November 27: Iceland latest and what's a thought cafe?
Comments |
SO, where is KCC in its efforts to recoup the
£50million it had tied up in Icelandic banks?
A little has come back -
£3million – and we gather another £2million, give
or take a few pounds – is due about now.
But it seems there may be
something of a wait for the remainder, on the basis of a fairly low
key report about the latest situation by county finance chiefs
which you can read
here.
The prognosis is still pretty
optimistic in terms of recouping the bulk of the cash and the
forecasts of potential losses appear to have fallen a little to
£4million, still a sizeable sum.
KCC anticipates getting back
100 percent of the £15million it had on deposit
with Glitnir; 80 per cent of the £18million from
Heritable (with full recovery by 2011) and about 83 per
cent of the £17million with Landsbanki.
But perhaps inevitably, it seems
some creditors are looking to challenge the status of KCC and other
councils who have "preferential creditors." The report says such
challenges are "widely expected" – meaning delays can also be
widely expected.
Icelandic cash one year on - read our story
here>>>
++++++++++++++++++++++++++++++++++++
The disappointment is palpable,
the sense of letdown tangible.
But some things just have to
fall by the wayside when there is a budget crisis
looming.
So brace yourselves for some
grim news: KCC is having to drop its plans for a public
"web jam" on the grounds of costs.
No, we didn’t know anything
about it either although apparently there was a public consultation
on the idea throughout October.
Which brings me to another
question. What is a "thought café"?
I ask as a county council
document dating back to 2007 excitedly talks about the concept as a
new way of reaching residents.
I’ve not noticed any thought
cafes around my travels but if you come across one, do let me
know.
Friday, November 27 2009
The KM Group does not moderate comments.
Please click here for our house rules.