Although Iceland asked Russia for a €4 billion loan earlier this week, the country's Financial Supervisory Authority declared that all savings at Kaupting were fully guarenteed. More trouble for the Icelanders as Prime Minister Gorden Brown announced that the UK will freeze the assets of Icelandic companies following the current crisis. With Iceland's three largest banks now under the control of the Government, the question now rises as to how safe the domestic deposits at these banks really are.
Pieter Leyman
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This week, Iceland's Government took control of the country's largest bank, Kaupthing.
Although Iceland asked Russia for a €4 billion loan earlier this week, the country's Financial Supervisory Authority declared that all savings at Kaupting were fully guarenteed. More trouble for the Icelanders as Prime Minister Gorden Brown announced that the UK will freeze the assets of Icelandic companies following the current crisis. With Iceland's three largest banks now under the control of the Government, the question now rises as to how safe the domestic deposits at these banks really are.
Good flow, good style
olaf
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