Brilliant news for homeowners

Einar K. Gudfinnsson, Minister of Fisheries and Agriculture

Einar K. Gudfinnsson, Minister of Fisheries and Agriculture

The Minister of Fishing and Agriculture has stated that it is totally acceptable that some currency deals of the fishing industry will be recalculated to the point where the krona was in the summer before the crash.

He says that circumstances have changed since the currency loans were taken. It is not sure whether the companies in the industry can handle the current amounts owed.

Arni Johnsen, member of parliament has asked for the industry’s debts to be canceled. The companies had been “tricked” by the banks into buying stocks etc. during the good times and they should not suffer the consequences.

Asides from the fact that it would be very interesting to find out how the fishing industry has supported Arni Johnsen by buying the “artwork” he made while in prison for embezzlement, these are pretty good news.

This indicates the willingness of the government and parliament to reset all of our debts. Because the situation has not only changed for the fishing companies but for businesses in all sectors as Jon Steindor Valdimarsson of the Industry Association has pointed out.

And the situation of my price-indexed home loan has changed drastically with inflation. I assume that if the Minister of Fishing and Agriculture gets his way, then there should be nothing to stop the Minister of Social Affairs to do the same for home owners in Iceland.

And that is brilliant news.

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