Iceland Thaws Out
Published / Last Updated on 21/10/2008
Iceland Thaws Out
Relations between the UK and Iceland appear to be ‘thawing out’ as it seems likely that the UK will ‘lend’ Iceland £3bn to protect UK investors who placed money in the failed Landsbanki.
Not since the ‘cod wars’ of the 1970’s has relations been so poor. Initially Britain froze Icelandic assets in the UK when it appeared that the Icelandic government would not be honouring investments made by British investors in its banks, as required by European law.
Compromise now looks possible and we welcome it. However, it appears to be all client on the problem of Kaupthing in the Isle of Man where only the Isle of Man compensation fund appears to be protecting investors there.
Useful links:
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
Useful links:
