This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/uk_politics/7662599.stm

The article has changed 12 times. There is an RSS feed of changes available.

Version 0 Version 1
UK delegates in Icelandic talks UK delegates in Icelandic talks
(about 3 hours later)
A delegation of Treasury officials is going to Reykjavik to discuss the Icelandic bank crisis and its effect on UK depositors.A delegation of Treasury officials is going to Reykjavik to discuss the Icelandic bank crisis and its effect on UK depositors.
The meetings follow sharp exchanges of words between Prime Minister Gordon Brown and his Icelandic counterpart Geir Haarde.The meetings follow sharp exchanges of words between Prime Minister Gordon Brown and his Icelandic counterpart Geir Haarde.
Mr Brown condemned Iceland's failure to guarantee British savers' deposits.Mr Brown condemned Iceland's failure to guarantee British savers' deposits.
Mr Haarde strongly objected to Britain using anti-terror legislation to seize Icelandic bank assets in the UK.Mr Haarde strongly objected to Britain using anti-terror legislation to seize Icelandic bank assets in the UK.
Landsbanki, one of many banks hit heavily by the global credit crunch, was taken over by the Icelandic government and declared insolvent on Tuesday, leaving 300,000 UK customers of its subsidiary IceSave unable to access their accounts.Landsbanki, one of many banks hit heavily by the global credit crunch, was taken over by the Icelandic government and declared insolvent on Tuesday, leaving 300,000 UK customers of its subsidiary IceSave unable to access their accounts.
Mr Brown said Iceland's actions were "effectively illegal" and "completely unacceptable".Mr Brown said Iceland's actions were "effectively illegal" and "completely unacceptable".
The UK government has frozen all UK-held assets of Landsbanki after it collapsed.The UK government has frozen all UK-held assets of Landsbanki after it collapsed.
Geir Haarde on the 'painful process' facing the banking industry
Mr Haarde said it was "not very pleasant" to learn that anti-terror laws were being used to deal with the company.Mr Haarde said it was "not very pleasant" to learn that anti-terror laws were being used to deal with the company.
He also said Britain was partly to blame for the collapse of Iceland's biggest bank, Kaupthing, which has now been nationalised.He also said Britain was partly to blame for the collapse of Iceland's biggest bank, Kaupthing, which has now been nationalised.
"This is something that happened partly as a result of action taken against Kaupthing by British authorities, presumably to safeguard the interests of UK citizens."This is something that happened partly as a result of action taken against Kaupthing by British authorities, presumably to safeguard the interests of UK citizens.
"But I think this was very unfortunate. We were hoping that Kaupthing would be able to survive this crisis, continue as a fully functioning private bank.""But I think this was very unfortunate. We were hoping that Kaupthing would be able to survive this crisis, continue as a fully functioning private bank."
Council depositsCouncil deposits
UK Chancellor Alistair Darling has announced that all UK savers affected by the Icelandic bank crisis will be protected.UK Chancellor Alistair Darling has announced that all UK savers affected by the Icelandic bank crisis will be protected.
But the government has not yet offered the same for more than £900m known to have been invested in Icelandic banks by UK councils, police and transport authorities.But the government has not yet offered the same for more than £900m known to have been invested in Icelandic banks by UK councils, police and transport authorities.
So far more than 100 local authorities in England, Wales and Scotland have revealed that they have deposits worth £842.5m in total.So far more than 100 local authorities in England, Wales and Scotland have revealed that they have deposits worth £842.5m in total.
The figure is £946.8m when investments by police authorities and Transport for London are added.The figure is £946.8m when investments by police authorities and Transport for London are added.
The councils say they have followed Treasury advice by investing surplus money to deliver the highest return for taxpayers.The councils say they have followed Treasury advice by investing surplus money to deliver the highest return for taxpayers.
The Local Government Association wants the same protection for councils as has been given to personal customers of IceSave and other failed Icelandic banks.The Local Government Association wants the same protection for councils as has been given to personal customers of IceSave and other failed Icelandic banks.