Read Banking Crisis: The impact of the failure of the Icelandic banks

Banking Crisis: The impact of the failure of the Icelandic banks

House of Commons Treasury Committee

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Description:The failure of the Icelandic banks in October 2008 had potentially severe consequences for depositors. In this report, we consider three sets of such depositors: local authorities, charities and UK citizens who deposited in the Isle of Man and Guernsey subsidiaries of the Icelandic banks. We consider the case for the provision of assistance by the UK Government to these depositors. We do not accept that there is a need to provide assistance to the local authorities. We recommend that, on this occasion only, all charities should be compensated for losses incurred as a consequence of the failures of the Icelandic banks. Finally, we agree that the overarching principle should be that the UK Government cannot provide cover for deposits held by British citizens in jurisdictions outside the direct control of the United Kingdom. As such, while we acknowledge the severe distress of those UK citizens suffering due to the Icelandic banking failure, we can only recommend that the UK authorities work with the Isle of Man and Guernsey authorities to resolve these issues.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Banking Crisis: The impact of the failure of the Icelandic banks. To get started finding Banking Crisis: The impact of the failure of the Icelandic banks, you are right to find our website which has a comprehensive collection of manuals listed.
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ISBN: 0215529650

Description: The failure of the Icelandic banks in October 2008 had potentially severe consequences for depositors. In this report, we consider three sets of such depositors: local authorities, charities and UK citizens who deposited in the Isle of Man and Guernsey subsidiaries of the Icelandic banks. We consider the case for the provision of assistance by the UK Government to these depositors. We do not accept that there is a need to provide assistance to the local authorities. We recommend that, on this occasion only, all charities should be compensated for losses incurred as a consequence of the failures of the Icelandic banks. Finally, we agree that the overarching principle should be that the UK Government cannot provide cover for deposits held by British citizens in jurisdictions outside the direct control of the United Kingdom. As such, while we acknowledge the severe distress of those UK citizens suffering due to the Icelandic banking failure, we can only recommend that the UK authorities work with the Isle of Man and Guernsey authorities to resolve these issues.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Banking Crisis: The impact of the failure of the Icelandic banks. To get started finding Banking Crisis: The impact of the failure of the Icelandic banks, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Banking Crisis: The impact of the failure of the Icelandic banks

Banking Crisis: The impact of the failure of the Icelandic banks

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