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Author: gman87123
Keywords: Antioxidants Phytonutrients Amino acids VitaminsThe Brazilian açai berry rich Amazon centuries MonaVie crown jewel medic
Added: October 10, 2008

UK ignored Iceland bank warning in JULY then feigns outrage

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

Author: jinkyfc
Keywords: credit cruch stock crash market nationalisation banks bankers iceland collapse guarantee grodon brown uk Geir Haarde
Added: October 10, 2008