Rallying call to save Royal British Legion clubs
- Today's leader
Iceland to compensate UK savers
Sunday 7th June 2009, 11:56AM BST.
Iceland has agreed to begin repaying British savers after the UK government had to intervene in the wake of the failure of the Scandinavian state’s banking system.
The UK government used anti-terror legislation to freeze funds held by the country’s banks and then loaned Iceland £2.3 billion in order to prevent depositors from losing money.
Iceland has now agreed to repay the amount with interest to the Treasury.
Commenting on the deal, a spokesman for the Treasury said: “This is good news for UK taxpayers and good news for Iceland.
“The government welcomes Iceland’s commitment to recognise its obligations under the EC Deposit Guarantee Scheme to repay depositors in Icesave,” he added.
About 300,000 Britons held accounts with Landsbanki, which collapsed in October last year. The bank’s Icesave brand attracted many depositors with its high interest rates.
Sponsored Links
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
Entertainment
All the film reviews
Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
