Daclec Tiðændjar - 2017

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The director of FSIB resigns

November, 2017 - Immediately after the FICT General Assembly in Port Amargo last Sunday, November 19, the director of FICT Social Investment Bank (FSIB), Luc Pálssœn, sent a letter of resignation to FICT Secretary General, Ms Shonshuu. His presentation to the assembly about the situation of the bank caused a lot of protests stating that the bank had deviated from its original purpose. The discussion culminated with the approval of an investigation of FSIB and of Mr Pálssœn himself. “We considered this investigation an absurd”, PM Blœmagarð said to the press. “Mr Pálssœn always conducted FSIB strictly according to the direction and purposes given by FICT and has a public life above any suspicion.”

The resigned director – and former Prime Minister (2009-2012) – declared to the press that “the loans, at very low interest rates, were to be authorised exclusively for social investments, not for other purposes such as covering public deficits, paying debts or political campaigns. No social projects were submitted to FSIB since I had assumed as director last year. So, our policy has been to invest the money in international banks to make it grow and be more beneficial for the member states, especially after the significant reduction in the revenues, when the rules of contribution to FSIB – at that time called FESD – changed in 2014.”

Helga Blœmagarð stated that “FICT should review its policies and priorities for the institutes instead of accusing the conduct of a man with a vast reputation and good services in his public life”. During the General Assembly, Yukland voted against all the investigations proposed.

Blœmagarð is the new premier

February, 2017 - After having the number of seats in the Ðiggshus reduced from 17 to 9 in the last parliamentary election, The Social-Democrat Party (LHD) had to include the Workers Party (VH) in the coalition LHD-LH to obtain absolute majority of votes and form the new government. Nevertheless, Helga Blœmagarð of the Socialist Party (LH) was chosen as prime minister in the place of Rœslin Óstfjœrd, putting end to 26 years of LHD hegemony.

The feeble electoral result of LHD is attributed to the poor performance of Yuklandic economy last year, figures indicating a GDP growth of only 1.15% and an increase in the unemployment rate from 3.5% to 4.6%. Revert this scenario will be a big challenge for the new government, especially if we consider the pressure of the traditional opposition Parties, ÐH and ÐRH, which together had a growth from 7 to 12 seats.

One of the initial tests for the new government will be the organisation of the next FICT General Assembly in Vítgarð, in May, almost five years after the famous summit where the Ísðor Treaty was proposed.