Iceland over UK in Icesave bank ruling

Discussion in 'Wall St. News' started by Wallace, Jan 28, 2013.

  1. ''Total victory' for Iceland over UK in saga of Icesave depositors '
    "European court rules that Nordic nation does not have to compensate Britain for
    The court's judges said that the deposit protection directive "aims expressly to
    preclude an excessive shifting to the state of the costs arising from a major banking
    failure". Since the Landsbanki debacle, the rules governing cross-border banking in
    Europe have been modified. EU member states are today required to guarantee
    deposits of up to €100,000 (£85,000) for each saver."