Darling stands by Icesave depositors
Following the news that Iceland has no funds in its compensation scheme with which to repay UK depositors in Icesave, Alistair Darling has announced that he will step in to help.
Alistair Darling has just stated on television that although Icesave is a foreign bank, and there was therefore no obligation to cover the deposits, because we are in exceptional times the government will now step in and cover deposits of up to £50,000.
Update
Following a Treasury announcement it would appear that all deposits will be fully covered.
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