The fallout from the collapse of Iceland’s banking system has reached the highest levels of Belgian politics. Prime Minister Yves Leterme himself heard complaints from savers at Iceland’s collapsed Kaupthing Bank. They want government action to save their frozen accounts.
“I had saved some money that I was going to use to buy a house, and the very next day I found the account blocked. No access, no information,” said Kaupthing account holder Frederic Lorie.
Lorie is just one of thousands of Belgians who can no longer get at their money.He is leading the campaign to get that money back.
The collapse of Iceland’s banking system sent shockwaves far beyond its shores. The problems of Belgian savers were echoed in Britain and the Netherlands, but those governments stepped in with guarentees. Belgium’s small savers are still in the dark, wondering if they will benefit from similar government action, and if they will ever see their money again.