Dear Mr. Brown,
(cc: The international press)
Here in Iceland, we are busy dealing with a series of mistakes in government, regulation and banking operations.
As a result of a total collapse of our banking system, customers in the UK have feared for their deposits in Icelandic banks, just like every single Icelander has. In accordance with international law, the Icelandic government has relatively clearly stated that it will guarantee the minimums required for private citizens. (They’re not always good with words – sorry about that…)
Municipalities and organizations – that are by law considered “professional investors” – may unfortunately have lost significant amounts. Up to 1% of their assets in some cases as I’ve understood. It may come as a surprise to you, but professional investors all over the world are losing gigantic amounts these days. Even 10s of % per day in some cases. Iceland is not to blame for that.
I know that it’s considered good domestic politics to find a common enemy in the time of crisis. It can hide facts about one’s own failing policies and create a team spirit at home, rallying against the new foe. Seems like your little scheme worked.
Up here is an entire nation – where most of us citizens are at a real risk of losing pretty much everything we own – we’re trying to put up a fight. If you can help even just a tiny bit by clearing up your deliberate misunderstanding – great. If you can’t, please stop bullying us, find someone of your own size to pick on and leave us alone while we try to rebuild our society more or less from scratch.