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ShahLatif

Uk Applies Anti-terror Law To.... Iceland

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This makes your head spin. One wonders, why is there even a need to invoke a 'law' when doing such things? why not just keep the money and tell others to shove their whining up their ...?

http://news.bbc.co.uk/2/hi/uk_news/politics/7662027.stm

Prime Minister Gordon Brown has condemned Iceland's handling of the collapse of its banks and its failure to guarantee British savers' deposits.

He said its action were "effectively illegal" and "completely unacceptable".

The UK government has frozen all UK-held assets of the Icelandic bank Landsbanki after it collapsed.

Iceland's prime minister Geir Haarde said it was "not very pleasant" to learn that anti-terror laws were being used to deal with the company.

Landsbanki, one of many banks hit heavily by the global credit crunch, was taken over by the Icelandic government and declared insolvent on Tuesday.

The 300,000 UK customers of its subsidiary IceSave were unable to access their accounts.

Edited by ShahLatif

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