Bjorn Levi Gunnarsson, Member of Parliament for Pirata, is amazed at how the sale of Islandsbanki was handled.
Bjorn Levi was a guest on the radio show Harmageddon this morning and the sale of Islandsbanki was discussed. The MP said that it was a part of the century, but for those who bought at the price that was available.
“But not for the one who sold, which is the state, the common property of us all. Just on these numbers, just on these numbers, misses over ten billion that we become together and then goes to those who bought. A very good decision from them, I do not complain about that but I do complain about the decision of the Minister of Finance to sell at this price. ”
Islandsbanki’s equity exceeds ISK 20 billion in excess of the Central Bank’s requirement
It is clear that many people are wondering how this sale went and how it went. VÃsir reported on the calculations of Gunnar Smári Egilsson of the Socialist Party, but he believes in the unmasked transfer of common property to the rich.
Bjorn Levi said that this had been known, that many had been warned about it, right at the beginning of the year this had been predicted, and more.
“The bank has equity, which it has on hand in addition to debts and assets, which it has to run if it is hit. This is an obligation that the Central Bank imposes on the banks following the collapse. Precautions. Islandsbanki has even more equity than the Central Bank requires. Almost twenty billion more than the Central Bank’s demand. ”
Bjorn Levi said that this had come in very handy in the comments of ISFI. “If the price were around eighty percent of equity, 0.8 coefficient, it would be possible to pay dividends on this in excess of equity. This is free money that is there extra. Owners can go straight into this without compromising the Central Bank’s requirements. ”
Billions were literally given to buyers
Bjorn Levi says that this can be compared to a house property for sale for 50 million and that is included in the purchase, without it having anything to do with the price, but everyone knows that in the garage there is a safe that you get a key to when you buy the apartment where there are 10 million that you can just put in your pocket.
“One-quarter of the bank was sold. The portion of equity allocated to new owners. As far as I know, this extra payment was not paid for the purchase, which is equivalent to allocating four or five billion to those who were buying. Then there is the price difference in stock prices, which rose after the open. ”
Asked whether it was not a valid argument that the Minister of Finance, Bjarni Benediktsson, has put forward that it was worth allowing the bank to enter the market vigorously, Bjorn Levi says that this is not the case.
“No, he has to take care of the common property of all of us and when the demand is so enormous, it should be a message that something has not been set exactly right in the advice that the Ministry of Finance received. And that advice was bought for 1.4 billion ISK. ”
Bjorn Levi says that the Minister of Finance has been able to step on the brakes at all stages of the case until payment has been made. That was the message we received about how the mandate process worked. Braking options almost anytime but Bjarni followed the predatory advice.
