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10/10/2008
Brown Threatens Legal Action As Icelandic Banks Collapse
Britain and Iceland are in a diplomatic spat over the collapse of Reykjavik's banking system.
UK local authorities could face a loss of more than £1 billion invested in Icelandic banks which have collapsed.
Mr Brown has threatened legal action to recover the lost deposits of people who hold accounts with IceSave.
"What happened in Iceland is completely unacceptable," he told the BBC on Thursday. "I've been in touch with the Icelandic prime minister, I've said that this is effectively illegal action that they've taken."
He added: "We will take further action against the Icelandic authorities wherever that is necessary to recover the money."
Kent County Council - has £50 million deposited in troubled Landsbanki and its UK subsidiary Heritable, as well as Glitnir Bank.
Dozens more, as well as Transport for London and the Metropolitan Police Authority, have assets in the banks, estimated by the Tories to be worth in excess of £1 billion.
Prime Minister of Iceland Geir H. Haarde said: "What we have learnt from this whole exercise is that it is not wise for a small country to try to take a leading role in international banking.
"The government of Iceland is determined not to let the current financial crisis overshadow the long standing friendship between Iceland and the United Kingdom."
(CD/JM)
UK local authorities could face a loss of more than £1 billion invested in Icelandic banks which have collapsed.
Mr Brown has threatened legal action to recover the lost deposits of people who hold accounts with IceSave.
"What happened in Iceland is completely unacceptable," he told the BBC on Thursday. "I've been in touch with the Icelandic prime minister, I've said that this is effectively illegal action that they've taken."
He added: "We will take further action against the Icelandic authorities wherever that is necessary to recover the money."
Kent County Council - has £50 million deposited in troubled Landsbanki and its UK subsidiary Heritable, as well as Glitnir Bank.
Dozens more, as well as Transport for London and the Metropolitan Police Authority, have assets in the banks, estimated by the Tories to be worth in excess of £1 billion.
Prime Minister of Iceland Geir H. Haarde said: "What we have learnt from this whole exercise is that it is not wise for a small country to try to take a leading role in international banking.
"The government of Iceland is determined not to let the current financial crisis overshadow the long standing friendship between Iceland and the United Kingdom."
(CD/JM)
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21 August 2003
RSPCA urge boycott of Icelandic fish after whale kill
The RSCPA has urged UK shoppers to "think twice" about buying Icelandic fish after the country's whaling expedition killed a number of Minke whales. The RSPCA has condemned Iceland's resumption of whaling which, they claim, is being carried out using exploding grenade harpoons "responsible for the agonizing deaths of whales around the world".
RSPCA urge boycott of Icelandic fish after whale kill
The RSCPA has urged UK shoppers to "think twice" about buying Icelandic fish after the country's whaling expedition killed a number of Minke whales. The RSPCA has condemned Iceland's resumption of whaling which, they claim, is being carried out using exploding grenade harpoons "responsible for the agonizing deaths of whales around the world".
05 March 2009
Help For Local Authorities With Cash In Icelandic Banks
The Government has acted to protect the public from potential service cuts or council tax increases that could result from local authority investments in Icelandic banks while efforts continue to recover lost investment funds.
Help For Local Authorities With Cash In Icelandic Banks
The Government has acted to protect the public from potential service cuts or council tax increases that could result from local authority investments in Icelandic banks while efforts continue to recover lost investment funds.
09 October 2008
Councils Call For Icelandic Banks Guarantees
Council leaders are seeking an urgent meeting with the Chancellor this afternoon to discuss the potential repercussions of the collapse of Icelandic banks.
Councils Call For Icelandic Banks Guarantees
Council leaders are seeking an urgent meeting with the Chancellor this afternoon to discuss the potential repercussions of the collapse of Icelandic banks.
22 October 2008
Barnsley And Yorkshire Building Societies To Merge
Barnsley Building Society is to merge with its larger rival Yorkshire Building Society after facing the prospect of losing millions of pounds from the collapse of the Icelandic banks.
Barnsley And Yorkshire Building Societies To Merge
Barnsley Building Society is to merge with its larger rival Yorkshire Building Society after facing the prospect of losing millions of pounds from the collapse of the Icelandic banks.
06 August 2003
Iceland to restart whaling for 'scientific research'
Iceland has announced that it is to restart whaling – after a 14-year hiatus – so as to carry out "further scientific research" on the mammals, the country's Fisheries Ministry has announced.
Iceland to restart whaling for 'scientific research'
Iceland has announced that it is to restart whaling – after a 14-year hiatus – so as to carry out "further scientific research" on the mammals, the country's Fisheries Ministry has announced.
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