Kaupthing - Crisis: German direct investors desperately to the Petitions Committee of the Bundestag
Submitted by dockland on Sat, 2008-10-11 09:04.Sufferers of Kaupthing crisis in Germany feel of your government alone. While the governments of other affected EU states, including taking including Sweden, Netherlands and England, all possible measures (loans, confiscation of the owner of the bank, etc.) for their citizens concerned is silent, the German government.
Even on repeated request from the Federal Chancellery, the Federal Ministry of Finance and the BaFin, no information could be obtained. It had only stated that no further actions are planned in order to safeguard the interests of those affected in Germany.
However, this is for those affected more than satisfactory, so that they organize themselves on the Internet and is already used to the Petitions Committee of the Bundestag. We took the following text, was sent to the Petitions Committee of the Bundestag, the forum of stakeholders http://kaupthingedge.foren-city.de/:
"Ladies and gentlemen,
I, and I certainly because I speak on behalf of all affected by Kaupthing crisis in Germany (we have organized ourselves in the following forum http://kaupthingedge.foren-city.de/ ), would like to now turn to you, our elected representatives.
I belong (we) to the Kaupthing investors who were hit on Thursday (08.10.2008) by the freezing of our accounts on the part of that bank. We are an access to our savings in any way possible. BaFin responded with the establishment of a moratorium.
relates to the collapse of that bank citizens of many countries of the EU has operated in the said bank branch. Especially in Sweden, the Netherlands and England have used the local governments of the affected markedly by you people and carried out measures of protection and exercise of citizens' interests.
I (we) am very surprised that I (we) can not see any reaction from the German government and politics. This clearly takes particular surprise in light of the recently announced by the Chancellor efforts to protect investors in Germany. She said that the deposits of the Germans were safe.
is the case of Kaupthing Edge Bank is a branch of an Icelandic bank, therefore, not the German, but probably belongs to the Icelandic deposit insurance fund. But this fact alone justified but not that can be recognized not have aspirations of help from the German policy. I (we) can not understand it, why should the public by the federal government made commitments to help all depositors are made only to investors with German banks, although we are German citizens who have money invested with an approved bank in Germany .
The said bank has the approval criteria Bafin (particularly establishment of a Deposit Protection Fund under the EEA rules) appear to be met. Only somehow currently a legal vacuum state is reached. I would like to quote the commercially Journal article published today:
"In the crisis over the Icelandic Kaupthing Bank, there is still uncertainty about the full warranty of 30 000 German Kaupthing customers. The German financial Bafin had originally been drawn from the fact that deposits in the amount of at least 20 877 euros in the framework of so-called "Deposit Guarantee Scheme of the European Union are covered. Thursday evening, the Icelandic prime minister said, however, that only local - Ie Icelandic savings - by the Icelandic deposit protection are guaranteed "
I call on you from above, to look into the matter and to represent the interests of the German savers across borders.. Why is it not possible in Germany, pursued an alternative measure such as the Swedish government has already carried out. This has earmarked Iceland a loan of EUR 500 million granted for the repayment of deposits in Kaupthing in Sweden. Appears from the BaFin in Germany and interested estimated total of 300 million EUR to me especially in the light of the recently Hypo Real Estate EUR 50 billion estimated to be very low. In any case, I expect at least an awareness of the legal situation in a way that clearly clarifies to whom we have contact us in case of insolvency.
I think it is a summary of almost incredible that the German government / politics in this economically difficult situation, no responsibilites and to recognize the full-bodied announced promise nothing. Nothing was mentioned several times points (BaFin, Federal Ministry of Finance and the Federal Chancellery) competently advise me or give me a competent body, so I have a feeling that nobody cares about the matter put forward.
I therefore ask you connected with personal and urgent need for help and the assumption of responsibility. Please inform me as to whether and what is being done on your part. "
After seeing the current state, neither the Icelandic nor the German deposit insurance to be competent. In addition, we defend the data subjects and the representation as greed necks in the media. And This in our view quite rightly, because they bought any risky equities, certificates, warrants or hedge funds, but their money invested in to date, safe days money or time deposit accounts. deposits to 20,000 euros, was stressed again and again, had this to 100 % secure.
addition brings Affected out: "In times of almost exploding cost of living (without a corresponding adjustment of wages and salaries) it is legitimate to take a safe but profitable investment opportunity yet to deliver."
What happens next remains to be seen.
