info.LandsbankiAction.org.gg   30-Mar-2016: Liquidators' Update, see Deloitte site

To get hit with a blow like this

Having come to Europe from South Africa with two suitcases and Sfr 2500.00 and no job waiting for us, just a mere six years on through many a tear and toil my husband and I have both managed to educate ourselves here in Switzerland, learn German and pushed ourselves into the workforce, both currently having full time jobs.

It has been a hard but rewarding six years. During this time, we vowed to each other that even on the meagre earnings we started off with, we would save. And so we have done over this time, to the extent that even now we live very "simply" as some of our friends have commented.

In February 2008, we eventually thought that we should do something with our savings, as we were not earning any interest in our current account, and so we decided that we would deposit our savings in a fixed deposit for one year with the Landsbanki Guernsey and then review after one year. You can imagine what panic and distress we felt, when we heard that Landsbanki went into administration on 6 October 2008.

Unfortunately, the assumption about people who have money "offshore" is that they are stinkingly wealthy, however, that is not true in our case and possibly many others. We have tried to be modest in our monthly spendings often going without and no making debt, just for the sake of putting aside a nest egg for our children one day. We do not even possess a car, unthinkable to most South Africans!

I find this whole situation absolutely distressing. When one tries to live a life of living within your means and trying not to live up to the Jones', you get hit with a blow like this.