Warning about Iceland banks was ignored by UK

According to a recent report warnings that were issued about Icelandic banks were ignored by the UK government, resulting in officials being accused of complacency. It is alleges that warnings over the possible collapse of Icelandic banks were given as far back as July, but the government paid no heed to these warnings. The issue was raised with government ministers on two separate occasions according to reports, and this was by Lib Dem peer Lord Oakeshott and Tory MP Michael Fallon. Read more

Tags: europe, Kaupthing Bank, iceland banks, MP Michael Fallon, Michael Fallon

Cash from some Icelandic banks gone into the abyss

According to recent reports many of the UK savers that tried to transfer their money from the collapsed Icelandic banks, Icesave and Kaupthing Edge, have discovered that the money has not hit the accounts into which it was transferred. Many consumers who had put savings into the Icelandic banks due to the high rates of interest paid started to transfer their cash in the run up to the collapse following rumours that sparked fears over the collapse, but in some cases the money has been transferred out of the Icelandic account but not appeared in the recipient account. Read more

Tags: rumours, fears, reappear, News, service, apacs, lawful bank instruction, Kaupthing Bank