Dutch Central Banker: Icelanders Lied about Icesave Skip to content

Dutch Central Banker: Icelanders Lied about Icesave

Arnold Schilder, former head of the inner supervision of the Dutch Central Bank said Icelandic authorities* had lied about the situation of Landsbanki’s Icesave savings scheme up until the banking collapse of October 2008 during a parliamentary inquest into the global credit crisis in the Netherlands yesterday.

“I have to say that our Icelandic colleagues were not telling us the truth. We often asked them straight out how it was going and they always answered with Hallelujah stories, that nothing was wrong. Not even in August and September 2008,” Schilder told the parliamentary committee, RÚV reports.

Schilder said Nout Wellink, the president of the Central Bank of the Netherlands, had also received similar answers.

Wellink was also called before the parliamentary committee yesterday to discuss other aspects of the crisis. On Thursday he will answer the committee’s questions about Icesave. That day, Dutch Minister of Finance Wouter Bos will also be called before the committee.

Click here to read more about Icesave.

*Originally this story stated that Schilder specifically mentioned the Central Bank of Iceland. However, as Stefán Jóhann Stefánsson, editor of the Governor’s Office at the Central Bank of Iceland, pointed out, this is a misunderstanding which both the Icelandic and foreign media have now corrected. Schilder never mentioned the Central Bank, although he did refer to his colleagues in Iceland.

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