Brit Government seizes £4bn in Icelandic assets
- added October 12, 2008
- 0 responses
The seized assets will be used to pay back British savers .
"Some £4bn is understood to have been frozen using anti-terror laws last week, compared to the estimated £3bn that UK councils, charities and individuals stand to lose."
"Asked if they could be sold in order to recover the investments, Treasury Secretary Yvette Cooper told BBC1's Andrew Marr Show: "I think we need to have a proper process for doing this and that is why we sent a team over to Iceland on Friday in order to talk to the Iceland authorities about how that money can get back to the people whose money it really is."
"These discussions are under way at the moment and that is why we have frozen assets in the meantime until we know how people are going to get their money back."
"Some £4bn is understood to have been frozen using anti-terror laws last week, compared to the estimated £3bn that UK councils, charities and individuals stand to lose."
"Asked if they could be sold in order to recover the investments, Treasury Secretary Yvette Cooper told BBC1's Andrew Marr Show: "I think we need to have a proper process for doing this and that is why we sent a team over to Iceland on Friday in order to talk to the Iceland authorities about how that money can get back to the people whose money it really is."
"These discussions are under way at the moment and that is why we have frozen assets in the meantime until we know how people are going to get their money back."
Login/Registration is required to add a response
