Iceland Guarantees Deposits
Published / Last Updated on 05/10/2008
Iceland Guarantees Deposits
Iceland announced today that it will guarantee all private Icelandic Bank Accounts following fears of large scale cash withdrawals and switches to other countries that are guaranteeing deposits.
This announcement by the Icelandic authorities follows meetings yesterday by Icelandic officials as well as announcements by Germany yesterday and Ireland a few days ago to do the same and the UK announcing that with effect Tuesday (tomorrow), the UK will guarantee private deposits up to £50,000.
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