three hundred of the eight hundred offices their doors.

Professor: ‘shadow elite was gimmick – AD.nl

Professor: 'shadow elite was gimmick – AD.nl

Edited by: Editorial
25-11-14 – 04:22 Source: Reuters Mark Rutte would belong to the shadow elite. © anp.

The list of the shadow elite of the Netherlands in the book by Professor Ewald Engelen is a gimmick. That says financial geographer for yourself. “It was invented by the publisher. You have to make a book of 240 pages simply attractive, “he admits Tuesday in the television Always What KRO-NCRV, said

the newspaper.

Angels said to have later regretted that a list of names included in the book about two pages of the persons belonging to the shadow elite.

In addition, the names of the well-known economists Arnoud Boot and Sweder Wine Mountains next of Prime Minister Mark Rutte, ex-premiers Wim Cook and Jan Peter Balkenende, Mayor Eberhard van der Laan, former Minister Wouter Bos and a range of bankers and regulators.

Halfords restart failed – FOK!

Halfords restart failed – FOK!

Retailer Halfords is temporarily not restart. That made the curators of the chain that went bankrupt in early October on Monday. The approximately ninety outlets remain closed Tuesday, but the 28 franchises are open.

 

The curators are still in

talks with “a serious takeover candidate” who reported only at a very late stage. Is expected to be informed whether this leads to a restart in the course of next week.

The road to the south is open – Volkskrant

The road to the south is open – Volkskrant

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Large banks against reform plans EU – Belegger.nl

Large banks against reform plans EU – Belegger.nl

LONDON (Reuters) – Major European banks want the European Commission to abandon its plans to reform the banking sector, especially since that would be detrimental to the capital markets. That reported Financial Times.

The British and French banking associations establish a joint letter to the committee that the plans again to be held against the light. The committee met in January with proposals out on the approach to the banking sector, including a ban on large banks to

trade for their own account and more powers for regulators. These interventions should prevent taxpayers pay for problems at banks.

The banking associations find the plans of Brussels, however, “old-fashioned”. They think that transactions in the capital markets through the action may be more expensive, which would be detrimental to the financing of European companies.

Dutch company must protect against water underground New York – Parool.nl

Dutch company must protect against water underground New York – Parool.nl

23-11-14 23:08 pm – Source: Reuters

A flooded subway station in New York © photonews

The Dutch construction company Arcadis to protect the New York subway flood. The company has been commissioned to design a system to prevent low metro stations will be flooded. The contract is EUR 26 million.

That the company announced today after a report by Yahoo! News. The order was issued by the Metropolitan Transportation Authority, the service which handles public transportation in New York. It

is not known how many subway stations in the Big Apple at risk of flooding. It is also not known when construction begins and should be ready.

It is the first time that Arcadis is instructed to protect against flooding subway lines, said a spokesman. He could not say how many people will work on the project.

New York in 2012, severely affected by Hurricane Sandy. Who founded billions damage. The metropolis is working on a new dam, while looking askance to the Netherlands.

(Edited by editors)

Reorganization at Strukton Rail – Transport Online

Reorganization at Strukton Rail – Transport Online

AMSTERDAM – Construction Strukton will reorganize again. The part Strukton Rail, which is engaged in the construction and maintenance of railways, the organization will adjust in response to the situation on the railway market in the Netherlands. This has a spokesman confirmed Saturday.

The company eliminates jobs, but

how much will the spokesman did not say. In a few weeks there will be more clarity on the reorganization and the number of disappearing jobs. The company says the unions have already agreed on a social plan. (AP)

“Child care in severe financial problems” – Focus on News

"Child care in severe financial problems" – Focus on News

Amsterdam

The Dutch child has a hard time. The number of children in the nursery since 2011 has declined by 100,000 and the financial position of the institutions is poor. This writes the Financieele Dagblad on the basis of a report by Trade Association Child Netherlands, on Monday published.

The industry has partly due to budget cuts by the central government the childcare benefits, on the other hand they have to deal with rising unemployment among parents with young children. Marielle Rompa, the president of the association said in the Financieele Dagblad: “We are at the end of our ability to cope with the

downturn.”

Last year, a record number of 98 institutions went bankrupt, including leader Estro Group. For years, child care institutions could grow by support from the government, but the subsidies are cut off. In recent years childcare organizations have shrinkage still captured by eating into equity. But the space to hold it any longer is full by now disappeared, says the association.

“There is little to no room for investments to expand capacity as demand picks up child again.” Funding from equity is almost impossible, debt financing no longer accessible, the report said.

Volkswagen really wants to be the greatest and invests 85.6 billion – z24

Volkswagen really wants to be the greatest and invests 85.6 billion – z24

The German car group Volkswagen invests the next five years 85.6 billion for its ambition to become the world’s largest car company to achieve

.

That made Volkswagen announced on Friday.

The money will be used for the development of new models and technology and improve production and expand. Volkswagen is expected this year for the first time to sell more than ten million cars, four years earlier than was originally intended. The group from Wolfsburg has set itself the goal

in 2018 is the world’s largest car company, Toyota and General Motors. Volkswagen may already occupy the top spot this year, though some experts.

Volkswagen, the parent company include Skoda, Seat and Audi brings the future more than a hundred new models or new versions of existing models the market.

The new investment program of the biggest car company in Europe Friday was approved by the Supervisory Board. ,, We continue to invest in the future in order to the leading car company are both economically and ecologically, “said Chairman Martin Winterkorn Volkswagen. Under his leadership, the group took the luxury brand Porsche, truck brands MAN and Scania and motorcycle maker Ducati

Also read

The largest in the world. So fighting Volkswagen, Toyota and GM for hegemony

Poultry fears disaster year after new outbreaks – Wedding

Poultry fears disaster year after new outbreaks – Wedding

editorial internet – 11/21/14, 15:11 – Source: Reuters

© anp. is bird flu at a poultry farm with 10,000 animals in the Overijssel Kamperveen broken. It is the third outbreak of the disease in the Netherlands.

Poultry farmers are holding their breath today after two and possibly three new cases of bird flu have been detected in Kamperveen, a completely different part of the Netherlands than the first two. The damage to the poultry according to the Dutch Union of Poultry Farmers (NVP) had risen to 100 million euros, mainly due to loss of export markets.

• If the bird flu from spreading to the Veluwe is incalculable damage. That is the heart of poultry into the Netherlands.

  Gert-Jan Oplaat, chairman of the Dutch Union of Poultry Farmers (NVP).

The chicken farmers had to fear a similar disaster in 2003, when due to the bird flu as cleared. about one third of the total poultry population in the Netherlands The direct damage was then certainly 300 million.

Today there were three companies which definitely or possibly avian influenza epidemic, when in Kamperveen in the north of Overijssel, near Zwolle. At one company, the disease is diagnosed in a second it is likely to avian and nearer third company is preventively culled. It is not yet clear which version it is, which is probably clear later today.

On a farm in the South Holland Ter Aar is started this morning with the gasification of 43,000 chickens. Here it is the H5N8 variant, where people in direct and close contact with infected poultry participate infected. They usually experience mild flu symptoms.

Last Saturday, the first case of bird flu was found on a farm with 150,000 hens in the Utrecht

Hekendorp. Also there was about H5N8, and the same variant in recent times was also found in Germany and Britain.

“If the bird flu from spreading to the Veluwe is incalculable damage. That’s the heart of poultry into the Netherlands, “says Gert-Jan Oplaat, chairman of the Dutch Union of Poultry Farmers (NVP).

The Veluwe is between Kamperveen and the previously infected farms in Utrecht and South Holland. Much of the 2300 poultry farmers in our country is located there. Netherlands has a total of more than 100 million chickens.

“We’re talking at least about 400 to 500 million euros in damage to the sector,” the industry leader. Oplaat estimates the damage so far caused by bird flu at about 100 million.

In the damage estimates, it is mainly about damage caused by the loss of export markets. Exporters can not export poultry meat to countries outside the EU, because closing their borders to chicken meat from countries where bird flu has been detected. Automatically three months That automatism enter into force as soon as a case of bird flu reported to the World Animal Health Organisation.

For the chicken farmers whose barn should be eliminated, there is a special fee. Poultry farmers pay per hen a certain premium to a kind of insurance. The farmers on the need to slaughter claim an amount which they can buy new chickens.

The government believes it would be premature to talk about compensation for poultry affected by bird flu. Attention must first be directed at preventing further spread of the disease, said Deputy Prime Lodewijk Asscher after the Cabinet meeting.

Asscher understands the concerns of the poultry sector. But “for us it is important to take all necessary measures in the interest of agriculture, but also of public health to prevent such a virus can spread.”

EU court sweeps British objections round ceiling bankers bonuses table – Standard

EU court sweeps British objections round ceiling bankers bonuses table – Standard

             The Advocate General of the European Court of Justice has issued an opinion Thursday ruled that the European capping bankers’ bonuses is valid. The advice is bad news for Britain, which combats the European rules for the Court.
         

This year may bonuses for bankers in the European Union is not more than double the amount of their annual salary. So hope to avoid European policy makers that bankers out short-term profit even venture to the excessive risks that led to the credit crisis.

However,

Great Britain fears that rules the appeal of London as a financial center will undermine and went to the European Court of Justice. According to the British Government, the measure no sound basis

in European law and it is for the Member States to any salary ceilings capture. However,

Advocate General Niilo Jääskinen suggested Thursday that the European regulation is valid. ‘The imposition of a fixed relationship between the bonuses and base pay does not limit the total wage bill “so reads in a communication from the Court. He also suggested that the European Union can have a say in matters that relate to the stability of financial institutions operating in different Member States.

The opinion of the Advocate General is just an opinion, but is often it guides the binding judgment that will eventually sheets. That judgment is not expected within a few months.

Ex-boss Icesave enters the cell – Financieel Dagblad (Registration)

Ex-boss Icesave enters the cell – Financieel Dagblad (Registration)

Sigurjon Arnason, the former CEO of the failed Icelandic bank Landsbanki, is by the court sentenced to a sentence of twelve months, of which nine conditional, because prohibited market manipulation in 2008. Lansbanki was the mother of the online savings bank Icesave. Many British and Dutch savers had to be when the company went bankrupt in 2008, offset.

In the months leading up to the demise of Landsbanki would Arnason with some accomplices a secret loan to an investor, provided that these shares Landsbanki would buy. The rate was thus artificially held high and investors were misled.

Victim

Despite the condemnation Arnason continues to maintain his innocence and he says he is the victim of a false representation of affairs. “To my great disappointment is hardly listened to my arguments,” he says to the

Icelandic media. Arnason In 2011 also arrested on suspicion of market manipulation.

The 48-year-old Arnason was trained as an engineer and graduated from the University Reykjavik in 1992 with a degree in mechanical engineering. Then he went to the University of Minnesota where he studied business. In 2003 he was appointed Chairman of Landsbanki.

Icesave

Vanaf Landsbanki in October 2006 began to raise capital on the British and Dutch market using the online savings bank Icesave. “That way we have a permanent solution to our funding,” said Arnason early 2007 on triumphant tone. “We’re no longer dependent on the financial markets, I do at the end of the week just to see how many savings has arrived.