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| Version 0 | Version 1 |
|---|---|
| Brown: Iceland's actions illegal | Brown: Iceland's actions illegal |
| (30 minutes later) | |
| Prime Minister Gordon Brown has condemned Iceland's handling of the collapse of its banks and its failure to guarantee British savers' deposits. | Prime Minister Gordon Brown has condemned Iceland's handling of the collapse of its banks and its failure to guarantee British savers' deposits. |
| Mr Brown said it was "effectively illegal" and "completely unacceptable". | Mr Brown said it was "effectively illegal" and "completely unacceptable". |
| He said Iceland's regulators had failed "not only the people of Iceland, they have failed people in Britain". | He said Iceland's regulators had failed "not only the people of Iceland, they have failed people in Britain". |
| Iceland's prime minister Geir Haarde said it was "not pleasant" to learn that anti-terror laws were used to freeze Iceland firms' assets in the UK. | |
| The government has taken action to protect the savings of individual Britons through the Financial Services Compensation scheme - but almost 100 councils have more than £720m in total invested in Iceland's banks that has not been guaranteed. | The government has taken action to protect the savings of individual Britons through the Financial Services Compensation scheme - but almost 100 councils have more than £720m in total invested in Iceland's banks that has not been guaranteed. |
| Assets frozen | Assets frozen |
| In an interview with BBC political editor Nick Robinson, Mr Brown was asked what could be done to stop councils losing millions. | In an interview with BBC political editor Nick Robinson, Mr Brown was asked what could be done to stop councils losing millions. |
| He said the government was talking with local authorities about what could be done and intended to recover as much money as possible. | He said the government was talking with local authorities about what could be done and intended to recover as much money as possible. |
| But he added: "What happened in Iceland is completely unacceptable. I've been in touch with the Icelandic prime minister. I said this is effectively illegal action that they have taken. | But he added: "What happened in Iceland is completely unacceptable. I've been in touch with the Icelandic prime minister. I said this is effectively illegal action that they have taken. |
| I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us Geir Haarde on whether relations were in 'crisis' Councils 'not reckless with cash' | I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us Geir Haarde on whether relations were in 'crisis' Councils 'not reckless with cash' |
| "We are freezing the assets of Icelandic companies in the United Kingdom where we can. We will take further action against the Icelandic authorities wherever that is necessary to recover money." | "We are freezing the assets of Icelandic companies in the United Kingdom where we can. We will take further action against the Icelandic authorities wherever that is necessary to recover money." |
| He added: "This is fundamentally a problem with Icelandic-registered financial services authority - they have failed not only the people of Iceland; they have failed people in Britain." | He added: "This is fundamentally a problem with Icelandic-registered financial services authority - they have failed not only the people of Iceland; they have failed people in Britain." |
| Britain has frozen the UK assets of Icelandic bank Landsbanki and the government has said local authorities will benefit from that. | Britain has frozen the UK assets of Icelandic bank Landsbanki and the government has said local authorities will benefit from that. |
| Earlier the Icelandic prime minister, Geir Haarde, was asked if he felt there was a crisis in relations between Britain and Iceland. | Earlier the Icelandic prime minister, Geir Haarde, was asked if he felt there was a crisis in relations between Britain and Iceland. |
| He replied: "I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us. | He replied: "I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us. |
| "That was not very pleasant. I'm afraid that not many governments would have taken that very kindly, to be put in that category and I told the chancellor that we were not pleased with that." | "That was not very pleasant. I'm afraid that not many governments would have taken that very kindly, to be put in that category and I told the chancellor that we were not pleased with that." |
| But he said he had cleared up a number of issues with UK Chancellor Alistair Darling. | But he said he had cleared up a number of issues with UK Chancellor Alistair Darling. |