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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...

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UK 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...

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Iceland’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...

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BoE 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...

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Iceland 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...

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Guernsey 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...

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Iceland 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...

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Iceland 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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