Icesave savers may have to claim compensation
British savers of internet bank Icesave, an arm of Landsbanki, have been warned that they may struggle to claim their money. Earlier today, the Icelandic Financial Supervisory Authority announced that...
View ArticleUK Icesave savers will get their money back
Yesterday, it was warned that British savers of internet bank Icesave, an arm of Landsbanki, may struggle to claim their money. Earlier this week, the Icelandic Financial Supervisory Authority...
View ArticleIceland’s woes continue with Government seizure of Kaupthing
Kaupthing, Iceland’s largest bank, is the latest to be hit by the financial market turmoil after it has been seized by the country’s Government. The country’s Financial Supervisory Authority said the...
View ArticleBoE to loan £100m to Landsbanki
Talks between the UK and Iceland look like they have reached a satisfactory conclusion after the Bank of England (BoE) has agreed to provide a short-term secured loan of up to £100 million to the UK...
View ArticleIceland hikes interest rates from 12% to 18%
Iceland’s central bank has raised its key interest rate a whopping 6% just two weeks after it cut rates from 15.5%. According to the Central Bank’s governor, David Oddsson, the rise is intended to be...
View ArticleGuernsey savers fail to benefit in Government’s Landsbanki rescue package
Icelandic bank, Landsbanki, collapsed earlier this month as a result of the global credit crunch, resulting in thousands of savers unsure whether they would get their money back. It was announced over...
View ArticleIceland announces €1.5bn plan to recapitalise banks
Iceland has unveiled a €1.5 billion (£1.3 billion) scheme to recapitalise its three major banks. The Government will issue bonds to the three new banks it is creating from the collapsed ones. It is...
View ArticleIceland president vetoes repayment to UK
Icelandic President, Olafur Ragnar Grimsson, has vetoed the repayment of a £2.3 billion loan to the UK Government. The debt relates to the collapse of Landsbanki which collapsed at the height of the...
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