{"id":40221,"date":"2014-01-23T07:40:43","date_gmt":"2014-01-23T12:40:43","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=40221"},"modified":"2014-01-24T13:20:42","modified_gmt":"2014-01-24T18:20:42","slug":"iceland-prime-minister-not-interested-in-hedge-fund-losses","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2014\/iceland-prime-minister-not-interested-in-hedge-fund-losses.html","title":{"rendered":"Iceland Prime Minister Not Interested In Hedge Fund Losses"},"content":{"rendered":"<p><span style=\"font-size: 16px;\"><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/images-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-40222\" alt=\"images (2)\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/images-2.jpg\" width=\"299\" height=\"169\" \/><\/a><br \/>\nNew York (HedgeCo.Net) &#8211; The government in Iceland is still refusing to speak to the hedge funds and other creditors that are trying to get their claims paid out. Bloomberg reports. <\/span><\/p>\n<p>Kaupthing Bank, Glitnir Bank and Landsbanki Islands defaulted on $85 billion over 5 years ago. The government says solving the problem is not even on its agenda.<\/p>\n<p>\u201cBecause these actors have such huge funds in the agreement, or will have, if such an agreement is reached, it will affect whether or not, and when, we can lift the capital controls,\u201d Prime Minister Sigmundur D. Gunnlaugsson said yesterday in an interview in Reykjavik. \u201cIt\u2019s in everyone\u2019s interest to create a situation which would allow for the lifting of controls.\u201d<\/p>\n<p>&#8220;A number of the creditors waiting to get their money back are hedge funds that had bet on a faster resolution of Iceland\u2019s banks. Firms including Davidson Kempner Capital Management LLC and Taconic Capital Advisors LP bought claims on the lenders\u2019 assets at prices well below face value.&#8221; Bloomberg reports.<\/p>\n<p>\u201cIt seems they\u2019ve been waiting to see whether the government would somehow step into the process,\u201d Gunnlaugsson said. \u201cBut this is not a project for the government. The only role of the government here is to assess whether they come up with a solution which allows for the lifting of the controls.\u201d<\/p>\n<p>The creditors in question \u201care just private entities trying to reach an agreement regarding a private debt,\u201d he said. \u201cSo the state &#8212; the government &#8212; has nothing to do with that. We\u2019re not in talks with those creditors and we won\u2019t be. Never were going to be.\u201d<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The government in Iceland is still refusing to speak to the hedge funds and other creditors that are trying to get their claims paid out. Bloomberg reports. Kaupthing Bank, Glitnir Bank and Landsbanki Islands defaulted on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,16044,3],"tags":[],"class_list":["post-40221","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-regulation","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=40221"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40221\/revisions"}],"predecessor-version":[{"id":40238,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40221\/revisions\/40238"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=40221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=40221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=40221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}