UK ignored Iceland bank warning in JULY now feigns outrage

http://news.bbc.co.uk/1/hi/uk_politics/7663596.stm


The government has been accused of "complacency" after it apparently ignored warnings in July about Icelandic banks facing collapse.

Lib Dem peer Lord Oakeshott and Tory MP Michael Fallon both raised the issue with ministers on separate occasions.

They were reassured savers would be protected by law.

The Treasury said it was not the government's role to advise savers and ministers had stressed Iceland had a legal obligation to pay compensation.

Lord Oakeshott said: "Alarm bells were ringing all over about the Icelandic banks and the Treasury must have been blind and deaf not to hear them."

But a Treasury spokesman said: "As the minister made clear at the time, the Icelandic authorities have a legal obligation to pay out depositors under their existing compensation scheme and we expect them to honour this commitment."

He said a government delegation was now in Iceland to find a solution to the current situation.

"This is part of the action the Treasury is taking action to ensure the interests of all retail depositors are safeguarded and that legal obligations to UK creditors are honoured."

Prime Minister Gordon Brown reacted with anger on Thursday after the Icelandic government refused to guarantee the deposits of UK citizens with money in three of its biggest banks, following their collapse.

Category:

Education

Tags:

• credit
• cruch
• stock
• crash
• market
• nationalisation
• crisis
• banks
• bankers
• iceland
• collapse
• guarantee
• gordon
• brown
• uk
• Geir
• Haarde

[Kindineinar]

I'm just gonna say it here and i dont giva shit if anyone hates me for it, Gordon Brow is one of the biggest jerks i know abot i hate him so mch for doing this to us in iceland. I dont give a rats as if he burns in hell for all i care. And now Denmark hates iceland to so u happy now Gordon Shitface, Burn in hell!!!

[scarff94]

no one likes him here in the UK anyway, we never elected him and the british government is corrupt organistation.

i feel for the icelandic people.

[konnii1]

fuck gordan brown

[captaincabbage]

the Irish banking system is based entirely on a system of pints,

learn people:

if mick hangs a set of shelves up for you or fixes the car he'll buy you four pints on thursday in the pub

life goes on,,just be ready to fight as we are

[trex250]

Why would you care if Denmark hates you? Most of Europe hates Denmark!